Article featured by The Globe & Mail on March 3, 2025
The article by Daniel Reale-Chin is incredibly timely. With concerns about a recession, a trade war, and layoffs dominating the headlines, I am increasingly hearing questions from my clients about what actions they can take now to lessen the impact on their livelihoods if they or their partner lose their jobs.
Thank you, Daniel, and The Globe & Mail, for inviting me to share practical advice about a possible job loss in these uncertain times. Below is an excerpt from the article with our recommendations:
"To help clients prepare for potential job loss and recession, Chris Merrick, a fee-based, advice-only financial planner and founder of Merrick Financial Inc., takes a three-pronged approach: increase their emergency savings fund, decrease discretionary spending and update their budgets.
Classic examples of discretionary spending such as eating out, buying clothes and taking vacations come to mind for people looking to curb their spending, but Mr. Merrick also recommends his clients look at their spending on Amazon and other online retailers that offer “one-click” payment."
Click below to access the article and know more about how to better prepare for a possible layoff.
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