Getting fired at any age stings. Getting fired at 64, just two years shy of retirement, with a mortgage still hanging over your head? That's the kind of financial nightmare that makes people pause and ask, what would I do if that were me?
One user put it bluntly in the personal finance subreddit:
"My father-in-law (64) just got fired from his job yesterday. We had known this was going to happen since he had been suspended for the past month. Now, should he apply for unemployment or can he retire already? They still have a mortgage to pay. What should he do?"
It was a raw post that opened the floodgates for advice, stories, and a whole lot of number-crunching.
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"100% Apply for Unemployment"
The first wave of replies came fast and firm. One of the top-voted comments made it clear:
"100% apply for unemployment. The worst they can do is say no."
Another doubled down:
"And even if they do say no, appeal it."
The logic? Even if you don't qualify, starting the process costs nothing but time — and if approved, it buys breathing room while figuring out the next move.
The Social Security Trade-Off
Several commenters pointed out that unemployment might only be part of the solution. Social Security, they argued, was the bigger piece of the puzzle.
One commenter spelled it out:
"Regardless he should file for unemployment TODAY. Was he born in 1955? If so he would get full Social Security benefits at age 66 and 2 months. If he could run unemployment for a while until he is 65 it would only be a 6.7% reduction in benefits. Not terrible."
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The original poster confirmed the timing:
"Yes he was, April of 55."
Another user, already in their 60s, laid out the math in real-world terms:
"I can take SS benefits at age 62, or 66.5, or age 70. The difference TODAY… is approximately $800 between ages… $2000 now, $2800 at 66.5 and $3600 at age 70."
That spread shows why timing decisions feel so loaded. Take the money early and it's permanently smaller. Wait it out, and you might stretch your resources too thin.
The Complications That Matter
Of course, not everyone saw this as straightforward. Some users flagged a detail that could flip the whole situation:
"Was he fired for cause? I am curious because he was suspended for a month. If so, he's not likely to be eligible for unemployment."
Others asked whether part-time work or spousal income could help bridge the gap until Social Security fully kicked in. And one commenter told a story that hit close to home:
"This exact thing happened to my father-in-law in ~2010… He applied for unemployment anyways, and the company appealed. He went to the hearing and was able to beat the company HR lady with facts."
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The Fork in the Road at 64
Even though the thread is archived, the question still hits in 2025. At 64, you're in a squeeze: not quite eligible for Medicare, not at full retirement age, but close enough that a job loss throws everything into question. Add a mortgage into the mix, and suddenly the plan you've counted on for decades isn't so clear anymore.
Filing for unemployment might provide temporary relief — if eligibility holds. Taking Social Security early could solve the short-term cash crunch but would mean reduced benefits for life. Finding part-time or bridge work could soften the blow, though that's no guarantee after being let go.
The real lesson? Retirement planning is never as neat as the charts and calculators make it seem. And readers were eager to point out that what looks like a single bad break can easily turn into a crossroads moment.
For families weighing whether to claim unemployment, file early for benefits, or stretch savings to delay retirement, consulting a financial advisor can help sort through the trade-offs and ensure there's enough income to cover both today's bills and tomorrow's needs.
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