He is, however, prepared for the reality of the situation. He recognizes that he has a tough road ahead. He knows he probably won’t ever earn the salary he had. And even for a much lower-paying job, he’ll be competing with people half his age.
Need proof of that? A GAO report in 2012, the most recent available, said unemployed workers 55 and older were the least likely to find another job.
“I speak to a lot of big audiences of people over 50 looking for jobs,” says Kerry Hannon, career expert and author of “Getting the Job You Want After 50 for Dummies.” “I feel and I see the palpable fear. The job market has not improved for this set of people.”
“It’s not a pretty scene,” she says. “What happens is people say they will keep working, but for various reasons, including health, they don’t keep working.”
By Rodney Brooks
Rodney A. Brooks writes about retirement and personal finance for The Washington Post. Rodney has had a long and distinguished career in financial journalism. He previously worked at USA Today from 1985 until his recent retirement.