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Oaktree Financial Advisors Blog

15 Things to do When You Lose Your Job

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Whatever employers like to call it, being laid off, downsized, restructured or right-sized, the result is the same – you're out of a job. And regardless of why, being laid off from a job can be a traumatic, stressful experience, one that can cause you to lose sight of your own self-worth, your value as a worker and provider for your family, and even your career direction and purpose. The bad news is that it will probably happen to most of us during our careers, including you. The good news is that with a little preparation and smart thinking you can lessen its blow and more easily make the transition to the next chapter in your work life.

Here are few tips to help you handle a lay off:

1. DON'T TAKE IT PERSONALLY. Being laid off is not about you or your contribution to your company. It's about your company's need to reduce expenses. It's not about your failure; it's about your company's failure to raise enough money to support all of its workers. Often, very talented people are laid off.

How Terrible a Year It Was Going to Be: An Investing Lesson From the 2016 Stock Market

Written by Ed Snyder on .

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Google "January 2016 stock market" and you'll find articles using words like jitters, fears, crash, turbulence, plunge, horrible, worst. It's been 11 months and a lot has happened since then so you may not remember that the stock market had a rough January this year. One article stated "The Stock Market Posted the Worst January since 2009".

So just how awful was it? The S&P 500 finished January down 4.96%. The S&P 500 is an index of 500 large stocks commonly referenced to represent the stock market. There are many other types of stocks too though that are not represented by the S&P 500. That's a whole different article. Let's run through a few to see how they did in January. Small growth stocks, (Russell 2000 Growth Index) were down a whopping 10.83% in January.  Small cap value (Russell 2000 Value) was down 6.72%, International stocks (MSCI EAFE NR USD Index) returned -7.23% for January, real estate stocks (DJ US Select REIT Index) were down 3.95% to start the year and bonds (BBg Barclay US Agg Bond Index) ended January up 1.38%. Bonds were the best performer in January, outperforming the eight stock asset classes we use.

What to Do During Open Enrollment: How to Make Your Employee Benefit Choices for 2017

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It's that time of year – time to make your benefit choices for next year. For Eli Lilly employees the period to make your choices begins October 17th and ends November 4th. Other employers' open enrollment period may differ but is probably around this same time. You only get a couple weeks to make decisions that will impact you and your family for all of 2017. These selections can only be made during this enrollment period and are irrevocable unless you have a change in your status.  In the words of Eminem, "You only get one shot, do not miss your chance"... some of you get that reference and some of you have no idea. Anyway, make sure that you consider your options carefully.

Here are 10 things you should do during enrollment. Hopefully this will help make the process a little bit easier for you.

You Can't Use Your Cell Phone When You're Dead

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I talk to people every day about their finances. As you might imagine, I see a lot of different situations. One thing that I see too often is families that do not have enough life insurance. Too many times people take whatever life insurance their employer happens to provide and maybe they buy a little bit more through work and they leave it at that. They never really thought through the decision and what their family needs, they just signed up during benefits open enrollment at work.

Comparing the Clinton and Trump Child Care Plans

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Millions of Americans pay for childcare or stay at home to provide care instead of working. Millions more provide unpaid care to an adult, while some families are doing both – called the “sandwich generation”.

Workers spend time out of the workforce providing this care, thus costing their families money. The two presidential candidates have proposed different ways of reducing part of this burden on families through their child care plans. Let’s take a high-level look at both.