Presented By: February 21, 2009Mark Lamkin, MBA, RFC, CEO “Job Jam”

Securities offered through LPL Financial, Member FINRA/SIPC

3.6 million people have lost their job over the last year…

Everyone has been there at some point in their life!

Securities offered through LPL Financial, Member FINRA/SIPC

You can receive up to $363 per week for 26 weeks.

Stimulus plan should extend additional 7 weeks.

You may file online to speed up process.

Securities offered through LPL Financial, Member FINRA/SIPC

Review the package (at least overnight).

Understand the tax consequences.

After receiving money, lump sum payoffs of debt are not always the right thing to do.

Securities offered through LPL Financial, Member FINRA/SIPC

Don’t get emotional and burn bridges.

Seek a positive referral letter from your past employer.

Understand what’s available- Employee Handbook.

Seek unused vacation time and unused sick days.

Securities offered through LPL Financial, Member FINRA/SIPC

Balance Sheet Spending Plan Credit/creditor sheet Creditor letter Credit Counseling @ a non-profit credit

counseling center. The National Foundation for Credit

Counseling 1-800-388-2227

Securities offered through LPL Financial, Member FINRA/SIPC

Taxes and Penalties.

Hardship withdrawal.

Why it is not a good idea!

Take it with you to maintain control.

Securities offered through LPL Financial, Member FINRA/SIPC

Can you negotiate with your employer to keep you on the plan?

Can you be placed on your spouses health insurance?

Review COBRA and the costs. Federal Health Care Coverage Tax Credit. Ky’s insurance pool for high risk individuals.

Securities offered through LPL Financial, Member FINRA/SIPC

Millions pay credit card late fees every month $39 per month. Annual $234

ATM Charges…stay in the network! Annual Savings $100.00

Research and Get FREE Checking Annual Savings $150.00

Use Cash back or Rebate Credit cards Annual Savings (income)$250.00

Get Overdraft Protection. Fees have crept to $30 per month $150.00

Securities offered through LPL Financial, Member FINRA/SIPC

Life Insurance costs have dropped! Possible Annual Savings $300

Switch Grocery Stores- Costco (money magazine) $1,700

Drop the Starbucks! $130 Raise limits and boosts deductibles $650 Save on generic meds! $800

(Source: Kiplinger’s “Save $50 per Day”)

Securities offered through LPL Financial, Member FINRA/SIPC