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Number of Words: 549
What Does an Unplanned Career Transition Mean for You?
The COVID-19 pandemic has unsettled the country’s employment picture for months and will likely continue to do so for a while. However, the nature and terminology of this disruption varies greatly among individuals – some have seen their jobs disappear, others have been “furloughed” and still others have been offered an early retirement. If you’re in this final group – those either offered, or feeling forced to accept, an early retirement, how should you respond?
Try to look at your situation holistically, rather than strictly in a short-term manner. Consider these four areas:
Going through an unplanned career transition is certainly challenging. But looking closely at the four areas describe above, and making the appropriate moves, may help you reduce some of the stress and can put you in a better position to start the next phase of your life.
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor. Edward Jones.
What Does an Unplanned Career Transition Mean for You?Short /Radio version:
PSA: What Does an Unplanned Career Transition Mean for You?
TBA: Aug. 17, 2020
Words: 185 (excluding FA’s name, address/phone number)
The COVID-19 pandemic has unsettled the country’s employment picture and will continue to do so for a while. If you’ve been offered an early retirement, how should you respond?
Look at your situation holistically. For example, what does retirement really mean to you? Would you like to fully retire, or would you prefer to work part-time? If you would rather not work anymore, do you need to adjust your planned retirement lifestyle?
How about your income? If you take early retirement, will you need to start tapping into your 401(k) and IRA early? Should you adjust your investment mix? What other sources of income will you have available?
And don’t forget about health insurance. If you lose your employer’s coverage, can you get COBRA or negotiate an extended severance package?And if you depended on a group life insurance policy from your employer, do you now need to consider private coverage?
Going through an unplanned career transition is challenging. Considering your options and making appropriate moves may help you reduce some of the stress – and position yourself to start the next phase of your life.
This is (FA’s NAME), your Edward Jones financial advisor at (Branch address or phone #).
Number of Words:185