Job loss is a 'reality' of the business cycle, says labor expert. Take these 6 key steps after a layoff

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Tech firms are laying off workers and Wall Street may be next.

This becomes especially important if you're close to being — but aren't yet — fully vested in benefits like a 401(k) match or company stock, Sun said.

Tax-deferred accounts like a pre-tax 401(k) or IRA should generally be a last resort, according to Ivory Johnson, a certified financial planner and founder of Delancey Wealth Management, based in Washington.

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Author / Journalist: https://www.facebook.com/CNBC

Category: MarketsFinanceInvesting

Topics: Personal finance Personal Finance Ivory Johnson Employment Finance Cnbc Source:tagname:CNBC US Source Savings Personal saving Articles Social issues Investing Unemployment Personnel Jobs Economy

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News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-28, 18:39:30

News Timezone: GMT -5:00

News Source URL: cnbc.com

Language: English

Reading Time: 8 minutes read

Article Length: 1294 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 19084

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