The Importance of Financial Planning in a Redundancy Situation

25 February 2019

Any major life change often leads people to sit down and re-evaluate what they want from life. Losing one’s job is certainly one of these events.

Your job has been the source of your income that has paid for yours and your family’s lifestyle. Your job may have been a major part of your identity. At this crossroads in your life, it is not uncommon to reassess your happiness and consider alternative options such as: 

  • A change of career  (sector/ profession). 
  • A change in working pattern/ hours. 
  • The opportunity to back to education or retrain. 
  • Consultancy or contract work.
  • Owning and running your own business.
  • Early retirement. 

These BIG questions will often need to be answered with reference to you and your family’s financial situation. Money may not buy you happiness but it does give you more options.  A significant redundancy settlement could give you the means to make some big changes leading to greater fulfilment and happiness. 

According to experts, Cranwell James Financial Planning Ltd, it is important to help people with their decision making by answering the big financial questions that underpin their options? For example: 

  • Have I saved enough for my future to makes some life changes? 
  • Can I afford to retire or reduce my working hours? 
  • Can I afford to take the time to re-train? Has this new financial situation given me some breathing space?
  • Do I have the funds to start a business of my own and finally become my own boss?

A redundancy situation can provide the perfect opportunity to step back and review your financial health. Professional advisers can support individuals to truly understand their financial situation and discuss aims and hopes for the future. Modern financial planning software now enables scenario planning which helps individuals make informed decisions as well as create peace of mind.

 

For further information about financial planning services visit http://www.cranwelljames.co.uk.

 

Words from our Clients

I have no hesitation recommending Two Sixty. The coaching support was perfect. Within two weeks I was on shortlists for posts and succeeded in securing a new job within a month. The service helped me to achieve this in such a short space of time.

Senior HR Professional, Retail

Call Two Sixty Outplacement
Support today on 0161 4087011

or

Registered in England No: 5766631

Registered Office: Two Sixty Limited, 82 King Street, Manchester, Lancashire, M2 4WQ



Assocation for Coaching CIPD
Close
loading...