Redundancy in your 50s - advice

[Joyful26]

I got made redundant recently and despite an excellent career history I’m finding it really humiliating going round looking for a job.

I feel at an age and stage in life which is completely different from being in your 20s and early 30s and I should respect that to some extent. So turning up to interviews really bubbly and trying to seem cool about social media are just not right for me now.

I’m single and still have children at school. We’ve wanted a dog for a long time but I’ve never been at home to look after it.

I could be really crazy and live off savings for a few months and get a dog while my children are still at home to enjoy it.

I was also trying to think what wouldn’t be humiliating for me to go for, and wondered about being a child minder.

my confidence has taken a brutal knock. We moved town recently for my relationship. That has ended. I don’t have any friends here. So losing my job has totally wiped out any lifeline.

that’s why I feel like hiding at home with a dog and my children.

I was 60 when I was made redundant. I started trying to get another job at the same level and salary, I'd been a manager in a contact centre. I got nowhere and lowered my aims. I ended up in a basic call centre job for 5 years and it was great, not good pay but no pressure. I finished work on time every day, I had regular days off. It was a way of reducing my workload as I got older.

It can be very difficult getting any sort of a job at the moment. I would strongly recommend looking for any job at all just to keep some money coming in while you also continue to apply for the sort of job that you were made redundant from.

You also need to think about what you are going to do with your redundancy payment.

If you can get another job of any type quickly then you won't need to worry about Universal Credit (UC). If you don't find any work for some time then you won't be eligible for UC at all if you have more than £16,000 in savings (and you won't get the full amount of UC if you have more than £6,000 in savings).

To be eligible for UC you will need to bring your savings down below this level. You don't just need to live on your savings, there are other things that you can spend the money on as well. But you have to do it in a way that is not counted as "deprivation of capital".

If you spend the money "extravagantly or imprudently" then they will count it as though you still have the money. Or, even if you spend it prudently but a significant purpose in spending it was to be able to get UC then they will consider that you still have the money.

So, you have to spend the money as you might if you weren't going to be on benefits in the near future.

If you have any debts or a mortgage then it is perfectly ok to use the money to pay off any or all of your debts, that is fine.

The UC Regulations also say that it will be ok if "they purchase goods and services and that expenditure was reasonable in the circumstances of that person’s case." [UC Regs, Reg 50(2)]

So, for example, if you were to buy a newer, more reliable car, that would likely be fine (unless maybe you're buying a Porsche or something like that) or actually buy a car if you don't currently have one.

In contrast, if you were to buy a second car but you are single and can provide no reason why you might need two cars then they likely wouldn't count that as reasonable.

Likewise, if there were any essential repairs that needed doing on your house then that would be fine as well. Perhaps the roof is leaking or the boiler is broken? Or you need to deal with damp or the house needs rewiring etc.

Or if your home is short of reasonable quality furniture, fittings and equipment, it could also be perfectly reasonable to spend a reasonable amount improving poor living conditions.

But that likely wouldn't include buying the very top-end most expensive things.

Likewise, it may be reasonable to take a reasonable holiday, but probably not an extravagant one.

It is very difficult to give examples of what would be counted as "reasonable" as different UC decision makers may vary and it will depend on your individual circumstances and your previous spending patterns.

You should also keep receipts and a record of how you spend any of your capital as evidence to support your case if you are questioned.

In summary, any large items of expenditure: new furniture, family holiday, repayment of debts etc may be accepted as reasonable expenditure (and brings your savings down below the required level), which you would have made anyway, and so were not a deliberate deprivation of capital.

I think a dog would be a really bad idea financially and also if you’re thinking about becoming a childminder , it would just create more hassle and financial issues . But childminding would be a great idea as gives your flexibility around your own kids and you are your own boss

Sorry made redundant

You can claim "contributions based job seekers allowance" now today
Your redundancy money is not taken into account for a certain time period.
Your National Insurance contributions will be paid while you are not working. These go towards your state pension & other benefits.

Apply today

https://www.gov.uk/jobseekers-allowance

Sadly the job market is really tough when you enter 69s, especially 55+. It almost seems like you have to hand on. Wishing you all the best.

I wonder if dog grooming would be something to train as. Here it costs £60 up North for a two hour groom with an eight week waiting list everywhere.

I took redundancy at 43 from a big corporate job, and thought I'd see if I could make a go of dog sitting. Here I am, 13 years later, still doing it. I do day care and boarding in my home. It's just a normal house with a tiny garden. I have no stress, no pressure, I'm my own boss. I have a licence from the Council which costs £160 a year, and insurance from Cliverton, that costs £160 a year. I charge £35 per night per dog, so with 4 dogs, I make £140 a day. I only take little well behaved dogs. I am fully booked almost every single day. I do take 2 weeks off in Spring and Winter, to go away, but other than that I work every day. Except it doesn't feel like work really. You feed them breakfast and then go walkies, then the same around 4pm. The rest of the time is your own. No way would I ever go back to working for someone else! If you love dogs, maybe try this? All the boarders near me are packed with bookings! I've turned away so many people because I am always full.

God this sounds wonderful! I’d have little dogs in my house for free!!!!

Sympathy, being made redundant is awful and it's hard not to take it personally. Do check out benefits straight away in case nothing turns up in the near future.

Happened to me mid-50s, I ended up working freelance but not full time. Financially a stretch but much better work life balance, and eventually retired early when I realised I could live on much less than I thought.

Take this as an opportunity for a reset and best of luck in finding your path.

How much do you need to earn?

I retired at 57 and my OH (who is 3yrs younger) decided to go PT just to keep his hand in and feel he was doing "something".
He didn't look for jobs in his own field (was fed up of the stress and I agreed with him) but instead went for minimum wage, unskilled jobs doing things had never done before where he could switch off and leave the job at the workplace (warehouse work, shelf stacking, driving vulnerable adults etc).
He was offered every job he applied for and found he really enjoyed the variety, he could have stayed at every job but more often than not they wanted to increase his hours (a boon for many people) so he would look for another role, secure it and then leave the old job. He has been continuously employed PT since (early) retiring 3.5yrs ago.
Just to add, he says that in every one of his jobs the workforce has been mixed (M&F equal split) and older people are definitely in the majority.

Age does NOT have to be a barrier.

I was made redundant in Feb last year. I'm younger than you and am approaching 40 but I've used it as an opportunity to pause and consider life and work.

I found out I was pregnant at the same time as being made redundant and spent the first 2 months frantically trying to get a new job. I got through to the final round of interviews for 2 jobs and just missed out on one of them to a friend. By this point I had had my 12 weeks scan and every thing was looking good pregnancy wise having had 2 miscarriages the year before. I spoke to my partner and we decided that I should take the time and see what came up the following year (this year). I started doing some training to potentially go back into my old field. I developed some poor health so I'm now signed off sick. The pause has helped me clarify what I would like to do next. The thing I have missed most about working is being able to help and assist colleagues. Bringing together my experience and knowledge with there's to make things better. It's broadened my mind towards what jobs would be suitable for me next. I'm probably another 6 months away from being in a position to start looking which will have meant having 2 years out of the work place. My sister has had a heart attack in this time as well and she is only in her mid 40s and alongside my ill health and the general world stuff I've changed my priorities

We have a simple lifestyle which means we don't need my wage and I was able to apply for maternity allowance and now ESA whilst neither is a huge amount of money it has helped.

One of my first line managers gave me some advice I have held on to " you don't get many opportunities to take a pause and decide what to do next so if one comes along, make the most of it". I did this after I graduated and the time helped me make a better decision and it shaped the follow 15 years of my working career.

It is a tough jobs market at the moment, I have friends that have been out of work for 12-18m and finding things difficult so when you are looking for at how long you can afford to weigh up your options factor this in too.

Thanks everyone for your replies. I’m feeling pretty low generally, but I know objectively I will be alright somehow.

I was made redundant from my last job 5 years ago and found it very difficult to find the job I’ve just been made redundant from, which is why I’m taking it really hard.

I weirdly did not know about job seekers allowance and did not claim that last time.

I may also get a reduction on my council tax.

i generally feel very bitter about not being married, as I feel I could throw myself into being a wonderful housewife right now. That all falls a bit flat when you’re on your own. But it’s my own life choices that have gotten me here.

Yes apply for single council tax discount too

Good luck

Correction

Apply for non working council tax discount via your council adap