My wife and I are trying to figure out how to split up assets/liabilities as a divorce appears imminent. We have about $150,000-$175,000 equity in the house and would split half upon sale.
Taking my half and paying off $20,000 401k debt and whatever fees for selling the house would leave me with $40,000 give or take. I'm wondering whats the best thing to do with that money. I guess my plan at this point would be to set aside an emergency fund and put the rest into an index funds.
About me: I'm 36 years old and have 2 children ages 4 and 2. I make $70,000 but I live on the outskirts of the sf bay area where the cost of living is expensive. I have about $100,000 in my 401k. My wife and I make the same amount of money and don't anticipate having to send much money her way as we will split custody of the children. Renting a new place would run $1500-$2000 a month based on size and location.
It seems straight forward but I feel like I'm missing something with regards to best use of the money. Any advice would be much appreciated.
Submitted March 29, 2017 at 10:26PM by Ucscprickler http://ift.tt/2nl13Lf
