Changing jobs, even when it's your choice, can be unsettling. Losing a job can be devastating. Regardless of the details, you probably have some doubts about the future. Can you survive financially, and for how long? What do you do with funds from your previous employer’s retirement plan?
Evaluate all of the resources that are available to you. Do you have the necessary insurance coverage to protect yourself and your family? Although it may not be easy, think beyond the short term. Your new situation may impact your long-term investment strategies.1 Adjustments to your retirement plans or your children’s college savings plans may be required.