Suddenly losing job age 50+ - any experiences?

[Bevawelly]

Hello all,

I have just found out I am likely to lose my job next week.
I have been made redundant more than once (although this is not redundancy so I won't get any money!) and every time I have had fire in my belly to get out there and get another job straight away.

This time though, I just feel completely deflated/done/nothing left in the tank etc
It has been a stressful job with uncertainty for several months which may be while I feel this way.

I would like to take this chance to make a big life change but I have no idea what or how to start.

I have always worked in accounts/payroll/office manager type roles but would like to do something completely different instead of always feeling like a "slave to my salary".

I am single, and have a mortgage/bills to pay like everyone else but I do have equity in my house (although can't really move anywhere as I have an elderly horse).

I have thought of renting out my spare room for some extra income but that's about as far I have got.

If anyone would like to share their experiences around losing their job/changing career/changing life! I would love to hear them, it might give me some inspiration.

I have always been motivated not just to work, but to work hard and do a good job, and I have worked full-time from the age of 18. I have never felt this way before, just so flat and uninspired/unmotivated

[novocastrian]

can you lose your job without being made redundant ?

[Bevawelly]

Yes you can, if administrators are called in.

[spenners]

Originally Posted by novocastrian

can you lose your job without being made redundant ?

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Might be self employed/agency. OP what are you passionate about, could your passion be the basis of a new career?

[mrsjacksparrow]

Sorry to hear you could be losing your job. It can be an unsettling time regardless of whether you have something else lined up or not.
Until November last year I had worked for the same company for 23 years. Over those years I worked my way up from administrator to National counter fraud manager but in all honesty at 52 I was finding I was tired of the constant pressure and stress of it all. I lost my mum in September which sent me down a whole ‘what the hell am I doing this for’ path and when the potential for voluntary redundancy came up the following month I realised it was my time to do something completely different. I guess the decision was made easier as I had a good redundancy package but, still scary at this age and not having had an interview in the big wide world for the best part of my working life. I did start looking for work straight away but I decided I was only going to do something that brought me joy. I was lucky that one such opportunity came up, I applied and was successful. I now don’t have the Sunday evening dread and I feel like all my anxiety has melted away. I no longer have any direct reports and I’m only responsible for my own work and not anyone else’s and although I’ve taken a hefty pay cut i think it was the best decision I ever made.
My advice would be to really think about what you enjoy doing, regardless of what it is and just go for it. You spend too many hours at work to be doing something that doesn’t bring you joy.
I hope you find something and it all works out for you!

[Bevawelly]

Originally Posted by spenners

Might be self employed/agency. OP what are you passionate about, could your passion be the basis of a new career?

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My main passion is horses - I have an elderly horse, who isn't cheap to keep as she has some health issues - another reason why I need to work I guess.

Salaries in the equestrian world are generally pretty low.

[Bevawelly]

Originally Posted by mrsjacksparrow

Sorry to hear you could be losing your job. It can be an unsettling time regardless of whether you have something else lined up or not.
Until November last year I had worked for the same company for 23 years. Over those years I worked my way up from administrator to National counter fraud manager but in all honesty at 52 I was finding I was tired of the constant pressure and stress of it all. I lost my mum in September which sent me down a whole ‘what the hell am I doing this for’ path and when the potential for voluntary redundancy came up the following month I realised it was my time to do something completely different. I guess the decision was made easier as I had a good redundancy package but, still scary at this age and not having had an interview in the big wide world for the best part of my working life. I did start looking for work straight away but I decided I was only going to do something that brought me joy. I was lucky that one such opportunity came up, I applied and was successful. I now don’t have the Sunday evening dread and I feel like all my anxiety has melted away. I no longer have any direct reports and I’m only responsible for my own work and not anyone else’s and although I’ve taken a hefty pay cut i think it was the best decision I ever made.
My advice would be to really think about what you enjoy doing, regardless of what it is and just go for it. You spend too many hours at work to be doing something that doesn’t bring you joy.
I hope you find something and it all works out for you!

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That's a great story - thank you for sharing. I'll give it some thought as you have suggested.

[novocastrian]

Originally Posted by Bevawelly

Yes you can, if administrators are called in.

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ah sorry didnt think of that

[Bevawelly]

Originally Posted by novocastrian

ah sorry didnt think of that

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That's ok. The company I work for is pre-revenue and fully funded by investors so we don't have any income/revenue.

[Claudette]

Originally Posted by Bevawelly

Yes you can, if administrators are called in.

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This is not correct. You are still entitled to redundancy and employees are classed as preferential creditors, although there is a payment cap. There is also a government fund for situations where the employer cannot pay.