Sorry for your job loss.
Your portfolio is $2.45 million and you will receive one year severance. Check your state’s unemployment rules to see if you are also eligible to collect unemployment benefits.
Outside your portfolio, do you have any other assets such as home equity?
What is your projected SS benefit at age 62/67/70 if you never work again?
Is your $5 million portfolio target for retirement at age 50 set in stone?
The one-year severance affords you time to ponder and make the life and job choices that suit you best. A worst case financial scenario is that you turn this job down and remain permanently unemployed (an early retirement). Is your $2.45 million portfolio at age 40 sufficient in this scenario? Could you live as you wish to on $73.5k per year (a 3% withdrawal rate)? The $73.5k needs to cover everything - living expenses, travel, retirement healthcare, income taxes, etc. If yes, this opens you up to first designing your future life and then deciding whether or not this job (or any other jobs you are offered) are a good fit for you aside from just the salary paid.
Your portfolio is $2.45 million and you will receive one year severance. Check your state’s unemployment rules to see if you are also eligible to collect unemployment benefits.
Outside your portfolio, do you have any other assets such as home equity?
What is your projected SS benefit at age 62/67/70 if you never work again?
Is your $5 million portfolio target for retirement at age 50 set in stone?
The one-year severance affords you time to ponder and make the life and job choices that suit you best. A worst case financial scenario is that you turn this job down and remain permanently unemployed (an early retirement). Is your $2.45 million portfolio at age 40 sufficient in this scenario? Could you live as you wish to on $73.5k per year (a 3% withdrawal rate)? The $73.5k needs to cover everything - living expenses, travel, retirement healthcare, income taxes, etc. If yes, this opens you up to first designing your future life and then deciding whether or not this job (or any other jobs you are offered) are a good fit for you aside from just the salary paid.
Statistics: Posted by HomeStretch — Mon Apr 22, 2024 6:36 am — Replies 4 — Views 1203