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I recently find myself without a job at age 56; job abolishment! My wife and I have $600,000; which includes $220,000 in a 401k plan, the rest is in real estate which we intend to sell soon and invest the (what's left after capital gains) money into a couple of mutual funds (First Hand Tech., Dredsner Global Tech and maybe some stocks). We also have 2 homes; one of which we will rent out. What would you advise in this situation? Any suggestions??
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<< I recently find myself without a job at age 56; job abolishment! My wife and I have $600,000; which includes $220,000 in a 401k plan, the rest is in real estate which we intend to sell soon and invest the (what's left after capital gains) money into a couple of mutual funds (First Hand Tech., Dredsner Global Tech and maybe some stocks). We also have 2 homes; one of which we will rent out. What would you advise in this situation? Any suggestions?? >>

Before you do anything else, consider health insurance availability and cost. Assuming your wife is near your age, you both have a long haul until Medicare is available. An uninsured medical problem could wipe out a significant portion of your assets in a heartbeat.

TMF ExRO
Phil Marti
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Also take a look at the Early Retirement board, at http://boards.fool.com/Messages.asp?id=1380025000952000 and the Retire Early homepage, at http://www10.geocities.com/WallStreet/8257/reindex.html for a huge amount information about these topics.

Good luck!

Dory36

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Your general question probably generated more questions. Are you going to continue to work and/or get rent income? Have you thought about your assets potential in other vehicles? Rate of return and such. What is your risk aversion level?If in the rental business, will you hold the property for X amount of time and sell buy more and the cost?


Tigerman
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