Retrenchment / War on Livelihoods
An entire year since the onset of COVID-19
So this is what 2021 looks like so far, we just passed a milestone having been lockdown from 26th March 2020. The difference in 2020 was that COVID-19 was like a sucker punch to the diaphragm, leaving you winded and gasping for breath.
2021 however, we are no longer surprised that there is a pandemic. A year has been endured and many losses have been incurred in the process.
From late third quarter 2020, round about September, more collateral damage of the resultant lockdowns were emerging. This time in the form of mass scale retrenchments. As businesses sufferings were realised, so too was the option to downscale.
And so, although we may have began 2021 more empowered to deal with pandemic life, there was another curve ball to face - job loss.
SO WHAT DOES IT MEAN FOR ME TO BE RETRENCHED & WHERE TO DO I GO FROM HERE?
A Picture: The War on Livelihoods
For some of us, the pandemic has disrupted our livelihoods and fast-tracked retirement leaving us feeling anxious and panicked about our how to sustain our income (we need our income to pay for everything we have).
My Pre-COVID reality:
Prior to this disruption there would have been a plan from the time you began your working life to the day you would retire.
In between were all the mounting responsibilities of settling down and providing for the needs of the family. Needs like: a home, food, safety, education and access to healthcare.
The situation now:
- Too young to retire & too old to find new employment.
- 5 - 10 years (or more) short of retirement fund contributions, so my retirement fund balance is much lower.
- The same funds must now provide me an income for a longer period in retirement.
- Who to trust with something so essential to me and my loved ones.
The only way forward would be actions based on good, honest advice. The conversation must be centred around your needs & situational reality.
The primary issues being:
- Income need
- Longevity - how long will it last
- Investment Risk vs. Reward
- Debt to be paid
- Budget
Your Budget timeline:
- Immediate budget
- Intended budget at retirement age
- In retirement income needs
Retrenchment (Essential Workers) Special Offer:
Being fully aware of the challenges faced with retrenchment, we take pleasure in extending this offer to you:
- Discount on initial fees and a lifetime discount on annual advice fee
- Discounted rates on your current monthly insurance spend - for life
- This offer extends to essential workers* who are retiring - a thank you from us, for your immeasurable service to our nation.
*t's and c's apply, offer available for new business only from 12 April 2021 to 12 July 2021
My personal message to you
No matter how difficult the truth may be, maintain prudence and seek trusted advice, it is the only way to reconstruct your world... your life, your livelihood, your family. Fear & anxiety very often leads to irrational thinking & actions, making a tough situation worse, by believing & participating in things "too good to be true". What will bring you peace and safety... a good table of people around you & your faith. This is what we all need to bring us through, so do your best to stock up for the days ahead.
