Losing w-2 job, where to go from here

2 Replies

I just found out that my job will be going away in 2-5 years. I was semi expecting this in the next 10-15 years which is why I got started in real estate investing. Two years is too quick to have much rei experience. ThIs Is a really hIgh payIng job for the area and I am faIrly certaIn I wont fInd thIs salary near here. As I see it now I have a couple options. 1- continue working at current job with high salary and build portfolio of rentals. Get lower paying job when fInally let go. 2-leave area foR saMe salary range and sell current rentals since I am not comfortable being long distance landlord. 3-cash out and pay taxes and penalties on ~$200k 401k and really jump start my rental portfolio to replace lost income. 4- some combination of these. Considering all options at this point since I have at least 2 years before have to make decisions. Thanks

If it were me I definitely wouldn't cash out retirement with those hefty penalties, you have 2 years to find something in the same pay range and area, maybe nothing comes up but it only takes one over the span of two years.  As you get closer to the end you might start to look for a lower paying job or jobs in other locations.

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