Spent it? Trusting that AHV & 2nd pillar would be enough to secure their retirement? (As the government tells you). Maybe planning to live comfortably on some savings - though being unemployed for a few years might very quickly eat them up.
2 Likes
I can answer on the IT fields, but maybe is the same in banking. If you are an expert in just a single thing and there arenât many people expert in that thing, you will sooner or later find a job. Say you are an expert in Ada, if there are a job for Ada developers, they get you instead of getting someone with C#,Java,Asm,Ada in their CV.
1 Like
That makes sense, but the comment and question was about sectors, not technologies.
You can develop in e.g. Java in full-on tech company, pharma, banking, financeâŠ
I guess one benefit could be the experience in the âwatersâ of the specific industry sector (i.e. how the business runs, what are the pain points etc.).
But for it to be a downside and so important vs. (transferable) skills, such that people wonât hire you because of experience in other sectors, is surprising to hear.
I guess I am naive and still donât have enough miles under my shoes.
1 Like
Hi @Anna,
Have you considered working as a freelancer online? You will probably not make as much as a normal job here in Switzerland, but you will probably manage to at least cover your living expenses and not have to eat up your savings (especially if you own your house as I seem to have understood from your messages).
There are places such as UpWork where you can sell any kind of consulting service you could imagine, even very specialized ones. You have probably already seen or thought about it, but I thought I would share it, just in case it has not yet crossed your mind.
I hope it helps and best of luck with everything.
3 Likes
Reading this discussion causes me to want to save up enough money by the time Iâm 50 to not be concerned by this type of situation.
Also makes me want to give people over 50 another chance next time I need to hire someone, even though Iâve been burnt badly last time.
All the best.
6 Likes
Totally! My initial goal was to reach my number by the age of 55, now thinking about 50.
4 Likes
You should actually aim for 45 as social charges increase after 42 years of age. Additionally please remember that in some situations you do not qualify for a loan without an income even if the value of your primary residence by far exceeds the loan and you have not a hefty only 2nd pillar but assets to cover the loan as a whole. The renewal of my primary residence loan was rejected by every single financial loan institution in Switzerland due to my Geneva residency. Seems single women without employment, resident in Geneva, are a poor credit risk. have a roof over your head.
2 Likes
You mean 45?
My current goal is before 40, somewhere in 2025, I should also be eligible for the citizenship that year.
2 Likes
Absolutely, aiming at being financially independent at ~50 (or before if you can) is not only a nice project or a feel-good effect, but actually will contribute to save you for real.
3 Likes
Dear yetanothername, I too have been burnt by hiring older talent in the past. I have also been burnt by millennials who refuse to apply their intelligence and expect everything served on a platter. While I have to agree that many of my contemporaries lack flexibility, IT skills and energy there are just as many that are more conscientious and independent adding great value for money and stability as they know it is near impossible to find another job.
Test for curiosity with new technology and be brutal if the first three months donât work out.
4 Likes
Sorry to be an ass but imagine replacing âpeople over 50â with âwomenâ or âgay peopleâ in that statement
2 Likes
@Bojac Thank you for correcting me. 44 is the legal age to increase the charges which is why you want to be financially independent at 45.
2 Likes
Iâm very sorry to hear about your experience Anna. I had heard that the system is stacked against people over 50. I truly wish you will find a place where your experience and insights are appreciated. If itâs any consolation, I know at least one employer (mine) where people can retire from technical jobs. One of our developers is close to retirement and another colleague of mine just turned 60. Heâs our go to cloud guy.
1 Like
I wonder why that âbarrierâ is at 50, when social charges increase at 45.
Maybe an irrational idea that â>50â is somehow too old to hire?
Isnât there a change coming that wants to bring % up at an earlier age to avoid this situation / make the difference smaller?
@LeStache The barrier today is most likely at 45. Fortunately when I was 45, 10 years ago, this was less pronounced.
One should note that these are just total minimum rates, my company:
20-34: 6.5% me 6.5% company
35-44: 9% me 13.5% company
45-54: 9% me 20.5% company
55-65: 10% me 27.5% company
2 Likes
@Cortana This mirrors my last company. I have tried to sell myself at a low salary cost and/or decreased company contribution. Most realistic for me now is independent contracts to circumvent the hefty 27.5% company contributions.
I get why itâs hard to get hired at that age.
- Higher salary than the youngsters
- Much higher social contributions on top of that
- Risk of injury/illness leading to invalidity is higher
Wish you good luck.
3 Likes
This is so nuts, And at the same time society is getting older and older. In 2019, more people turned 65 than people turned 20, as the article below says,
How will all those people survive who rely entirely on the first two pillars?
1 Like