If you've seen the job market numbers for July and the dramatic downward revisions made for May and June, then you know the data's finally matching up to what many are sharing and experiencing right now in the job market. It's not easy for folks navigating restructures and layoffs and many are having to dip into retirement savings to stay afloat between jobs.
But adjacent to longer-term income shocks that could require 6-12 months of income replacement are unexpected expense shocks that can have huge impacts on financial wellbeing for large portions of the workforce. My guest this episode, Nick Maynard, discusses the impact of unexpected expenses and how employers can utilize available tools and programs to better support employees and protect the need for liquidity events on retirement savings.
Enjoy this episode and maybe avoid peaking at your 401k balance for a bit...
