First, a disclaimer: I'm in a kind of complicated situation, I will try to sumarize it as best as I can.
So, the company I work for just got sold. It was unexpected to happen that soon, but they received a very good offer and acted on it. This has multiple consequences for me:
- I got a large sum of money due to shares I acquired a long time ago. Not sure exactly yet about how much it will be after taxes, but around 2M€ (I live in Europe)
- I will lose my job. Not right now, as I can keep it for now to ensure transition, but that will happen soon for sure
- I'm kinda old (45 yo), but not old enough to stop working. I've been working here for the last ~15 years ("C-level", in charge of IT), and I have no idea how difficult it will be to find a new job
- I currently have a very good salary (200k a year, which is very high in Europe), and obviously my expenses are aligned to it. My wife makes 45k a year, we have 2 kids under 15. I don't really have any financial assets except for ~30k on a low-risk account and half my house paid for, and I know nothing about assets management. I contribute yearly to a retirement plan.
I'm torn between panic (no job, old enough to make it hard to find a new one, haven't job hunt since forever) and enthousiasm (large unexpected amount of money). Is there some general guidelines to follow in such a situation? Perhaps I should let the money sleep on my account and use it to live while I look for a job? I guess I will need to hire someone to help invest the money somewhere, but in the meantime any tips are welcome.
Note: for obvious reasons, I post this through a throwaway and I won't answer to any PM.
Just lost my job, but with money to invest, unsure how to proceed
byu/Nervous_Mud_5715 inpersonalfinance
Posted by Nervous_Mud_5715
2 Comments
Look up the windfall section of the prime directive.
>I guess I will need to hire someone to help invest the money somewhere
No, you really don’t.
Your location makes all the difference. 2m eur in Spain, Portugal and Greece will go a lot further than in Scandinavia.