Glory be

And so it begins- I received my labor board issued ATM card today. I pulled it off the paper it was stuck to, activated it, and found out my balance was (drum roll) $0. That's right, a big, fat goose egg. Finding this perplexing, as the paper work had informed me my first two weeks of unemployment compensation would be on a debit card, I checked my bank account. Voila, I got to bypass the pesky card on the first claim and received the money a la direct deposit. Yay! Another baby step in this goliath hamster wheel I am spinning.

What I really need to do now is buckle down and figure out what I will be doing with my 401(k). I am more than daunted by it and thus put it off. However, my deadline for a decision is approaching rapidly so it looks like I will have to hunker down in the next few days. I bugged my finance-savvy relative for some advice and he suggested strongly that I try to keep my assets and stay with the same company as I roll into a traditional IRA. So, looks like I will be spending a little time on the phone with someone in India hammering out the logistics of that move. The company that holds my 401(k) at present is ING, and I'm pleased to keep my retirement in their hands as I have my (rapidly depleting) savings account with them.

What's left? For starters, there's the resume. And looking into graduate programs. And devising a budget for myself. Just the tips of many glaciers. Go-go-gadget patience!

Week One - The Scramble

The pink slip has arrived. It's not a bad dream, and it certainly wasn't the best Christmas present. There's no denying it though, and it's all been processed so now it's time to slip into survival mode.

1) What now? --Too broad and overwhelming. Next.

2) Providing for the basics --Time to round up your list of necessities. What will you need no matter what in moving forward? For me, the necessities are going to be registering for unemployment, acquiring health insurance, and rolling over my 401(k). While lining up those duckies, I made sure to schedule as many doctors appointments as possible before my existing health insurance was discontinued.

I found the unemployment compensation site for my state, and it took me approximately an hour to fill out the necessary forms in the application. Information that was required included my first and last dates with my former employer, sed employers full address including HR contact information, and personal information including my social security number. The only odd question asked: "Highest grade completed," and had a drop down menu from 00 to 17. So 0-12 is the equivalent of grade school and 13-17 denotes higher education. Simple enough question but oddly presented. After submitting my application, I received confirmation of eligibility for unemployment compensation (UC) in the mail within a few days. The notice listed my weekly allotment from Uncle Sam, and the number of weeks which I would be enrolled. Unemployment in my state requires you to resubmit online every two weeks.

One down, two major hurdles to go. Onto heath care. I looked at http://www.individual-health-plans.com/aetnahmo.htm to find a good but affordable plan. The application process took over an hour, mainly because you were supposed to write down every single doctor's visit and prescription occurring within the last 5 years. I don't know how you are supposed to remember such things, but I think as long as you are thorough and honest as possible it should be ok. I received a follow up call- because my 2 hours of toil on the application were'nt quite enough- and was asked several more health-related questions. I panicked a little at that point, worried that the insurance company would find me too high a risk. Luckily, within a little over 36 hours I received phone and email confirmation that I had been accepted for coverage. Phew.

Last but not least I have the 401(k) rollover hurdle to surmount. I requested hard copies of all of my financial information from my 401(k) carrier and am awaiting it in the mail. Apparently there is a 30 day grace period to figure out what you want to do with your meager (and more than likely decimated) retirement fund. Lucky us.


Ok, so all in all I was able to get 2 major items taken care of and I'm not feeling quite as panic-ridden and desperate. I have started looking at masters programs and just discovered that a local community college is offering free tuition to people who were laid off from September to present. I think that's a deal you can't beat with a stick, and I may take advantage of all 12 available free creduts in the spring. Move aside zitty freshman, this white collar cast out is coming to cramp your style and break your grade curves.