Am I Too Old to Make Money?

I hope this message finds you well. I recently came across one of your teachings on YouTube about creativity and making money, and it deeply resonated with me. I’m reaching out in hopes of receiving your guidance, or advice from someone close to you, on a personal matter that I’m currently facing.

I am 55 years old and have spent over two decades in the aging field, primarily as a Geriatric Mental Health Educator. Unfortunately, I lost my job three months ago and now find myself at a crossroads. I’ve always loved teaching and training, and I remain passionate about what I do. However, when it comes to managing money and building financial stability, I feel unprepared.

Growing up, discussions around money were scarce in my household, and I was taught that earning it required relentless hard work. For most of my life, I’ve worked multiple jobs just to get by. I currently have a daughter in college, no retirement savings or investments, and I’m staying with a friend.

I’m ready to make a change and develop a new relationship with money, but I’m unsure where to begin, especially as someone who is no longer considered as valuable in today’s job market.

I would be truly grateful for any advice or wisdom you could share for someone in my position—ready to earn and create financial stability at this stage in life.

Thank you so much for your time and consideration.

Warm regards,

Rhonda M.

Dear Rhonda,

If we may pick out one phrase from your letter with which to begin our answer, you wrote, “especially as someone who is no longer considered as valuable in today’s job market.” We know what you mean – many employers are not interested in employees over a certain age. However, we would like to encourage you to change that thought process to, “someone who considers myself valuable in today’s job market.” Don’t allow the mistaken attitudes of others to devalue you in your own mind.

One of the points we make in our books Thou Shall Prosper: The Ten Commandments for Making Money and Business Secrets from the Bible, is that each of us should think of ourselves as in business. If I am an employee, I might have only one customer—let’s say I am a physician’s assistant in a doctor’s office. I am a PA with one customer. Rather than being dependent on that employer, I have skills that I can market in many places although, for the moment, I am only using them in one location. That is a powerful mind shift!

With this new way of thinking, you could look for a new “customer” to replace the one that let you go, but you could also look for many customers. The population is aging. Many senior citizens have children whose lives are chock full with their own families and careers. They may live nowhere near their parents. A growing number of senior citizens do not have any children. With the skill set that you have acquired over your work history, you could make a valuable addition to their lives. We are going to offer a few ideas, but there are many more.

Now more than at any other time in recent history, a huge cohort is retiring or thinking about it. That cohort is the Baby Boomer generation. Many of them built businesses over the years and in many cases, their children have no interest in the business their parents built. Could your teaching abilities help these owners prepare emotionally and psychologically to explore some innovative succession plans?

Here are more niches into which you could fit–helping seniors downsize from a large home to a small apartment or to assisted living, serving as a “concierge” assistant to seniors, and being the eyes and ears for far-away relatives. Yes, there are many low paid agency employees who valiantly fill some of these roles. You would be in a different category—one of your biggest challenges would be pricing your services in a way that reflects what you have to offer.

We must address your daughter in college. Perhaps she is self-supporting and on her own. If, however, you are helping her financially, even if she is only living at home for free, we encourage you to re-assess that situation honestly. Many college experiences and degrees are worse than meaningless today. Even if hers is not, you may need the money you are allocating to her to get yourself set up in a beneficial financial arrangement. A frank discussion should be on the table.

If you found listening to an interview to be helpful, we encourage you to invest in exploring these ideas on a larger scale by investing in our Financial Prosperity Collection. As this program emphasizes, if you find a way to serve other people, the money will flow. The feedback we receive tells us that it has helped many to refocus their attitudes and utilize techniques that allowed them to jumpstart a more prosperous future.

It’s time to blast off!

Rabbi Daniel and Susan Lapin

---

What do you think? We’d love to hear your thoughts on this Ask the Rabbi & Susan post.
We Happy Warrior members can both read and write comments HERE.

Not a member yet? Ask the Rabbi is a reader-supported publication.
We truly appreciate those of you who sign up for a Basic membership. This lets us know we are providing value to you.

---