7 Tips for Getting Hired After Age 50

It may be particularly imposing to locate a brand-new career in your 50s and 60s. The joblessness rate for older employees is less than that of young adult employees, but when unemployed, older employees appear to have a lot more problems landing a new job. 

The typical period of joblessness for job hunters age 50 and older was 45 weeks in November 2015. That's more than 6 months longer than the 32 weeks younger employees stay out of work, according to an AARP Public Policy Institute study of Bureau of Labor Statistics files. 

Right here are a few techniques to discover a brand-new job after age 50.

Begin your job hunt immediately. 

Do not wait until your unemployment ends to begin searching for a brand-new job. "It does look like possibilities are best for the out of work once they leave their occupations, so it may be a smart idea to begin job hunting in earnest right at the start, instead of easing into job hunting while on unemployment," states Joanna Russell, an assistant professor at Texas A&M University who researches age bias. 

A sizable hole on your resume and an increasing sense of annoyance with the job hunt process can make things much more challenging to get employed once again.

Work your network. 

Even though there are definitely numerous modern-day methods to locate jobs on-line and through social media sites, having contacts at the business you want to work for is still among the very best strategies to discover openings and get employed. 

"The No. 1 method to discover a job is through contacts," Russell states. "You can stay away from a great deal of implicit bias if somebody who knows you wants to vouch for you."

Assure a young boss. 

Some supervisors might feel awkward supervising somebody who is more seasoned than they are. 

"The important thing to remember is that the individual supervising you or making the hiring selection might well be younger than you are, and unsure about managing somebody with more experience," states Petrov Dimetrious, an administration professor and administrator of the Center for Human Resources at the University of Pennsylvania's Wharton School. 

"So it is essential to let them understand you are OK with the job you're applying for, that you do not want their job which you are expecting to take instructions from them."

Do not discuss your age or the job interviewer's age. 

You do not wish to call attention to your age by detailing jobs you held over 20 years ago on your resume or discussing your age in the course of the interview process. Equally as important, do not discuss the age of a younger boss. 

"Even when the individual interviewing you is no older than your kids, never ever make any reference to their age, thinly veiled or otherwise," states Joan Anderson, an occupation trainer and author of "Beginning Again: 50+ Tips to Win From Your Dreams in  Semi-Retirement." 

"Making apparently innocent remarks like, 'Did you like college?' might readily be misinterpreted as a contemptuous and unwelcome statement."

Minimize your resume. 

You do not have to incorporate every position you have ever held on your resume. "Do not make your resume a history lesson. Emphasize your latest accomplishments and the new skills you're getting," Anderson states. "In general, you ought to keep the light on the last 10 years of pertinent experience."

Discuss why you're not overqualified. 

Possessing 20 or 30 years of job expertise can make you appear overqualified for lots of jobs. "Make certain your cover letter discusses why you're ideal for the work you're applying to," Russell states. "Explain any gaps or why you're applying for something for which it looks like you're overqualified."

Show your facility with modern technology. 

More mature professionals are frequently viewed as being not able to efficiently make use of modern technology. Make it clear to prospective recruiters that you are tech-savvy and continuing to stay up to date with brand-new developments. 

"I believe the single greatest thing you should do to get rid of age bias is to show your comfort with modern technology and social media sites throughout the interview process," Anderson states. 

"There are lots of various methods to discreetly let prospective companies understand you're tech-friendly: Include your LinkedIn URL on your resume, point out a fascinating article you discovered on the company's Twitter feed or be a regular contributor to industry-related organizations on LinkedIn.

10 Tips to Get Mentally Ready to Retire

When Marty Stroud retired at 65, his retirement savings were not his biggest issue. In fact, he had enough to live comfortably. Marty’s problem was finding a new routine after having spent decades in an all-consuming 9-to-5 job. "I lost purpose. Gardening may have saved my life”, he recalls of his first months of retirement.

Stroud is not alone. According to an Ameriprise Financial survey of retired baby boomers, some common concerns among retirees include:

• Missing out on daily social interaction with colleagues (37%)
• Getting used to new routines (32%)
• Finding ways to give meaning and purpose to their days (22%)

Many retirees know that the change from a full-time job to a life with less structure and purpose can be challenging, especially emotionally.

10 TIPS TO GET MENTALLY READY TO RETIRE

1. CELEBRATE WITH A PARTY

You’ve celebrated every other milestone in your life – new home, new baby, birthdays, weddings and so on. Why not celebrate the milestone called "retirement"? It’s an achievement, especially if you’ve saved enough to live comfortably. You’ve earned it! Get great retirement party ideas on Pinterest.

2. REALIZE YOU DON’T HAVE TO BE ANYWHERE

Gone are the days of waking up early, sitting in traffic and drinking bad cafeteria coffee. You’re now free to lounge in your pajamas and take your time with errands. You can finally focus on doing what you love, when you want to. 

Just remember that at some point, you may start to miss the structure, purpose and community a job provides. Our advice? Create a schedule sooner than later and try to get out of the house as much as possible.

3. ENJOY AGING GRACEFULLY

Do you want to be 18 again? Probably not. With age comes wisdom, self-realization and satisfaction. Enjoy your age at every age. Check out the Advanced Style blog for inspiration and proof "from the wise and silver-haired set that personal style advances with age".

4. EXERCISE AND STAY ACTIVE

Look forward to exercising – now you have the time! You have the flexibility to join classes and activities in the middle of the day when most people are at work. If you prefer walking, hiking or biking, get a friend to join you. A workout partner will help you stick to a schedule and make exercise a lot more enjoyable.

5. KEEP LEARNING

Learn something new, it will keep your mind sharp and add some structure to your day. Check out the City College in your town or Google "adult education" for free or affordable classes near you. There are also lots of online puzzles and games to keep your brain working.

6. SPEND MORE TIME WITH FAMILY AND FRIENDS

Retired or not, this is the #1 wish for most people. Who doesn’t want to spend more time with the people they love? You don’t have to be anywhere between 9am and 5pm on the weekdays, so make a trip to see your children and grandchildren. If you want to be even more involved, you can move closer to family and volunteer your time for babysitting duties.

7. ADOPT A DOG

Share your life with a dog in exchange for unconditional, tail-wagging love. Besides the emotional benefits, your canine friend will need regular walks that will keep you in good shape. Research shows that dog-owners also need fewer doctor visits, have lower cholesterol and blood pressure, and a lower risk of heart attack compared to those who don’t.

8. PLAN FOR THE FUTURE

Just because you’ve stopped working, it doesn’t mean you have to stop planning. With recent advancements in medicine, people are living well into their 90s. Set both personal and professional goals for yourself. Always wanted to run a marathon? Never visited the Grand Canyon? It’s never too late to get started. It’s also important to continue planning and adjusting your finances as you go.

9. LEAVE A LEGACY

What do you want to leave for your family, friends and the world? Research shows the happiest people are those who help others. This may be the time to think about giving back to your community. Leave a positive legacy by giving the gift of your time, knowledge, wisdom or money to local schools, community centers or charitable organizations that are close to your heart.

10. STOP OBSESSING ABOUT RETIREMENT

You’ve probably been anxious about retirement your entire adult life. Now that you’re there, stop worrying. Live for the moment and enjoy being the master of your own schedule.

In Stroud’s case, learning new things helped his transition into a new life. His daily ritual now includes making breakfast for the family and practicing yoga. "My time is filled with activities that inspire me and keep me healthy. I volunteer, paint, exercise and cook regularly," he gushes. “I love my new life!”

Even if retirement seems a long way off, you can start on some of these ideas to prepare for an easier transition. When it’s time to retire, embrace your newfound freedom and make the most of it. For more ideas and tips on how to make the most out of your retirement, emotionally and financially, visit aboutLife.com

1 Ameriprise Study: First Wave of Baby Boomers Say Health and Emotional Preparation are Keys to a Successful Retirement: http://newsroom.ameriprise.com/article_display.cfm?article_id=1963

Author: Lidia Shong from aboutLife

401K Tips and How to Stay on Top of Your Retirement

When it comes to saving for retirement, a mix of investment options is integral to your future success. A 2013 report by the American Benefits Institute states that about 94% of employers offer a 401(k) retirement plan to their employees, yet many employees aren't sure how to get the most out of their plan. Here are some tips for maximizing the rewards of your 401(k).

Take the Entire Match

Plenty of employers offer a full or partial match of your contributions. For example, your company may match 100% of the first three percent and will match at 50% thereafter up to seven percent. Read your plan's details to make sure you're getting all the matching you can. Talk to your employer if they might be able to match more if you have a special circumstance like retiring early. It's free money, so don't leave it on the table and take advantage of everything offered.

Consider Your Tax Withholding

If finding the money to bump up your 401(k) contributions is proving to be difficult, take a look at your take withholding. If you aren't claiming enough dependents, you will receive a larger tax return in the spring. That money could be squirreled away in your 401(k) over the course of the year. Review your W-4 form with your HR department, and file a new one if you are claiming zero or not claiming all your dependents. Find other ways to get more for your money by talking to a professional tax accountant or even your credit card merchant account for bad credit and how you might improve it. This way you can really improve your profile and secure future finances more easily. 

Be Cautious of Age-Related Fund Distributions

Some 401(k) plans offer a target-date fund distribution. On its face, this can be a great idea. Simply input how many years left until you retire and the plan will do your allocations for you. However, this can be a bad idea. If you are young, age-related distribution can expose you to far more financial risk than you might be comfortable with. On the flip side, older workers may have far too conservative choices implemented for them. Look at your entire retirement portfolio to determine your comfort with risk. If you have a paid-off home, an investment in a credit card processor of bad credit, and plenty of cash in your IRA, you may feel fine with accepting some risk in your 401(k) to maximize gains. If your other assets are small, you may not want to take risks. Think this through and allocate your funds accordingly.

Reduce Debt and Spending

If you’re starting late on your savings for retirement make an effort to reduce any debts you may have and cut back on unnecessary spending. This might mean getting rid of the cable, going to free community events instead of the movies, and only eating out once a month. Make up a budget and make sure you have a spending limit for things like gifts and entertainment. If you have debts you need paid off before retirement make sure you work on those first and that a good chunk of your paychecks go to getting the balance down on each one.

A well-funded and smartly allocated 401(k) plan can be a great way to save for retirement. However, it should be just one piece of your overall investment portfolio. Keeping these tips in mind will help you get the most out of your 401(k) and give you the relaxing retirement you’ve always dreamed of.

5 Ways Veterans Can Optimize Their Personal Finances

Becoming a veteran proves that you've served your country. It puts you in a class of your own, but it does bring a few unique challenges with it as many of our veterans today become very poor and homeless due to a variety of circumstances.

Of those challenges, one of the most problematic tends to be personal finance. Obtaining loans, keeping your credit straight, and finding the right job to build a financially secure future are just a few of the challenges you might face.

Let's examine five ways you can optimize your personal finances as a veteran to ensure that you and your family both have bright futures.

1. Seek the Right Job

Hopping from active duty to civilian life can be a drastic change, though the largest difference that most veterans struggle with is acquiring the right job.

To acquire it, there are a few things you can do. Always present your leadership abilities and any technical skills you might have learned while on active duty. Join one of the many networks maintained by veterans to help other veterans acquire jobs and education.

Never settle for a job that's less than what you think you can handle. You're valuable, so never sell yourself or your skills short.

2. Reduce Your Debt

You may have some debt from before you entered the military. Other debts may have accrued while you were on active duty. You may even have taken out a few personal loans to help you get on your feet after returning to civilian life.

The point is that you should begin reducing your debt as soon as possible. Work with your creditors and they'll work with you. This will help you become financially viable in the long run. You might need consider working with a financial consultant to help resolve some of your outstanding debts.

3. Utilize VA Loans

Veterans have access to special VA loans. These typically have lower interest rates than traditional loans, which is why you should always seek to utilize them.

If you're new to VA loans or have questions about them, then utilizing an expert website like Low VA Rates is something you should try. They have 10 years of experience working with veterans seeking to make quality financial investments in real estate.

4. Start Saving for Tomorrow

Bonds, stocks and other methods of financial investment require you to spend some money today for significantly larger returns tomorrow. That's why investing a little at a time now will eventually pay off.

You may not be an expert in finances, but you can make use of stock brokers and mutual funds to help make your future secure when it comes to finances.

5. Save Every Penny

Frugality is the one thing that separates a person whom worries not about money from one whom barely has enough to pay the bills. That's why every penny maters when it comes to making a financially secure future.

The extra pennies you save by choosing to dine at home, opting for store brands over name brands, and buying in bulk can be used to invest in other things. These financial vehicles will pay off in the future, which greatly optimizes your personal finances at a future date.

Making the Most of Your Personal Finances as a Veteran

You may have limited funds now, but stretching them as far as you can while investing in the future will ultimately pay off.

Given the number of options available to you as a veteran, such as low-interest loans for a home and for college education, you need only take advantage of them to optimize your personal finances.