The Financial Planning Association (FPA) is a nonprofit, leadership and advocacy organization connecting those who provide, support and benefit from financial planning. FPA represents a promise of financial well-being, hoping to create a world where everyone thrives and prospers. Based in Denver, Colo., FPA has 96 chapters throughout the United States representing more than 25,000 members involved in all facets of providing financial planning services. Working in alliance with academic leaders, legislative and regulatory bodies, financial services firms and consumer interest organizations, FPA is the premier resource for the public to find a financial planner who will deliver advice using an ethical, objective, client-centered process.
Financial Survival After a Job Loss
How to get through the tough times between jobs without ruining your financial security.
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Mark Johannessen: Hi! My name is Mark Johannessen. I am a financial planner and a member of the Financial Planning Association, also known as FPA. Today, I would like to share with you some steps you can take to financially survive a job loss, whether you are unemployed now or expect to be.
First, I'll discuss putting a plan in place. Early key moves and decisions can make the difference between surviving financially until you are successfully employed again and making financial mistakes that could jeopardize your financial wellbeing for years to come.
Next, I'll discuss the basics of the severance package. This package typically extends salary and perhaps benefits for a certain dollar amount or period of time. Then, I'll talk about insurance and retirement plans. Finally, I'll discuss creating and spending plan, a basic aspect of sound financial planning as knowing what your income and expenses are and balancing the two.
Before we get started, let me tell you a little bit about the Financial Planning Association. The Financial Planning Association connects those who need, support, and deliver financial planning. We provide a variety of educational resources tools and services to help you discover the value of financial planning and to help you achieve your goals and dreams. Our destiny is to help create a world where everyone thrives and prospers. So let's get started on financially surviving a job loss.