Title hits the high points, but generally I'm starting over in life on my own and just need any general guidance I can get. Tough times and don't have much margin for error, so I need to get this right.
More background: Just finished grad school, and taking a new job starting tomorrow. Base annual salary is ~$60k, with a small bonus (and some stock options, which may be worth something someday, but can't rely on those yet). Does have health insurance, and I'm reasonably healthy, but no 401(k) match or other benefits. I have ~$10k in savings, but no retirement accounts or other financial assets. No car or other expensive personal property. I live in a high COL area, but have made a budget and this job is enough to pay the bills given my current living situation, even if not a lot of disposable income left over. I am continuing to search for better paying jobs, but zero guarantee those materialize, so I have to build with what I have.
For debt, I have ~7k in credit card debt (at ~15% APR), and a disgusting amount of student loans. Roughly $40k in private loans, and remainder federal loans under an IBR program. Realistically, unless I get a huge spike in income, I'll never be able to pay off the latter. Now that I'm employed again, though, have been thinking of refinancing the CC debt at a lower rate.
Now, the soon-to-be divorce: My wife makes ~75k/year, has no debt, but does have retirement accounts (worth ~$30k). No pre-nup, at her insistence. She doesn't want to share any assets or take on any debt. Have gone back and forth on whether I should litigate with her, which I can do at a limited cost (I'm a former lawyer so can represent myself reasonably well), but don't know if I can stomach the emotional turmoil of that. My betrayed self wants to fight, but my rational self just wants it over ASAP. No hope, or desire, for reconciliation.
Moving forward, it's all up in the air. Probably staying in our current apt. for another 3 months, then on my own (which will probably require a roommate). Job I have does have room for promotion/growth, and am willing to move if the right opportunity presents. I'm also, again, a licensed lawyer and would like to use that to make side-money to build a safety net and pay down debt, but really don't know how to do that.
Any advice / insight, would love to hear it. Any more info needed, let me know and happy to provide.
Submitted September 03, 2018 at 10:51AM by TosserAccount00 https://ift.tt/2Nc7iBf
