Five Smart Money Moves To Make When You Are Offered A Severance Package

When the consulting companies are done offering advice to your corporation on how to make it more effective, the one word you don’t want to hear from upper management is “reorg”.    Reorg, short for reorganization, if often a labor intensive process where a large organization systematically eliminates a section of the workforce to streamline their overall processes, people, and systems.   When these reductions in workforce happen, one of the possibilities that may occur is to offer you a severance package.    The problem for most families is that decisions have to be made so quickly that people often make poor choices on how to best maximize this package. Here are five smart money moves to make when you are offered a severance package. Double Dip On Pay If your company offers you six months or one year as a severance package, this is not the time to take an extended vacation.   Every month that you can work for a new employer ...

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