When my retirement plan exploded
After my savings sank with the economy, I found myself somewhere I hoped I'd never be: The unemployment office
Lori Kamlet looks at posted employment opportunities at a Denver employment office. (Credit: AP) I was one of the lucky ones. A childhood friend loved to point that out to me, especially if I started to sound like I was complaining about my high-paying job. She worked just as hard as I did. She put up with just as much bullshit from The Man as I did. But, in her mind, she was entitled to a little whining. I wasn’t.
My friend believed my success was the result of things over which I had little control. Brains. Looks. Skin color. It didn’t matter how hard I worked; it didn’t matter how much pride I swallowed to survive the corporate cesspool. I was lucky. She was not.
My so-called luck wasn’t worth much when the Great Recession That Is Really a Depression set in. I was just as laid off as my next-door neighbor. One day I had a job, the next day I didn’t.
I had already retired from my 25-year corporate career when things started going south. Prices were skyrocketing, and my retirement money wouldn’t last as long as it was supposed to. I would have to unload my beloved home of 17 years sooner rather than later. The house needed updating to be competitive in what was fast becoming a buyers’ market. I had hundreds of thousands of dollars in equity, so pulling some of that money out to remodel made all the sense in the world.
Until it didn’t. I had already completed the refinance and the remodel when I became uncomfortably aware of the softening of the housing market. By the time I was able to complete a sale, it was a short sale that took me 18 months to cajole the bank into accepting. I had lost all my equity, of course. My retirement plan was in shambles, just like my nerves.
I had also taken a full-time job making less than half of what I had been earning before retirement. The small sales training company foundered when its corporate clients began slashing training budgets. The paycheck that had allowed me to make my mortgage payments without dipping into my 401K vanished overnight. I begged the employer to give me the proper paperwork so I could collect unemployment benefits.
As I searched for paid employment, it soon became clear my full-time job had become doing battle with my mortgage lender. I was ashamed of having to go, in person, to the unemployment office and wait for hours to apply for UI. No matter how many people told me there was nothing to be ashamed of, I still was. This was my first dance with “government handouts.” I had never received any kind of government aid and I was raised to believe that was something I could be very proud of. I felt foolish. I felt like a failure. And I was so ashamed.
But I realize that, when I look at the larger picture, I am still lucky. Throughout the recession, I have never had to worry about my next meal or my next month’s rent. Yes, it’s now rent instead of a mortgage, which at one time would have been a devastating step down for me. I can get by on a small pension and Social Security, plus the small amount I have left in my severely depleted retirement account. The lights are on, the heat is on, and the dog is still a pampered diva.
I feel a strange sense of relief that I am no longer collecting unemployment because my benefits ran out. And that luck, for which I have been so envied, did send my way a six-month writing contract that added welcome new funds.
I don’t search for a job anymore. At 67, I feel guilty taking a position from someone who needs it more than I do. My life has changed dramatically and permanently, but it is not a bad life at all.
One thing I have learned for sure: Unemployment is just as much a state of mind as it is a fiscal reality. It does something horrible to a person’s self-esteem. It has absolutely nothing to do with poor work habits or contentment with government handouts. It sucks. I would tell you to ask my next-door neighbor if you don’t believe me, but you can’t. He committed suicide a year ago.
F**ked: Fighting the stigma of joblessness
In the second episode of our new video series, unemployed Americans battle shame and speak out about their plight VIDEO
Tens of millions of Americans are involuntarily jobless, but being unemployed still carries a stigma.
“Many people hadn’t told their families or friends, because they were ashamed,” explains Sam Talbot, an unemployed cook, in the second installment of our new video series “F**ked: The United States of Unemployment.” “Some people didn’t want to be on camera or mentioned by name because they were ashamed or afraid they would be discriminated against by employers.”
Watch the video below to see what happens when the 99ers decide to confront the unemployment stigma head-on by traveling to Washington, D.C., for the One Nation Working Together Rally:
Continue Reading CloseImmy Humes, a NYC documentary filmmaker, has produced stories for PBS, NBC News, and Michael Moore. Her short film, "A Little Vicious," was nominated for an Oscar. Her latest feature, "Doc," is a saga of the post-war generation of New York writers and of madness. Her web site is http://www.thedoctank.com/ More Immy Humes.
The shame and pride of joining food stamp nation
For me, signing up for the most stigmatized benefit felt like a defeat and a victory VIDEO
Another food stamp resident (Credit: AP) “Mister Cook! Chris Cook? Mr. Cook! Window three!”
I walk through the pasty government-issue fluorescent light and bureaucratic cinderblock waiting room, ushered into the inner sanctum of welfare benefits review. I feel oddly privileged, striding past rows of glum, tired, bored and frustrated faces; how have I been picked out so quickly, after just 15 minutes of sitting?
Getting inside doesn’t mean you’ll get approved, but, like waiting in a doctor’s lobby, sheer movement into a different room gives one hope. Progress.
Continue Reading CloseChristopher D. Cook is an award-winning journalist and author. His work has appeared in Harper's, The Economist, the Los Angeles Times and elsewhere. He is the author of "Diet for a Dead Planet: Big Business and the Coming Food Crisis." He can be reached through www.christopherdcook.com. More Christopher D. Cook.
The GOP’s unemployment trap
Romney and Gingrich aren't talking about unemployment for a reason: Because they don't have any solutions VIDEO
Job seekers stand in line at a Career Fair in San Francisco on Jan. 18, 2012. (Credit: AP/Eric Risberg) The unemployment rate is gradually trending down. That’s the good news. The bad news is that by any civilized standard, the current state of the labor market in the United States is an ongoing atrocity.
As of December 2011, there were 13.1 million unemployed workers in the United States, an increase of more than 5 million since the Great Recession officially began in December 2007. Even worse, 5.6 million of those workers (42.5 percent) fall under the category of “long-term unemployed” — they’ve been jobless for 27 weeks or more. Since the end of World War II, we’ve never seen anything close to such a disaster; the previous high, in the aftermath of the 1981 recession, was only 25 percent.
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Andrew Leonard is a staff writer at Salon. On Twitter, @koxinga21. More Andrew Leonard.
The real story of America’s unemployed
In a new video series, "F**ked: The United States of Unemployment," Salon humanizes our epidemic of joblessness VIDEO
Before “We are the 99 percent” emerged as a rally cry from Zuccotti Park to the Port of Oakland, another group identified with this number — but for a very different reason. A handful of New Yorkers whose 99 weeks of unemployment benefits had expired were frustrated that political leaders seemed resigned to a future of austerity instead of figuring out how to put Americans back to work. These “99ers” realized that if they wanted to change things, they would need to get organized and fight back.
Continue Reading CloseImmy Humes, a NYC documentary filmmaker, has produced stories for PBS, NBC News, and Michael Moore. Her short film, "A Little Vicious," was nominated for an Oscar. Her latest feature, "Doc," is a saga of the post-war generation of New York writers and of madness. Her web site is http://www.thedoctank.com/ More Immy Humes.
We want you to get pissed about “F**ked”
Our series asks: What happens when your unemployment benefits expire and you still haven't been able to find a job? VIDEO
Update: Announcing the F**ked Sneak Preview Webcast – See Details Below
What happens when your 99 weeks of unemployment benefits expire and you still haven’t been able to find a job? Academy Award nominee Immy Humes explores this question in Salon’s upcoming video series premiering Jan. 24.
Humes follows “99ers” in “F*cked: The United States of Unemployment,” a documentary about the long-term unemployed and their struggle to survive and fight back.
Continue Reading CloseQuincy McCoy is Chief of Operations for Salon Studio at Salon. More Quincy McCoy.
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