Where Will the Income Come From?
What's the major concern of most people during a career transition, especially an involuntary one? NO PAYCHECK. Are you asking yourself: "What am I going to do to pay my bills?", "Where will the income come from?" The answers vary, of course, depending upon your financial position.
For one thing, you need to understand that there are different economic stages of your loss of employment, from your first notice to unemployment insurance. You should build your financial planning around this series of stages.
There are several methods of providing supplemental income. You might also consider taking out a loan or tapping into your retirement assets. This section also includes a comparative chart that lets you see at a glance what the best way to borrow might be for you.
Investments and Insurance products:
|NOT FDIC INSURED||NOT BANK GUARANTEED||MAY LOSE VALUE|
|NOT A BANK DEPOSIT||NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY|
Securities and advisory services are offered through Santander Investment Services, a division of Santander Securities LLC. Santander Securities LLC is a registered broker/dealer, Member FINRA and SIPC and a registered investment advisor. Insurance is offered through Santander Securities LLC or its affiliates.