UnThreaded | Threaded | Whole Thread (1) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: Kapri20 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 2  
Subject: planning a strategy Date: 5/9/2009 11:04 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Hi all,

I wondered if people facing redundnacy or in it would like to share some strategies for best use of redundancy packages in a situtation where the timing of the next job is a variable.

I am in line to be made redundant on June 1st with an anticipated package of around $80 k I will look for a new role immediately in the current climate want to use the money wisely in order to be open to a delay in finding a new position.

I should add that I am UK based and have had difficulty working out how to create a new board over there (!) + would value some advice with American oomph. I am not looking for products so much as translatable principles - our economies are similar.

At the moment I plan to pay myself a monthly salary from a high interest account of around $1,800. I have mortage payment insurance so I will not attempt to reduce the principle on my $114 k mortage with a one off payment until the insurance cover is used up (one year) with a one off payment. I will stash away money in a tax free cash savings account - but that is a small proportion of the whole.

Should I also try to trickle money into some sort of investment portfolio (high dividend yield) given the uncertain length of my unemployed status? I would love to be creating an income flow not just using up my capital.

Many thanks for any thoughts, and please forgive the UK intrusion,

Kapri
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (1) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement