Unfortunately, job layoffs are a stark reality in times like this. Consider taking the following steps to protect yourself and be financially prepared:

Roll over your 401(k) into an individual retirement account. Unless you have no other option, do not liquidate your retirement account. If you do, you'll have to pay taxes on what you take plus a possible 10 percent withdrawal fee.

Raise the deductibles on your insurance policies. That way, you can lower premiums. Even if you are out of work, however, don't cancel your policies in an attempt to save money.

Spend sensibly to find a new job. Don't cut such job-hunting expenses as your Internet service fee or a newspaper subscription. Just remember that you'll have to spend some money, for things like telephone calls and printing your resumé, as you search for a new job.

Consider working as a temp. There is a market for part-time, temporary and freelance work in almost every job market. These kinds of assignments will put cash in your pocket while you look for something permanent. In fact, many temporary positions have the potential of turning into full-time employment.

Network more than ever. Don't be afraid to call on friends, family members and especially professional connections that you have made. These people can be very helpful in finding a new job.

Stay positive. If you are having difficulty finding another job, don't get discouraged. Times are tough. Try to learn from each interview and keep improving yourself.

Goran Jovanovic

YOUR World Class Realty Team

Keller Williams Elite

Direct: 954-243-7570

www.goranflorida.com