Work Advice

Get the low-down on everything from rainy day funds to benefit plans.

Look who’s a grown-up now.

How Do I Rock a Job Transition?

A career transition is full of excitement and fresh beginnings. It can also be full of questions about benefits, retirement, schedule adjustments and managing your money. Now is the perfect time to make sure you’re capitalizing on everything your employer (or stay-at-home job) has to offer.

Let’s make sure you hit the ground running. Ask yourself these questions:

Work Advice - Are you saving for retirement?

Do you have gaps in insurance coverage?

Most workplaces give you a smattering of benefits, but these benefits often don’t give you complete coverage. For example, most employers only offer 1-2x your annual salary in group life insurance, whereas we recommend having at least 3-7x your pre-tax income. Use our insurance calculator to see if your employer coverage is enough to meet your needs.

Pro tip: A stay-at-home parent may not have a “boss” to report to (besides a finicky three-year-old), however, typical benefits like disability income insurance are still incredibly important. You can look into purchasing individual policies to fill this gap.

Work Advice - Are you saving for retirement?

Are you saving for retirement?

No matter where you are in your career, putting money aside for retirement is important, especially if your employer offers matching dollars.

Pro tip: Take full advantage of retirement offerings from your employer. If you’re self-employed, look into opening a Guaranteed Retirement Plan, 401(k) or IRA.

Work Advice - What’s the state of your emergency fund?

What’s the state of your emergency fund?

Job transitions can come with a gap in income. As you job search or adjust to a new role, make sure you have an emergency fund to cover unexpected expenses.

Pro tip: Open an emergency savings account that rewards you. Get $100 in rewards when you maintain an Emergency Savings Share Account from Thrivent Federal Credit Union.

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Questions? Contact a financial professional.

Deposit and lending services are offered by Thrivent Federal Credit Union, a member-owned not-for-profit financial cooperative that is federally insured by the National Credit Union Administration and doing business in accordance with the Federal Fair Lending Laws. Membership eligibility required. Insurance, securities, investment advisory and trust and investment management accounts and services offered by Thrivent Financial, the marketing name for Thrivent Financial for Lutherans, or its affiliates are not deposits or obligations of Thrivent Federal Credit Union, are not guaranteed by Thrivent Federal Credit Union or any bank, are not insured by the NCUA, FDIC or any other federal government agency, and involve investment risk, including possible loss of the principal amount invested.
This rewards program is offered and administered by brightpeak financial, which is not affiliated with Thrivent Federal Credit Union. Thrivent Federal Credit Union is not responsible for managing and will have no liability related to the rewards program.
The account is not available to residents of Arkansas, Georgia, Nevada and Oklahoma.