When the Job Crumbles: Preparing for Life's Surprises (SB1646)

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Feb 19, 2025

Worried about job loss? Learn essential strategies to prepare financially and safeguard your future during layoffs. Discover the surprises of the Secure Act 2.0 and how it impacts inheritance rules for Roth IRAs. Ever considered the costs of owning a horse? Dive into the financial realities behind equestrian life. Plus, get ready for some fun trivia and unexpected lessons from tide pooling adventures. This lively discussion combines humor with solid advice to help you navigate life’s uncertainties!

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ADVICE

Emergency Fund

Build an emergency fund in a high-yield savings account.
This helps navigate unexpected job losses and other financial emergencies.

ADVICE

Key Questions During Layoff

When laid off, ask about the reason, benefit end date, and severance.
Don't be afraid to follow up with HR for clarification later.

ADVICE

Avoid Immediate Signatures

Don't feel pressured to sign anything immediately during a layoff.
Take a day to process information before making decisions.

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Ever experienced the gut-wrenching moment of losing a job—or worried about what you’d do if it happened? Today, we tackle how to prepare, what to do immediately, and the smartest moves to protect your finances if your job ever disappears. From building an emergency fund to making the most of employer benefits, we’ll walk you through the steps to keep your financial house in order when life throws a curveball.

But that’s not all. Estate planning gets a shake-up thanks to the new Secure Act 2.0, and we’re diving into what it means for inherited Roth IRAs (hint: the government has new rules, and you’ll want to know them).

And because we can’t resist a good detour, we also explore the real cost of horse ownership (spoiler: it’s more than just hay money) and why tide pooling is more financially educational than you’d think. All that, plus trivia, TikTok wisdom (or nonsense), and plenty of lively discussion from the basement crew.

What’s Inside Today’s Episode:

Job Loss Survival Guide: How to prepare before, during, and after a layoff.
Emergency Fund Essentials: Why you need one (and how much is enough).
Navigating Employer Benefits: Making the most of what’s available before you leave.
Secure Act 2.0 & Estate Planning: The new rules around inherited Roth IRAs.
Trivia & The TikTok Minute: Because questionable financial advice is always worth dissecting.
Horse Stackers & Expensive Hobbies: Ever wonder what it really costs to own a horse? We break it down.
Tide Pooling Adventures: A financial lesson wrapped in sea creatures and crashing waves.

Key Takeaways from the Episode:

✔️ Job security is a myth—be ready. Build that emergency fund, update your resume, and keep networking.

✔️ Your employer’s benefits might be your hidden lifeline. Know what’s available before you walk out the door.

✔️ Secure Act 2.0 changes estate planning. If you’re inheriting a Roth IRA, don’t assume the old rules apply.

✔️ Horses aren’t just expensive—they’re financial black holes. But that won’t stop people from trying.

✔️ Tide pooling might be the best investment lesson in disguise. Patience, observation, and avoiding getting pinched—it’s practically a stock market metaphor.

Tune in now to make sure you’re financially prepared—whether it’s for job loss, estate planning changes, or just the unexpected expenses of a very expensive hobby.

FULL SHOW NOTES: https://stackingbenjamins.com/spring-cleaning-your-estate-plan-1646

Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.stackingbenjamins.com/201

Enjoy!

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