Howdy 53 and hate my job.

[Teacher Terry]

Getting fired is always a shock and drag on your ego but I would move forward and enjoy your life. It sounds like you are well prepared financially.

 

[Markola]

Waiting around for organizations and bosses to change and make one happy is a waste of time. Organizations are amoral and uncaring "at-will employers" while bosses rotate on their way up and are very rarely of the "coaching" type most of us would prefer. There's little happiness to count on in that direction so don't bother wishing for it. On the bright side, what I've read and verified with my experience about human happiness indicates that we recover reasonably well from most anything life throws at us, except maybe the very worst stuff, in about 18 months. So raise a glass to the past that is now behind you, focus on the future, and check your blood pressure and cholesterol in about 18 months. Congratulations!

 

[ivinsfan]

on the non-performing 300K rental has that situation changed at all? Is it a SFH, if so you could move into live in it for I think it's 3 years and walk away tax-free...consult the tax guide but it could work to your advantage.

 

[WestLake]

Thanks, everyone, for the support.

Yes the $300K rental (single family) is now worth $400K and I'm finally getting better rent - $2300 month (but could maybe get $2500 or more if the tenant moves out and I do some work). Worried about recaptured depreciation and capital gains if I sell but maybe not enough to move in it --- will have to try to figure out how much the taxes would be (paid $92K about 30 years ago).

Was about to do about $40K worth of work on my own house. Pondering that now. There is a guest house out back and I could move back there and get maybe $2500 for the main house.
That's if I fix it up - so that might be a wise investment.




Sent from my iPhone using Early Retirement Forum

 

[LitGal]

Congratulations, Westlake!

Thanks, everyone, for the support.

Yes the $300K rental (single family) is now worth $400K and I'm finally getting better rent - $2300 month (but could maybe get $2500 or more if the tenant moves out and I do some work). Worried about recaptured depreciation and capital gains if I sell but maybe not enough to move in it --- will have to try to figure out how much the taxes would be (paid $92K about 30 years ago).

Was about to do about $40K worth of work on my own house. Pondering that now. There is a guest house out back and I could move back there and get maybe $2500 for the main house.



So, fast-forwarding past five years, you have now transitioned into a new career: "real estate investor" ("full-" or" part-time," whatever you decide) and/or "semi-retired" (since you can probably live off your real estate). Because of your smart investments, LBYM, and overall frugality, you are now in a position many 50-somethings would envy.

The world is wide open, and you are now your own boss. Enjoy!

 

[Marita40]

Marcola, I'd love to hear more about the 18 month recovery theory.

 

[Markola]

Marcola, I'd love to hear more about the 18 month recovery theory.

Happiness research is an enormous field but here are a couple of overview articles that might help:

https://positivepsychologyprogram.com/hedonic-treadmill/

https://en.m.wikipedia.org/wiki/Hedonic_treadmill