In my practice, I often work with individuals who are coping with the loss of a spouse.
It’s heartbreaking to witness the emotional toll of grief, especially when financial concerns add another layer of stress.
Many find themselves needing to adjust their lifestyle or seek new sources of income—sometimes temporarily, sometimes for the long-term.
If you’re facing the challenge of re-entering the workforce, here are four practical steps to help you get started:
1. Consult Your CFP®:
Work with your Certified Financial Planner® professional to determine how much income you need to maintain your lifestyle.
2. Inventory Your Skills:
Make a detailed list of your skills. Include your volunteer work, such as the size of committees you served on or budgets you managed.
3. Leverage Your Network:
Share your job search with friends and family. Be clear about what you’re looking for and what you can offer.
4. Contact Organizations:
Reach out to groups you’ve been involved with—religious institutions, nonprofits, medical offices, or schools—to inquire about job opportunities.
It’s natural to feel uneasy about asking for help, but your connections are often the best way to find new opportunities.
Some people choose to restart a previous business or explore direct sales, but these paths require time to ramp up income.
If you have a financial cushion for several years, these options may be worth considering—just remember to factor in healthcare and retirement needs.
While searching for work, look for ways to reduce expenses.
You may need to sell some assets to reduce overhead and generate income.
While bridging the gap, consider small jobs like pet sitting or house sitting.
Losing a spouse is an immense emotional challenge, and financial uncertainty can make it even harder.
Whether you’re able to cut back or need to return to work, remember that your support network is invaluable.
Stay positive, reach out, and use your resourcefulness to navigate this transition.
ABOUT THE AUTHOR:
Niv Persaud, CFP®, CDFA®, RICP®, is a Managing Director at Transition Planning & Guidance, LLC. Life is more than money. It’s about living the lifestyle you want and can afford. For that reason, Niv consults with clients on money, life, and work. Her approach capitalizes on techniques she learned throughout her career, including as a management consultant, executive recruiter, and financial advisor. Her services include developing comprehensive financial plans, divorce financial reviews, and retirement plans. Niv actively gives back to her community through her volunteer efforts. She believes in living life to the fullest by cherishing friendships, enjoying the beauty of nature and laughing often — even at herself. Her favorite quote is by Erma Bombeck, “When I stand before God at the end of my life, I would hope that I would not have a single bit of talent left and could say ‘I used everything you gave me.’”