Unfortunately, working individuals can sometimes find themselves in the position of losing their job. In today’s economic uncertainty, business closures and layoffs are increasingly common. The loss of a job can cause serious stress, personally and financially.
In this checklist, we cover a number of issues to consider if you are facing unemployment, including:
- Severance options, if any are offered
- Employer benefits, including continuation of health insurance, sick pay, etc.
- Eligibility for unemployment benefits
- Budget adjustments
- Health insurance options
- Employer-sponsored retirement accounts, stock plans, and other benefits
- Income tax considerations
- Retirement or future employment options
