MINT HILL, NC – It’s been called the “Great Resignation” – the large number of Americans voluntarily leaving their jobs because they think they’ve got better opportunities. If you’re part of this movement, you’ll want to take the needed steps to keep making progress toward your financial goals.
First of all, it might be to your advantage to have another job lined up before you quit your current one.
But if you don’t have new employment in place, you might be able to rely, for a while at least, on income from your spouse or life partner. If possible, try to avoid tapping into your 401(k) from your previous employer
If you’ve already established an emergency fund, you could dip into it. However, try to replenish it when you’re earning money again.
Here’s another suggestion: If you’re going work for yourself, don’t wait too long before setting up a retirement plan, such as an “owner-only” 401(k) or a SEP or SIMPLE IRA.
If you have any questions, please contact me at (980) 859-2549 or by e-mail at Brandon.Monette@edwardjones.com
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.