Anonymous wrote:I am in a tough situation. I am 49, recently divorced and child support payments are crippling. I am not complaining because it's for my kids, but I am running an $800 deficit every month as a result of child support. I am using savings to cover the deficit, but in 8 months I'll start going into debt.
So I need a higher paying job. But I am 49, works for a state government with a pension. The pay is not great. It was okay when I was married. But now it's not.
What do I do? At my age I am not sure the private sector will hire me. And it means giving up a pension. It also means I'll need a job that pays significantly more so I can save for retirement.
If I leave I have 2 options. Either $200k in cash which I can transfer to an IRA or $24k/year pension at 65. I only have $20k in Roth IRA after the divorce.
I do data and statistical analysis for a state agency. I use SPSS, SAS, and excel. It's a purely data driven job back office kind of work. I don't even know if I am employable in the private sector with this skill set.
You need a side hustle. Drive Uber or become a youth sports official or something.