June is “Pink Slip Lemonade” month on The Career Change Financial Planner blog
(Quick link to all Pink Slip Lemonade posts)
I was recently asked to do a presentation on financial planning for the unemployed — and those who fear they may soon join the ranks — for Network for Work, a local networking group. In doing the research to prepare for this, I discovered a couple of things:
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While there is an incredible amount of information on this topic out there, it is not distilled into any one easily digestible resource.
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Being laid off is usually viewed as a financial disaster. Truth be told, it certainly can be, but there are a few $ilver linings. Don’t forget that some receive fairly generous severance packages, and it’s not unusual for that money to become the catalyst for a much-desired lifestyle shift. Even if you find yourself among those whose income heads south in the wake of a layoff, the fact that you are – probably temporarily — in a much lower tax bracket than you’re accustomed to means you may now be eligible for some unexpected tax breaks.
So I decided to make “Pink Slip Lemonade” the theme of this blog for the month of June. The goal is to answer the question: “If I have already been laid off, or expect I might be soon, what can I do to make the best of the situation, from a personal financial planning perspective?” In other words, how do you make “Pink Slip Lemonade” from the (pink) lemons you’ve been handed? I can’t promise to make anyone love getting laid off or being unemployed but I do hope to shine some light on a few possible upsides to your situation.
So be sure to check out all the posts in the Pink Slip Lemonade series!
(Plan B: make yourself a Pink Slip Lemonade, and party like it’s 1999 until the economy recovers. Chef Patti of Anastasia’s Table personal chef service is currently hard at work perfecting the recipe, so watch this blog for a future post on how to make this refreshing drink! *** 6/5/09 Update — Patti has completed her testing and released the recipe. 7/21/09 Update — Find an archive of all four Pink Slip Lemonade recipes here. Enjoy! ***)
Hi Sherrill,
As usual, you have approached this topic with humor and intelligence. The Network For Work group is really looking forward to your presentation.
On a personal note, having tasted several delicious recipes made by Patti Anastasia, I am also looking forward to the Pink Slip Lemonade cocktail recipe! Facing life’s challenges with a positive outlook, a smart financial plan, and a tasty beverage sounds like an excellent strategy to me!
Thanks!
Tammy Hildreth
Co-Founder, Network For Work
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[...] Because so much financial information is needed right now for career changers and those between jobs, I want to highlight a fantastic series of blog posts that Sherrill did in June. In this series aptly titled Pink Slip Lemonade, Sherrill – along with some guest bloggers — cover a range of financial planning topics relevant to the laid-off and the employed-but-worried, highlighting strategies that enable families to survive — and even thrive — in these difficult times, as well as better weather future financial storms. Click here to read Pink Slip Lemonade. [...]