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HPAlumnipedia > Leaving > Miscellaneous > Good Advice

Alan Silverstein, Apr 2003:

I came across a nice article titled, "A survival guide for the unemployed". Worth a look.

Ron Miller, Fall 2002:

• Write down names and numbers of people you'll want to remember. Before you go, secure agreement as to who will serve as references...
  (But HP policy doesn't support managers giving references...)

• Get a written version of how to, "verify employment." HP has a 900-number kind of deal that potential employers. That should work for a few years yet after everyone you know has been dumped. Details at Employment Verification.

• Have a straight talk with the family. Some folks have noted that job loss happens only to the job holder and their family members seem to keep on spending as if nothing happened. But it needs to be said plainly and strongly that the money supply went down...

• Find a professional financial advisor you trust to help you reconsider your financial position. You've just had a major change in a horrible stock market and he might have some helpful guidance. Our advisor is quite conservative and has advised keeping 3 years' liquidity. That's way more conservative than the usual "six months" advice but it seems that conservative is proving more successful at riding this out than optimistic.

Alan Silverstein, Fall 2002:

I recommend Addison Avenue Financial Partners for starters, or Vanguard.

Jay Peat, Nov 2002:

There are two flavors of financial consultants available through Addison Avenue Financial Partners (associated with HP's credit union). I talked to two different individuals here in the Bay Area, both a financial consultant and a Financial Planner.

The Financial Planner definitely gave the best information, and I wish I had talked to her a long time ago. It would have allowed me to make some better decisions about my retirement planning.

I firmly believe that every one could benefit with working with a financial planner throughout their career. I found the Addison Avenue folks to be more than willing to give you some very sound advice and openly discuss with you how they expected to be compensated for the time they spent with you. (Four meetings and no cost yet.) But there will be some reasonable costs when I make my decisions on what I am going to do with my 401(k).

Alan Silverstein, May 2003:

Counterpoint: I received email from one ex-HPite who did not like advice he received from AAFP. He thought it was unduly optimistic (prior to the tech downturn) and biased toward commission products. As always, buyer beware.

(end quote, back to Ron)

• Budget review would be part of the above. Cut what you can. Then look for ways to cut more.