Reply #24: I once knew an electronic engineer who lost his job at 58. [View All]

[Silverhair]

He was in a specialty involving missle systems. The Clinton defense cuts eliminated his job. People with his skills were applying to the defense contractors that were still hiring, but there were more people applying than there were jobs.

He turned to driving trucks and was able to hang in there until retirement.

Always keep a second skill ready as a parachute in case something happens to your primary job. Have a hobby that can be turned to a livelyhood if need be.

When I was a truck driver, I used the spare time to develop poker skills. It served as recreation when I had runs that went by poker rooms, and I became good enough that my winnings were sometimes more than my trucker pay. I rarely lost. Then, my health forced me quit trucking. But I lived in a city with casinos so I simply became a full time professional poker player. That's what I am today. I had the foresight to develop an alternate skill. And I have another alternate skill now, if poker should become a problem.

Take some responsibilty for your own life. Don't let your lifestyle live up to your pay so that you don't have any room to take a hit when it happens.