Redundancy brings with it some of the biggest lifestyle decisions you will have to make.
While redundancy is a financial decision for a company – coping with redundancy is a personal challenge which can dictate your short term financial decisions and setback your long-term goals for your life and dependants.
The silver-lining of redundancy however, is the opportunity it gives you to evaluate what you have enjoyed in your career choices, what you spend your money on, what you like doing for leisure, and how many of those things you actually need to do to live a fulfilled life. It can also provide you with a large lump sum payment, which brings along with it a variety of investment opportunities.
Whether you have been made redundant, or taking a voluntary redundancy, there are some definitive financial choices you can make immediately while the bewilderment and mental stresses take a little more time to become clear.
To assist you in managing the process we have compiled a Redundancy Guide, available for download, to assist you in understanding:
- Your redundancy payment, entitlements & tax.
- How it will practically affect your current lifestyle.
- If you’re over 60, how you can turn redundancy into early retirement.
Being informed with the right advice for your personal circumstances, supported by one of our financial advisers at JVA, is critical to making the best decisions for your future, starting now.