Grey Swan Events

I wanted to consider events that don’t help financially, I was trying to think of examples so here goes.

Example 1. You’ve just taken out a mortgage on your first home with your partner or husband / wife, and one of you suddenly need to give up work for some reason or another, could be to look after another member of your family. Yes you loose a full time income and still have all the same bills to pay, at least to start with.

Example 2. Your boss offers you a redundancy package, after 20 years with the same company, you realise at age 60, your money purchase or DC fund as people in the industry like to say isn’t going to buy you much of a pension. And the state have assessed that you saved diligently and won’t help until your 67, or your saving are below a certain level. What do you do?

I don’t necessarily want answers in the comments below, but just want you to think about how this can affect every day people. These events could need some guidance from a financial adviser, or a member from citizens advice, or from your pension company. However they may not come up with the solutions that are right for you?

What do you do?