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Laid off at 55, This Is How I Plan to Manage $400,000 in Cash Without a Tech Job
['David Beren', 'John Seetoo', 'Sep', 'Rich Duprey', 'David Moadel', 'Omor Ibne Ehsan', 'Chris Lange']
24/7 Wall St.
There are a lot of fears that come with job loss, including how to find another job as well as how to live.
(Sponsor)This is exactly the case with one Redditor posting in r/personalfinance, who was unexpectedly laid off from a tech role at 55.
How to Handle the $400,000 in CashWhen you start to consider how the Redditor needs to handle the $400,000 in cash, the answer isn’t all that challenging.
This leaves around $200,000 left, so there is every reason not to just let this money sit around in cash.
Instead, the Redditor should look to invest this money in a low-cost index fund that can deliver strong returns while the money isn’t needed.
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