Redundancy can affect anyone from the chairman to the trainee. In this situation, there are many things to consider. It is important to understand how you can manage a redundancy payment so you can make the most of it.

Make sure you get the right advice so that your payout provides long term benefits, for example you may choose to reduce your mortgage or invest it for the long term in growth assets such as shares or contribute it to your super.

Bridges financial planners can help you plan for redundancy to make sure your payout is used wisely. For more information contact The Capricornian on 1300 314 900 or visit one of our branches to arrange a complimentary, obligation free initial appointment with a Bridges financial planner.