Finance with Blake Wendt - October 11

Yeah, so depending on your financial situation, you might be okay to stretch out those years with personal assets.

If not, then it's good to just start the application process and just try to find another job.

Often with a redundancy, there's effectively a payout or a termination payment, which in some cases can be all tax-free, depending on how long you've worked there for.

But certainly start the job hunt.

Don't sit around and say, I'm just going to take a month off and see how we go.

Just start that.

start sending through applications it can be a long process as well and it can be quite daunting as well so that's why you know we often see people putting it off and they say well I'm just going to take some time off as a way to get around that but certainly just have a look at your financial affairs try to cut back on spending where you can just all common sense stuff here just you know reduce your spending if you were planning on going on a holiday of some sorts and you're thinking well I don't really want to spend $10,000 going overseas now.

Let's just cut back a bit, do that.

Don't spend money where you don't have to spend it until you get another job.

But if your financial circumstances allow for you to take some time off, great.

Just make sure it's not going to impact your retirement plans.

So if you were going to get to 60 years of age and you're going to have X amount of dollars in your super, but that's not going to be the case anymore, how does that change things in retirement? And that might be a motivator to try to get back into the workforce.

difficult because there's elements of discrimination based on age that take place.

So it's tough.

But just try as best as you can.

Just get that income coming back in.

Be smart.

131873, if you want to speak to Blake, get on the phone now.

Please don't leave it until we get up to the end of the hour because we will run out of time.

So 131873, if you want to speak to Blake.

Yeah, so depending on your financial situation, you might be okay to stretch out those years with personal assets.

If not, then it's good to just start the application process and just try to find another job.

Often with a redundancy, there's effectively a payout or a termination payment, which in some cases can be all tax-free, depending on how long you've worked there for.

But certainly start the job hunt.

Don't sit around and say, I'm just going to take a month off and see how we go.

Just start that.

start sending through applications it can be a long process as well and it can be quite daunting as well so that's why you know we often see people putting it off and they say well I'm just going to take some time off as a way to get around that but certainly just have a look at your financial affairs try to cut back on spending where you can just all common sense stuff here just you know reduce your spending if you were planning on going on a holiday of some sorts and you're thinking well I don't really want to spend $10,000 going overseas now.

Let's just cut back a bit, do that.

Don't spend money where you don't have to spend it until you get another job.

But if your financial circumstances allow for you to take some time off, great.

Just make sure it's not going to impact your retirement plans.

So if you were going to get to 60 years of age and you're going to have X amount of dollars in your super, but that's not going to be the case anymore, how does that change things in retirement? And that might be a motivator to try to get back into the workforce.

difficult because there's elements of discrimination based on age that take place.

So it's tough.

But just try as best as you can.

Just get that income coming back in.

Be smart.

131873, if you want to speak to Blake, get on the phone now.

Please don't leave it until we get up to the end of the hour because we will run out of time.

So 131873, if you want to speak to Blake.