🔺 r/personalfinanceuTourbill·74 days ago
Forced early retirement, how do I not run out of money before I die?
51M single no kids, recently let go from 25+ year IT job. I had hoped to make it to 55 but that is no longer an option. I've known for many years this would be my last job. For a number of reasons I will not find be finding new work in the same or any similar field. My health has taken a bad turn in the last year also. I've never expected to make it to 65, now 62 doesn't look realistic so I doubt I ever see any SS. I'm fine with this, I've never wanted to get that old. So I just need to figure out how to best make what I have last. House - Owe $245k estimated worth about $385k Debt - $35k 401k - $315k plus another $34k in loan debt Assests I need to sell - $75k Savings - $5k I've applied for unemployment which doesn't amount to much for me, about $5k total. Long term plan, sell everything I own empty the house and put it up for sale. It needs a decent amount of work so my guess is I am looking at around $350k sale price range. After that I will be moving to SE Asia and split my time between Thai, PH, and Viet for a while before deciding where to stay longer term. I hope to keep monthly expenses to under $1500\m there. I am not going to find a wife, gf, bar hop and hang out at massa…