According to 24/7 Wall Street, some of the country’s most well-known companies including Citibank, Sears, Washington Mutual, AT&T, IBM Merck, Ford, Circuit City, Rite-Aid, Gap, and AIG will need to cut thousands of jobs before the end of the year in order to make ends meet or improve earnings.I’ve worked with thousands of professionals who were downsized from their organizations. Some saw the writing on the wall well in advance and others were totally blindsided. If you lost your job tommorrow, would you have a financial plan in place to carry you through a six to twelve month search? People who proactively manage their finances and create a financial safety net tend to have more productive searches and make better decisions about future employment opportunities…decisions that are fueled by passion for the work and a fit with the corporate culture rather than an immediate need for money. If you think you need to do a better job of planning for your financial future, here are some free resources from financial planner, Paul Levy of UBS.
