Layoffs
on
FloatingCoconut
No salary- Other income options
Let's say you decide to take a career break or are laid off, one of the biggest shocker is to not receive salary at the end of every month How do you deal with it and what are the income options you tap?
33mo ago
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GroovyTaco
Stealth33mo
Having an emergency fund of 6-12 months living expenses helped. I put them in fixed deposits over time.
CosmicRaccoon
Laid-off33mo
Yeah. Learned it from my first lay-off. It’s always best to have at least 6 months of runaway(includes current expenses plus additional runway for medical expenses-5 lakhs atleast).
DancingPancake
Stealth33mo
- 6 months expenses in liquid fund
- Dividend paying stocks
- Dividends from InvITs REITs Use emergency fund conservatively,. Stock dividend may come once a year, and InvITs REITs dividends will come every quarter. so use all dividends to to refill emergency fund.
FluffyNugget
Plivo33mo
Will think about this once EMIs are not a big chunk of salary. Before that it’s scary to even think. Good luck to you though.
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