I need advice.I hope someone can help.I currently earn about 90k per year.My monthly expenses are easily 4k.I have 47,000 in savings which is earmarked for emergency.I have 183,000 in deferred compensation.I have at least 40-60k in equity in my coop.I have about 9500.00 in stock.I have about 20,000 in credit card debt.3k left on my car loan2nd car worth 6k - husband drives.Husband is in school, brings in no money.I live in one of the most expensive areas in the nation.I am retiring from my job in 100 days.My pay will be cut in half, possibly to 44k.I do plan on going back to work. I am only 45.I have an MA and I have a paralegal certification andI consider myself very employable so I am not horriblyworried about getting a job - somewhere.I just don't want to do all this under extreme pressure, which comes when one doesn't know what one is doing.(or can't find their butt with two hands)Clearly, I am not prepared. So I have to get prepared.I know I have to cut down expenses. I have the LBYM board for that.I read that I should pay off the debt. But my question is...taking such a large paycut and being the only bread winner, is it wise to cut my emergency fund in half?I realize I could also refinance and pull equity or not. Need a lawyer to answer this one...I wish to not become a joint tenant on the deed with my husband. It is a pre-marital asset and he has contributed nothing toward the place in the entire marriage. I am afraid that just the act of refinancing will make it a marital asset. I would rather keep the insanely high interest rate. the payment is still only 490.I'm ready and willing to tighten the belt but I want to make the right decisions. Can anyone help with these questions?And anything else you have to add is welcomed.Thank you so much.
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