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From the Northeastern Section of the ACS, focusing on career management and development
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11/17/17
Professional Behavior. Dealing with Catastrophic Challenges
Filed under: Recent Posts, Mature professionals, Technicians, Observ. Trends, Alternate Career Paths
Posted by: site admin @ 3:34 pm

We recently observed close friends living in CA who lost
their home and most of its contents to wildfires.  Another
friend was overtaken by back pain making it difficult to
work.  A third friend lost her husband suddenly.

.
These are hard things to face.  So is losing one’s job and
other “black elephant” events.  
.
This entry offers some ideas for actions you can do
at separate stages in your career.
.
EARLY CAREER
 - develop a detailed “master resume” [  2 ], develop a
credible internet presence 
 - monitor daily your credit card and financial records,
noting unusual events.  Have an action plan ready–
 - have an 
action plan ready for losing credit cards, cell
phones or cars
.  Don’t wait for the unfortunate event to happen–
have paid up insurance, contact numbers organized,
detailed information to provide 
 - record retention file guidance retention
1 year:  payroll stubs, bill statements
6 years:  income tax records and related forms
7 years:  critical slips, statements and cancelled checks
Permanent:  investment records, pension papers, insurance
policies, contracts, personal-  birth certificates, military,
marriage, divorce, adoption, naturalization and citizenship
real estate
 - always enroll in substantial disability insurance
.
MID-CAREER
 - continue all the early career record-keeping
 - formulate a document location spreadsheet, what is in
your safety deposit box
 - have a list of people and institutions with their contact
information for banks, brokerages, lawyers, physicians
 - formulate a will, powers of attorney, and care for
children:  instructions who would raise them in your
absence
 - organize important family photos, papers and records
 - take the initiative to ward off identity theft 
.
CLOSE TO RETIREMENT
 - visit trust attorneys and determine who you would like
to represent you
 - interview and work with a financial adviser
 - organize a checklist for what to do when a loved one
dies [see comment]
 - wealth transfer planning

2 Responses to “Professional Behavior. Dealing with Catastrophic Challenges”

  1. site admin Says:


    Deloitte Checklist to help when a Loved One dies
    a. Meet up a friend to spend the first few hours
    b. Appointment with a funeral director
    c. Locate important family documents and contact information
    d. Be aware of frozen assets and actions to unfreeze
    e. Appointment with trust and tax attorney
    f. Inheritance tax office if not helped by trust attorney of financial adviser
    g. Contact employee benefits offices and social security with pertinent reporting information
    h. notify Medicare
    i. Insurance benefits may be advanced before claim is fully honored
    j. Track all expenses for tax reporting
    k. Update legal and financial documents
  2. site admin Says:


    Place important documents in a cloud storage file cabinet as well
    as on your working computer.
    I store many in google-docs and have a personal web-page.

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