Nothing stupid. Make sure my LinkedIn account is free of grammar mistakes, representative and honest.
Here's some food for thought; See that Merckmobile out in the driveway? I hope you own a car. Your gonna need one. Your severance check isn't going to be as big as you think it will be. Taxes, and 401k will hit it hard. If you live in a state that has similar Unemployment Insurance laws to my state, you wont collect UI until your severance is depleted first. Good luck to all.
If you think you're in jeopardy go into PeopleSoft and cancel your 401k deduction. Severance checks are taxed at 'special payment' rates so there is no t ax benefit on the check for 401k - and you'll likely need that extra money more now than later! If you don't walk the plank you can start up the deduction again once the coast is clear. Good luck.
Correction! The Feds will hold 35% of your severance. I had counted on 25% and, when I got it, I was shocked. Certainly not what I expected! It is taxed as a bonus would be. But they did not take any 401K out of it. Within days I started getting letters from Fidelity about what I wanted to do with that. Hope this helps as I just went through it two months ago.
Why brokers? Vanguard is tough to beat, a simple roll-over from Fidelity 401-k to Vanguard personal IRA or Roth IRA is easy, lots of investment options that should be solid for the long term. You can do it yourself with a little study. Look for funds with low cost and low turnover. Diversify, Diversify, Diversify. US large cap, US mid cap, US small cap, lean towards value over growth. Do the same with International funds, Intl large cap, mid cap and small cap. Add emerging markets. Maybe some real estate funds, specialty funds, etc... if your $ balance warrants such. You will want some bonds, not much until you are past 50 years old(in my opinion). When you are comfortable with these things, and you have two commas in your balance, try some individual stocks. You dont need a broker, every % you pay, you have lost.
