u/think_2times

34 M . Married , No Kids.

Was just told I would be laid-off soon.

Family expenses including Rent = 20 lakhs a year
Total Corpus = 5cr(25X)
Not FIRE ready, was targeting 33X. Was hoping to stay employed for 3 more years to reach the target.

We do not own any home, was hoping to buy this year but that is not happening anytime now or in the future.

Not looking to get back to any Tech job now done with this. No motivation left or any interest too now.

Option 1
Join any relatives business for a salary and help out. Finding a job would be easier but the salary would be 20% of what I make now.
Okay with this as long as I do not have to dip into my corpus.

Option 2
Sabbatical. Take a break for 6 months. Figure out what do.
Not having a Job is scary, not knowing what to do daily is worse. Society will judge and somehow my mind is convincing me this is not right. I am still figuring out why I am not able to convince myself to take a break.

Option 3
Go back to college. At 34 do an alternate degree in healthcare MBA. Get a job after that.

Overall it’s been confusing and a scary time.
I am happy I saved aggressively last few years else I would be in a soup.

Anyone been the same boat, what did you do?
How did it work out for you in the end?

Almost in tears writing this, don’t know how to tell this to my mother and wife. It’s a confusing time.
Thank you for reading this and helping.

Hi,

Want opinions on people who were in a similar situation.
34M, married. Mother and grand parents are dependent on me.

Spouse and I take home: 4 lakhs per month combines

Family networth : 5 Cr

Family have been ion rent for all our life, wants to buy a 2BHK in mumbai suburbs for 2.5 crore.

Plan is to pay 1.5 crore from the corpus, take a loan for 1 crore.

5 Cr is 25X our yearly expenses with rent included.

Hesitation:

1. Job loss with AI, I work in SaaS terrified of the constant job loss I see. EMI's might become a burden and I might have to dip into the corpus to pay it off

2. Numbers wise makes no sense to me. Rent is 70K per month, 1.2 crore FD at 7% gives us the rent + freedom to move or upgrade.

3. Buying locks me in, I have been able to upgrade from chawl, to 2bhk and now 3bhk as we were never locked into a home.

4. Mumbai is not my final destination but it is for my spouse and mother. I want move to T2 of T3 to live a slower pace of life post 40.

5. Child - We have been trying but unsuccessful. The childs expenses + EMI + wife would have to leave work. All of these play on my mind

I am super confused as you can see, thought might ask the community of anyone was in a similar position and what did they do? How did it pan out?