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Subject:  Re: Unexpected RE Offer - Help! Date:  5/6/2001  11:37 PM
Author:  1HappyFool Number:  37751 of 875692

If there is anyone out there who has read this far, I congratulate you and would ask for your thoughts and advice.

Carefully verify whether any part of your ESOP contains after-tax contributions. If so, you can get those back when you leave without tax consequence.

It sounds like your company might be circling the drain, so you'll want out of any company stock you hold ASAP.

Understand that you can split your IRA into multiple IRAs and begin SEPPs on just one of them. This allows you to keep the others in reserve to supplement your income when needed. Maybe take half of $56K via SEPPs from a half-sized IRA and try to live on that for a while.

Review all your assumptions. Do you need to stay in your current house? Your house might be a cash cow if it is larger than you need or in a high status neighborhood.

Your monthly budget is more than twice mine and I am happily RE'd. Separate it into discretionary and non-discretionary. Avoid the dicretionary expenses until you raise your confidence with either other employment or an improved financial picture.

If it were me, I would take the deal and try cutting expenses before looking for work.


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