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?
As 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!