job market is grim, particularly if u r 50+

[Roark]

Quote from ashatet:

I have mixed feelings about jobs. I was looking for a painter to paint my house. Ironically, the lowest anyone wants to go is $35 an hour (I mean real painters with experience). Most want around 40+. Now, just about anyone can paint with a few hours of training. These same people then complain that they do not have enough work.

I completely understand the need for people to have to make at least 35+ an hour to make a living wage, after all most of the middle class is getting crushed by:

1. Property Taxes
2. Insurance (Overpaid Doctors, Nurses, Lawyers)
3. Big Government at local, state and federal level
4. Unnecessary wars

Looking above, we all pay for these unproductive money drains, hence, the inflated prices for services rendered. Unless, the taxes are down, insurance is down, service prices cannot go down, and we will not be competitive.

As far as starting a new business goes, try doing it. I just came from an average bar and a glass of beer cost me $7 with tip. Now, I could have had the same beer at home for $1. Do I think the bar is ripping people off, not really, they have too many expenses to meet and on the top of that list are the property taxes and insurance that is crushing all businesses.

On the subject of Facebook and starting your business, it is possible to start your business competing with Facebook. See the story of Diaspora at http://www.readwriteweb.com/start/2010/05/the-diaspora-project-and-kicks.php, started by four computer science students. They posted their idea on Kickstarter and got funded for $200K plus and they were only asking for $10K. Their project is at http://www.kickstarter.com/projects/196017994/diaspora-the-personally-controlled-do-it-all-distr

Another team had an idea for mounting Ipod Nanos on watches and wanted $15K for their project on Kickstarter. They got $942K. See the story at http://www.pcmag.com/article2/0,2817,2373817,00.asp Their project is at http://www.kickstarter.com/projects/1104350651/tiktok-lunatik-multi-touch-watch-kits

If you're going to start a business, that's the way to go, with money from other people at risk, not your own.

 

[hippie]

Quote from Roark:

Quote from dwpeters:

I'm surprised that in a trading forum I have yet to see any mention of turning to trading professionally... [/QUOT

Because people who are 50+ years of age and unemployed with no job prospects are generally scared and scared money never wins.

This is very true. It is very hard to take risk when there is little or nothing to fall back on should one fails. Don't forget people over 50 has been thru the tech crash or 2001 and now the Great Recession that is really the Great Depression for those over 50 w/o job and needs one.

 

[hippie]

Quote from W4rl0ck:

Exactly.

Get small until you turn around.

Best of luck. The way I see it, the economy is turning around despite the politicians and the bankers.

The new tech boom is only in its nascent stages. It's going to be big.

Don't bet against America(ns).

Are u kidding? Sad to inform u that the American century is over.

Get small? How small? Live under a bridge picking cans? Until turn around? I am afraid there is little chance of turning around for many over 50 now in poverty w/o jobs. A few may get lucky, like getting an inheritance when the parents pass on. For others, there is almost no turning around.

 

[denner]

Quote from ashatet:

I have mixed feelings about jobs. I was looking for a painter to paint my house. Ironically, the lowest anyone wants to go is $35 an hour (I mean real painters with experience). Most want around 40+. Now, just about anyone can paint with a few hours of training. These same people then complain that they do not have enough work.

I completely understand the need for people to have to make at least 35+ an hour to make a living wage, after all most of the middle class is getting crushed by:

1. Property Taxes
2. Insurance (Overpaid Doctors, Nurses, Lawyers)
3. Big Government at local, state and federal level
4. Unnecessary wars

Looking above, we all pay for these unproductive money drains, hence, the inflated prices for services rendered. Unless, the taxes are down, insurance is down, service prices cannot go down, and we will not be competitive.

As far as starting a new business goes, try doing it. I just came from an average bar and a glass of beer cost me $7 with tip. Now, I could have had the same beer at home for $1. Do I think the bar is ripping people off, not really, they have too many expenses to meet and on the top of that list are the property taxes and insurance that is crushing all businesses.

Completely on target post. I've mentioned that it's the absurd cost of living in this country that prevents us from bottoming out and becoming reasonably competitive again. The fact that the broad based ponzi that was benefitting much of the middle class (i.e. home equity extraction plus a massive bubble real estate industry) has been decimated also kills demand for many services WHILE AT THE SAME TIME, the public sector, local municipalities, banks, insurance companies etc...do everything in their power to try to make back the losses they've experienced in the markets with "fee inflation".

The attempts to just "paper over" all of these fundamental problems is really laughable, if it weren't so tragic.

 

[Scataphagos]

Quote from ovenchicken:

$10/hr seems insanely low, even if you were paying illegals under the table.

Like other posters said, I would be expecting closer to $100/hr in any bigger city.

Why is $10/hr "insanely low"? Cleaning doesn't require any skill. Whenever I go to the movies, I see "Help Wanted" for ticket takers or popcorn servers @ $8-$8.50/hr.

"Expecting [to pay] $100/hr FOR RUNNING A MOP"? Are you NUTS?

A couple of years ago, I ran an ad in Craigslist seeking house cleaning @ $15/hr. Got about 20 responses the first day.

So then, you give one of them a shot. If it doesn't pan out, you try another.

 

[dwpeters]

I feel for the people my age with nothing to fall back on, especially those in the situation due to unfortunate circumstances. But it is not thru luck that I have options. I don't have a huge home, fancy cars, phones, or even a big screen TV, but I also have savings and no debt. I was fortunate to learn at a younger age the importance of living within ones means. It's a tougher lesson when learned later in life.

 

[nutmeg]

Quote from dwpeters:

I don't have a huge home, fancy cars, phones, or even a big screen TV, but I also have savings and no debt.

Not very patriotic of you.

You're the reason unemployment is the way it is.

 

[nooby_mcnoob]

Quote from nutmeg:

Not very patriotic of you.

You're the reason unemployment is the way it is.

This is a very good point. Recently, I've got two minds about it. One mind says: why not live like the bernankee? Spend, spend, spend, go bankrupt, start again. Spend, spend, spend, go bankrupt, start again? Lots of highs, lots of lows, lots of fun in between. Problem is that for most people, the spending only starts once. If we removed credit checks and history from the system, this could be quite viable.

The alternative is live below your means, slowly, but surely developing a solid financial foundation.

Which sounds more fun?

Bernankeeeeeee!!!!!!

 

[dwpeters]

Quote from nutmeg:

Not very patriotic of you.

You're the reason unemployment is the way it is.

LOL. Well I expect to do my part and buy the big screen TV this year. But not sure that will help many folks here, most are made overseas these days.

 

[hippie]

Quote from Roark:

This thread is about people 50+ years in age for whom the job market is grim. If they use their capital to start a business and fail, there likely will not be a well-paying job that they can find to rebuild their capital and try again. Plan B will be working at a McDonalds or Walmart or maybe worse, living under a bridge and collecting recyclable bottles and cans to earn money. Before anyone rushes out and tries to beat the odds, they need to assess the consequences of the odds beating them.

Exactly. Thanks for pointing this out. I am a trader with very small capital - not enough to daytrade stocks due to the 25k Reg T requirement. So I am trading fx and micro futures. I am profitable but not making a living yet. I am extra cautious with money management knowing that I cannot make it back in a job if I blow my tiny account.

I freelanced in IT for many years. There is no unemployment benefits for jobless contract workers. Now those jobs are gone for folks my age. I would go to Alaska or Iraq if there is good paying work there for me. I would love a temp/contract job to earn the capital I need to make a living trading.

I will get social security in a few years. My trading skills will bring in the extra income to supplement Social Security.