Retrenchment and unexpected income loss can have a massive financial and emotional impact on many Australians.
Have you experienced:
- Loss of job
- Large investment losses
- Loss of retirement income
- Loss of investment income?
For some, financial loss may mean seeking income support. For others, it could mean revising retirement plans or cutting down on household spending. Regardless of the circumstances, most people feel understandably distressed in the face of unexpected events that involve significant loss and change. In some cases, this reaction may be similar to grief.
Research shows job or financial loss can increase your risk of health issues, such as depression and anxiety. However, there are practical steps you can take to regain a sense of control over your current situation.
beyondblue has developed a booklet, Taking care of yourself after retrenchment or financial loss, which is designed to help people affected by difficult financial times. It contains practical tips and details about where to get help.