Laid Off at Age 55? Here's Why You Shouldn't Rush to Cash Out Your 401(k)
The scary thing about getting laid off is that it can happen out of the blue. And it doesn't matter whether you're new to your job or a seasoned employee. If your company decides it's time to make cuts, your job could end up on the chopping block, no matter how good at it you are.
Getting laid off can be a huge blow at any age. But it can especially hurt in your 50s.
At that age, you may not be so eager to start over at a new company. And also, you might struggle to get hired due to age discrimination -- a practice that's definitely illegal, but also very hard to prove.
Source Fool.com
