1. Introduction
  2. Surviving Financially – for a Few Months or Longer
  3. Figure Out Which Debt to Pay Off First
  4. Will You Need a Retirement Drawdown Strategy?
  5. How to Get Health Insurance After Losing Your Job
  6. How Much Should You Pay in Life Insurance?
  7. Job Hunting for People Over 50
  8. Resumes and Interviews
  9. The Bottom Line
  10. DCF Analysis: Introduction
  11. Advanced Bond Concepts: Bond Pricing

Have you “retired” due to a layoff in your 50s or 60s? For some people that may be a perfectly fine age to retire. But it may feel like it’s too soon if you aren’t ready to end your career or don’t have enough savings to last for the rest of your life.

You’ll need a strategy to reenter the workforce after age 50 and financially survive the layoff until you can find a new job. It must be a sound strategy because you might be out of work for a long time. You may face challenges, such as age discrimination and not being able to find a new position with the same pay or seniority. What’s more, the older you are, the more likely it is that your health isn’t what it once was, making jobs that require working long hours, traveling or enduring a long commute less desirable or even out of the question. All of this means you may need to limit your job search in ways you didn’t have to when you were younger.

If you find yourself in this distressing situation, be reassured that there are many ways you can take charge and give yourself an excellent shot at not letting this layoff have a long-term effect on your finances. Here are some strategies for making ends meet in the short term while preserving your future retirement plans and finding a new job.


Surviving Financially – for a Few Months or Longer
Related Articles
  1. Investing

    Comparing Yield To Maturity And The Coupon Rate

    Investors base investing decisions and strategies on yield to maturity more so than coupon rates.
  2. Investing

    How Does A Bond’s Coupon Interest Rate Affect Its Price?

    All bonds come with a coupon interest rate, which is the fixed annual interest a bond pays.
  3. Investing

    Understanding Bond Prices and Yields

    Understanding this relationship can help an investor in any market.
  4. Personal Finance

    Coupon Shopping: Clip Your Way To Savings

    Use coupons strategically to score big savings on everyday purchases.
  5. Investing

    If I Buy A $1,000 10-Year Bond With A 10% Coupon, Will I Receive $100 Each Year?

    Investors can count on a fixed-income security paying them a certain amount of cash as long as the security is held until maturity and the issuer doesn’t default.
  6. Financial Advisor

    Simple Math for Fixed-Coupon Corporate Bonds

    A guide to help to understand the simple math behind fixed-coupon corporate bonds.
  7. Investing

    Risks To Consider Before Investing In Bonds

    Make sure you understand the risks associated with bonds before making an investment decision.
  8. Investing

    The Pros & Cons Of Using Coupons For Your Business

    Coupons can drive business to your store – you just need to make sure it's profitable business. Here are strategies that work.
  9. Investing

    What is a Premium Bond?

    A premium bond is one that trades above its face or nominal amount.
Frequently Asked Questions
  1. What are the Differences Between Affiliate, Associate and Subsidiary Companies?

    All three of these terms refer to the degree of ownership that a parent company holds in another company. Read on to find ...
  2. What Does it Mean if the Correlation Coefficient is Positive, Negative, or Zero?

    Learn what the correlation coefficient between two variables is and what positive, negative and zero correlation coefficients ...
  3. What's the Difference Between a Market Economy and a Command Economy?

    Set by supply and demand, a market economy operates through a price system; in a command economy, governments control the ...
  4. What Factors Cause Shifts in Aggregate Demand?

    Find out how aggregate demand is calculated in macroeconomic models. See what kinds of factors can cause the aggregate demand ...
Trading Center