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Finding yourself between jobs can be frustrating. Whether you were fired, laid off, or just had to step away of your own choosing, change can feel challenging, but can also present exciting opportunities. In today’s episode, we’re going to talk about changing careers and cover five financial planning considerations when transitioning into a new job.
During this transition, there will be a lot to consider. Is it time for a new career in a different industry? Is this an opportunity to work for yourself? We’ll discuss these questions and cover some other challenges you’ll face between jobs, such as what to do with health insurance and how to handle severances. We’ll also share some advice for making the most of your old 401Ks and tips for tax planning.
So, if you’re feeling lost, don’t worry. We’ve got you covered! Tune in to today’s episode to learn valuable financial planning strategies that can help you succeed during this time of change.
Here’s some of what you’ll learn on this episode:
- It is time for a new career in a new industry? Or time to work for yourself? Some questions to ask yourself between jobs. [3:32]
- Some health insurance options to explore between jobs. [8:47]
- How to handle severance to support your lifestyle and grow your wealth. [11:02]
- The importance of consolidating your old 401Ks during this transition. [13:50]
- What kind of tax planning should you be doing? [18:00]
Thanks for checking out this episode of the podcast. If you’d like to learn more about financial and retirement planning, check out our YouTube channel here.