Pathfinder Worksheet: What Issues Should I Consider if I Lose my Job?

As the federal reserve seeks to curb inflation by slowing down the US economy, inevitably, concerns about job security and layoffs have begun to pervade the news. For example, a June survey of more than 6,900 professionals on Blind (an anonymous professional website) found that 53% of respondents feel less confident about their job security now compared to one year ago. Further, according to Blind, “more than 450 startups and technology companies have laid off more than 75,000 people in 2022, including more than 20,000 jobs cut in the last three weeks alone.”

To be sure, while much of the layoff buzz has revolved around the technology sector, other industries such as automotive and mortgage lending have experienced job cuts as well.

So, what is a person to do if they find themselves out of a job? Or, if you find yourself concerned about potential layoffs at your company, how can you best prepare? In this week’s Pathfinder Worksheet, we provide you with a checklist of issues to consider if you lose your job. While this may not apply to you (and we truly hope it doesn’t!), perhaps it may be helpful to pass along to a family member or friend who has been impacted by a recent layoff.

The checklist below lists a few topics with specific examples of areas to review. While each one may not be applicable to your situation, perhaps there will be a topic that resonates with you. If you have any questions or would like to discuss this topic further, please don’t hesitate to contact your QA advisor. If you’re new to QA, please click here to connect with us.

 

JOSIAH LARSON
Wealth Management Advisor

 

 

This document has been prepared by fpPathfinder LLC and is furnished to you by QA Wealth Management, a division of Quantitative Advantage, LLC (QA), under license from fpPathfinder. While QA believes that the information in the document provided by fpPathfinder is reliable, QA does not guarantee that the information is accurate, complete, or current, and is not responsible for any loss caused or alleged to be caused directly or indirectly by the information.

QA and its wealth management advisors do not provide legal, accounting or tax advice. Our advisors have general knowledge of certain matters included in this information, but individual situations may require the advice of licensed legal, accounting and tax professionals.

For more information about QA, its investment programs, fees, and the risks associated with the investments which QA may make or recommend, please review QA’s Form ADV disclosure brochure, which is available at www.QAwealthmanagement.com.

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