Connect with us

Business

Would You Know What to Do If You Lost Your Job?

THE FLORIDA STAR — Tips to help you prepare for an unexpected career crisis.

Published

on

By Russell T. Jackson

We all know how important it is to be prepared for a fire, flood, or other type of emergency. What about something that seems less dramatic, but can be equally devastating, like unemployment? You can’t dial 911 or stop, drop, and roll, but you can take steps to help minimize some of the fallout from losing your job.

Russell T. Jackson

[/media-credit] Russell T. Jackson

  1. Stay positive. It’s important to remember that the decision was probably based on the economy or other external factors.
  2. Be professional. If you handle yourself with decorum, your employer may be willing to serve as a reference, recommend you to vendors, and even provide assistance with interviewing and résumé building. Plus, if their economic situation continues to improve, who’s to say they won’t hire you back?
  3. Account for every penny. Review your terms of employment and claim any money owed to you from bonuses, commissions—even unused vacation. Also, find out if you are entitled to a severance package. If not, file for unemployment benefits right away since it may take weeks to process.
  4. Replace lost benefits. If your spouse works, see if you can add yourself to his or her health care plan. If not, you can apply for COBRA coverage within 60 days of termination and extend your health care benefits for 18 months. Similarly, you may want to purchase an affordable term life insurance policy to help replace any workplace coverage you may have had.
  5. Evaluate your retirement plans. While some employers allow you to leave your 401(k) in place, it may not always be the right move. Have a financial professional look the plan over and see if you are better off rolling over the funds into a traditional IRA or Roth IRA.*
  6. Network-Network-Network. You never know where your next job will come from, so take advantage of every networking opportunity. Also, be sure to use social media platforms like LinkedIn to help connect with people online and let them know you’re looking.

This educational third-party article is being provided for information purposes only as a courtesy by Russell T. Jackson, Agent New York Life Insurance Company. To learn more about the life insurance and financial strategies, please contact Russell Jackson at 904-699-3480 or rtjackson@ft.newyorklife.com

*When considering rolling over the proceeds of your employer-sponsored retirement plan to an IRA, you have the option, among others, of leaving the funds in your existing plan, if permitted, or rolling them into your new employer’s plan, if one is available and rollovers are permitted. Each choice offers advantages and disadvantages, depending on the desired investment options and services, fees and expenses, withdrawal options, required minimum distributions, tax treatment, and your unique financial needs and retirement plans. (Neither New York Life Insurance Company nor its agents provide tax or legal advice. Consult your own tax and or legal advisors regarding your particular situation.)

This article originally appeared in The Florida Star.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Bay Area

Ready to Travel? Get the REAL ID!  

The California DMV suggests changing your driver’s license or identification card to a REAL ID as federal laws will soon make it necessary to have either a passport, REAL ID, or other federally accepted forms of ID to board local flights and enter federal buildings.

Published

on

DMV Administrator Carrie Stanton. Photo courtesy of the author.
DMV Administrator Carrie Stanton. Photo courtesy of the author.

By Carrie Stanton, Regional Administrator (Region 2, Bay Area) of the California Department of Motor Vehicles

The holidays are here and families are excited to get together and celebrate for the first time in over a year. Amid the pandemic, we’ve missed far too many Sunday and holiday dinners that have been a tradition for many families for generations.

For our community, family dinner is about creating memories. For those families who will be traveling this holiday season, I encourage you to consider adding a REAL ID upgrade to your checklist when making your travel plans.

The California DMV suggests changing your driver’s license or identification card to a REAL ID as federal laws will soon make it necessary to have either a passport, REAL ID, or other federally accepted forms of ID to board local flights and enter federal buildings.

While getting a REAL ID isn’t required, it does make it easier to continue using your driver’s license to board a local flight or visit loved ones on military bases. To help make this change, the California DMV is offering free upgrades to people who renewed their license or ID card between March 2020 and July 2021 from now until Dec. 31, 2021.

Protecting the health, safety and security of our communities is what’s important and the REAL ID provides an extra layer of protection when traveling. Applying is easy and can be started safely online at CaliforniaREALID.org. Complete your application, upload the required forms, and plan your DMV office visit to finish. Don’t forget your documents and confirmation code– they will be needed for your visit.

Whether you are applying for a first-time California driver’s license or identification card or are up for renewal, a REAL ID may be the best option, especially if you plan to travel soon. Get back to creating those memories with your family. With shorter wait periods and an easy application process, now is the perfect time to start your REAL ID application so you’re ready to go when the time is right.

As we continue to recover from the pandemic, many things in our lives are changing. In our community, many have started businesses, changed their lifestyles for the better and found new passions in life. Whatever is helping you get through these rough times is also playing a part in figuring out our new normal. Make the REAL ID part of that new normal.

Carrie Stanton is Regional Administrator (Region 2, Bay Area) of the California Department of Motor Vehicles.

Continue Reading

Bay Area

Mayor London Breed Announces Plan to Reform City’s Small Sites Housing Acquisition Program

“Our Small Sites program is an important part of our overall strategy to make housing affordable to all San Franciscans,” said Mayor Breed. “Preserving rent-controlled housing helps keep people in their homes, protects against displacement and evictions, and creates more stability in our neighborhoods as we make crucial decisions to build more housing in all neighborhoods. We are committed to working with our non-profit partners to reform and strengthen this program so we can make impactful investments in our upcoming budget and support the long-term viability of the Small Sites program.” 

Published

on

Supporting capacity in the City’s non-profit partners to make small sites deals and ensure that the buildings are financially sustainable.
Supporting capacity in the City’s non-profit partners to make small sites deals and ensure that the buildings are financially sustainable.

Improvements made in partnership with non-profits that help administer the program will ensure long-term success of important housing preservation and anti-displacement program

Mayor London N. Breed and Supervisors Myrna Melgar and Ahsha Safaí announced on Tuesday the next steps to strengthen and reform San Francisco’s Small Sites Program, which preserves rent-controlled buildings and prevents tenant displacement.

First launched in 2014, the City has helped acquire 47 buildings (368 units of affordable housing) through the Small Sites Program.

The Small Sites Program is run by the Mayor’s Office of Housing and Community Development (MOHCD), which works to acquire and preserve at-risk rental housing with three to 25 units.

The program was created to establish long-term affordable housing in smaller properties throughout San Francisco that are particularly vulnerable to market pressure that results in property sales, increased evictions, and rising tenant rents.

In the face of the increasing pressure, the Small Sites Program helps San Franciscans avoid displacement or eviction by providing loans to non-profit organizations to successfully remove these sites from the market and restrict them as permanently affordable housing.

While the program has been an important tool, challenges have impacted implementation and acquisition. Mayor Breed sat down with non-profit partners who work with the City on administering the program and agreed to a plan to reform over the coming months to ensure the long-term viability of the Small Sites Program. Those commitments include:

  • Undergoing a study on how to make the program more efficient and the model more applicable. This study will be conducted by the Housing Accelerator Fund (HAF), which partners with the City on housing preservation and acquisition efforts. HAF’s recommendations are due in January.
  • Considering reform recommendations from the City’s housing partners.
  • Implementing programmatic reforms by the end of March 2022.
  • Supporting capacity in the City’s non-profit partners to make small sites deals and ensure that the buildings are financially sustainable.
  • Modernizing and reforming programming rules to ensure broader applicability geographically, including in neighborhoods currently left out of the program because of income limitations.
  • Ensuring that vacant units are immediately filled.

“Our Small Sites program is an important part of our overall strategy to make housing affordable to all San Franciscans,” said Mayor Breed. “Preserving rent-controlled housing helps keep people in their homes, protects against displacement and evictions, and creates more stability in our neighborhoods as we make crucial decisions to build more housing in all neighborhoods. We are committed to working with our non-profit partners to reform and strengthen this program so we can make impactful investments in our upcoming budget and support the long-term viability of the Small Sites program.”

“San Francisco’s vitality is dependent on keeping our current residents stably housed. The Small Sites Acquisition Program has so much untapped potential to save our diminishing rent-controlled housing stock and to keep our communities intact. We need to be bold and shift the way we have been doing things to meet this moment. Our City’s economic recovery is dependent on investing in the residents and businesses that are struggling to stay here,” stated Supervisor Myrna Melgar.

“The Small Sites program preserves existing affordable units for working families here in San Francisco through acquisition,” said Supervisor Ahsha Safaí. “Together with Mayor Breed and Supervisor Melgar’s leadership – we have renewed our support for this vital program and San Francisco’s middle-income families. We are committed to working with our local non-profit partners and I’m proud to help lead this process to increase affordable housing options for San Francisco’s working families.”

“We thank the Mayor for renewing her commitment to the City’s housing acquisition and affordable preservation program,” said Malcolm Yeung, executive director of the Chinatown Community Development Center. “While this has been a critical tool in preventing displacement of our most vulnerable residents, it has not always worked as planned. Not only do we have to expand accessibility to a broader range of San Franciscans, especially our lowest income, we have to make the program sustainable for the organizations that are doing the work of acquiring, rehabbing, and operating the housing.”

“MEDA is firmly committed to the proven, targeted approach of the City’s Small Sites Program to fight displacement. Since 2014, our nonprofit has made 33 critical acquisitions, keeping in their longtime homes hundreds of families and dozens of commercial businesses,” said MEDA CEO Luis Granados. “Our Community Real Estate team has been maintaining and growing the program throughout the pandemic, building our own capacity and that of our nonprofit peers so that we are all best positioned to continue to purchase Small Sites apartment buildings. In partnership with the City, we look forward to acquiring additional critical buildings as we further strengthen the program to ensure all properties are financially stable and that every unit becomes home to those most in need of affordable housing.”

Continue Reading

Bay Area

San Francisco Declares Water Shortage Emergency in Response to Statewide Drought

The average San Franciscan uses 42 gallons of water per day at home—one of the lowest rates in California and less than half of the statewide average of about 90 gallons per person per day. In April, the SFPUC called upon its 1,600 irrigation customers and City departments to reduce water use and asked all customers to reduce water waste, which helped lead to an overall reduction of water use in San Francisco through November 2021.

Published

on

With the declaration of the emergency water shortage, the City is poised to launch a water conservation public awareness campaign that will include the SFPUC’s outreach channels and strategically targeted paid media advertising.
With the declaration of the emergency water shortage, the City is poised to launch a water conservation public awareness campaign that will include the SFPUC’s outreach channels and strategically targeted paid media advertising.

Voluntary action calls for 10% reduction in water usage system-wide

From S.F. Mayor’s Office

Mayor London N. Breed and the San Francisco Public Utilities Commission (SFPUC) last week  declared a water shortage emergency and approved measures aimed at further conserving and reducing water usage across the SFPUC’s service territory in response to exceptionally dry weather conditions that have affected the entire state over the past two years.

As a result of the emergency measure, which the SFPUC unanimously approved, San Francisco has declared a 10% reduction in water usage across its regional system.

The 10% reduction will be compared to water use from July 2019 to June 2020 and will be applied to all of the SFPUC’s 2.7 million customers, which include customers in San Francisco, Alameda, Santa Clara, and San Mateo counties. The call for voluntary water reduction will go into effect immediately.

“With California still experiencing devastating drought and the uncertainty around this rainy season, we need to make tough decisions that will ensure that our water source continues to be reliable and dependable for the future,” said Breed.

“Year after year, San Franciscans step up to conserve our most precious resource, resulting in one of the lowest water usage rates in California, and during this critical time, I know that our City will once again meet the call to reduce water use,” she said. “I applaud the SFPUC Commission for declaring a water shortage emergency and urging our customers to be mindful of their water usage.

“We are in a drought with far-reaching consequences, and it has become clear we all need to do even more to address it,” SFPUC General Manager Dennis Herrera said. “San Franciscans have been doing their part and have some of the lowest water usage in the state. This emergency water shortage declaration will help all of our customers pull together and move in the same direction. We know we can rely on each other. I’m confident that everyone will do their part so we can all get through this.”

With the declaration of the emergency water shortage, the City is poised to launch a water conservation public awareness campaign that will include the SFPUC’s outreach channels and strategically targeted paid media advertising.

The messages will be conveyed in multiple languages and will include tips and resources on actions that customers can take to reduce their water usage to help achieve the 10% reduction system-wide, such as fixing leaky toilets, installing low-flow fixtures, reducing outdoor irrigation, and receiving water usage audits from SFPUC professionals.

The average San Franciscan uses 42 gallons of water per day at home—one of the lowest rates in California and less than half of the statewide average of about 90 gallons per person per day. In April, the SFPUC called upon its 1,600 irrigation customers and City departments to reduce water use and asked all customers to reduce water waste, which helped lead to an overall reduction of water use in San Francisco through November 2021.

However, with the state continuing to experience extremely dry weather overall, the SFPUC is expanding on those efforts by declaring a water shortage emergency, which will help the agency access water reserves and resources available only during emergencies.

The SFPUC has about 360,000 acre-feet of reserve water in its water bank. An acre-foot is enough water for about two California households annually on average.

However, the State Water Board’s curtailment orders, emergency regulations issued in August 2021 that restrict diversions from the Tuolumne River watershed, effectively prevent the SFPUC from accessing that water bank.

Due to the Water Board’s curtailment orders, the SFPUC and its retail and wholesale customers are less prepared to address drought conditions moving forward.

“We need everyone to take action to preserve and stretch our limited water supplies,” SFPUC Commission President Anson Moran said. “San Franciscans and our wholesale customers have been doing a good job when it comes to being efficient with their water use. We can all do better. We look forward to working with all of our customers to further reduce water use.”

Declaring a water shortage emergency carries with it the requirement that the SFPUC institute a temporary drought surcharge for retail water and wastewater customers of up to 5% on part of their bill.

The SFPUC Commission voted to introduce the surcharge on April 1, 2022. The effect on the average residential customer’s bill is estimated to be a little over $6 per month if they made no reductions to their water use. The temporary drought surcharge will automatically end when the SFPUC Commission rescinds the water shortage emergency declaration.

Earlier this year, Governor Gavin Newsom declared a Drought Emergency for 50 of the 58 counties in California and called on all Californians to voluntarily reduce water use by 15%. The state’s ongoing drought has increased the significance of water reuse, recycling, and conservation programs, measures SFPUC has long championed.

More information is available at www.sfpuc.org/savewater.

Continue Reading

CHECK OUT THE LATEST ISSUE OF THE OAKLAND POST

ADVERTISEMENT

WORK FROM HOME

Home-based business with potential monthly income of $10K+ per month. A proven training system and website provided to maximize business effectiveness. Perfect job to earn side and primary income. Contact Lynne for more details: Lynne4npusa@gmail.com 800-334-0540

Facebook

Trending