Fidelity Smart MoneySM Playbook

How to help crisis-proof your life

Protecting your career and income

Even the best workers could lose their job at some point in their career. But here’s the thing about successful people: They nourish their network (and resume) so that they’re well-positioned to bounce back from a professional setback. Plus, they plan their money so that they have funds to tap if their income runs out. Here's how to be like them.

8 min estimated reading time

How to prep for losing a job

Get ahead of an unexpected job loss with these tips from Fidelity’s Meredith Stoddard.

Keep your life on track after a job loss

Consider these 7 ideas to help you afford your bills and land your next gig.

  • Beef up your emergency fund. The goal is to have 3 to 6 months’ worth of essential expenses saved, but even a few hundred or a few thousand dollars can make a big difference when you need it.
  • Get familiar with unemployment benefits in your state. Apply as soon as possible if you need to tap into them.
  • Refresh your resume by highlighting accomplishments relevant to the next job you want. Keep it brief (1–2 pages), putting forward the best of what you have to offer clearly and concisely.
  • Consider how your skills might be valuable in different industries and expand your credentials with online courses and other learning opportunities.
  • Research salaries from job postings and job-review sites so you know what you’re worth.
  • Maintain your professional network by connecting with past and present colleagues and classmates. Learn about their companies and roles and what they enjoy about them.
  • Separate your job from your identity for an easier emotional recovery. Remember you have skills and value beyond your title (or lack thereof).

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Fidelity does not provide legal or tax advice. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Fidelity cannot guarantee that the information herein is accurate, complete, or timely. Fidelity makes no warranties with regard to such information or results obtained by its use, and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation.

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