npskumar wrote:1. How many 457, a person can have. I hear that you can have a few but you cannot have more than 17500 for 2013.
You can have multiple 457 accounts, but the total combined contributions going into them would be limited to 17,500 per year.
I am not knowledgeable about SEP accounts.
I dont have any life insurance or disability insurance.
I suggest you check with each employer to see if they offer it. It is usually less expensive to buy it through an employer group as they will handle the paperwork and send in the premiums (withheld from your paycheck) rather than having an insurance company do it. Better yet, this is a good time to find out about all the employee benefits they offer and see if others might be suitable for you. In addition, if your (ex)wife is the beneficiary of any account, through an employer or not, you need to decide if you want your assets going to her when you die or to someone else. If you chose someone else, fill out new beneficiary forms now. (Save a copy for your records showing who and the date the change was made.)
I want to use collective wisdom of bogleheads to hammer out a financial plan. . .I need to replenish my emergency fund which would be around 8 months of expenses. What would you guys and gals do in my position.
Typically, we find it easier to provide assistance if we can see what your assets (and new contributions to them) look like post-divorce. So if you can think ahead till after the divorce is finalized, what assets will remain that we should discuss? I can't tell if your ex will be getting part of your assets or not or if the $7,000 (monthly?) for two years (?) will be the complete package she receives.
I plan to meet a financial planner after divorce is finalized.
There are boglehead threads devoted just to this topic. Many are just salesmen who sell you investments/insurance that gives them big commissions instead of adding to the value of your account.
. . .Then I plan to go to fellowship in a low stress field.
I am reading this as something you won't be doing for 2 years, which others may have understood differently. After you are done with alimony, is it possible that you could be happy working in only one of your jobs? You may be over-working yourself which may have impacted your own health and the health of the marriage--just a guess. If you don't take care of yourself and stay healthy, the rest is irrelevant.