Retirement Hacks: Afraid of a recession and not ready to retire? Do this.

by | Jan 19, 2023 | Stock Market

With talks of company layoffs and a possible recession, it’s prudent for older Americans who aren’t quite ready to retire to have a backup plan.  Retirement Tip of the Week: Look over your resume, go through your list of contacts, brush up on any skills you need for your job and pretend you’re applying for a new one—the preparation will help should you ever need it. 

Some workers are trying to prevent any period of unemployment in the midst of a looming recession, so they’re looking for a new job while still employed. The latest trend is called “career cushioning,” and its main focus is on getting another job quickly should employees be let go.  See: What is ‘career cushioning’—and should you be doing it?  The hiring process can be grueling, especially for older Americans. Ageism exists in the workplace but also the application process, such as through descriptions for ideal candidates. For example, job postings may ask for “energetic” applicants or those who are “digital natives.” There are also phrases such as “recent college graduate” or “five to seven years’ experience,” according to an AARP study.  “Navigating through today’s job market is tough,” said Carly Roszkowski, vice president of financial resilience programming at AARP.  Read: ‘I needed something to do’: How working in retirement is being embraced by older adults and companies Seasoned workers shouldn’t give up though, and there are a few strategies to get ahead of the stress associated with job hunting.  The first step: Review and update your resume so you can easily send i …

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