Thinking of Taking the Buyout?

The formal announcement that we are, and have been, in a recession for nearly a year comes as no surprise to those of us who’ve been living it for the past year. Despite the fact that we all knew that the U.S. economy was in a recession, hearing it announced officially made investors nervous. As a result, the stock market took another dive. In a single day more than half the gains made since the November 20th crash were lost.

Likely even more companies will be closing their doors or at the very least trimming jobs from their budgets. Perhaps your organization has begun offering a buyout to its employees. There are probably dozens of questions swimming round your head. Should you:

• Take the buyout?
• Jump in on the first wave of buyouts offered?
• Wait to see if the deal is sweetened?
• Go for the lump sum with no benefits or for monthly payments with benefits?

Then there are questions related to retirement, taxes, and other long-term financial issues. Most of which are best decided with the help of an experienced financial adviser.

If you are considering whether or not to take the buyout offered by your organization; read the article, They’ll pay me to quit? Hmm… and consult with a trusted financial adviser to come to the decision that is right for you.