38 years at my job and Biden-nomics finally caught up with me---would like input on some guidance.

By Free Republic | Created at 2024-11-15 16:45:47 | Updated at 2024-11-23 14:35:08 1 week ago

38 years at my job and Biden-nomics finally caught up with me---would like input on some guidance.
Me ^ | 11/15/2024 | Me

Posted on 11/15/2024 8:32:44 AM PST by mikelets456

Hello All, After 38 years at my company, I was laid off today. I have never been jobless since I was 14 years old. I could really use the input from you all here---about applying for unemployment, sites to look for a job, what to expect, how to use or invest what I have---here are some items I need help on handling--a side note I'm 57 YO:

1--I took a 401K loan as we had a few rough years and had to pay off some debt. How do I avoid the taxes and defer to the following year? 2--Should I wait for unemployment (to file)? 3--What is a good site to post my application? 4--By law, how long do I have to keep health insurance? I have a neurological disorder. 5--Any other advice.

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TOPICS: Business/Economy; Chit/Chat; Miscellaneous
KEYWORDS: biden; economy; job; pennsylvania

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1 posted on 11/15/2024 8:32:44 AM PST by mikelets456

To: mikelets456

As far as job sites, LinkedIn and Indeed are the leaders. Get current with your resume and post there there, and keep them visible.

2 posted on 11/15/2024 8:36:31 AM PST by fwdude (Why is there a "far/radical right," but damned if they'll admit that there is a far/radical left?)

To: mikelets456

Tax preparer could better help you with tax law questions, but my understanding is that loans aren’t taxable income.

3 posted on 11/15/2024 8:37:07 AM PST by Bayard

To: All

Good luck on a new job. Age discrimination is rampant.

4 posted on 11/15/2024 8:38:09 AM PST by bennowens

To: mikelets456

5 posted on 11/15/2024 8:39:21 AM PST by Red Badger (Homeless veterans camp in the streets while illegals are put up in 5 Star hotels....................)

To: mikelets456

Sorry to hear that. I can speak a little to the health insurance part. I’m retiring on 1/8, and I was told that my health insurance expires on my last day of employment. I think the end-of-insurance is a company-by-company sort of thing, so your HR should be able to provide the details. Under circumstances such as layoffs, they may offer something different. Anyway, best of luck in finding something else; looking in your late 50’s after 38 years is unpleasant, but it could lead to something great.

6 posted on 11/15/2024 8:40:30 AM PST by awelliott (What one generation tolerates, the next embraces....)

To: mikelets456

Cobra can extend healthcare... but you would be paying 100% of premium...

If you were the soul earner... Obamacare might be available at no or little cost...

7 posted on 11/15/2024 8:40:45 AM PST by PigRigger

To: bennowens

To: mikelets456

I was going to comment but I will wait and see what other may advise ( I was 59 when my company was bought by another company and I was let go so I know what you are feeling)

9 posted on 11/15/2024 8:42:40 AM PST by CIB-173RDABN (My opinions are the result of 80 years of life, you may not like them but who cares.)

To: mikelets456

Buy the book Job! by Rick Gillis. It’s amazing. Do exactly what he says. You can even send him your resume and he’ll review it for you.

10 posted on 11/15/2024 8:43:30 AM PST by Texas_Guy

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