Navigating Life After a Late-Career Layoff: My Story and Lessons Learned

How to turn unexpected challenges into opportunities for growth and a meaningful future

On a beautiful day in June 2018, I went into work as usual. By 11:00 a.m., everything changed: I no longer had a job. At 56 years old, I faced a pivotal moment in my life. I had two options: to panic and cry or to take control of my situation. I chose the latter.

Good morning, everyone. I’m Raina, and welcome to Small Retired Life, where we talk about all things retirement and how to live a meaningful life, even after significant setbacks. Today, I’m sharing my story about being laid off at 56 and the journey that followed.

The Day Everything Changed

The day started like any other. I had client meetings scheduled and headed to a coffee shop to meet with one of them. During the meeting, my phone dinged with a message from my boss. My boss, who worked in a different city, was in the office that day—along with the HR representative. When she asked me to return for a quick meeting, I knew what was coming.

At that moment, I had a choice. I could let panic consume me or face the situation with strength and dignity. I chose strength. When I returned to the office, I calmly entered the meeting room, acknowledged the layoff, and asked my boss to leave. I didn’t want to hear the usual justifications. Instead, I focused on reviewing my severance package and taking control of my response.

Processing the Loss

Losing a job is not just about finances; it’s an emotional journey. That afternoon, I allowed myself to grieve. It’s essential to process the loss of your livelihood and the identity that often comes with it. For me, this meant taking a step back, reflecting on my feelings, and giving myself time to adjust.

Making the Most of a New Chapter

With summer approaching, I decided to take a break and enjoy the season. Calgary summers are brief but beautiful, and for the first time, I allowed myself to fully embrace it. By September, I felt ready for the next step and took a month-long trip to Melbourne to visit my son. It was a meaningful experience that gave me time to think about my future.

Reassessing and Moving Forward

By November 2018, it was time to take stock. I evaluated my finances and career options. At 56, finding a job wasn’t easy, especially in a market where age can be a barrier. After months of searching, I found a maternity leave contract position through my LinkedIn network. This one-year role provided stability and time to decide on my long-term plans.

The Unexpected Turn

In February 2020, my contract ended, and two weeks later, the world went into lockdown. The pandemic brought new challenges, but I’d accumulated enough hours to qualify for unemployment insurance. This safety net allowed me to cover the remaining gap between my layoff and retirement. By the end of 2020, I realized I was ready to embrace retirement and a new way of living.

Lessons Learned

Here are my key takeaways for navigating a late-career layoff:

1. Take Control: Accept the situation and approach it with a mindset of strength and resilience. It’s about how you respond, not what happens to you.

2. Allow Yourself to Grieve: Losing a job is a significant emotional event. Don’t suppress your feelings; process them.

3. Adopt a Growth Mindset: Focus on opportunities rather than losses. Think creatively about how to make the next chapter of your life fulfilling.

4. Evaluate Your Finances: Understanding your financial position is crucial. It will guide your decisions and help you plan your next steps.

5. Embrace Change: Sometimes, life pushes you out of your comfort zone for a reason. Use it as a chance to explore new paths.

A Meaningful Retirement

While this chapter of my story ends here, retirement brought its own set of adventures and challenges. Stay tuned for my next update, where I’ll share how I built a small but meaningful retired life. Thank you for tuning in, and remember to hit the notification bell to catch the next part of my journey.

Until next time, stay positive and embrace the opportunities life throws your way.

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