Getting Fired? Ask One Question to Get Free Money
Getting fired is never easy. There are a whole bunch of emotions that you'll experience: from anger to sadness to very serious concern for your future.
All valid emotions. None of them will do you any good.
But a few weeks ago I discovered a question that can actually make you some money if you ever get fired. It has fast become my number one "if you get fired" tip.
If you get tapped on the shoulder and asked to step into HR's office, don't forget to ask them this one, very important question:
Will you give me the unvested portion of my 401(k) account?
What does it mean?
If you've been a responsible employee, you've been contributing to your 401k account — at least up to the company match. But most companies have a vesting schedule — which means that money they "give" you isn't "yours" until you've worked there for X amount of time.
So after one year, you only "get" 10% of the total they've matched. After three years, maybe it's around 20%, and so on. The longer you stay, the more of it is yours.
But technically that money isn't yours until it's vested.
But a lot of employers are willing to give you the unvested portion of your 401(k) account if/when you're being let go.
Especially if it's not performance related and they just need to downsize. It's not that big of a deal to them and in an effort to make these kinds of moves as painless as possible, there is a good shot you'll get this money.
The worst thing that can happen? They say no.
Has anyone out there had success with this?