What You Need to Know About the GM Buyouts

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What You Need to Know About the GM Buyouts

Recently Detroit-based automaker GM offered buyouts to salaried employees in North America. If you’re one of 18,000 affected and stuck on what to do next, CKS Summit Group are here to help.

Life just took an unexpected turn for thousands of engineers, executives and other white-collar workers at General Motors. The announcement of voluntary buyouts (for those who have 12 years or more experience) has left many with life-changing decisions to make. While some may see this as an opportunity to leave their job and move onto other ventures, others may not know where to move on to. What’s more, if enough voluntary buyouts are not reached, the frightening potential of layoffs is brought to the table.

Six Questions to Ask Yourself

When you’re faced with leaving the workforce sooner than anticipated, you’re suddenly faced with financial uncertainties that can leave you understandably confused. Before you jump to a decision, it’s important to ask yourself these 6 questions:

1. Are you emotionally prepared to stop working?

2. Will you have enough money to last you your lifetime?

3. How can you optimize your assets to prolong your cash-flow?

4. Will this decision affect your pension?

5. Will this decision affect your spouse and immediate family?

6. Will there be tax implications to consider?

If you’re uncertain answering the above questions, then you should…

Get the Help You Need

As the deadline of noon Nov. 19 approaches you need the right answers and income options for YOU. As experts in retirement income solutions, CKS Summit Group’s cutting edge tactical portfolios help our clients achieve safe, healthy growth of their savings and preservation of their principal balance.

When faced with company buyouts and redundancies, CKS President Al Caicedo developed and refined a process called S.W.A.N. “because I want my clients to Sleep Well At Night.” This allows you to face the future with anticipation instead of apprehension.

Don’t make your GM buyout decision before speaking to a retirement income expert at CKS Summit Group.  Contact us here today.