What's the major concern of most people during a career transition, especially an involuntary one? NO PAYCHECK. Are you asking yourself: "What am I going to do to pay my bills?", "Where will the income come from?" The answers vary, of course, depending upon your financial position.
For one thing, you need to understand that there are different economic stages of your loss of employment, from your first notice to unemployment insurance. You should build your financial planning around this series of stages.
There are several methods of providing supplemental income. You might also consider taking out a loan or tapping into your retirement assets. This section also includes a comparative chart that lets you see at a glance what the best way to borrow might be for you.
First Commonwealth Bank and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.