Need financial advice (Going through unexpected divorce)

[Anonymous No.53820076]

My divorce will soon be finalized. My wife made about 2x as much as I did, and I was on her health insurance. Divorce is occurring in Illinois. I likely am entitled to maintenance as well as 50% of the marital assets. My wife seems to have tried to buy happiness following her cheating, and has spent approximately $127,000 since we separated (5 months), in that same amount of time I have spent $21,000.

I expect to receive around $70,000 from the settlement. The majority of this if not all of it will be in the form of a Roth 401k.

Current job prospect in next month has a salary of $140,000. Job will include healthcare and 401k Match of 4%.

Current rent is $300 a month (living in a trailer with two roommates).

Just purchased a 2012 Toyota Highlander in great condition with 130,000 miles for 9k (paid this in full).

Currently have $19,000 to my name which is sitting in a high yield savings account. (Expect to keep this plus the 70k from the settlement)

No credit card debt.

[Anonymous No.53820080]

>>53820076
Student loan debt of $273,000, but payments are paused and I will be working at a non-profit which gives loan forgiveness in ten years. Plan is to go on income-based repayment plan and pay the bare minimum each month and wait for the forgiveness in 10 years.

I am 31 years old. Being I have no retirement at this point, my plan is to touch as little of the settlement money as possible and leave it as is in my own 401k account.

From my new job I will max out the 401k match, and then may try to reach the 19,000.

Purchasing a home is certainly something I want and I live in an area where air bnbing an on-suite to your home can easily cover your mortgage. This area is big on that, and you typically get guests 300 days a year at least.

Not sure when is the smart time to buy a house, or if I should consider using some of the settlement money as a down payment. As for everything else I’d appreciate any guidance on how to move forward.

Living situation isn’t ideal, but it’s hard to beat $300 a month. It also could be temporary depends on the roommates, if they like me, and my dog.

I’m a pretty big outdoorsy type so hobbies don’t cost much (mostly hiking and I own all my gear already).

Thanks in advance!

[Anonymous No.53820092]

>>53820076
You’re in pretty good shape brother. Cheers. Enjoy the next chapter

[Anonymous No.53820108]

>>53820076
Please, God, tell me you didn’t have children. If so, you don’t need my advice. You’re fucking killing it bro. You reverse divorce-raped your faithless whore wife. Good for you, dude. Go on vacation and get some pussy. Go trip mushrooms and wander around the desert/forest. Learn ballroom dancing in a class. Do something you want to do.

You’re based, bro. I’m glad to hear someone isn’t a complete retard on /biz/.

[Anonymous No.53820131]

>>53820080
okay for real how did you get $273k in student debt?
is this bait?

[Anonymous No.53820149]

>>53820108
No kids.

[Anonymous No.53820151]

>>53820080
Seems like u already have it figured out. Id say running an Air bnb is a job you have to deal with people. 300 days a year divided by 3? Thats 100 different possible assholes and complaints. I worked at a nonprofit they only paid 50k and was 90% women , no thx. But sounds like you found a decent paying job. I would never tie myself down for 10 yrs , only way I get raises is changing jobs. But u owe a quarter mil in loans holy fuck. What are you a doctor? My wife is lawyer and didnt owe any where near that much. Shes 2 yrs older than you.

[Anonymous No.53820156]

>>53820076
I got divorced in August. Moved back in with my parents. No divorce rape, we split amicably. Sounds like you’re doing a hell of a lot better than me. Keep doing you.

[Anonymous No.53820160]

Will the IRS come after me if I owe them $2.47?

[Anonymous No.53820203]

>>53820080
>Not sure when is the smart time to buy a house, or if I should consider using some of the settlement money as a down payment


House is for having a family and raising kids buying into neighborhood. Its not an investment. Why buy a house at all? You have been married once will probably a again and probably have kids. Regardless your housing situation could demand change in 5-7 yrs

[Anonymous No.53820253]

>>53820076
>Unexpected
>My wife made 2x more than me
>I was on her health insurance
>Unexpected
Kek

[Anonymous No.53820273]

OP should start living life and not stress so much about the little things. Sounds like you got a good job lined up- just stay away from women they're trouble! There's a lot of fools out there in worse shape, like owing the IRS $2.47. Those poor bastards can't even use the free version of TurboTax anymore :/

[Anonymous No.53820280]

>>53820076
What's the question faggot?
And you paid $9k for a car with 130k miles???

[Anonymous No.53820352]

OP I don't understand why'd you want to buy a house right now, on your own, with rates at 7%. This is why they need to teach financial literacy to school kids, not gender studies. What's a fool supposed to do when he owes the IRS $2.47 in capital gains tax and can't use the free version of TurboTax anymore? Who TF wants to pay for TurboTax not me! Fuck it I'm not gonna report it, they can come arrest me if they want