For working people, a paycheck is a lifeline. It connects you to what you need in life, from housing to healthcare.
Dedication and diligence will take you a long way toward keeping that salary coming, but bad things do happen to good people. Personal emergencies, an employer’s financial problems and natural catastrophes can derail that salary and send your life into a tailspin — unless you are ready for them. But how to get started?
“Preparation prevents poor performance,” is the motto of Christie McPherson, CEO of AIM Advising, a career search organization. McPherson said you can “disruption-proof” your pay as long as you act early.
“Preparing for disruptions, hurdles, challenges, layoffs, pay cuts and hiring freezes is crucial to your financial stability,” she said.
With McPherson’s help, we’ve outlined 10 big threats to your paycheck, and how you can protect yourself.