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®, is the Founder of Transition Planning & Guidance, LLC (TransitionPG®). She believes life is more than accumulating money – it’s about living the lifestyle you envision and can afford. Niv incorporates all aspects of life when discussing money. She developed the 5 P’s of Life (Personal Relationships, Personal Finance, Profession, Peace of Mind, and Physical Health) to help clients define what they want from life. Once she understands their vision, she helps them achieve their lifestyle or adjust their expectations based on their finances. Niv actively gives back to the community through her volunteer efforts. She believes in living life to the fullest by cherishing friendships, exploring the world, 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.’” Click here to read where she’s been quoted in the media.