Retirement Quick Tips with Ashley · Ashley Micciche

Laid Off 2 Years Before Retirement? Here's What to Do

·26 min·2 clips

Ashley reveals two clients were laid off just years from retirement, one after 40 years at the same employer.

This episode addresses the financial and emotional steps to take after an unexpected layoff just before retirement. Host Ashley Michike, a financial advisor with 18 years of experience, draws from her work with clients at True North Retirement Advisors. She provides a structured approach for those whose retirement timelines are disrupted. The first step is to avoid major financial decisions for six months, using savings or severance to cover expenses. Ashley notes current unemployment data shows a quarter of unemployed people remain jobless for over six months, with growth limited mainly to healthcare and government sectors. She emphasizes accurately projecting retirement expenses, including taxes and healthcare, before deciding to retire. The 4% rule is presented as a starting point to assess if investment withdrawals can cover spending. Social security strategy should be decoupled from the retirement date, with delaying benefits often being advantageous. Creating a written timeline maps out part-time work, investment withdrawals, and eventual social security claiming. A layoff can act as a forced push into retirement for those already financially ready but hesitant. Sequence of returns risk is heightened if layoffs coincide with an economic downturn. Ashley advises using the six-month period as a sabbatical to assess emotional readiness for retirement. Spousal alignment on spending and lifestyle changes is critical when income drops. Alternatives to traditional retirement include consulting, board service, or part-time roles in teaching or refereeing, which provide engagement and supplemental income. These "encore careers" offer schedule flexibility and can reduce reliance on investment portfolios. The tone is educational and reassuring, blending structured financial advice with empathetic coaching. Ashley uses client anecdotes and current economic data to ground her recommendations. This episode is ideal for listeners within a few years of retirement who face job insecurity or a recent layoff. Individuals seeking advanced investment strategies or those already confidently retired may find the content too basic.

As heard by us

A steady retirement checklist for when a layoff arrives before retirement.

Ashley Michike treats a layoff right before retirement as a practical problem to work through, not a crisis to dramatize. She moves through the main decisions in clear language: expenses, taxes, healthcare, Social Security, pension income, and other backup sources of cash.

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Need a calm plan when a layoff pulls your retirement timeline forward?

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