Retrenched without notice

 https://cna.asia/3HbLsbq

This morning we heard of Lazada retrenched without notice; and even recalled the staff back from leaves just to be issued the R" Letter.

One of the real nightmares is to be retrenched without advanced notice or due to poor performance or other damning reasons.

This is esp. worrying if you are sole breadwinner of a young family with schooling kids.

Imagine that it happened to your children or loved ones who just started their family.

My first Resale Endowment policy was bought from a young housewife of 30yo.  According to her agent whom I met later, her spouse was retrenched and she might have surrendered her policy (~$10k+) to support the family.

Sad but harsh reality.  My takeaway:
1.  Std answer: Build up a second source of income, be it from another part-time job or passive income.

2. Choose your SAFE secure job properly. But have a mindset that your job can be taken away from you; lest to get emotionally attached to the job.

3. As parents, give a lifeline to your children;
- build up their passive income
- give them in cash, a quiet solace to their situation
- let them learn to invest

The critic would say that you maybe pampering them.

Any comments ?

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