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Housing strategy between now and FIRE
Old 09-06-2018, 05:52 PM   #1
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Housing strategy between now and FIRE

I am going through scenarios for housing as I approach Financial Independence (FI) and maybe Retire Early (RE)

Current state: Age 52 (DW 48). FI expected @ 55 (2021). Own home: $500k value, $435k mortgage @ 3.75%.

Near future (next 3 years): I am relocating for a new job at the end of this year to the Dallas area (same company, different job). Company will sell my house and pay all closing costs on both ends, so no transaction costs. Should net ~ $65k. I plan to rent in Dallas. We will save enough into retirement accounts to be FI in Mar 2021 (age 55). In addition, I plan to save the $65k proceeds from the current home sale and add $435k for a total of $500k saved for a house by Mar 2021. These funds would be put into a MM or bond fund for capital preservation.

Future: (4 years+): This is where I am looking for advice. I am not opposed to carrying a mortgage into retirement, but want the option to not carry a mortgage into retirement. Seems like a LOT of cash to be carrying in a MM fund, but I may need it in 3 years if I decide to retire and pay cash for a house.

Are there other courses of action I should be considering? Appreciate your thoughts and feedback.

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