Hi all,
Just received notice of my role going away effective the first week of the new year. Curious to get the forum's opinion on next steps based on the current balance sheet:
Assets
401k: $440,000
Checking: $83
Taxable Acct: $695,000
Car: $25,000
House: $1,190,000 (purchased in Seattle in November 2016)
Liabilities
HELOC @ L + 3.50%: $217,000
Net Worth: $2,133,000
I am expecting my severance package to total about $26,000 excluding the 2 months worth of COBRA. 2018's expenses should come in around $55,000 which could obviously be trimmed. We are a family of 3 including a 2 year old child. Wife does not currently work.
Open to a wide range of ideas. I don't think I'm quite at FIRE status, though know I'm close with some shuffling of assets (downsizing the house).
Appreciate the forum's thoughts!