First of all, welcome to ex-Facebook, ex-Amazon, ex-Dropbox, and others who joined our unfortunate ranks of the laid-off this week. It’s still a dark time in technology, and I hope you’re all leaning in to support those in need. More on that in a minute. First, we have to talk about online scams.
A former Indeedian Tom tried to scam me this week. While I was at the dentist, he texted me to stop by CVS, pick up a $500 Apple gift card, and send it to him. Now, for those who know Tom, you know this was clearly out of character, and it’s also a pretty obvious scam. The scary part was that the scammer had not only my name but also Tom’s and knew we were connected. Be careful out there, folks. Even unemployed, you may still be the target of online scams, and with your personal information on various layoff lists, you may see an influx of requests. Thankfully this one ended with a frustrated scammer, not me losing $500.
I know talking about money while laid off may be a sore subject, but we have some business to take care of this week. Let’s dive in!
Looking Back – #TakeThePTO
I’ve worked for companies with open PTO (paid time off) policies for the last 16 years. It’s a double-edged sword. I enjoy the flexibility and the openness to take the time off I need, but always feel a twinge of regret about whether I’m taking enough vs. too much. Now with the layoff, I’m temporarily leaning into that feeling and enjoying the break from the typical eight-to-five work schedule. I encouraged keeping weekends last week, but if your budget allows, thinking of a portion of this layoff as an extended vacation can be a way to recharge your batteries and put some of the negative feelings behind you.
Also, if you were planning a summer vacation like me, do what you can to keep some portion of that trip. You may need to take a shorter or closer-to-home vacation than originally planned, but having that extended break, especially before diving into a new role, will help you jump in wholeheartedly.
While we’re on the topic of vacation, let’s talk about negotiating vacation. You can negotiate to take your planned vacations when joining a new company. You can ask how much vacation the average person is taking. And if it’s not a company with unlimited PTO, you can negotiate to start with more than the standard vacation offering. Get that time off and USE IT! This HBR article shares data on why you need it. (5 min read) #TakeThePTO
Looking Forward – Words of Affirmation
As we go through the valley of despair (or the estuary of ennui, or even the fjord of feelings – Thanks, Mandy!), it is essential to continue speaking and hearing words of affirmation. Hopefully, this newsletter is a bit of that for you, but when you meet others who’ve been laid off (or others going through hard times,) brightening their day with some words of encouragement will help lift their spirits. Here are 55 examples to get you started on lifting those around you. (8 min read)
Today’s Tip – Rolling Over Your Money
This week I’ve got another timely tip. Hopefully, you were investing in the company 401k (if not, get started on your 401k immediately at your next job, it’s a great habit and way to build wealth.) If so, you need to decide what to do with those funds. This article summarizes a number of things you could, should, and should not do with that investment. (8 min read)
For those with a Fidelity 401k, the process is quick and simple. It only took me 13 minutes on the phone to get everything rolling (I already had an existing IRA to roll over into, so I got to skip those steps), which has got to be a record time for getting anything meaningful done with a financial institution.
Fun Stuff
Final Words
If I can help with your search, please get in touch with me. Please give me feedback on what you like or don’t care for in this newsletter, and I’ll adjust. For total transparency, I have no affiliation with any of the tools, companies, or resources I share. These are my impressions, not tainted by any outside influences.