TRANSCRIPT:

Hi again this is Greg Vojtanek of Fade In Financial. Welcome to part two of this series called What To Do During a Recession or a Market Pullback. Today I’m going to talk about two other areas which is going to be a disruption in your employment and if you’re planning to retire in the near future. So let’s get into it.

Your employment. Were your hours reduced significantly? If so, you may have to revisit your budget. See the first video of this series where I talked a little bit about that.

Did you or your spouse get laid off from work through no fault of your own? Check with your state and see if you’re eligible for unemployment benefits. Even here in California, if you have your own Loan-out company in the Entertainment Industry, you’re still eligible for unemployment benefits.

The second thing I want to talk about today: If you’re planning to retire anytime here in the near future. So let’s consider a couple things here. Review your options to make sure you’re still comfortable with retiring at your current target date. Maybe you prefer, or maybe you have to, work a little bit longer.

The second thing is review your retirement budget and spending during the first few years of your retirement. You don’t necessarily have to reduce your entire retirement years of spending, but perhaps just the first few in order to recover from the recession or the market pullback.

So those are just a couple things. Stay tuned for part three of this series. I hope you found this helpful. Everyone’s different. As always, do what is right for you. I will see you in the next video of What To Do During a Recession or Market Pullback. Thanks for watching.