4 Steps to Take if You Lose Your Job Near Retirement

4 Steps to Take if You Lose Your Job Near Retirement

Many people are finding themselves out of work right now, and some may be getting close to retirement. If you suffer a job loss near retirement, there are steps you can take to make sure your finances are safe.

1. Assess and Adjust Your Budget.

Do you know what you are spending money on every month? One of the first steps you should take after a job loss is assessing your budget. Sit down and make a list of all of your expenses. Determine what is essential, like your mortgage, car payments and health care. Are there places where you can cut back? You could get rid of cable or any streaming services. This may be difficult, but a smaller income means you need to have fewer expenses.


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