Comments on: How To Survive A Layoff While You Are Young http://www.moneycrashers.com/how-to-survive-a-layoff-while-you-are-young/?utm_source=rss&utm_medium=rss&utm_campaign=how-to-survive-a-layoff-while-you-are-young personal finance blog Fri, 20 Nov 2009 01:58:57 -0600 http://wordpress.org/?v=2.8.6 hourly 1 By: gemroy http://www.moneycrashers.com/how-to-survive-a-layoff-while-you-are-young/comment-page-1/#comment-6548 gemroy Sat, 09 May 2009 08:13:23 +0000 http://www.moneycrashers.com/?p=801#comment-6548 Hi! My name is gemroy, I am very much interested with your blog. I have added your site on my blogroll, hoping to get an exchange link with you. Is that okay? Thank you. Hi! My name is gemroy, I am very much interested with your blog. I have added your site on my blogroll, hoping to get an exchange link with you. Is that okay? Thank you.

]]> By: steven@hundredgoals.com http://www.moneycrashers.com/how-to-survive-a-layoff-while-you-are-young/comment-page-1/#comment-6547 steven@hundredgoals.com Fri, 08 May 2009 14:35:14 +0000 http://www.moneycrashers.com/?p=801#comment-6547 I am 26 and was recently laid off from my job. The first thing anyone who is laid off needs to do is file for unemployment. This is crucial, especially for those who don't have any sort of emergency fund. The next thing they should do is look into what programs are available to help them to get support. The local job centers have resources to help with a job search and resume workshops. The next thing that should be done is to rollover their 401(k) into an IRA or wait to roll it over into their next employer's plan, but under no circumstance should they cash this account out. The tax consequences of doing so just aren't worth it. For some people it may be worth considering returning to school. Explore your options about what is best for you and your situation and your goals in life. This is a great opportunity to realign yourself towards accomplishing your dreams. If all else fails, then you might want to look at delivering pizzas, but I wouldn't resort to that as my first option. Use your network to make some contacts to get a line on possible job openings. I am 26 and was recently laid off from my job. The first thing anyone who is laid off needs to do is file for unemployment. This is crucial, especially for those who don’t have any sort of emergency fund. The next thing they should do is look into what programs are available to help them to get support. The local job centers have resources to help with a job search and resume workshops.

The next thing that should be done is to rollover their 401(k) into an IRA or wait to roll it over into their next employer’s plan, but under no circumstance should they cash this account out. The tax consequences of doing so just aren’t worth it.

For some people it may be worth considering returning to school. Explore your options about what is best for you and your situation and your goals in life. This is a great opportunity to realign yourself towards accomplishing your dreams.

If all else fails, then you might want to look at delivering pizzas, but I wouldn’t resort to that as my first option. Use your network to make some contacts to get a line on possible job openings.

]]> By: Todd Sorrel http://www.moneycrashers.com/how-to-survive-a-layoff-while-you-are-young/comment-page-1/#comment-6546 Todd Sorrel Wed, 06 May 2009 22:49:28 +0000 http://www.moneycrashers.com/?p=801#comment-6546 Great stuff you have out here. I love the fact you aren't hiding your Christian faith. I echo your thoughts in financial responsibility on my blog at iiavillage.com. It focuses on independent insurance agents but concepts such as these bridge to all industries. Keep up the good work, Erik! - Todd Great stuff you have out here. I love the fact you aren’t hiding your Christian faith. I echo your thoughts in financial responsibility on my blog at iiavillage.com. It focuses on independent insurance agents but concepts such as these bridge to all industries. Keep up the good work, Erik! – Todd

]]> By: Ryan P Smith http://www.moneycrashers.com/how-to-survive-a-layoff-while-you-are-young/comment-page-1/#comment-6545 Ryan P Smith Wed, 06 May 2009 21:50:04 +0000 http://www.moneycrashers.com/?p=801#comment-6545 Another tip is to volunteer some of your newly gained free time at a non-profit. It allows you to meet people, helps mitigate the "gap-in-employment" question and will help stay positive. Another tip is to volunteer some of your newly gained free time at a non-profit. It allows you to meet people, helps mitigate the “gap-in-employment” question and will help stay positive.

]]> By: Craig http://www.moneycrashers.com/how-to-survive-a-layoff-while-you-are-young/comment-page-1/#comment-6544 Craig Wed, 06 May 2009 19:12:56 +0000 http://www.moneycrashers.com/?p=801#comment-6544 I was in a situation and can tell you it is not easy. Living at home helped out a lot because my bills were low. Being young means you really have no financial responsibility to others. Helps when making the transition. Keep your contacts open, look for jobs and eventually you will be working again. I was in a situation and can tell you it is not easy. Living at home helped out a lot because my bills were low. Being young means you really have no financial responsibility to others. Helps when making the transition. Keep your contacts open, look for jobs and eventually you will be working again.

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