Greetings

[Dry Socks]

Hi Folks,

Been lurking for a few weeks. Sure beats working

My situation is... early 40s, coming off a pretty good run over the last decade but definitely slowing down income wise. We probably have enough to ER now, but, I'm hesitant. Most of our dough is in our CA McMansion. RE would mean moving somewhere cheaper and I'm not sure I can do that to my kids. They've got lots of friends and it would be pretty traumatic. Besides, I'm much happier now that I don't care about my job so much

This is a great board !

-D

 

[Brat]

Unless your kids are in the 11th & 12 grade you should start thinking about a move.  They will adjust and find friends quickly, particularly if you enroll them in a new school right after spring break.

The town I live in has a top-notch school system (academics and athletics), but for city kids it is boring.  My state has no income tax, but it does have a sales tax.  Our cost of living is less than S. CA, but far from cheap.

If they may attend a State school, consider the quality and availability of higher education.

 

[Dry Socks]

Brat, thanks for the reply.

They're both in grade school. Maybe we just need to try visiting a few towns/cities to see what looks good.

-D

 

[Nords]

My situation is... early 40s, coming off a pretty good run over the last decade but definitely slowing down income wise.  We probably have enough to ER now, but, I'm hesitant.  Most of our dough is in our CA McMansion.  RE would mean moving somewhere cheaper and I'm not sure I can do that to my kids.  They've got lots of friends and it would be pretty traumatic.  Besides, I'm much happier now that I don't care about my job so much   

Welcome to the board, Socks!

You'll know when it's time to go. If most of your portfolio is tied up in an illiquid asset subject to wild market fluctuations and stiff trading costs, then your overall portfolio is probably subject to more volatility risk than you're willing to, uh, risk.

Our kid made the transition fine in 3rd grade and has never looked back. But then we only moved from one school district to another. FWIW she keeps in touch via e-mail with friends that have moved to the Mainland or even Europe, and maybe your kids will make the same transition with ease. It gets touchy around junior prom time but before then it should work out OK. Or else you buy them a puppy!

If you no longer absolutely despise your job, it's probably better to just stay in place and save as much as you can. Maybe you can build an ER portfolio that doesn't depend on relocation or McMansion equity...

 

[Jay_Gatsby]

I echo the sentiment. Welcome to the board. Take it from someone whose family moved a few times when I was a kid. Kids adjust very quickly to new surroundings -- a great deal faster than adults do (perhaps because they don't have to figure out the best way to get to work in the morning?)

Having most of your net worth tied up in a McMansion is not a good idea, but as you pointed out, there isn't much you can do about that other than to move. Unfortunately, and beyond the kids adjusting issue, your McMansion is your home, and it's much more difficult emotionally to sell your home than a few shares of stock. Likewise, downsizing isn't probably an option (in fact, as your kids grow older, you may need even more space).

Stick around. Others may have some good ideas for diversification.

P.S. Would you mind telling me where my missing socks go? Do dryer sheets have anything to do with their disappearance? I have about 10-12 "singles" that are looking for their long lost mates.

 

[TromboneAl]

We moved from Oakland, CA when my daughter was 12. Dragged her kicking and screaming (not literally). New school had 35 students total (K-8)! She adjusted fine.

This book is good if you are thinking of moving to a smaller town.

 

[REWahoo]

Based on my experience, the younger they are when you move, the better.

Between the military and working for a mini-Megacorp, our two daughters changed schools four times. All went well until the last move when the oldest was in HS. She had a very tough time of it, but her younger sister adapted very well.

 

[laurence]

You could always take out a fat home equity line and invest in the stock market! Hmmm......

My family moved when I was in 6th grade, made Jr. High very tough at the beginning, but by 9th grade I had a nice network of friends and had my first "real" girlfriend, so I guess I recovered ok.

 

[Jay_Gatsby]

You could always take out  a fat home equity line and invest in the stock market!  Hmmm......

My family moved when I was in 6th grade, made Jr. High very tough at the beginning, but by 9th grade I had a nice network of friends and had my first "real" girlfriend, so I guess I recovered ok.

How hot were the imaginary ones?

 

[Dry Socks]

New business idea... combine all those single socks from the ER posters and make a bundle in the socks market. Well, a bundle of socks anyway

Another idea... 'refill' used dryer sheets just like those printer cartridge guys.

 

[dougdo]

Why not consider doing something really radical and living overseas for a few years? That would be a much bigger adjustment for your kids but on the other hand they could really learn some different values, a different culture, a different language.

You're not doing any long term favors to your kids by raising them in a McMansion in our consumerist society. You're thinking about ER and so no doubt have balanced values but make sure your kids have exposure to some different lifestyles too. They will thank you later!