redundancy, what to do now

alanqaz

Hi All,
I am 40, will be made redundant at christmas, I should get about 40K, this will be all the money I have to my name, I have nothing else of value, what do I do next, the chances are I will be unemployed for the fore seeable future maybe for the rest of my life, well I mean I dont think I will get a good job in my field of engineering, I need to buy property with this money straight away otherwise I will never own my own place.
In the west of ireland you can buy a one / two bed apartment or basic house for 40K.
People say just keep renting, renting is not good, I live with strangers all the time and some nasty landlords.
So what do I do now.
I can buy an apartment in donegal and then live there on the dole.
I can continue to rent and hope I get a good job then save to get a mortgage, this is risky because if I dont get a good job and spend my 40k redundancy I will never buy my own place.
I could go traveling for a few years on the 40K but what do I do when the money is gone.
I could buy a house in the Philippines or somewhere in asia, live there and work in a bar and probably still have some money left over to enjoy life.
Any suggestions !!

jor el

Don't post the same thing in multiple forums. Since the thread in PI is currently the most active, this should be closed.