Redundancy Options

If you have been made redundant it is important to first remember it is your position that became redundant, not you. Most of the time, employers would love to keep you on.

For some, redundancy can be a complete shock and leave you feeling uncertain about your future. Here are some things you can do:


A redundancy package can be complex with a range of tax implications. You can reach out to a  financial adviser or tax adviser if you have any questions. At Master Your Money Now, we are an award-winning financial agency who provides financial advice and develops financial plans for couples and individuals in Geelong and online.


You will likely have many questions and it will help to be aware of all the options that may be available to you.

Common questions include:

  • If I receive a lump sum should I pay down the mortgage? Or maximise pre-tax super contributions?
  • Is this now the right time to retire?
  • Do I need to secure new employment straight away?
  • Do I need to seek employment at the same income level? Or is this an opportunity to scale back?
  • Can and should I access super?
  • How long can I afford to not be employed?


Each person’s redundancy scenario will be different so it makes sense to reach out to your financial adviser who understands your individual financial circumstances and your lifestyle goals.

Here are just some of the ways our financial advisers can assist you through this time:

  • Listen to you and support you as you navigate your next steps
  • Help you understand the redundancy package
  • Review your budget and identify any changes to spending if required
  • Determine your eligibility for Centrelink benefits
  • Consider your retirement position
  • Review potential opportunities

So if you need financial advice after being made redundant, choose Master Your Money Now and book a free consultation with our team.  

If this is a topic that you would like to discuss in more detail, please go to to book in your complimentary 30-minute strategy session.

If you want to know more about Master Your Money Now, go to and follow Master Your Money Now on:

Master Your Money Now – Facebook –

Master Your Money Now – Instagram –

Master Your Money Now – LinkedIn –

Master Your Money Now – YouTube –

Liked this article? Share it with your family, friends and work colleagues!

Disclaimer: This information is general information only.  You should consider the appropriateness of this information with regards to your objectives, financial situation and needs. Past performance does not guarantee future returns.



Stay in the know with the latest updates, insights, and exclusive content delivered straight to your inbox.

First Name image
Last name logo
Email Address logo
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.


Like and follow our Social Media accounts
Vista Financial Group Pty Ltd (ABN 16624573039) t/as Master Your Money Now is an Authorised Representative of Count Financial Limited ABN 19 001 974 625 AFSL No. 227232 (“Count Financial”) which is 85% owned by Count Limited ABN 111 26 990 832 (“Count”) of Level 8, 1 Chifley Square, Sydney 2000 NSW and 15% owned by Count Member Firm Pty Ltd ACN 633 983 490 of Level 8, 1 Chifley Square, Sydney 2000 NSW. Count is listed on the Australian Stock Exchange. Count Member Firm Pty Ltd is owned by Count Member Firm DT Pty Ltd ACN 633 956 073 which holds the assets under a discretionary trust for certain beneficiaries including potentially some corporate authorised representatives of Count Financial.

Vista Finance and Lending, t/as Master Your Money Now is also Corporate Authorised Credit Representatives (No. 522226) of Australian Finance Group (AFG) Pty Ltd ACN 066 385 822 Australian Credit Licence 389087.​
Disclaimer |
Complaints |
FSG/Privacy Policy |
Terms of Use