Comments on: How to Deal with a Job Loss

By: Pinyo

Pinyo — Mon, 09 Mar 2009 16:29:25 +0000

@Four Pillars – Depending on the situation, a visit to the lawyer may be worthwhile for some people.

@Debbie – I completely agree with your statement. In fact, I advocate building multiple income streams as a career in one of my article.

@PFincome – Thanks, but I have to admit that I need to be more aggressive with my job search.

@Writer’s Coin – I updated my article with your suggestion about unemployment. Thank you.

@Andy – Thank you for the compliment. I wish I can fully fall back on my blog, but it’s only generating about 25% of my total income right now. I still have a long way to go.

@Dave – I wish you the best of luck with your job search. Keep us posted on your blog.

By: Dave

Dave — Sat, 07 Mar 2009 17:00:08 +0000

Great advice Pinyo… I am actually ‘living’ this advice as I navigate my layoff experience and I can vouch for every step you outline… great advice and keep up the good work.

Dave

By: andy

andy — Sun, 01 Mar 2009 00:37:14 +0000

Sorry about the news Pinyo. But you always have this blog to fall back on, which I am sure is doing well for you. All your tips are spot on, but at the end of the day dealing with a job loss is tough and family support is key.

By: Miguel

Miguel — Fri, 27 Feb 2009 22:05:30 +0000

These are some great tips. In addition to Writer's Coin's tip in filing for unemployment, a couple of additional recommendation should be to update your resume. With so many people seeking a job, people need to be creative and leverage tools to make sure they are noticed by prospective employers. Earlier today, the following article was posted that includes all kinds of helpful information for people looking for a job: Job Searching With Social Media. One more interesting site is Visual CV. The reality of job loss is that no one knows when or if it will really happen, which means it is critical to prepare for the unexpected. At least, that is what we recommend to our policy holders at State Farm. As you outline, activating these steps requires some preparation in the event of a losing a job. That means evaluating personal finances by establishing a monthly budget and regularly putting money way into an emergency. We often urge our customers to incorporate the cost of potential insurance deductibles – auto, home, health, and others – in the event a claim. I'm curious to know what your thoughts and perceptions are about the role insurance plays when facing unemployment.

By: Bear

Bear — Thu, 26 Feb 2009 22:45:16 +0000

These days, being unemployed, or expecting unemployment, is scary indeed. If you’ve been laid off, it’s ok to allow yourself a few days on the “pity-pot.” After this, it’s time to hunker down and develop an action plan. Treat your job hunt just like any project you might tackle at work: create a task list with goals and due dates.

My advice to job seekers: do your best to network and locate contacts you may have in a target company. Avoid clicking the ‘Apply Now’ button on the job boards — you’re competing with thousands of others and the recruiters are overwhelmed. Find a way to get noticed by hiring managers – get a phone number and/or email address and get your resume in front of them.

By: Writer's Coin

Writer's Coin — Thu, 26 Feb 2009 11:37:32 +0000

One big thing is missing: filing for unemployment. That should be the very first thing you do before starting these tips, don’t you think?

By: pfincome

pfincome — Thu, 26 Feb 2009 02:30:17 +0000

Good to hear that you are being proactive instead of reactive to possibly losing your job. I think it always helps to be looking and keep your eye out for opportunities – no matter how secure you think your job is. Good luck to you in whatever happens!

By: Debbie

Debbie — Wed, 25 Feb 2009 15:39:16 +0000

Instead of waiting for the inevitable job loss the state of our economy should be a kick in the pants to form the plan B our financial lives need. Read any book on wealth building and they will all tell you that the best way (some say only way) to achieve financial freedom is to be your own boss. When you work for someone else you will always be at the mercy of the economy, your employer, and taxes. Having your own business, especially one you can work from home, can provide an excellent source of income, tax write offs and more free time to do what you really want.

I love working for non-profits but they don’t pay enough so I started an online business that is paying well enough that in about 1 to 2 years I will be able to work for the non-profits without worrying about a pay check.

Don’t let job loss get you down. Take action to get your own future started.

By: Neal Frankle

Neal Frankle — Wed, 25 Feb 2009 14:09:30 +0000

This is really a great tip sheet.

My favorite is…..ALL OF THE TIPS!

I also know that, if asked, many employers will help. In this economy, they probably feel bad about letting people go and I think many people will do whatever they can to help.

Thanks

By: Miranda

Miranda — Wed, 25 Feb 2009 13:28:44 +0000

I like this list. I especially like the “don’t sign anything you don’t understand” point. I would also look at preparing to roll over any retirement accounts.