Retired by 50?

Many finance bloggers are on the Early Retirement track.  They save a high percentage of their income in order to get out of the rat face, preferably no later than age 40. While early retirement has never been my top priority, I can see the attraction of spending more time on doing things you love/like and with friends and family.

However, I have seen way too many older workers get laid off in their 40s and 50s who are then unable to find a new job.  Maybe a forced Early Retirement will be the new normal?

layoffAs I approach my mid-40s, it’s hard not to wonder if I’m next on the cutting block. I enjoy learning new things and am relatively digital-savvy but I still find it hard to keep on top of technological changes. When I first got a smartphone, I had to ask a younger co-worker how to use it!  I still have no clue about Apple TV or other ways of streaming video to your TV set. I rarely use Twitter and haven’t even tried SnapChat or Instagram.

There’s a huge difference between getting laid off in your 20s/30s than in your 40s or 50s. Age discrimination is very real in corporate circles, from the lower echelons up to middle management. Even an experienced middle-aged managers with a stellar history can be passed over in favor of someone younger who is experienced but presumed to be more, tech-savvy and less expensive.

I’m not so much as focused on retiring in my 40s as NOT being retired by age 50 or sooner!

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2 thoughts on “Retired by 50?

  1. This is my sneaking fear about not being prepared to retire, voluntarily or not, by around age 50. Mom and Dad both faced age-related discrimination and weren’t able to do very much after years of forging their own path and it wreaked havoc on their finances. Granted, they were also dealing with a bit of a language barrier as well but a language barrier may well be the same as a totally different economy and professional structure that we’re looking at with changing technologies. I look around and dozens of people my age or younger are forging careers entirely on the internet and I’m not quite sure how it’s working! I already feel like a fossil 😉

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