Don’t miss today’s WSJ story:
Downwardly Mobile: Living on Less in the City
This story really hit me hard. A 58-year-old woman was laid off several months ago. She can’t get a new job so she’s scrambling to live on her unemployment benefits. I admire her spirit. I also like her tips for economizing.
What the WSJ doesn’t tell us: If you are over 50, you face tough odds of being hired. I won’t be negative and say it’s impossible. But I think you might consider self-employment as a realistic alternative.
Unfortunately, today’s unemployment compensation laws insist that you must keep looking for a job if you want to get benefits. These laws were designed for a time when unemployment was temporary and seasonal. They were not designed for a time when your job disappeared (along with your industry, in some cases).