I'm posting on behalf of my father. And I would like serious answers from ladies and gentlemen over the age of 30. This is a very serious matter, and I have no time for games or stupid answers.
My father is 50+ years old and has been layed off from his previous job for 18 years. Unfortunately, he did not have a 401k as a back up. He has been living off his savings. And it has came down to the wire, where he has enough money to pay this months bills and then that's it.
He has worked in a casino industry for 18 years, 15 of them which were as a supervisor. He is having trouble finding another job. Either his age, or his employment background- something is killing his chances. He has a 12 year old boy, living with him as our mom is dead beat and out of the picture.
As you can imagine, my father is very stressed out. He has submitted over 70 applications and résumés since November. He is having to tap into his credit card funds, to pay this months bills. I have offered him to move in with me and my fiancé. But he is convinced he will find a job.
I am quit worried about my father and brother, as I am only 23 and I have never been in this position. I am afraid I can not offer him advice, only a shoulder to cry on and comforting words of encouragement.
I do not know what advice to give him, so I'm reaching out to you. Any advice on "dummying down" his résumé without insulting his true qualifications and potientals. Advice on financial issues, and living situations. Anything would be most appreciated, as I said before; I do not what to do.
Please serious answers only from adults who have been in this situation. Preferably 30 and older.
Most Helpful Guy
well im not over 30, but I can offer some advice. Firstly, i wrote a a three part series on here geared towards men on how to thrive economically and survive in todays changing climate.
^But this was largely geared towards younger guys... not people in your dad's situation. But I go into more specifics concerning my investment philosophy in part III which might be more useful to him. Anyways, he needs to avoid using his credit card to fund his current lifestyle at ALL costs. If it means he needs to get a smaller place, he's got to do that. The only thing that could make his current situation worse is if he has a huge bill on his credit card and has to pay interest rates that are sky high.
I think the first thing he should do is consider signing up for welfare and food stamps until he can get back on his feet again. There's no shame in that. That's what it was made for... for people like your dad who have fallen on hard times and need some support until they can get back on their feet again. Is he renting or does he have his own house? Because if he has his own house, he should considering renting a room to someone. That can help with his monthly expenses. He can also try to start his own business of some sort... something that isn't too capital intensive that he can pretty much pick up on his own.
For instance, what im doing now is learning how to make mobile apps for android/apple phones. Costs me nothing to learn, because all the stuff you need to know is available for free online, and if i can make an app that does well (something like flappy bird which was made by one guy in two days, and made him about $50k per day at the peak of its popularity), i can have quite a nice thing going for myself. Basically, he'd have to find something that he can give away easily that everybody (or some niche market) wants.
Lastly, any sort of extra money he makes, he should be trying to invest at least a small portion of it. Don't make the assumption that investing is only for the big boys with deep pockets. Take this story for example. This guy named Theodore Johnson use to work as a UPS delivery driver, basically making nothing more than minimum wage (only made $14k a year). But with the money he had left over, he consistently invested in his company's stock in the stock market... and so by the time he retired, he has $70 million dollars
Investing and paying yourself like this is super important. Hopefully, some of these suggestions help him. Good luck :)1