Downsized Exec
How we help downsized executives
When people lose their jobs, their primary concerns tend to be twofold:
- How long it will take to find their next job?
- What is the impact if they don’t earn as much in their next role?
One of the most common mistakes during a period of career interruption is not making any financial adjustments, with the expectation of landing a new job quickly. When weeks stretch into months (and beyond), finances can get stretched.
We work closely with clients to assess their future opportunities. We also outline strategies to best utilize their existing assets during this transitionary period. We do this by building a comprehensive financial plan. This plan can model a range of scenarios, which could include a best case, a worse case, and something in between. For some clients, this presents an excellent opportunity to assess if self-employment is a viable option. Financial planning helps our clients understand the financial implications of these various possible outcomes. It also provides a framework to help them evaluate future job offers.
Involving one’s spouse in decision making is important during a time of transition. Caring for Clients can help facilitate such conversations, which can result in less tension at home.