My husband works for his family's company and has for about twenty years and some change. Another company is in talks to buy the company, which would include all his stock. He estimates he will recieve about $400k, but likely lose his job in the process. He has no degree because he has always worked for the company and his ex-wife discouraged it. Also, I am currently unemployed and seeking a position (I am a Copywriter and the jobs are a bit scarce or get snatched up quickly).
We worry a bit about what will happen and how we should plan. I am wondering, if this goes through, if we should first look into buying a home. His ex-wife ruined his credit and this might be the smartest way for us to not only buy a home, but cut a big future cost.
I would love any advice for planning, if this deal goes through. Should we buy a home? Is it likely he will still be able to find employment if he has only worked for the family company and has no degree? Is there a financial strategy that works best to ensure that our money lasts as long as possible? And if we purchase a home early on and save $100k, is it likely we can survive on maybe $50k a year?
Submitted May 07, 2019 at 03:46PM by iheartegon http://bit.ly/2VaxQmJ
