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Old 06-28-2010, 10:58 AM   #41
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Originally Posted by NanoSour View Post
The statement that I don't consider it my obligation is not entirely correct. We certainly will help our children with college and I believe on 72K a year we ought to be able to provide considerable help. Maybe not at an Ivy League school, but certainly most good state universities. Also, I agree with your thoughts of getting a job back east when/if the need arises. It won't be a high paying, high stress job, but just something to help with their college expenses.

Got it. I must have misread the original post. I thought you required the 72k/year for living expenses and so wouldn't have much/any left to help your children. Best of luck either way, but I'd be leary of giving up a high paying job you love with a potential 40+ year retirement in the future. The 4% rule is based on a 30 year retirement in general. Seems like moving East and getting a decent job that'd cover your living expenses and allow your portfolio to grow might be a good middle ground.

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Old 06-29-2010, 09:54 AM   #42
Recycles dryer sheets
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Join Date: May 2010
Posts: 229
Just my 2 cents worth (and that may be overcharging)......
We were in the same situation - wanting to retire back east. After years of planning we had sufficient assets to retire (belt-4%SWR, and almost suspenders-3.5%) from a high stress but highly compensated j*b. Even bought the place we (were) going to retire to. We decided to keep w*orking for a year, live on our assets as if we were retired, bank the salary to acheive the "belt and suspenders"(3%) level. Assumed that if we could live on the current assest while commuting 350miles each way to work and supporting an apartment in another city, we'd have NO problem living on our assets without the added expenses.
We got comfortable that our assets could sustain the hit of a downturn, which was a major hurdle. Then life threw us a curve - the realization dawned on us that we had unexpectedly put down some roots where we are, and that the property back east, while beautiful and unique, required us to start fresh with new friends, doctors, mechanics, deal with snow and cold weather, etc... and eliminated any fail-safe option of re-entering the workforce in my profession if both the belt and suspenders failed. And that we didn't want to re-locate yet again.

We found a wonderful place 20 miles up the road. It's similar in many respects to what we have back east (and in most respects, even nicer) and just closed on it last Friday. We are beyond thrilled.
Point is... the year gave us a last chance before diving int te deep-end to take off the rose-colored glasses, re-evaluate and test-run the economic and psychological/emotional aspects. The extra savings has hurt, either.

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Old 06-29-2010, 01:49 PM   #43
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It might be worth reading (or re-reading) Stumbling on Happiness, by Daniel Gilbert.

Whatever decision you make, your psychological immune system will allow your subconscious to rationalize it as being for the best. Given the undeniable advantages of staying put, you might as well do so.

"If at any times we must deal in extremes, then we prefer the quiet, good-natured hypocrite to the implacable, turbulent zealot of any kind. In plain terms, we are not so fond of any set of notions, as to think them more important than the peace of society". John Toland, The Description of Epsom (1711)
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