Part 4/7:
Moreover, the concept of reverse mobility—the fear of being seen as overqualified—often sidelines older applicants for positions where they might be a perfect fit. Employers may dismiss them even when they express a willingness to accept lower-level positions, viewing them as likely to leave as soon as a better opportunity arises.
The Impact on Retirement Planning
The struggle to find work can push older job seekers to draw from their savings or retirement funds, creating a dangerous cycle of financial instability. Many end up starting consulting businesses, leveraging their expertise, yet this is not a foolproof solution given the unpredictable nature of contract work.