So, More on the Good News

I wanted to share more about Mr. Sam's new job.

First, the positives.  Mr. Sam obtained new employment while he was still receiving severance from his old employer.  As such, we never had a real gap in income stream.  Mr. Sam also was able to obtain a few weeks of unemployment compensation from the State of Florida and we continue to have health insurance, paid for by his employer, until October.

The new job is with a much smaller company than Mr. Sam is used to working for.  But, that will provide him with more autonomy and opportunities for growth.  The new position is also an exact fit for his skills and experience.  Finally, the new job is located in reasonable proximity to our home (his commute is about the same distance it was before).

Second, the negatives.  Mr. Sam is not overly excited about the compensation.  While he believes he is being paid within the proper compensation band for his experience, education, etc., he is on the absolute low end with the new employer.  Furthermore, the benefits are not nearly as generous as his last job, which provided a 20% match on the 401k along with such awesome health benefits that I opted for their insurance as well.  The new company has also had a lot of turn over and flux with leadership, which is not surprising based on their growth and the size of the company.  And while the unsettled nature of this company may be a negative as I mentioned above, it is also a positive in that there are some real growth opportunities.

Since this is my blog and not Mr. Sam's blog, I think, overall, that this is a positive step in Mr. Sam's career.  While the pay and benefits are a bit reduced, the chance for growth and leadership may mean that he ends up in a higher pay grade within 6 months to a year.  And whether or not the pay grade increases, he will be gaining skills and experience (hopefully) that he never seemed to get with his past employers.

Bad News

At I mentioned in my last post, the layoff we have been talking about and expecting for the last year and a half has finally showed its ugly face.  Mr. Sam has been laid off from his corporate job.

While it was no surprise, it is certainly a devastating blow to Mr. Sam and to us as a couple.  Financial and family plans are impacted.  Our day to day spending will be impacted.  Our 2013 savings goals are impacted.  Our long term financial goals are impacted. Etc.

We are in the process of sorting out his plan forward and our plan forward.