I’m 35. Grateful to have learned about fire to be in an okay situation right now, but still very anxious. I just got laid off from my tech job (was making roughly 215 a year) and only got a small amount of severance. I will get unemployment that will cover some of my rent while not working. I have a partner and don’t plan to have kids. The financial numbers below are just mine though, I would prefer not to have to ask my partner for support unless absolutely necessary.
Financial picture:
- 522 Retirement Accounts
- 483 Brokerage
- 85k Cash (Was saving for a home down payment before the layoff)
Debts:
- None
Expenses:
VHCOL City
- While working: 7,000 month
- While not working: 4,000 month (possibly a bit lower)
For coastfi long term I am targeting 80,000 a year spend.
Complicating Factor
- I have a chronic illness that has quite expensive care. Right now I am lucky that I’m able to be on my partner’s insurance.
Other Financial Goal:
Buy a duplex, to make our housing costs lower in a VHCOL city. I’ve done a bit of research on this and feel comfortable that we could have a lower monthly payment (than our current rent) and more stability by living in on side of the duplex and renting out the other.
Plan:
- Spend 6 months to try and find a remote tech job with decent work life balance. Try to spend as little as possible, dipping into the cash as needed and not touching brokerage or retirement accounts.
- If no traction after 6 months, think about a transition to a coast fire job. I’d prefer not to do this yet as I’d like to save more for the unknowns of my healthcare and be able to buy a duplex.
Does this make sense? I know I’m close to CoastFi but I don’t feel secure right now, maybe it’s just the instability of the tech job market. Any feedback appreciated.