This is very similar to what my father did around the same age, though in a different field (construction). The company he was VP at went into Chapter 11, he to

This is very similar to what my father did around the same age, though in a different field (construction). The company he was VP at went into Chapter 11, he took a few of the people who worked for him, started a small company, and took over all their contracts (this was done amicably, they even rented equipment from the company). He did very well.