Originally Posted by newguy888
My gut feeling is yes go for it.
66,000 pre tax, I am gonna do it on 40,000 here in North Carolina.
We sold the house, bought a great new one with a small 50K mortgage at 6% fixed.
I am going to finish my contract thru jan 07 then my pension kicks in.
I have had so many teaching offers here in NC that I will probably take a sub job in feb and decide if i would like a full time gig for the following school year.
The sub job will bring in about another 12K a year which would bring my funds up to 50+ a year.
Seems doable since my medical bennies are covered.
I figure the 5 months of work at my 80K salary will be enough to pay off a big chunk of my new mortgage.
You've got a great stable situation with, if I remember correctly, a COLA'd pension and health bennies.* Plus you relocated from an area you were getting tired of.* Pluses all around.
I think I may need to develop a bit more in a stock/bond portfolio to balance the dependency on real estate or just get to a point where I generate so much real estate cash flow I don't need to worry about its volatility. And I'm still skittish about leaving San Diego.* *Feel like I'm sorta close but not quite there.* Driving me crazy...