From the course: 14 Things to Do When You Lose Your Job
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Consider best and worst case
From the course: 14 Things to Do When You Lose Your Job
Consider best and worst case
- As a financial advisor, when I work with a client on their financial plan, I have to consider a variety of potential scenarios. What is the best case and what is the worst case for their situation? How do we help them protect against the worst while planning for the best? It's important that you take time to do this for yourself, as well. If you're facing a layoff or have been let go, take time to consider the best and worst case scenarios. I highly recommend thinking this through during the beginning of your unemployment journey. The best case scenario should be pretty easy to think about. Let's assume that you get back to work in the near future, in one to two months. If this is the case and you have modest emergency savings, you can likely maintain your current lifestyle without any changes. Now let's talk about the worst case scenario. It's a possibility that you could be out of work for many months or even longer…
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