Oy, I really need your advice!

Miscellaneous and Personal Stuff I Must Share
1

Situation: I am 59 years old and have worked for 28 years in the same company, working my way up to a decent job and salary. The industry I am in is failing, and my company is seeking voluntary buy-outs. I would walk out with at least a year’s salary plus a year’s medical coverage (or equivalent cash value), if they accepted my application. I will also have my company pension, but I don’t want to start drawing on that too soon.

My problem is lack of confidence of finding another job that pays even close to what I am getting now. Eventually that severance pay is going to run out, and if I’m not making close to the same as now, I could lose my house (my mortgage is fixed but the payment is about the max I can afford as is).

This lack of confidence comes from the fact that probably 90% of my value to this company comes from my experience with the systems and understanding of the data here. I have a modest skill in Crystal Reports, otherwise my actual experience doesn’t export very well to other industries.

I have native abilities (smart, learn quickly, understand business, get along, etc.) and much of my job experience looks good, but my lack of credentials (I don’t even have a college degree, nor any professional certificates) works against me. Not to mention my age.

Bottom line: I need a professional to help me figure out how employable I am. How do I find a reliable such professional? I have three weeks to figure this out. I live in San Francisco and I don’t want to move. I’m afraid this may be my last chance at a buy-out before the parent company has a fire sale and I’m out of work with nothing (or things could stay status quo for another 6 years until I can retire, who knows?). Plus, those left behind after this buy-out will be working even harder, with less satisfaction.

Ideas? Applicable knowledge? Experience with particular “job search” companies?

(maybe you can tell I’m not real comfortable with insecurity)
Thank you,

Roddy

2

OK, how much do you currently have in savings? I am wondering if you could pay off your mortgage with the buyout money, and have the resulting reduced monthly nut covered for 3-6 months by the balance of your savings. I know that paying off our mortgage would save us about $1000 a month, making the amount we would actually have to pay for cable/internet/phone/electricity/insurance something like 1200 a month.

Have you looked in the papers/job boards/wherever for like positions or positions you could fill? Are there jobs available to you that are similar in compensation to what you have now? If you paid off your mortgage with the buyout, could you take a lesser paying job?

You could try Spherion [a headhunter company for midrange jobs] they handled the Ct op center for State Farm when they closed it out and I was reasonably happy with them.

3

I don’t know of any agencies in your area, so I can’t direct you, but I wanted to wish you luck in your decision and with your future employment. The only thing I can suggest is that you start searching Monster, Hotjobs and such, and see what’s out there. Don’t sell yourself short – the longevity of your career is definitely a selling point in your favor!

4

Can you tell me what your industry is and what specifically your skillset entails? If this is too personal to answer, I understand. I’m trying to gauge how employable you are.