Yesterday, we talked about ways to avoid losing your job in the coming recession. But obviously there are factors beyond your control which might result in your being laid off, even though you’ve done everything “right.”
So, you need a backup plan.
Don’t wait and wonder what you’ll do. Make a simple plan now for what you’ll do.
Think about some different scenarios and play some mental games with yourself. That way, you’ll be able to better respond to events instead of being shell-shocked by them. Today’s show covers:
- The importance of planning to avoid emotional Stress when you get laid off.
- The direct impact of losing your income and how to plan for it.
- The impact that losing your group benefits can have on your financial life.
- Why you should consider establishing lines of credit before you need them.
- How you can stockpile both Money and the simple necessities of life.
- The simple things you can do that will make it much easier to get your next job.
- The importance of proactively building and maintaining a network.
- How thinking like a consultant will help you now and help you later.
Enjoy!
Joshua
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Joshua J. Sheats, MSFS, is the world's leading authority on integrating lifestyle goals and money goals without conflict. He teaches normal people how to seamlessly connect the science of financial planning with the joy of goal achievement.
Joshua is dedicated to helping normal people achieve financial freedom by merging creative (and crazy) ideas from the world of personal finance with the academic integrity of formal financial planning. He simplifies complex money topics and makes boring financial mumbo-jumbo less boring.
