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  • Click to view JRD852's profile
    Posted January 25, 2010 by
    Location
    Spotsylvania, Virginia
    Assignment
    Assignment
    This iReport is part of an assignment:
    In need of a Money Coach?

    Unemployed 59 year old male

     

    Sorry, no video. the attched picture was required to submit. It has no bearing on this topic.

    Situation:

    unemployed for over a year, 59 (60 next month) year old, dwindling IRA ($135,000 which is down about 45% from it's high) HS grad, living off wife's two part time jobs (about $25-30K), I have skills nobody is needing now (building materials sales), and skills without certification and my ability to do them is slowly diminishing (home improvement). The last I checked my credit rating was excellent.  I have made some hasty employment choices, and now have a sour employment history.

    I am considering the following:

    (1) Take my IRA money and buy a semi truck to begin another career. I have a CDL class A but not enough experience to get hired as a driver for trucking companies. I am a reasonably competent driver. It seems nobody wants a driver with a plus five (good) points. I had planned on doing this when I retire anyway.

    (2) Take my IRA money and begin to buy repossessed property, renovate it, and resell. I am a qualified remodeler, with all the tools necessary to perform most remodeling jobs. I simply lack the contractors licenses, or certifications. The current housing marked seems ripe for this option. I have done this successfully in the past.

    (3) Transfer all my IRA money, and my house to my wife, get a divorce, and go on welfare.  It has become painfully obvious that I am not a very desirable employee. Too old, and no college.

    (4) got any better ideas?

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