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Money Guy Show

Expecting a Layoff? Do This.

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Retirement, Moneyadvice, Investing, Savingmoney, Personalfinance, Business

4.62.8K Ratings

🗓️ 26 February 2025

⏱️ 65 minutes

🧾️ Download transcript

Summary

We kick off this week's livestream with a topical question from Christian A: "I’m a federal worker, 26, and facing potential layoff. How should I prepare?" We'll walk you through Christian's situation and more in today's Q&A episode! Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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0:22.9

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0:29.9

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0:36.7

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0:56.7

Visit ServiceNow.com slash UK slash AI for people. Here's a timely question. If you're expecting a

1:02.9

layoff, what should you do? Brent, I am so excited because a lot of times life will throw us some curveballs and there will be some

1:15.1

unknown unknowns that come our way. And we want to make sure that we're prepared for those unknown

1:20.1

unknowns, at least as best we can be. And right now is no different. I love that we get to be a resource

1:26.2

for you guys, that you have questions and

1:28.5

we can load you up with answers. It's why we do this live stream every Tuesday at 10 a.m.

1:33.9

We have the team right now out in the chat, collecting your question. So if you have a

1:38.0

question, you want us to weigh in on, make sure you get it in the chat so that we can load

1:43.1

you up. With that, creative director, Revy,

1:46.4

I'm going to throw it over to you. Yep, we've got the question from Christian A to kick us off.

1:51.0

It says, I'm a federal worker. I'm 26 and facing a potential layoff. I have about 55K in my

1:58.3

TSP, 25K traditional, and 30K in Roth. If laid off, should I keep my money in the

2:05.9

TSP or move it to an outside account? And what else should he be thinking about if this is a

2:11.4

potential thing that might happen in the near future? Yeah, that's the part that stuck out to me.

2:16.1

I appreciate that Christian's trying to

...

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