Retirement Benefits May Not Be Enough

NH, It's not only job security and retirement benefits that are causing stress to people today. Many have lost much of their retirement savings, because of the market downturn during the past three years. Our local newspaper, the San Jose Mercury News, has been featuring individuals and their experiences in this tough job market. I'll summarize a few after I have my dinner. c.i.

Some surprises to be sure: The first one relates the story of a 36 year old single father of three. He's losing his job as a director of marketing and business development with a high tech company this coming Saturday. "By the virtue of burnout and the opportunities that have sprung up before me, I will be giving up the frequent flier miles, the expense accounts and my two offices." But he says, "In spite of the drastic downturn in security and income all this will cause me, I am so ready for it and excited...I haven't been this happy since I was 12."
A 44 year old woman simply cannot find any work and had to become subsidized by her family. She claims jobs through temp agencies have all but dried up. She says that the only place that will hire her are places like Wal-Mart and HOme Depot, but wonders if she will end up homeless. She can't possibly survive on a net $1,000 at the end of the month (when rent alone in this area is more than that).
Another 53 year old was laid off from IBM in July 2001. He now has a job as a mascot for a restaurant, running around in a 40 lb fiberglass clam in parades and mall events. He's a college graduate, too!
A 54 year old San Josean is being rejected on the basis that he is "over-qualified." He held titles such as "director" and "vice-president." He also understands that adding employees over 50 years old adds to the cost of health costs and other benefits. He's now talking about moving to another country.
A 62 year old guy has lost his retirement savings due to the stock market crash, and he can't apply for Medicare until he reaches 65. In the mean time, he pays astronomical health insurance premiums. Sad. GWBush is immune to all of these situations, because he has his eyes on Iraq. c.i.

I like the mascot tale. Goes to show you, there are jobs out there!

You're all heart, NH. c.i.

There's hope out there, somewhere!