Dear Vanessa,

I’ve recently been laid off at 58 after dedicating over 30 years to the same industry. I climbed the ladder, poured my heart into my work, and now find myself replaced by younger, less expensive employees who ‘bring fresh energy.’

It’s been a mere two weeks, yet I already feel like I’ve become invisible. The prospect of job interviews fills me with dread. My retirement savings are decent but insufficient for a comfortable retirement, especially with a small mortgage still looming. My husband offers his support, but I sense his worry too.

Part of me wonders if this is the universe’s way of telling me to slow down, yet I’m haunted by the fear that I might never secure a full-time income again. Everyone talks about ‘reinvention,’ but how does one start anew at nearly 60 when confidence has dwindled?

Is there a path forward for someone in my situation, or is it time to embrace retirement, whether I’m ready or not?

Sarah.

Sarah, I hear this story far too often – and not just from women. The shock of redundancy after decades of loyalty is like a sudden identity loss. It’s not just the job that disappears – it’s your daily rhythm, your sense of purpose, and the validation that comes from being needed.

The good news? You’re not done. Not even close. In fact, for many people, their late 50s and early 60s become the most powerful years of their life – if they can shift how they see their own value.

Leading money educator Vanessa Stoykov

Start by reminding yourself: you have something a 30-year-old can’t fake –  perspective. Employers, clients, and even younger teams need that. They might not advertise it, but life experience, reliability, and calm under pressure are gold.

Let’s talk practicalities. First, take stock financially. Sit down with a financial adviser – even just one meeting – to get clarity on what your safety net looks like. Sometimes when we actually see the numbers, the panic eases. You can find someone reputable near you using my free adviser-matching tool here.

Next, rethink your next chapter around your strengths, not your job title. What do people always come to you for help with? What could you teach, mentor, or consult on? The future of work is flexible – contract roles, project work, mentoring, and small business ventures are growing fast.

You don’t need to ‘reinvent’ yourself so much as repackage your experience. The question to ask isn’t ‘Who will hire me?’ but ‘Who needs what I know?’

If you’ve always worked in one corporate world, think laterally: small businesses, charities, or education often value seasoned professionals who can bring order, systems, or people skills. Many of my readers find a new sense of freedom in self-employment – whether that’s consulting part-time, tutoring, or freelancing in something they love.

Also, stay connected socially. One of the hardest parts of redundancy is isolation. Join professional groups or local business networks. The more people who know you’re available, the faster opportunities come. You’d be surprised how many people quietly land new roles this way – often from unexpected contacts.

Emotionally, give yourself space to grieve. Losing a job is a loss, but it’s also a release from the parts of it that probably drained you. Don’t rush to fill the void – use the next few months to rebuild your energy and imagine what would genuinely make you feel alive again.

Finally, don’t let age narratives box you in. The world is full of people over 50 starting second (or third) acts – from small businesses to creative pursuits. You have decades ahead, and the financial and emotional rewards of meaningful work can last well beyond a pay cheque.

You are not redundant, Sarah. The system might not always value experience, but that doesn’t mean it’s worthless. You still have stories to tell, lessons to teach, and contributions to make. Start there.

All the best,

Vanessa.