Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Sunny side up in LA
Old 02-13-2018, 12:22 AM   #1
Dryer sheet wannabe
 
Join Date: Feb 2018
Posts: 11
Sunny side up in LA

Hi all, new to the site, but like all the posts I've read so far. Here's my background. Grew up in the Midwest and currently all my family lives there except my sister and her family, who moved to Dallas. I traveled domestically for work when I was single, but after I got married, I settled down in the Midwest, close to family. Flash forward 10 years of being married, we now have 2 DS. 2 years ago I had the opportunity for a job transfer to LA and we took it since we didn't want to be lifers in the upper Midwest. Now my 2 year contract is up and I can 1) stay on with company, 2) work for a competitor in LA -where I have good business connections- and work in more pay with a promotion, or 3) attempt to find a job in Dallas where my sister lives, potentially traveling to LA to continue to consult my clients. We're now expecting our 3rd, and it has caused me to consider settling down (no more packing up the family and moving), and early retirement (at least where I wouldn't need to rely on a W2). I'd still probably consult on the side since I might get bored without some work.

We'd stay in LA, except the housing prices are exorbitant, and we wouldn't want to be caught at a housing peak (we already learned from our mistake in 2007). My wife isn't too close to her family, and actually feels more comfortable with my family. She gets along great with my sister and is happy to have someone nearby for emergency situations. She would like a simple house she calls her own (we can only afford to rent in LA), so Dallas has a huge draw. In addition, we sometimes feel that we don't fit in with the go-go - go and glitzy culture in LA, and long for the simple Midwest family-friendly life. We're also not looking to go back to the upper Midwest as we've grown accustomed to the nice weather and predictability of not having to bundle up.

Finances: rental in Midwest, managed by property manager with positive cash flow worth $365k, $250k mortgage. Value is back up to what we bought it at in 07. $130k cash ready for down payment, $350k in retirement, $50k in trading accounts. Hoping to get to a paid off house+$1M in assets before not needing to work. I think Dallas would get us there more quickly than buying a house in LA.

Going back to my 3 options, anyone have some advice? At a 85/15 stock/cash AA. Could I get to $1M in 10 years if I save $70k per year?

Thanks in advance,
Jay
bj345 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Hi from Herb in sunny/warm Massachusetts HerbS Hi, I am... 15 06-03-2011 03:50 AM
It's bright and sunny at 10 AM and my neighbor is having a very good day.. haha Other topics 67 08-15-2008 03:13 PM
Side by side comparison of Dem candidates' health care blueprint Olav23 Health and Early Retirement 55 02-28-2008 09:29 PM
Sunny Day on the Bourse haha Stock Picking and Market Strategy 0 01-28-2008 01:36 PM

 

 
All times are GMT -6. The time now is 06:55 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.