job market is grim, particularly if u r 50+

[hippie]

Quote from jprad:

What a narrow-minded, asinine perspective...

Yeah, there are idiots who squandered their chance. But, not everyone of them did. There are plenty of rational, prudent 50-somethings that got absolutely screwed by companies the likes of Enron, MCI, Lehman, Bear Stearns, and on and on.

And, there are going to be plenty more, some already retired who are sweating bullets every time they get an envelope from their retirement plan administrator.

I've personally seen people ruined by plans changing, if not outright dropping spouse coverage for medical benefits. And, these are people who have a limited backstop because they did the absolutely unthinkable, lived on one paycheck while mom raised the kids.

Like I said, yeah, there are idiots who squandered their chance. But, the sad reality is that Corporate America sold out the middle class by getting Washington to change the rules in midstream.

The worst part? We're still in the early innings of this mess. The government confiscated gold once. Don't be surprised if and when they go and confiscate some of your hard-earned wealth simply because you still have it.

Well said. It is easy for the young and the fortunate to be callous. Benanke is confiscating by reducing the value of what u have worked for by printing more and more. When what u had saved buys less and less, it is like confiscation by the issuer of the fiat currency.

I see too many ex-IT folks in their 50's unemployed or doing odd jobs not relating to their expertise. Those who still have their jobs are doing several workers' job. The only exception are those working government contracts. They still have it good.

 

[nooby_mcnoob]

Quote from jprad:


The worst part? We're still in the early innings of this mess. The government confiscated gold once. Don't be surprised if and when they go and confiscate some of your hard-earned wealth simply because you still have it.

They don't have to do this any more. The printing press is an old boy's club and you're not an old boy, chump.

I spent some time going through all those videos on youtube about the printing of money and what the eventual goal is. I thought it was impossible. Now I realize they were right. The goal is literally to steal from everyone else.

Sometimes I wish I was one of those blissfully happy retards like the retarded policeman guy. I don't really want to be one, but sometimes... What an attitude on that guy!

 

[QQQBALL]

Quote from hippie:

Well said. It is easy for the young and the fortunate to be callous. Benanke is confiscating by reducing the value of what u have worked for by printing more and more. When what u had saved buys less and less, it is like confiscation by the issuer of the fiat currency.

I see too many ex-IT folks in their 50's unemployed or doing odd jobs not relating to their expertise. Those who still have their jobs are doing several workers' job. The only exception are those working government contracts. They still have it good.

I seem to be full of long boring posts on this thread -

Over the past 10+ years. I have seen alot of engineers jump into my field. Engineers are smart and detail orientated and well suited for many tasks and better suited than most. One thing I have noticed is SOME try to earn as much as possible rather than really starting from the bottom. Marginal Commercial Real Estate brokers and mortgage hacks also try to make the jump, but its too detailed and labor intensive, so they rarely last. The engineers that do shitty work ruin their reputations and will be marginalized. I left a commercial leasing agent position in mid-1980's making like $80,000, which was great money back then (I nailed a large commish in that $80k), spent 6 months in Mexico and then came back and started in my then new career. I started for a whopping $6 per hour, relocated and slept on my buddy's couch for 3 months until I was reasonably sure I could make it (I;m laughing as I write this b/c I worked 16 hrs everyday at a straight 6 bones per hour - ha!). Guys coming out of Silicon Valley software engineering jobs or aerospace engineering jobs do not want to work for min wage - but you know what - I knew an airline pilot who worked for a buddy for free to learn the biz and he got hired. They look at the shit wage they are offered and look at the fees and think - "this guy is ripping me off"and some just start cutting corners. There are lots and lots of qualified people in my field taking the pipe, so new entrants face a tough road - speaking Chinese and/or Spanish is a big plus in Socal.

One thing some of you are overlooking is that it is very difficult for people to be self-employed. Everyday I am unemployed until I generate demand for my services. If you are old and broke, or young with a wife and kids its really tough to do, and some people just cannot do it anyway - they are not wired that way. So, going from a cushy salaried position to unemployed and then dreaming of being self-employed may be a nightmare.

I tell you sumtin - my oldest could come in an in a few months when he graduates & I'd pay him 80% of the fees and train his ass, but he does not want to do it - yet...