Good planning now ensures ‘luckier’ future |

Good planning now ensures ‘luckier’ future

Marc Cuniberti
Special to The Union

With the economy still sluggish, companies may continue to cut back employees and that means you or people you know could be at risk of losing your job(s).

How do you prepare and possibly reduce the threat of someone deciding to cut you from the workforce, thereby eliminating your means of supporting yourself?

It's best to prepare ahead of time so if it does happen, you will have already taken the steps necessary to becoming self-sufficient. Taking steps to isolate you from other's decisions will also reduce your stress levels, which may pay multiple benefits down the road.

Start by identifying the work you are best suited for. Review your experience, your education and your lifestyle and decide which career path meets your personal traits.

Consider changing careers if you are in a job whose industry is being scaled back and pick a job that will best fit your work habits.

Reach out and make contact. Develop a personal and work support network. Touch bases with as many people in your field as possible through personal networks and public media sites like LinkedIn and Facebook.

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Create multiple streams of income. Two jobs, an at-home network or business, part-time work, commission sales; all can add to your security. The more income streams the better.

Consider starting your own business. You won't fire yourself.

Begin by starting small and spend as little as possible, with the aim being to invest slowly as your business grows over time. Let sales drive necessary expansion versus the other way around.

You should also start building a nest egg of income dividend paying stocks if you can afford to put some money in an IRA or similar retirement vehicle. Make a habit out of putting the same amount away each paycheck.

And start saving some money now. The more you put away, the better. Even saving a few dollars a week can go a long way in having a rainy day fund, which allows you to sleep better at night, knowing you have some money to fall back on should the unexpected happen. Remember, good luck is usually the result of good planning.

This article expresses the opinions of Marc Cuniberti. He hosts "Money Matters" on KVMR FM 89.5 and 105.1 FM at noon Thursdays and is syndicated on more than 30 radio stations throughout the U.S. His website is

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