Tag: layoffs
Voluntary Retirement Offers: What You Need to Know Before Deciding

Voluntary Retirement Offers: What You Need to Know Before Deciding

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Major companies are restructuring, and voluntary retirement packages are landing on desks across the country. How do you know if taking the offer is the right move for your future?

In this episode, Dennis O’Keefe examines the complexities of voluntary retirement offers and involuntary layoffs. He reveals how companies carefully craft these packages to achieve specific workforce reductions and shares insights from HR professionals about the strategy behind these offers. Dennis also discusses the current employment landscape at major telecommunications companies, the risks of waiting too long to decide, and practical steps to prepare, whether you’re facing a voluntary severance package or potential layoff.

Dennis discusses:

  • How companies strategically design voluntary offers to target specific employee groups and achieve precise headcount goals
  • The difference between voluntary severance packages and involuntary layoffs, including benefits and compensation comparisons
  • Key factors to assess when evaluating an offer: retirement readiness, marketable skills, geography, and career trajectory
  • The importance of retraining opportunities and using employer-paid education benefits before a potential departure
  • Why professional guidance from financial advisors and career coaches can help you make informed decisions during transitions
  • And more

Connect with Dennis O’Keefe: 

All content presented is for educational purposes only and should not be construed as an endorsement of any third party, or as a solicitation or offer to sell securities or provide investment, tax, legal, or consulting services, and should not be acted upon without obtaining specific advice from a qualified professional. We believe the information presented to be reliable, but it is not guaranteed as to its accuracy or completeness. All examples are hypothetical and for illustrative purposes only. Any opinions or statements by third parties are their own and may not be representative of the experience of others or indicative of future investment performance or success. No compensation has been exchanged for any testimonials, endorsements, and/or recognitions.
Your Guide to Layoffs, Severance, and Retirement Decisions

Your Guide to Layoffs, Severance, and Retirement Decisions

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When layoffs or retirement offers appear, whether planned or not, they can stir panic and uncertainty. In this episode of Your Successful Retirement, Dennis O’Keefe, CFP®, draws on more than 30 years of experience helping telecom employees navigate these pivotal transitions. He shares a calm, practical approach to managing the emotional and financial stress that follows a sudden career shift.

You’ll learn what to consider before signing a severance agreement, the hidden tax implications many overlook, and why COBRA coverage may not be your best option. Dennis also unpacks key strategies around timing your Social Security, managing 401(k) withdrawals, and avoiding the costly pitfalls that can derail your long-term plan.

Key takeaways:

  • How to evaluate a severance package and understand its real after-tax value
  • Why preparation matters more than panic when a layoff hits
  • Smarter health insurance choices after employment ends
  • When and why to consider taking Social Security early
  • And more!

Connect with Dennis O’Keefe: 

All content presented is for educational purposes only and should not be construed as an endorsement of any third party, or as a solicitation or offer to sell securities or provide investment, tax, legal, or consulting services, and should not be acted upon without obtaining specific advice from a qualified professional. We believe the information presented to be reliable, but it is not guaranteed as to its accuracy or completeness. All examples are hypothetical and for illustrative purposes only. Any opinions or statements by third parties are their own and may not be representative of the experience of others or indicative of future investment performance or success. No compensation has been exchanged for any testimonials, endorsements, and/or recognitions.