Skipping college, switching jobs, and navigating office politics: What older Americans regret about their careers
Key Findings:
- Delayed Retirement: Many Americans cannot afford to retire at 65, with nearly 19% of those 65 and older still working.
- Common Regrets: Recurring themes included:
- Education: Not prioritizing or obtaining the "right" education.
- Job Hopping: Frequent job changes hindering career progression.
- Office Politics: Difficulty navigating workplace dynamics.
- Age Discrimination: Facing bias in hiring and promotion.
- Impact of Layoffs: Recent layoffs have exacerbated these issues, particularly for older workers in white-collar roles.
Education as a Factor:
- Lack of Degree: Some, like Lou Nelson (63), believe the absence of a bachelor's degree has hindered their job search after layoffs. Statistics support this, showing significantly higher unemployment rates for those with only a high school diploma compared to those with a bachelor's degree.
- Questionable Value of Degrees: Others, like Lynda Namey (54), pursued advanced degrees that haven't translated into better job prospects, even leading to being considered overqualified. This echoes broader concerns about the return on investment of higher education.
- Limited Education: Grover McBeath (79), who dropped out of school in eighth grade, regrets not prioritizing education, feeling it limited his career options and led to job dissatisfaction.
The Impact of Job Switching:
- Lack of Career Focus: Dawn Habbena (63) regrets frequently switching jobs, which made it difficult to build a consistent career in human resources.
- Layoffs and Instability: Chuck Smith (60) and others, while sometimes benefiting financially from job changes, faced instability due to layoffs, leading to concerns about depleting savings.
- Benefits of Intentional Switching: AARP research suggests that intentional job changes in one's 40s and 50s can lead to better long-term career outcomes, including higher wages and continued workplace participation.
Risks and Workplace Challenges:
- Business Ventures: Michael R. (70) lost significant savings after his toy stores failed during the 2008 recession.
- Contract Work: Mauricia Day (74) regrets relying on contract work instead of securing full-time employment, leading to financial instability in retirement.
- Workplace Conflict: Robbi Sera (59) believes confronting a "company bully" contributed to her layoff.
The article highlights the precarious position of many older American workers, particularly in the face of layoffs and age discrimination. It underscores the importance of education, careful career planning, and navigating workplace dynamics. While some job switching can be beneficial, the article cautions against frequent, unplanned changes. It also emphasizes the financial risks associated with business ventures and unstable employment. The stories shared offer valuable lessons for workers of all ages about the importance of long-term career planning and financial security.