Submitted by howboutthisthen t3_10q6jnd in personalfinance
I am 56 and need to quit my job for mental health reasons. I have about $550K in investments. I am in the middle of getting divorced, hope to wrap it up by the end of 2023 and expect about a 1.5 mil settlement. Will I be ok not working for the foreseeable future?
RO489 t1_j6o4ucp wrote
We don’t know your expenses. How long is the foreseeable future? What have you been doing to work on your mental health? I know people who quit, use it as a reset, and rejoin the workforce. I know people who quit, lose the structure of their day, let themselves go, and have their health suffer. It’s a leave of absence an option?
Either way, it is harder to rejoin most industries if you’re older and if there’s a gap in your employment. So is your settlement enough to cover your expenses for a few years without impacting your quality of life? If you’ve got expensive cars and a huge mortgage, probably not. If you live a modest lifestyle in a low or medium COL location, you’re more than fine