Redundancy, whether voluntary or mandatory is an uncertain time for many, raising questions on the future for yourself and your loved ones. Depending on your time of life it brings with it a raft of possibilities, changes and considerations.
If you have already been made redundant, at-risk or just hearing rumours around the office or shop floor, now is the time to review your finances, protect yourself financially and plan ahead. It's beneficial even for those that haven’t been affected to take the time to consider planning for a situation of this type, to be ready if the time came and ensure you have contingency plans in place and ready to go. By preparing as early as possible, you can be ready and confident you have a plan and hopefully bounce back quicker and stronger.
We can help you to prepare yourself, financially and minimise any potential fallout, as well as maximise the benefits from any redundancy payout. Working out what to do at redundancy, can become complicated and having an expert on your side can make the process simpler.
Things you may want to consider or ask
- How much am I entitled to?
- Tax implications
- What about my pension?
- Dealing with debts
- Mortgage planning
- Investments and savings planning
- What about the impact on insurance – current or future policies
- Holiday pay or non-cash benefits and redundancy
- Budgeting for the future or retirement options
It is great to have an IFA who understands family, you are central to the security of our finances without ever having pressured us to buy. Thanks Chris for seeing us through the recent turbulent market conditions, without your guidance we would have found ourselves shipwrecked for sure
Mr & Mrs R&C M - Nottingham