Newly unemployed with ??

scout59
Fri, 16 Mar 2007 12:51:51 +0000

Recently my employer announced the closure of the research facility where I’ve worked for 23 years. Since my DD is a high school junior, my husband and I have decided against relocating to another facility, which means I’m probably looking at a career change.

I’m ALSO looking at a big change in my salary. My family has always lived frugally, and my husband still has a job (with benefits), so I’m counting my blessings. I?m guessing that eventually, after some luck (or some retraining), I can find something paying about 40% of what I used to make.

My immediate question is this: my income is going to be crazily uneven for the next few years ? it will be artificially inflated by my severance pay, and then probably nothing for a year or two as I retrain. During this time my daughter will be applying to colleges (and for financial aid.) Am I right in assuming that we just fill out the FAFSA every year and keep schools apprised of our changing finances?