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chris954

chris954

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been told today that as of the end of the month i will be unemployed. a 51 year old steel worker. what chance have I got of a decent job now, if I'm lucky I'll end up in Asda greeting people and collecting trolleys. Thats one of the consequences of cheap fuel. Most of our work was oil field work and because of Saudi Arabia and the USA flooding the market with cheap oil to boost their economies, the rest of the world suffers but this is what Saudi is trying to achieve, cripple the worlds oil suppliers then whack the price up when theyre the only ones producing.. you have been warned cheap petrol is a short lived luxury, enjoy it while you can...
 
Sorry to hear that :( Can only hope that something positive comes along for you.
 
Sorry to hear that. Agree with summary, although the oil price will go back up if history tells us anything, 3rd oil job recession I have been in, out of work since August, now delivering wine for Majestic until Xmas, no idea after that. If it goes on too long we will lose our ability to design N Sea platforms and so our gas will be imported. Oh dear.
 
Sorry to hear this Chris, but hang on in there. Think carefully about what you want to do. Make sure that you highlight your skills in the best possible way to new potential employers, and the very best of luck - I really mean that.
 
It's about time the car industry made all their cars electric and any other industry reliant on oil then we can we tell the Saudis etc etc to shove their oil wells.
 
chris954 said:
been told today that as of the end of the month i will be unemployed. a 51 year old steel worker. what chance have I got of a decent job now,
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The best advice I can give is try not to lose hope or even if you do project a positive confident image to family and prospective employers. A positive and confident can do attitude might just help keep spirits up at home and might sway the balance and open doors for you. Other than that, keep cultivating any contact and try and make new ones you think might help you.

If you do end up at ASDA make the best of it and you never know you might rise through the ranks as I'd imagine that they have quite a few just going through the motions. Even what initially looks like a disappointing dead end job could be the start of something.

Best wishes and hoping you can put up a good fight and surprise yourself.
 
There are many times I fancy ending up in B&Q serving with the other OAPS as I struggle to meet another deadline...

As one door closes, another opportunity opens, although that may be a change to lifestyle. You have to remain positive.
 
chris954 said:
been told today that as of the end of the month i will be unemployed. a 51 year old steel worker. what chance have I got of a decent job now..
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I was 52 when i went full time freelance photographer and I will be 60 next time and still a full time freelance photographer.... Stop thinking its the end of the world.. its a crossroads is all ...
 
KIPAX said:
I was 52 when i went full time freelance photographer and I will be 60 next time and still a full time freelance photographer.... Stop thinking its the end of the world.. its a crossroads is all ...
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I'd have to agree with that.
 
Byker28i said:
There are many times I fancy ending up in B&Q serving with the other OAPS as I struggle to meet another deadline...

As one door closes, another opportunity opens, although that may be a change to lifestyle. You have to remain positive.
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KIPAX said:
I was 52 when i went full time freelance photographer and I will be 60 next time and still a full time freelance photographer.... Stop thinking its the end of the world.. its a crossroads is all ...
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Fully agree with both. Take the opportunity to very briefly dwell on it, get the anger out of the system and enjoy yourself whilst doing that. But don't stay in that place.

These things happen for a reason, they'll present a great opportunity. Your challenge will be to quickly figure out what that opportunity is. I'm confident you'll end up in a better place.

Good luck.
 
sorry to hear of your unemployement, but be positive. First opportunity go and sign-up to an Employment Agency, I ended up working in Factories, on the Bins, etc. but not only does it feel as if you are providing for your self and others, it puts you out there and maybe get a Job out of it, plus if a prospective Employer sees that you are active Workwise you would be more likely to get that Job than the next Bloke who just sat at home taking the (so called) benefits.
 
frank said:
It's about time the car industry made all their cars electric and any other industry reliant on oil then we can we tell the Saudis etc etc to shove their oil wells.
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That's a great idea. Then forget about making rubber, plastics, tarmac for roads and lots more vital things. The Middle East is the only place we can get the heavy oil needed for that. Is it not apparent that if we could have dumped ME oil we have been out of that hell-hole years ago.
 
arclight said:
That's a great idea. Then forget about making rubber, plastics, tarmac for roads and lots more vital things. The Middle East is the only place we can get the heavy oil needed for that. Is it not apparent that if we could have dumped ME oil we have been out of that hell-hole years ago.
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We also have to realise where some of the essential metals etc., needed in battery technology come from ........ and the increase in supply that will be needed

very sorry to here about that Chris, and although I have been retired for some time I still help with work relating to keeping engineering skills in the UK and generally redeployment and I know how difficult it is and has been for many people

good luck ........ I know that it is obvious, but it is important to act as quickly as you can to find a new job and not just wait a few weeks or so before you get moving, (I am sure that you won't but it is something we notice as to how quick people become re-employed) - I'll PM you with a link, it is engineering based but it may help
 
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frank said:
It's about time the car industry made all their cars electric and any other industry reliant on oil then we can we tell the Saudis etc etc to shove their oil wells.
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That'll add a few thousand extra to the UK unemployed too.
 
I retrained as a plumber about 10 years ago as I became unemployed.

Probably the best thing that ever happened to me workwise.
 
Same age and industry as me.
Got finished in Feb, did a bit here and there but got back in with my old company 6 weeks ago with work up until Christmas at least so there is a bit out there.
Hope it's not too long until you get something decent.
 
It's a bummer when it happens, but as others have said, try to look at it as an opportunity.

Good luck, Chris.
 
thanks for all the positive messages. I'm starting to come to terms with it now the initial shock's worn off. On the positive side there will be enough redundancy money to pay my mortgage and other debts off with quite a bit left over and my other halfs got a reasonably good job so its not the end of the world.I've applied for everything I can find and am waiting for responses but its still early days. Also getting positive responses from employment agencies saying I have plenty of useful experience which makes me feel a bit better,I just cant stand wondering how long its going to be before I get back into work.fingers crossed.
 
When a couple of my mates (both early 50's) were made redundant just over two years ago, they set themselves up doing odd jobs, decorating, gardening and cleaning etc. They are keeping very busy, earning more than enough to supplement their redundancy money and working whatever hours they want really.
 
chris954 said:
thanks for all the positive messages. I'm starting to come to terms with it now the initial shock's worn off. On the positive side there will be enough redundancy money to pay my mortgage and other debts off with quite a bit left over and my other halfs got a reasonably good job so its not the end of the world.I've applied for everything I can find and am waiting for responses but its still early days. Also getting positive responses from employment agencies saying I have plenty of useful experience which makes me feel a bit better,I just cant stand wondering how long its going to be before I get back into work.fingers crossed.
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Don't expect much in terms of response, just doesn't happen these days, apparently it isn't personal, sure feels it though. Those that want to interview you will respond, assume those that don't respond aren't interested, even big companies with big, presumably under worked HR departments in your industry don't respond, poor form really.
Best of luck in whatever you do going forward.
Matt
 
Good luck with getting a new job. Especially filing in the online Asda application, I tried some years ago and gave up after the 4th attemp.
 
Good luck. Just a word to say that you might want to give the idea of paying your mortgage off a bit more thought. Yes it is a nice feeling to be mortgage free (I've paid mine off twice) but don't panic over it, that money could be put to better use, especially as interest rates look like remaining quite low for a while yet.
 
beyond the blue said:
Good luck. Just a word to say that you might want to give the idea of paying your mortgage off a bit more thought. Yes it is a nice feeling to be mortgage free (I've paid mine off twice) but don't panic over it, that money could be put to better use, especially as interest rates look like remaining quite low for a while yet.
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I second that, I'd leave it until you have secured another job and just have a relatively small amount leaving your redundancy money each month rather than reducing it by a large amount in one hit.
 
at the risk of going into too much detail and boring people, I still have an endowment mortgage so I contacted the endowment company to see how much the policy was worth. If I let the policy run to term (just short of 4 years to run) then I will be about £1200 better off than if I cash it in and pay it off now.I'm thinking pay it off, get rid of the debt then whatever happens I'll still have a roof over my head.Its only going to take just over £4000 out of my pay off to settle the mortgage.
 
chris954 said:
at the risk of going into too much detail and boring people, I still have an endowment mortgage so I contacted the endowment company to see how much the policy was worth. If I let the policy run to term (just short of 4 years to run) then I will be about £1200 better off than if I cash it in and pay it off now.I'm thinking pay it off, get rid of the debt then whatever happens I'll still have a roof over my head.Its only going to take just over £4000 out of my pay off to settle the mortgage.
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I would remortgage for the lowest fixed rate which is a heck of a lot less in interest than the £1200 you are on track to gain for a £4000 mortgage. Then just keep this float aside in a bank account only to be used for paying the mortgage. You will be quids in, why give that away to anyone? No difference in the roof over your head situation at all.

Ps. Don't forget the council tax as well. Paying for your house isn't enough unfortunately.
 
dejongj said:
I would remortgage for the lowest fixed rate which is a heck of a lot less in interest than the £1200 you are on track to gain for a £4000 mortgage. Then just keep this float aside in a bank account only to be used for paying the mortgage. You will be quids in, why give that away to anyone? No difference in the roof over your head situation at all.

Ps. Don't forget the council tax as well. Paying for your house isn't enough unfortunately.
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Agree :plus1:
 
dejongj said:
I would remortgage for the lowest fixed rate which is a heck of a lot less in interest than the £1200 you are on track to gain for a £4000 mortgage. Then just keep this float aside in a bank account only to be used for paying the mortgage. You will be quids in, why give that away to anyone? No difference in the roof over your head situation at all.

Ps. Don't forget the council tax as well. Paying for your house isn't enough unfortunately.
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beyond the blue said:
Agree :plus1:
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Actually I may have made a mistake there, although the the sentiment remains the same. Naturally not remortgage as then you'll loose that £1200 from your endowment. Just stay as you are and put the money required to pay off the £4000 aside, that is unless you pay £1200 in interest over the next period which hopefully you don't come anywhere near.

Bottom line, don't start giving money away. Especially not now.
 
chris954 said:
at the risk of going into too much detail and boring people, I still have an endowment mortgage so I contacted the endowment company to see how much the policy was worth. If I let the policy run to term (just short of 4 years to run) then I will be about £1200 better off than if I cash it in and pay it off now.I'm thinking pay it off, get rid of the debt then whatever happens I'll still have a roof over my head.Its only going to take just over £4000 out of my pay off to settle the mortgage.
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I'm with you. (y)

Not saying that the advice above is not good, but to me, I'd pay it off & then don't need to think/worry about it. Peace of mind is worth a fortune! :cool:
 
the actual mortgage stands at £27,850 and the endowment is now worth £23,650 . I pay £50 a month interest and £75 for the endowment so for the period of the mortgage its going to cost me another £5500 and the endowment will pay out an estimated (not guaranteed) £30,300 giving me a return of £2450 but I will be paying £1500 more out so its actually less than I thought. I would be getting less than £1000 back.Plus theres not many mortgage lenders out there who will take on such a small amount over such a short period, or have I got my sums wrong.
 
I'm pretty sure an endowment mortgage means an interest only mortgage and an endowment policy so even if you were to cash in the endowment there would be no requirement to use those funds to pay off the mortgage as long as the mortgage is settled by the required date in the contract.
 
Be careful cashing in an endowment linked to a house loan, my insurers paid the debt off before I even saw any of the money, bstds.
Matt
 
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