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My wife was laid off the other day. After thirty years at one company. For the first time in her working life, forty years, she was told her services were no longer needed.
Even though we’re financially fine, and now that she may join me in retirement, I’m unsettled. I think it’s because we have both crossed the retirement line. We’re no longer actively working to make money. We’re now 100% earning money passively. We’re relying on all the acorns that we’ve saved, invested. We’re now dependent on the efforts of others, and the stability of our current financial system.
Issues that are discussed on HD become more relevant. I’ll take things one day at a time, and chant my FEAR mantra, False Evidence Appearing Real. Hopefully that keeps my anxiety at a very low simmer.
Venicio, while condolences are in order, so might be congratulations. I’m sure being laid-off after thirty years of commitment and service feels like (and is in my opinion) a form of betrayal. And I’m sure you both feel unmoored and mournful. But if you both are in fact financially fine,, I suspect that given time you will look back at this unsettling event as an unintended but ultimately fortuitous gift (i.e being able to fully share your retirement together, sooner rather than later). Major marriage altering events such as yours bring to mind the last lines of Milton’s “Paradise Lost”. As you may recall, having been “laid off” by the boss, Adam and Eve are forced to retire from Eden. I’ll leave you in the hands of Milton:
Some natural tears they drop’d, but wip’d them soon;
The World was all before them,
where to choose Their place of rest,
and Providence their guide:
They hand in hand with wandering steps and slow,
Through Eden took their solitary way.
Unfortunately, more layoffs keep coming and from what I’m reading, it can be skewed towards Gen X (my generation). I figured out a long time ago that loyalty means nothing to Corporate America and once I figured this out, I didn’t take anything as personal. Doesn’t mean it doesn’t hurt or impact your family – for this, I’m sorry. Reality is that this will happen more and more unfortunately.
Venicio – please accept my condolences to your wife and you. Having a long-term plan dramatically upset like that stings in many ways. I was laid off twice in my career. I had concerns that it might happen again late in my career, but was fortunate to find a new role with the same company about five years before I planned to retire. It hurts to not go out on our own terms.
The trip to Portugal sounds great, and I hope the break allows some new perspective for you both.
Sorry for your shock, digest it and move on as best you can. I had the same thing happen to me at 48 and 22 years of hard work, they called it downsizing, but really it was to save money, what else could it be. What provided comfort was pre-planning for a rainy day. I invested in our IRA, and never overspent my means. These situations always happen at an inopportune time, 3 children in college. It all worked out, and enjoying retirement now for 15 years since 65, and counting. Key, if you invested and lived within your means, I assure you a wonderful future. Just another life bump in the road, there will be more, so keep enjoying each day, one at a time. Best to you both.
First, let me say how sorry I am that your wife lost her job this late in her working career. Second, this was my biggest fear as I approached the last 5+ years of my working career before I retired.
I saved for retirement from my first day at work and upped my retirement contributions with every increase in salary.