Help! Just about to lose my stressdul job...can I coast? What should I change?
Hello all 44m here...married with kids. I live in a vhcol area and wife works and has a good job. I am about to lose my job because of AI and a toxic change in company culture (no severance most likely). My share of the expenses are approx $7500 per month but that will go down to about $3500 if I no longer need to pay for childcare. I have a side hustle that earns about $10k per year. My assets are:
$200k in high yield savings; $100k in possessions that can be sold easily; $75k in brokerage; $70k in IRA; $390k in 401k fully vested; $20k in treasury direct; $35k in bitcoin; and $20k in checking account (approx $910k total).
To find a job in my current field could take months and I am so stressed out and am now on heavy anti-anxiety meds. Ideally I would like to chill for a few months, lower the stress levels, then look for something low-key that earns me approx $60k - $100k per year which would also not require me to pay for childcare.
Is the plan feasible? What should I do with the above assets while I am not working? Dividend stocks? One caveat: I expect the stock market to crash about 20-30% within the next year or so (due to AI hype and over-investment) and would like to avoid the risky stuff.
I greatly appreciate your time.