A retrenchment payout will see you through for a while but it’s not going to last forever. It can all be quite challenging. And at the centre of it all is what matters most you and your loved ones.
There are a few things you can do right now to get informed and take control.
It’s all covered in AustralianSuper’s guide ‘Creating the future you want.’ It tells you what’s included in your retrenchment payout, what tax you can expect to pay, what to do if your employer has gone bankrupt and more.
Like getting in touch with Centrelink to find out about government allowances for which you may be eligible.
And when it comes to your loans and debts, talking to banks and others about payment plans or paying interest-only on loans for a while to ease the pressure.
Doing a simple budget can help too, one that sets down where your money needs to go.
So when it comes to making the big life decisions like going back to work or maybe even retiring – you’ll be in a better frame of mind.
With information online, help and advice over the phone maybe even some financial advice from a professional AustralianSuper will get you back on track.