Redundancy Advice

 

When dealing with redundancy it is important to know your redundancy rights. It is recommended to seek professional advice which will allow you to make the best decisions for you and your family while avoiding costly mistakes.

 

Unfortunately retrenchment is a fact of life for most professionals, with one in three executives facing retrenchment during their career. Some professionals will change careers, which takes time and will need to be financed. During these times it is important to know your redundancy entitlements and rights. This will help you to get the redundancy benefits that are yours under the law.

 

One method of dealing with the results of redundancy is to set up a cash trust that will allow you to stay afloat while you are trying to get your feet back on the ground.

 

The first decision you will have to make following redundancy is how to support yourself while searching the job market. One option is to use your termination pay to fund your monthly cost or you may consider selling some of your assets. It is important to seek professional help during retrenchment which iMoney Wealth Management can offer in order to decide which assets are better to sell and which ones are more valuable to hold on to for the long run. We can help you to set up a cash trust to pay your bills during retrenchment while taking into consideration your long term financial health.

 

iMoney Wealth Management can help you make important decisions about life insurance, super contributions and employee share schemes that will affect your long term financial welfare. We will provide you with the expertise to avoid making hasty decisions that will cost you financially in both the short and long term.

 

With professional help from wealth management professionals you and your family will be able to come out of retrenchment without ruining your long term financial health. Contact iMoney Wealth Management today to get the advice you need to deal with the financial challenges of redundancy.