Fire48
Confused about dryer sheets
Hi all, been lurking around awhile enjoying all the great info and decided to get in on the fun. Been debating for the past year or so wheather the time is right to pull the trigger and FIRE. Here are our stats:
48 yrs. old wife is 47 we have 2 kids 10 and 7 and live in So. Cal.
Retirement Funds- $550,000
Taxable Accounts- $950,000
College 529 Plans- $50,000
Home Equity- $600,000
Assets are primarily in Vanguard Index Funds 60% stocks 30% bonds 10% cash.
The plan is to move out of expensive So. Cal to Oregon. We have done some research and think we could find a comprable home south of Portland in the Willimette Valley for $350- $400,000. We would pay cash for the home and be debt free. That would leave us with $1,700,000. We estimate our living expenses would be about $75,000 in Oregon.
The So. Cal. housing market is tough right now and it may take up to a year to sell. Our cost of living with the mortgage and taxes in So. Cal is $125,000. We have enough cash to cover but this would eat into our principle.
I run a branch office for a large company that I have been with for 16 years. My job pays extermely well but the stress is unbelievable and I seem to have lost my passion for the work.
Do I stick it out at work another year or so and ride out the housing slump and increase our net worth through another year of savings or do we have enough and just go for it ?
The wife will support whatever decision I make, she just wants a decision.
Thanks for everyones input !
48 yrs. old wife is 47 we have 2 kids 10 and 7 and live in So. Cal.
Retirement Funds- $550,000
Taxable Accounts- $950,000
College 529 Plans- $50,000
Home Equity- $600,000
Assets are primarily in Vanguard Index Funds 60% stocks 30% bonds 10% cash.
The plan is to move out of expensive So. Cal to Oregon. We have done some research and think we could find a comprable home south of Portland in the Willimette Valley for $350- $400,000. We would pay cash for the home and be debt free. That would leave us with $1,700,000. We estimate our living expenses would be about $75,000 in Oregon.
The So. Cal. housing market is tough right now and it may take up to a year to sell. Our cost of living with the mortgage and taxes in So. Cal is $125,000. We have enough cash to cover but this would eat into our principle.
I run a branch office for a large company that I have been with for 16 years. My job pays extermely well but the stress is unbelievable and I seem to have lost my passion for the work.
Do I stick it out at work another year or so and ride out the housing slump and increase our net worth through another year of savings or do we have enough and just go for it ?
The wife will support whatever decision I make, she just wants a decision.
Thanks for everyones input !