Now looking in the rear view mirror on this, it is possible
to offer a perspective.
One of the key things is to join and participate in professional
societies. This was a strong recommendation of a former
boss at Exxon Research, Jim Amick
. Our conversations led me
to pursue roles that might provide experience in leadership and
networking. It was not broadly spoken about at my first two
positions and it was not easy to get approval to attend meetings.
Yet when my turn for facing the music of job loss came,
it was my good fortune that managers encouraged me to
attend a national ACS meeting to participate in the job clearinghouse.
That led to several interviews and offers.
Weathering the storms of corporate life is mostly being in the
right place at the right time, by good relationship and
skill building. Accepting roles that are not part of my formal
background did stretch employment longevity. But looking for
volunteer opportunities for the common good– chairing meeting
sessions, reviewing articles, volunteering as local section member
at national meetings and then learning from successes of others.
Then, help others pursue their career aspirations.
As I saw happen to even the most talented colleagues, cut backs occur.
Through no fault of their own I saw many people get “sacked” and
pick themselves up and resume their career somewhere else. My
content here is to bring up end of career observations, as are described
in Mark Miller’s article
. [LISTEN TO THE PODCAST!]
- Center for Retirement Research (BC) found 37% retire earlier
(55% fail to reach age 66 target)
- one quarter of loss of jobs due to health (UMichigan,
- Workers 55 and older: unemployment rate 2.6%, but long term
unemployment of >27 weeks, is 26.6%, [that is, if you get laid off,
recovering is less likely]
- Sporadic income is hard to manage, but expecting to reach your
retirement goals set early in life, is getting harder and harder.
Pointers from Mark Miller
1. Assess your health and employment statistics in viable fields, as
time goes on.
2. Create interim plans including health care insurance and alternate
income streams that match outflows.
3. Fees and costs of retirement accounts. Look for financial advisers
who pursue your goals [interview several and don’t just depend on
Al Sklover shared one of the impacts of the 2018 tax law
change that allowed the mega wealthy a tax cut is to tax
as income any relocation reimbursement by employers.
The article recommends that new or relocated employees
ask for “grossing up” that is having extra sum of compensation
to pay for the taxes due.