Might Lose My Job!

[bows00]

if you do loose your job you should be the happiest man in town. For a start you get a little push to do something new, explore a new way of life, you get to do that while still young where many do not have that Opportunity. :lol: :999:

Thank you so much for that... I trully feel better about my situation now. I was too focused on the glass half empty.

[Jack Peterson]

if you do loose your job you should be the happiest man in town. For a start you get a little push to do something new, explore a new way of life, you get to do that while still young where many do not have that Opportunity. :) :999:

Thank you so much for that... I trully feel better about my situation now. I was too focused on the glass half empty.

:thumbsup: :541: :tiphat: Enough Said I think

[sonjack2847]

I was in the same situation as you and I tried to get work in the uk but the construction industry is dead. Rent out your condo, come and live here on your savings for as long as you can, then make up your mind. What have you got to lose your mortgage will be paid and if you have $60000 that can last you a long time depending on how you live. Go for it mate this opportunity may never come again. At least if you don`t like it here after 6/12 months you can still try again in the USA.I wish you all the luckKevin

[kaku]

You can withdraw from your 401K plan before 59 by rolling it over into an IRA and taking what the IRS calls "separate equal payments". This allows you to withdraw annual amounts from your IRA without the early withdrawl penalty. If it were me, I would invest in some high yield bond funds (some pay 6%+) and emerging market bond funds. Why? They pay regular monthly dividends. If you had $1,000,000 to invest (700,000 - 401K + 300,000 equity from your condo sale), you could easily have an income of over $50,000 a year. Eventually your federal pension will kick in also.

[MikeB]

You can withdraw from your 401K plan before 59 by rolling it over into an IRA and taking what the IRS calls "separate equal payments". This allows you to withdraw annual amounts from your IRA without the early withdrawl penalty.

I wasn't aware of that but it's so, it's called a 72(t) exception. You can avoid the 10% penalty but there are strict rules on the withdrawals that must be adhered to.

[bows00]

In addition, I am currently selling an investment condo which I bought with my ex girlfriend. I am hoping I will be getting my $50K back from the sell (acutally will be losing money on the investment due to commisions and misc costs). So in about a month, I am expecting my cash situation to be at about $110K. It's a lot of stress when your future plans change so drastically. I count my blessings that I am single and dont have the responsibilities that come with raising families (i.e., college tuition!). But none the less, it is still quite stressful...

[OnMyWay]

In addition, I am currently selling an investment condo which I bought with my ex girlfriend. I am hoping I will be getting my $50K back from the sell (acutally will be losing money on the investment due to commisions and misc costs). So in about a month, I am expecting my cash situation to be at about $110K.It's a lot of stress when your future plans change so drastically. I count my blessings that I am single and dont have the responsibilities that come with raising families (i.e., college tuition!). But none the less, it is still quite stressful...

You are in great shape and you should be looking forward to your freedom! My last day of work was last Friday and I can't overemphasize what a great feeling it was to not go to work today and know that it is a permanent vacation! My friends and relatives are all jealous!

[gottawannalive]

Welcome to America

[Jake]

In addition, I am currently selling an investment condo which I bought with my ex girlfriend. I am hoping I will be getting my $50K back from the sell (acutally will be losing money on the investment due to commisions and misc costs). So in about a month, I am expecting my cash situation to be at about $110K.It's a lot of stress when your future plans change so drastically. I count my blessings that I am single and dont have the responsibilities that come with raising families (i.e., college tuition!). But none the less, it is still quite stressful...

You are in great shape and you should be looking forward to your freedom! My last day of work was last Friday and I can't overemphasize what a great feeling it was to not go to work today and know that it is a permanent vacation! My friends and relatives are all jealous!

Hello OnMyWay,Doesn't it feel great not to wake up with that damn alarm clock again and facing the morning and afternoon commute? You should be commended for keeping your job of nearly 30 years of dedication. And now, it's the freedom of beingfree. But it comes with a catch, I think. I could remember attending my own retirement seminar from the US Navy in 1990. The medical officer flatly said that 20% of us will pass away within 5 years. Wait a minute -- no way that's going tohappen to me. I was only 39 years old when I retired after 21 years of active service. But then he produced medical documents to support his statement which made me listen more intently. He said thatretirement is an overnight change of life. Without the work related stress, you will acquire new set of headaches --(financial, marriage, mid life crisis, health issues, etc). One thing I would like to emphasize is to get back to your old hobbies of keeping you young and healthy. Consider itthe most important challenge in your new life by maintaining a weight loss program and daily exercise of your favoritesport back in high school or college. Please believe me -- maintaining a healthy lifestyle is priceless. You may have a million bucks but what good does thatdo if you're in your death bed at age 60-65.Respectfully -- Jake

[OnMyWay]

In addition, I am currently selling an investment condo which I bought with my ex girlfriend. I am hoping I will be getting my $50K back from the sell (acutally will be losing money on the investment due to commisions and misc costs). So in about a month, I am expecting my cash situation to be at about $110K.It's a lot of stress when your future plans change so drastically. I count my blessings that I am single and dont have the responsibilities that come with raising families (i.e., college tuition!). But none the less, it is still quite stressful...

You are in great shape and you should be looking forward to your freedom! My last day of work was last Friday and I can't overemphasize what a great feeling it was to not go to work today and know that it is a permanent vacation! My friends and relatives are all jealous!

Hello OnMyWay,Doesn't it feel great not to wake up with that damn alarm clock again and facing the morning and afternoon commute? You should be commended for keeping your job of nearly 30 years of dedication. And now, it's the freedom of beingfree. But it comes with a catch, I think. I could remember attending my own retirement seminar from the US Navy in 1990. The medical officer flatly said that 20% of us will pass away within 5 years. Wait a minute -- no way that's going tohappen to me. I was only 39 years old when I retired after 21 years of active service. But then he produced medical documents to support his statement which made me listen more intently. He said thatretirement is an overnight change of life. Without the work related stress, you will acquire new set of headaches --(financial, marriage, mid life crisis, health issues, etc). One thing I would like to emphasize is to get back to your old hobbies of keeping you young and healthy. Consider itthe most important challenge in your new life by maintaining a weight loss program and daily exercise of your favoritesport back in high school or college. Please believe me -- maintaining a healthy lifestyle is priceless. You may have a million bucks but what good does thatdo if you're in your death bed at age 60-65.Respectfully -- Jake

Jake,You are 100% on target with the health factor and actually I read your Navy doctor story before, and it did impact me, in a positive way.Luckily my health is good for my age and one of my first primary goals is to improve it more through diet and exercise. Now that I am not working there is no excuse not to make it to the gym ! I am very sports minded so I hope I can find some sports buddies once I get settled in over there. Right now my hobby will be to work on my house, sell things and pack things up! In Phils I have lots of plans to continue my hobbies (SCUBA, tennis, racquetball, hiking, biking, gym,golf, bowling, etc.) and be active in other ways. Of course I will have a beautiful lady and her beautiful 7 year old daughter to keep me busy as well!Honestly, one of the key things that influenced my decision to pack it in early is what is going on in the US with older people. There are so many older people who are unable to live a good retirement. Although some work by choice to keep busy, it saddens me to see all the old people who are working at fast food joints, supermarkets, etc., just to make ends meet. I don't want to be in that position. I have the opportunity to do something else with my life and I am seizing it!Bows, didn't mean to hijack your thread but there is a message here for you. Go for it! Enjoy your life while you are young and healthy!