- Evaluating a job offer
It sounds like a good job offer, but how do you know for sure? Find out how frequently you can expect performance and salary reviews. Is the salary on a par with those of other professionals in your field? Should you negotiate for a better offer? Are bonuses or profit-sharing plans included? Will you travel? Is overtime expected? Will you need to relocate? You might make a list of pros and cons to help you consider the offer. It's a big decision--take your time.
- Evaluating an early retirement offer
Is that offer to retire early as good as it looks? Make sure that you review the offer carefully before you accept or reject it. Is the severance package enough to carry you into the next phase of your life? If you accept, what will happen to your retirement benefits, and will your pension be smaller? Is adequate medical coverage included? What happens to the other benefits you were getting, such as life insurance? You'll want to map out your complete financial picture before making a final decision.
- Planning for a Career Change
A higher salary. More job security. Doing what you love. Fewer hours. More travel. Changing careers can be rewarding for many reasons, but career transitions don't always go smoothly. Your career shift may take longer than expected, or you may find yourself temporarily out of work if you need to go back to school or can't immediately find a job. Planning for the financial impact can make the transition easier.