Should I move to London? Please help me decide :)

[pb4uski]

At the time I spent a lot of time in London, it seemed to me that broadly speaking, prices were similar to US NE metro areas - but in GBP rather than USD so in effect at the current exchange rate everything is 50-65% more.

The only notable exception to that general rule seemed to be beer , which was relatively inexpensive considering the quality of the beer. You just needed to get past the fact that it wasn't ice cold.

 

[chris2008]

Are you sure that you would enjoy L. as much as it costs if you have to work there?

My alternative would probably be to achieve FI asap from my home base.
2015 is not too far away. In the meantime I would make plans to stay for some months in London / GB / Europe once you have left employment.
You are much more flexible how and where to live if you do not have to commute. Think of housesharing, airb&b, sabbaticalhomes and other affordable housing options. I am sure some of the forum members here (incl. myself) would love to do some housesitting at your home base.

I liked to travel while working. However, I really had to push myself hard to become a tourist after work and on weekends instead of an exhausted vegetable.

 

[inky]

If you are in a university or college town, graduate students/post-docs/visiting faculty/newly arrived tenure track professors can all be great tenants to target.

I live pretty far from the university, but agree that they would make great tenants. Maybe I can put the word out and advertise to that market.

I would do it in a heartbeat, but then I'm not so picky about my stuff.

I was never picky about my stuff until I built my first house six years ago and painstakingly filled it with unique furniture, art, and objects from my travels.

At the time I spent a lot of time in London, it seemed to me that broadly speaking, prices were similar to US NE metro areas - but in GBP rather than USD so in effect at the current exchange rate everything is 50-65% more.

Sounds like I might need to stop converting prices in my head to stay sane if I lived there.

My alternative would probably be to achieve FI asap from my home base.
2015 is not too far away. In the meantime I would make plans to stay for some months in London / GB / Europe once you have left employment.
You are much more flexible how and where to live if you do not have to commute. Think of housesharing, airb&b, sabbaticalhomes and other affordable housing options. I am sure some of the forum members here (incl. myself) would love to do some housesitting at your home base.

Thanks, appreciate the perspective from someone who's been there. This is the solution I'm leaning towards. And good to know my ER peeps would be interested in housesitting! I'll put the word out once I'm ready.

 

[LastOfTheBoomers]

OP (inky) I joined just to reply to your note - I plan on a proper introduction later.

Living and working overseas was the last item on my work bucket list - I FIREd 3 months ago - I was approached by a recruiter recently and am 2 interviews into the process the job is in north Central Europe

Financially - I look at this as a way to put off taking money out as well as a way to sell everything and bank the cash so that when we return - our options will be wide open.

The goal would be to just break even while living abroad

It seems you are still saving - so your situation is different - but if it is on your career bucket list - go for it.

 

[inky]

OP (inky) I joined just to reply to your note - I plan on a proper introduction later.

Financially - I look at this as a way to put off taking money out as well as a way to sell everything and bank the cash so that when we return - our options will be wide open.

The goal would be to just break even while living abroad

It seems you are still saving - so your situation is different - but if it is on your career bucket list - go for it.

LastOfTheBoomers, thank you so much for joining just to reply to my post! I think you have an excellent point that once you are FI it would free you up a lot. Maybe this is something I can revisit once I'm at that point.

I hope you have a wonderful time in Europe! Please post and let us know how you are doing!

 

[tryan]

Since you're teetering on a decision and could retire next year .... It's up to the London folks to entice you to move. Put a PRICE on it. A simple "back of the envelope" which includes your US housing loss/cost and "incentive" pay-off for the headaches you'll endure getting out there. Drop this number on them ... let them decide if it's worth it.

Then it becomes a no-brainer. Personally, I would not take a financial hit to do this move ... you can visit London as a retiree for a LOT less.

 

[inky]

Thanks again to everyone who provided their input. It really helped me make this difficult, potentially life-altering decision.

A quick update: After much contemplation I realized my intuition was telling me strongly not to take the job and I declined it. They sweetened the financial deal but since it was a local hire and not an expat assignment it was just not going to be enough. It would've set me back several years in my FIRE goals.

What I was unprepared for was the powerful feelings of sadness I had after turning it down, even though I think it was the right decision. Has anyone else experienced this after making a major life decision, even when you were convinced you were doing the right thing?

I comforted myself with reminders of how great my life here in Albuquerque really is, even with a mostly unfulfilling job, and that soon I'll be completely free and can then do whatever I want.

 

[Meadbh]

What I was unprepared for was the powerful feelings of sadness I had after turning it down, even though I think it was the right decision. Has anyone else experienced this after making a major life decision, even when you were convinced you were doing the right thing?

It's normal to have regret after making a difficult decision, especially when it is a one time opportunity. Life is a series of choices. Not every opportunity needs to be chosen. In this case, you had a choice between two good opportunities. You have made a good choice based on which one will help you to better achieve your goals.

I have made a lot of choices over the years and I am fortunate to be able to evaluate the results on a fairly dispassionate basis and move on. This is probably due to the fact that I am an INTJ and generally analyze the pros and cons in detail before I decide. If things don't work out, I think, "Yes, I did envisage that possibility, and I knew the risks. What's the best thing to do now?"

 

[daylatedollarshort]

London is a great city but I would have made the same choice. I'd rather have FIRE several years sooner, too.

Maybe you are sad because you went with the long term approach, while a London move may have provided an exciting change of pace in the short term.

 

[inky]

It's normal to have regret after making a difficult decision, especially when it is a one time opportunity. Life is a series of choices. Not every opportunity needs to be chosen. In this case, you had a choice between two good opportunities. You have made a good choice based on which one will help you to better achieve your goals.

Thanks, that helps.

Maybe you are sad because you went with the long term approach, while a London move may have provided an exciting change of pace in the short term.

I think you are exactly right. I've been feeling so bored and stuck that the thought of having to stay put for another 18 months or so was depressing, even if it was the right decision in the long term.

I'm actually feeling better now and putting my energies into planning my transition to ER. I'm also trying to make my present life more rewarding by taking little adventures like weekend trips or trying new restaurants.

 

[Midpack]

I'd jump at the opportunity but I've traveled/relocated almost all my life, wouldn't even have to learn a new language, just some new terms/slang. I lived in Germany for 4 years and loved it, though London was my favorite major city in Europe, and I've been to most of them. Sometime foreign assignments are period certain (ie, 3-4 years), but I didn't catch that in the OP. If the offer was period certain, and the money was reasonable, I'd be all over it - though that doesn't make it right for anyone else. Best of luck whatever you decide.

20 years from now, do you think you might regret passing on the chance to return to London for a few years?

 

[sanfanciscotreat]

I did not think London was all that great.
The food SUCKS!!!

 

[heeyy_joe]

Never fall in love with real estate.

 

[Accidental Retiree]

I loved London the times I visited. I felt at home, which surprised this native Texan. I would live there part of the year, and hope someday I will. I guess there's a seat for every a&&, and London's one of my favorite seats.

 

[chris2008]

I know the feeling of regret after a decision is taken.
What helps: to realize that the same (or even more) feeling of regret would be there if I had taken a different decision.
Proposal: focus on making the most of the 18 month till FI and on planning a great time in UK without work thereafter.

 

[tulak]

What I was unprepared for was the powerful feelings of sadness I had after turning it down, even though I think it was the right decision. Has anyone else experienced this after making a major life decision, even when you were convinced you were doing the right thing?

Yes, I've felt the same way. I'm actually going through that right now to a certain degree. A couple of weeks ago I declined an offer for another position that would have meant more money, probably a good chunk. I decided to pass on the offer because I am happy in my current position and I'm unsure I want the extra work that could potentially disrupt work/life balance. But it is hard. That opportunity might still be available and even though I declined it, I still debate if I should step up and take it. It would mean more money and I think it would be manageable. Plus, change is always fun, at least for a little while. Can you tell that I'm still conflicted?

I also see opportunities to work/live abroad, which would be really tempting. Fortunately for us right now, we wouldn't make the move because of our children. The honest truth though, is even if it was just my wife and me, we wouldn't take the opportunity just because the financial incentive here is greater. If it was a financial wash and we weren't tied down to our current location by our kids, then maybe we would consider it, but there's no way I would delay FIRE (or FI) at this point in order for a change. I'd rather wait and visit as a tourist.

 

[inky]

I know the feeling of regret after a decision is taken.
What helps: to realize that the same (or even more) feeling of regret would be there if I had taken a different decision.
Proposal: focus on making the most of the 18 month till FI and on planning a great time in UK without work thereafter.

Thanks, Chris, I think this is good advice. I'm sure if I had accepted the job I'd be feeling panic over the financial losses I'd be taking along with regret for losing my home and the chance to FIRE next year.

Even before this opportunity came up I had been trying to make my present life more satisfying and more like the life I envision in retirement. When I first moved to New Mexico, I was in awe of its natural beauty and fascinated by the local culture and spent a lot of time hiking and exploring. Eight years later I think I had come to take it for granted and was spending my weekends watching Netflix instead of exploring the area I live in. I've started consciously seeking out stimulation like weekend trips and visiting museums in Santa Fe that help satisfy my travel bug and desire for adventure until FIRE.

I can also use the next 18 months to build up a cash buffer that will enable a nice long-term visit to Europe free of any work obligations.

Yes, I've felt the same way. I'm actually going through that right now to a certain degree. A couple of weeks ago I declined an offer for another position that would have meant more money, probably a good chunk. I decided to pass on the offer because I am happy in my current position and I'm unsure I want the extra work that could potentially disrupt work/life balance. But it is hard. That opportunity might still be available and even though I declined it, I still debate if I should step up and take it. It would mean more money and I think it would be manageable. Plus, change is always fun, at least for a little while. Can you tell that I'm still conflicted?

I also see opportunities to work/live abroad, which would be really tempting. Fortunately for us right now, we wouldn't make the move because of our children. The honest truth though, is even if it was just my wife and me, we wouldn't take the opportunity just because the financial incentive here is greater. If it was a financial wash and we weren't tied down to our current location by our kids, then maybe we would consider it, but there's no way I would delay FIRE (or FI) at this point in order for a change. I'd rather wait and visit as a tourist.

Thanks, good to know others are in the same boat. I read one blog post on decision-making that helped me. The suggestion was to formulate a concrete vision for your life and to make all major decisions in reference to that vision. The vision I have for my life is to be a creative writer and artist who is engaged in lifelong learning and traveling the world. What made my decision so difficult was that the London job fulfilled part of that vision, the part that wants to travel the world and experience other cultures deeply. However, it conflicted with the FIRE portion of my vision, which ultimately was much more important and won out.

 

[daylatedollarshort]

The vision I have for my life is to be a creative writer and artist who is engaged in lifelong learning and traveling the world.

That sounds exciting. Our vision is along the same lines. The planning is half the fun. Even if we don't end up leading that kind of life knowing we can if we choose to is very liberating.

 

[inky]

That sounds exciting. Our vision is along the same lines. The planning is half the fun. Even if we don't end up leading that kind of life knowing we can if we choose to is very liberating.

Very cool; I look forward to following your adventures. It's so great to meet kindred spirits on this site who support each other, particularly when you have unconventional goals that most of mainstream society has trouble relating to.

 

[M Paquette]

I did not think London was all that great.
The food SUCKS!!!

What? They couldn't boil a steak to your liking? At least try a good curried vindaloo and a warm lager! London tradition, that!