Not enough information to provide any really impactful advice since we don't know your spouse's income, household spending, household retirement contributions, etc.Financially, I’ll probably put the severance in a CD ladder, and “draw” a salary from the CDs each month. If I find new employment prior to depleting the full amount, then I’ll throw the “double dipped” amount at the remaining of our student loans.
Happy to provide more details, but hopefully what I provided is enough to provide meaningful advice.
However, since your spouse seems to be a high earner, you may have excess income from your spouse's job. Excess meaning you are saving more than your spouse earns now.
If that's the case, then what you do with the severance is a moot point... just consider it more income that is added to your household income.
All of this assumes that you and your spouse consider your financial situation as a whole and not separate.
Statistics: Posted by dogagility — Tue Nov 12, 2024 5:06 am — Replies 8 — Views 752