I know of no more encouraging fact than the unquestionable ability of man to elevate his life by conscious endeavour. - Henry David Thoreau

ARTICLE LIBRARY


Maximizing the opportunity from a severance
Gene Rheaume, CA, CFP


There are really two types of people who need help with financial transition planning. The happy majority of these cases can be classified as ‘windfall’ clients who have lottery winnings, stock option gains or inheritances. Those who are there because they’ve lost their job don’t feel quite as fortunate.

 
People who have become unemployed are often very concerned about this change in their future finances. Employers planning to implement layoffs can maximize the value to former employees by showing some flexibility and being proactive when dealing with their severance arrangements. Former employees receiving a package should consider several items to maximize the benefits from this transition.