Retiring after being laid off: How to decide if you are retirement ready [Episode 9]

Laid off? Hearing the words “you’re fired” can be very scary. They are words no one ever wants to hear, are often unprepared for.

So, is it possible to retire after being laid off?

 Being laid off stinks. It knocks you down and sucker punches you. Hard. There are a lot of things to consider if you’re ever in that situation and even more so if you’re planning for retirement. Here’s the thing though: if you’ve planned, even a little bit, for retirement, you’re going to be okay.

 Jim, having been laid off before, shares the good, the bad, and the ugly about layoffs. But what he offers in the episode of The Retirement Planning Guy Podcast, is a detailed explanation of what you need to do next to stay on track for retirement. Jim clearly outlines what your next steps need to be, both immediately and later down the line, to understand where you stand, where you need to be, and how to get to retirement.

Jim poses important questions for you to ask yourself after being laid off to determine when retirement will be right for you. Being laid off doesn’t have to impact your retirement plans. It may present retirement more quickly or push it out a few more years than planned, but there are a lot of factors to address before you make a decision about retirement. Jim discusses these factors; how to consider them and weigh them. He also poses different options for retirement after being laid off and encourages us to step back, get a clear understanding, and make well thought out decisions.

 

Relevant Links:

Finding the Right Financial Advisor [Episode 8]

The Retirement Planning Guy

Martin Wealth Solutions