Long time lurker on this subreddit, reaching out for some advice.
I am 34 with a 2.5 yo son that I share 50/50 custody. I am required to pay $500k as a divorce settlement and wondering the best way to do this with the assets I have available. All assets below are only mine (post-divorce).
Current assets: 725k townhouse paid off with no mortgage, 30k in cash savings account, 160k in VTSAX, 460k retirement 401k, 50k Roth IRA
Currently no car payments or other debt. Child Support payments are around $200 a month. $3k per month in living expenses (food, fun, utilities, etc)
I work in tech, make $155k annually and have around 600k of RSUs coming available in the next 1.5 years. HCOL area (Seattle).
Would like to start saving for my son's college via a 529 early, but would like to figure out the best way to pay off my ex-spouse first.
Ideally I see myself living in my current house for another few years before renting it. Pre-divorce I really hoping to be apart of the FIRE community to be more involved with my son school and sports, now, I'm not sure FIRE is a viable option.
Between a cash out refinance, HELOC, or other method, what advice would there be for someone in my position? Appreciate any guidance.
Submitted October 12, 2019 at 05:00PM by bigd1984 https://ift.tt/32bmTFx
