Recently fired from your job? Then you’ve got work to do. No not office work. But the tasks that arise as a result of your recent employment status change. (A nice euphemism for getting canned eh?) Below is a checklist of things to consider after you’ve been terminated from your job.
The “Getting Canned” Checklist
1. Roll over your 401k. Hopefully, you invested in your companies 401k. Investigate your best options, but you’re often better off rolling it to a brokerage retirement account where you’ll have more control over your investment options and cut back on high fees.
2. File for Unemployment. Don’t be ashamed. You paid into unemployment insurance and are entitled to the benefit while you work on getting your next paying gig.
3. Consider if the termination was discriminatory. Wrongful terminations do happen. If you think you might have a case against your former employer, read on to get more information about wrongful terminations here.
4. Start a blog as a way to make a side income. If things are looking less then fantastic regarding getting your next traditional job, consider other options. For many people, the decision to start freelancing and earning money independent of an employer is a pivotal moment where they took control of their lives. Even if you love working at a traditional job, it’s great to have the supplemental income you generate on your own.
5.Travel. There’s often no better time in life to travel than the time that exists in that small the space between jobs. It’s not easy when you’re not sure about the future of your income, but I guarantee you once you’re back on that payroll, you’ll wish you did more with your time and your freedom while you had it.
6. Budget. Your income has been cut off or decreased to whatever unemployment might provide. Consider some changes.
7. Make sure you have health insurance. If your job provided health insurance, most employers are required to offer a plan to continue your insurance under laws established called COBRA. These are often more expensive than your coverage as an employee. You can also visit the government’s health insurance offerings at the health insurance marketplace.
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