While many of your colleagues and friends may be out of work in these trying times, you are reading this article because you have a job. However, you realize that feeling securely employed does not mean you are securely employed. Many people, at least once in their lives, will lose their jobs involuntarily, regardless of their level of hierarchy, ownership or identification and commitment to the company.

Here are 4 steps you can take now to prepare for the risk of losing your job years in advance.

Step 1: Save, save, save

The best time to save is when you are fully employed. Receive a regular paycheck and potentially a bonus at the end of the year. How much should you save for the proverbial “rainy day”? I suggest at least a full year of living expenses. This may be higher than many financial advisors recommend, but having a year’s worth of money in the bank, stored in secure CDs or savings accounts, feels pretty good. It is a great insurance policy and will give you some peace of mind. If you also receive severance pay, your money will easily stretch out to 15 or even 18 months, not counting any unemployment benefits you might be receiving. The less you’re financially dependent on your job, the better off you’ll be mentally and the better you’ll be able to cope with job loss should it happen.

Step 2: Create your “wish list”

The second step for you should be to create your “wish list”. Don’t forget to involve your spouse. Talk about unfulfilled dreams and discuss what the two of you would do if one or both of you were laid off. Would they stay where they were, take a dream vacation, start something new together, or even move? Reflect on all the things you never had time for during employment; losing your job might allow you to catch up. You save valuable time, a real gift for you. Write the results of your reflection on a piece of paper and review them from time to time. It may all be a long way off now, but having this piece of paper handy to grab if the ax falls can go a long way.

Step 3 – Think ahead under what circumstances you would even go off on your own

What if you are in fact safely employed forever? Will you ever be able to fulfill the dreams you put on paper before? You may have to ask yourself a tough question: “At what point in my life does the tradeoff of work and money versus time, time to travel, or start something new tip in favor of the latter?” You may find that you don’t want to wait for someone else to decide for you. In that case, set yourself a quit date or take a break.

Step 4 – Consider which parts of your “bucket list” you can start implementing while you are employed

The older you are, the less time you have left to fulfill your dreams that you have not yet realized. You also have a higher chance of getting sick or even dying. So, once you have your “wish list,” you might want to see what you can do while you’re employed. Maybe you take shorter trips, use your company’s sabbatical or part-time policy to take time off for a dream vacation, change your work-life balance to commit to a charity, or turn down new assignments. at work they would be too. taxing your health. Anything you can get off your “bucket list” or that might help you live longer, go for it. The time off for you may be more valuable than the associated reduction in paycheck.

In short, enjoy your career to the fullest, save and don’t forget to live life. Have your “wish list” ready. Like fire emergency training at your workplace when they show you where the ladder is to get out of the building, having money saved and your plan ready is your ticket to happiness when you’re thrown off the corporate bus.