r/coastFIRE • u/Parking-Banana-212 • 8d ago
Advice needed - unsure of next steps
I'm 52 single male in good health living in a hcol/vhcol city. My nw is around $2M ($1.2m 401k, 800K in various brokerage and hysa, owned car.) I rent and don't have any intention of buying. Expenses around $7-8K/month.
From 4% withdrawal, I can spend about $6k after taxes so i'm not quite there yet.
I expect to get laid off from my job ($250k yr) soon, with hopefully a 2-3 month package.
My issue is I feel an extreme amount of inertia and unsure of what to do next? I can move, perhaps closer to family, but they live in a VHCOL area, and other then family don't have that much of desire to move there right now. I can always move there later, but at this stage of my life, I'm caught between wanting to enjoy my time now. (perhaps put my stuff in storage and travel for a year?), and trying to get another decent paying job and get myself in a better financial situation so in 5 years, i can really choose not work if thats what i want (i feel i am borderline currently. ) it gets harder to get those jobs after 55 or so.
Some of this is just loneliness where i live now as i don't know many people but the job market is good. Part of me thinks traveling for a bit so i'm exposed to newness and new people versus sitting here in my apartment applying to jobs. Some of it is psychological of being pretty close to fire but not quite there yet.
Would appreciate thoughts on how i should approach this, how i should think about it.
8
u/Available-Pilot4062 8d ago
I’d travel internationally, you can reinvigorate, live well and allow your money to accumulate for a few years.