Starting a New Job

A job change may be a good opportunity to reevaluate up your financial plans.

If you are considering making a career switch, it’s important to spend some time evaluating how this change could impact your finances.

If you are moving on and moving up in your career:

  • Set savings goals and spending limits that your new salary can accommodate
  • Enroll in your new employer’s retirement savings plan
  • Rollover retirement funds
  • Enroll in your new employer’s health insurance plan
  • Transfer HSA and FSA funds
  • Don’t forget to set up direct deposit

If you are planning to leave your current employer without another job lined up or are reducing your hours:

  • Make sure you have an emergency fund in place so that you are prepared to cover at least 6 months of expenses
  • Examine your monthly expenses closely and cut out costs where possible
  • Ensure you have a plan in place to avoid gaps in health insurance coverage
  • Put a plan in place to protect your retirement savings