For those of you who have lost a job,

[sroz]

Brutal - you can draw from your 401k before 59 1/2 without penalty. I sat down with fidelity when I was 55 and they explained it to us. A few co-workers have checked with their financial planners after I told them and were surprised it is possible. A co-worker just retired in Dec. at 58 and is drawing without penalty. I believe the main point is you have to identify a withdrawal amount and stick to it until 59 1/2. So, be sure it's enuf for what you will need and account for a possible unexpected expense.
Check with your financial planner to verify and get the details. Hopefully, it's not something you will have to work thru. Good luck.

[brutal]

Brutal - you can draw from your 401k before 59 1/2 without penalty. I sat down with fidelity when I was 55 and they explained it to us. A few co-workers have checked with their financial planners after I told them and were surprised it is possible. A co-worker just retired in Dec. at 58 and is drawing without penalty. I believe the main point is you have to identify a withdrawal amount and stick to it until 59 1/2. So, be sure it's enuf for what you will need and account for a possible unexpected expense.
Check with your financial planner to verify and get the details. Hopefully, it's not something you will have to work thru. Good luck.

Thanks, I'll keep that in mind.

The company did offer early diversification from the stock plan two years ago, but it wasn't the right timing for me, nor did I meet the requirements anyway. No indication if/when they will offer it again.

I think I should probably start reaching out to a planner to go through some of these what-if's so I can sleep a little better at night.

[brutal]

Look at .gov side. I dunno if it's just my particular location, but a lot of our Engineers/Architects are older guys.

Thanks, How is your AS/400 friend doing at finding work?

P.S. I know Cabela's was looking for someone, but it required a relocate to Sydney NE, Omaha, or a commute to Westminster (longshot location) and no telecommute. However, I haven't seen the position posted still for a while. However, that place is a grinder from what I've heard over the years.

OP, BTW, sorry to go off the rails in your thread.

[CS1983]

Thanks, How is your AS/400 friend doing at finding work?

P.S. I know Cabela's was looking for someone, but it required a relocate to Sydney NE, Omaha, or a commute to Westminster (longshot location) and no telecommute. However, I haven't seen the position posted still for a while. However, that place is a grinder from what I've heard over the years.

OP, BTW, sorry to go off the rails in your thread.

Unsure. I think he is just consulting now.

[Robb]

"Thank you for applying for the Engineering Documentation Specialist at *** *** Systems. At this time, the position has been eliminated due to restructuring. As such, we must rescind our offer of employment."

Damnit! it just keeps getting better and better...

[CS1983]

Eek. You could always write back that they might need help in documenting the restructuring and how to integrate seamlessly with the transition from the old system?

Keep at it! You'll get something eventually.

[th3w01f]

I've been following this thread and one thing I want to add about LinkedIn is that on top of a lot of jobs being posted there, the social networking side of it can be used in unique ways. For instance, if you're interested in a position at a company you can see if any of your contacts have a direct relationship with the hiring manager, recruiter or someone else in the company. Having an introduction can be a huge asset if there are lots of people applying. I get contacted at least once or twice a month to give feedback about a candidate to a hiring manager at our company and others in the tech industry.

I used LinkedIn to get my current job (10 years ago). I was working for a large tech company and decided I'd had enough, I looked up the competitor I had been dealing with for the previous year and found their two employees in Colorado. I sent both of them a connection request in LinkedIn with an explanation of who I was and why I was interested in joining and 6 weeks later I was here. Not many job sites where you can do something like that.

[brutal]

I've been following this thread and one thing I want to add about LinkedIn is that on top of a lot of jobs being posted there, the social networking side of it can be used in unique ways. For instance, if you're interested in a position at a company you can see if any of your contacts have a direct relationship with the hiring manager, recruiter or someone else in the company. Having an introduction can be a huge asset if there are lots of people applying. I get contacted at least once or twice a month to give feedback about a candidate to a hiring manager at our company and others in the tech industry.

I used LinkedIn to get my current job (10 years ago). I was working for a large tech company and decided I'd had enough, I looked up the competitor I had been dealing with for the previous year and found their two employees in Colorado. I sent both of them a connection request in LinkedIn with an explanation of who I was and why I was interested in joining and 6 weeks later I was here. Not many job sites where you can do something like that.

I'm strongly considering reaching out to some of the competition... I do have a few old acquaintances at one or two of them and there's never been any adversarial issues or bad blood/bad mouthing of any parties.

Just not sure they're actively looking for anyone with my particular set of skills, or someone in the industry my age that isn't in management... Seems these job slots just don't come up, which may explain how they're getting filled without advertisement.

I'm really in a quandary. I keep believing that my pipeline is going to run out, but mysteriously, we've managed to sign up enough work to string me along a little longer. I'm loyal enough to the client's not to just walk away and leave them high and dry, yet anxious about my future if I don't actively work to make a move.

Regardless, I really think the tap runs dry Q3 except for a few annual support contracts that just don't generate enough work/revenue to keep me above my utilization requirement. The client's are also loyal to me, but my non-compete is likely to kill any potential carry over unless I can work a deal for the company to relinquish them.

[Robb]

Just thought I'd report in, in case anyone else is in my shoes.
I got an offer the other day, another contract/temp job which really disappoints me, but it's a well timed band-aid or a turniquet as the case may be. I've used up all my unemployment and was working through our savings. I've applied to over 800 positions I felt qualified for here in the Denver metro area, so it isn't easy, or it hasn't been for me at 58. Only slightly better than fast food wages again but frankly I'm happy to have it.
I was on Indeed every single day, including weekends, had my share of interviews but it's damn rare I come in first place. It shouldn't be, there's no reason for it, but at least I have a little cash flow again.

[Jamnanc]

FYI I believe non compete clauses are unenforceable in CO if it interferes with your ability to find work. See the attorney generals web page. Unless you are sharing company secrets you should be good.