It can be unplanned, such as a company or organizational downsizing. At other times, the employee makes the decision to switch employers or careers.
Either way, that change can be financially or emotionally jarring if it isn’t planned and implemented properly regarding one’s finances. The change doesn’t have to be adverse with proper planning. Even more so, this can present opportunities for improvements in your financial picture and in your career.
How Fragasso Can Help
At Fragasso Financial Advisors, we can help guide you through the many considerations that accompany this type of a transition. Maybe you’re considering a buyout or severance option. We can run projections to help determine the best option for your unique situation. Do you have retirement plan assets with a former employer? If so, you will likely need to make a decision about what to do with your retirement plan savings. Take the time to consult with a financial advisor and consider all your options.
Are you with an organization or company experiencing downsizing?
Fragasso has educated professionals in outplacement situations often times over the years. Through our financial education seminars, employees become more comfortable with their financial arrangements and can identify the best course of action to prepare for the future.