Work It Podcast: What should you do with a retrenchment payout?

Work It Podcast: What should you do with a retrenchment payout?

Tiffany: 
That is a lot of risk, isn’t it? &nbsp,

Lily: 
Oh no, because I am aware of my chance. I therefore effectively diversified my collection. And more than anything else, this lump sum was actually intended to protect investment.

But the whole point was to create passive income because I wanted this tumor sum of money that I had worked so hard for and that included both my children and sweating. So I wanted that lump sum to be more beneficial to me.

So I made the decision to put it in the institution and really enjoy having the security of having it. But, in case my financial consulting company fails, I can return to this lump sum, okay?

But, to me, one issue is thought to be… I have experienced numerous company processes. Every day there is a crisis, I led the organization through success. So I said to myself, I can’t fail, even if I move on to financial advice. &nbsp,

Host Gerald Tan:
There are three groups of people using their reclaimed funds in this context, I’m really thinking.

The second group of people to get their golden handshake and rapidly discard it, perhaps without much thought or perhaps not in the most beneficial way, isn’t that correct?

Then there’s the end group of people, who, in my opinion, use it to advance their careers. They transport, and perhaps use it to handle some of their debts.

And then there are people like Lily, who have been meticulously planning their careers and finances, and who are now only using the beautiful hand to give them more options in the future. &nbsp,

Tiffany:
Was it a point in time when you first started to realize that you might face fiscal risks? Were there any worries you had at the moment? &nbsp,

Lily:
There were certainly fears, that is for sure. When I took that courageous leap of faith, was that correct? It was frightful. Why so terrifying?

It is really because I’ve been working in a structured corporate environment for 26 years and have always been like that. But, I’m having to remind myself that I’m going to step outside of my comfort zone. I’m going to start over in a fresh position, self-employed, completely unprepared for self-employment, which was incredibly terrifying.

My soul was like beating so quickly. But then again, I suppose there is a distinct stage of life, right?