Coping with a Job Loss
Losing one's job after the age of 55 used to be the end of one's career. In today's economy however, many people are working into their 70's and still loving it. Yes, it may be difficult to start over, but for someone who is healthy and creative, it can be done with out a lot of stress.
New career
Perhaps now is the time to start that new career everyone has been hinting at. Step out of the comfort zone and allow hobbies and other career interests to replace the stress of the former daily grind. Consider temp to hire jobs and anything else part time that comes up.
Create one's own job
Live off of the severance pay and turn a hobby into a job. If one has been at the job for many years severance may be fairly lucrative.
Volunteer to a job
Volunteer with local area shelters, food banks and the like. Often one can network into a part time or full time job this way.
Networking
Network with friends and family that have company's that might be needing help. Think back to everyone ever contacted and go from there.
Filing for unemployment
Make sure to file for unemployment immediately. Most jobs will pay into this and there will be money that can help support a family if needed. Don't hesitate thinking that tomorrow a new job will come along. File right away as there is often a one to three week waiting period.
Go to the local food bank
Food is often a commodity during this time. Go to a local food pantry or food bank and fill out the required forms to get some food. Everything helps during this time and over the years it's been paid into so take something out of the investment.
Call creditors
Immediately call the creditors and let them know there is no more source of income. Many will defer payments or lower payments for a specified amount of time. If one knows their job is on the line and can make extra payments before losing one's job it would be a wise thing to do.
Take inventory
Take an immediate inventory of what there is, what is needed and what must be paid. Is there enough food for a few months? How about enough gas money to get to and from job interviews? Nothing is too insignificant to jot down on this list.
Don't hesitate to lean on close friends and family during this time and get oneself pulled back together. Losing a job isn't the end of the world no matter what one might think at the time. Take it as an opportunity to explore new horizons and step outside the box to find solutions that will work.
