You’re Out of Work. Who Knows and How Can They Help?



Enough has been written about today’s unemployment rates and the challenges associated with finding that next job. My question is: Who have you told?

For some of us, broadcasting that we’re suddenly not working can be difficult, but the sooner you share that, the sooner you can address your options, both on the job front and on the financial front.

Most people jump right to: How do I find the same job somewhere else? You make sure your network knows and figure out who can get you in the right doors. Maybe you are reaching out to recruiters you know.

I would step back from that – at least briefly – and ask: Who can get me grounded? Who can help me take stock? Who can raise the questions I’m not asking? And what are my options, both from a work and a financial perspective.

For some, that will be friends and family, but it can also be advisors you’re working with now or have worked with in the past – personally and professionally. Who are some off those advisors?

Your Accountant – For me, I wish I had spoken to my accountant sooner. She walked me through a handful of ideas, including looking at how to use some assets I would not have thought to touch. If nothing else, at least she now knew that my income had changed, so some tax planning should change.

Your Financial Advisor – No one should understand your cash flow, personal balance sheet and tax situation, and how they connect, better than your financial advisor. They are there to help you sort out your options to replace income while you’re not working. It could be about severance packages, stock options or pensions, and other retirement and healthcare benefits. They are a great resource for raising the questions you’re not asking.

Business Advisors like …

  • Business Coaches – Have you worked with one in the past? Was it through your employers? Depending on your circumstances, your employer may be willing to connect you or even pay for some coaching.
  • HR Consultants – They have likely seen what you are going through hundreds of times and may be able to help you avoid pitfalls.
  • Insurance Specialists – Health insurance is at the top of everyone’s mind. Know what your options are. When I spoke to someone on behalf of a client recently, he gave me some great guidance on how to think about COBRA before signing up for your next employer’s health plan.

Whoever those people are for you, let them know. Let them know soon.

So, who knows? Any of them could be that resource that raises just the right question and sparks your next step forward.

Who knows?



Adam Blonsky is a Financial Advisor in our Glenview, IL office. Adam joined the Coyle Advisor Team in 2011. During the past 25 years, Adam has provided solutions-oriented financial counsel and corporate finance advice to families, business owners and middle market companies. His breadth of experience in the financial industry and commitment to clarity and collaboration provides each client with straightforward, well-reasoned solutions to complex business and personal financial matters.
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All information is from sources deemed reliable, but no warranty is made to its accuracy or completeness.   This material is being provided for informational or educational purposes only, and does not take into account the investment objectives or financial situation of any client or prospective client.  The information is not intended as investment advice, and is not a recommendation to buy, sell, or invest in any particular investment or market segment.  Those seeking information regarding their particular investment needs should contact a financial professional.  Coyle, our employees, or our clients, may or may not be invested in any individual securities or market segments discussed in this material.  The opinions expressed were current as of the date of posting, but are subject to change without notice due to market, political, or economic conditions.

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