Losing your job is always an emotional jolt. During this Great Recession, those of us who work for an organization are always on edge, waiting to see if the axe will fall on us. However, nothing really prepares us for the day when we actually receive our termination notice and are told to clean out our desks. The current blockbuster film, Up in the Air, with George Clooney as the consultant paid to tell employees they have lost their jobs, brilliantly captures the pain people feel when they have lost their chief source of financial support.
Anger, grief and panic are some of the emotions we feel in the wake of this most bitter news. For many folks, however, the blow can be softened by a consultation with a trusted financial advisor. An advisor can bring detachment and perspective to the situation, help her client create a downsized budget, and suggest sources of transition income that the client, who is anxious and upset, may not be aware of.
Do you have a financial advisor? How often have you checked in with him during the past year? Has he served you well? Have you had any interaction at all? If you do not have an advisor, perhaps now is the time to find one. If you have an advisor, but you do not have a high level of trust in the skills and customer service he offers, perhaps it’s time to change advisors.