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Oak Harvest Financial Group Releases the 10-Step Layoff Survival Guide

In a timely response to the recent shift in the Houston job market, Oak Harvest Financial Group has unveiled its 10-Step Layoff Survival Guide aimed at empowering workers aged 50 and older. With layoffs becoming increasingly common in the oil and gas sector, this guide serves as a crucial resource for those navigating sudden employment changes.

The Need for Guidance Amid Job Cuts

In Houston, where the economic landscape is predominantly influenced by the energy industry, job losses can significantly impact the livelihoods of seasoned employees. Troy Sharpe, CFP® and CEO of Oak Harvest Financial Group, emphasizes the importance of making informed financial decisions amid uncertainty. “Many Houston workers are being asked to make major financial decisions very quickly after a layoff. Our Layoff Survival Guide helps people understand their options so they can move forward with confidence instead of uncertainty,” he stated.

What the Guide Offers

The 10-Step Layoff Survival Guide is designed to provide actionable steps and clarity for layoff survivors. Key topics covered in the guide include:
1. Assessing Severance Pay: Understanding what severance pay entails and how it impacts financial stability.
2. Determining Living Expenses: Essential for those adjusting to potential changes in income.
3. Inventorying Assets: This helps in making informed decisions about financial resources available.
4. Understanding Unemployment Benefits: A thorough overview of possible benefits during unemployment.
5. Evaluating Health Insurance Options: Detailed insights on COBRA and other healthcare avenues.
6. Revisiting Social Security: Clarifications on how timing affects benefits.
7. Reviewing Pension Choices: Guidance on navigating pension-related decisions.
8. Deciding Employment Needs: Whether returning to work full-time, part-time, or retiring early aligns with long-term financial goals.

Personalized Planning for a Secure Future

Central to the guide is Oak Harvest's Retirement Success Plan, which helps individuals map out their financial landscape. This personalized roadmap clarifies whether individuals will need additional income, how to efficiently draw down savings, and outlines a stable retirement strategy. By following the practical steps provided, users are encouraged to confidently assess their cash flow needs, weigh insurance plans, and understand the tax implications of several decisions impacting their retirement.

Emotional Resilience During Transitions

The emotional impact of layoffs, especially later in one’s career, can be overwhelming. However, with the right resources, individuals are often able to discover that they have more choices than initially thought. “Being laid off late in your career can be emotionally overwhelming, but it does not have to derail your long-term financial goals,” remarked Sharpe.

For anyone in Houston facing layoffs, believing there’s a way forward is crucial. The hope is that the guide alleviates some tension and empowers readers to take actionable steps towards financial and emotional stability.

A Free Resource for the Community

The 10-Step Layoff Survival Guide is currently available for free download at OakHarvestFG.com. Furthermore, for personalized guidance, residents of Houston can schedule a complimentary consultation with an Oak Harvest Wealth Advisor.

By supporting those who are at risk of unemployment, Oak Harvest Financial Group demonstrates its commitment not just to its clients, but to the broader Houston community in navigating the complexities of job loss and retirement planning.