Do you plan to move to a lower COL area/country?
Having done the opposite (low COL country to Pacific Northwest), I can say I'm thinking about this. I want to retire some day. Can't do that without savings, and can't have savings here even with a reasonable salary.
Moving to upper Michigan next week (Marquette area). Visited on a break from SF during lockdown, just bought a house. Me before closing: "It's great, shh, don't tell anyone." Me now: "It's great! Tell everyone!!11" ;)
Not too hot, not too expensive, not too on fire, plenty of water.
My wife and I did this immediately upon retiring: Pacific Northwestern U.S. to Lisbon, Portugal. Early days yet (less than one year), but so far has been fantastic. Much lower cost of living, the culture is similar enough to be comfortable, and different enough to be fascinating and fun. Plus, meeting people from all over the world. Met a couple from Croatia today in the pet store.
I strongly recommend moving to a different country, if you can. It's a big, interesting world out there.
Thinking of doing the opposite. Moving from Madison, WI likely to PNW (Seattle is most likely). The complete lack of... much of anything around here is a huge driving factor. That and the political landscape of the area. If I was looking to raise a family (I am not), it would be much more compelling to stay.
Couple of things about retiring early: pay off your living space and car. Don’t carry debt into retirement as you income drops. Have a pile built up to cover non-medical health, travel, repairs and nether kinds of spending. Max out retirement accounts to get some tax savings,
If you’re trying to do this in the US, you need a bigger pile as you need private health insurance as well. Figure 2-5k/month for this, especially if there’s more than 1 person involved. This added expense might push retirees out of the us if there’s no family ties. Watch out for tax treaties with foreign countries and be careful re residency and citizenship to make sure you can get the govt pension you paid for for decades.
My family just moved from Austin back to Michigan where my wife and I were married. We discussed other lower-COL areas but we had been in Austin close to 10 years and so have many ties to the area. Our choices were basically 1) stay in Austin and just figure something out WRT increasingly impossible rents 2) move back to Michigan where we also have a support system or 3) move to some third place where we have no support system whatsoever.
1 and 3 both seemed depressing, though for different reasons, so we picked 2. It's also a tough move, but seemed the best option available.
Sigh Moving to a (slightly) higher COL area for family reasons as soon as we figure out the budgeting. It's likely to involve finding a new job, but this seems like a decent time to do that, at least.
My family moved from LA/OC back to Cincinnati where I grew up. It's been outstanding for us so far. We get a much nicer place to live, a support system, and a great environment for the kids.
IMHO the telework revolution just destroys the value of high cost of living cities. There used to be a cool culture factor in places like SF but I feel like a lot of that has now been priced out, so you're just paying out the nose to live in a glorified office park.
Yep, absolutely. Just biding time until I can recoup some of my savings. I splurged on a car.
I'm nearing the age where if I don't commit to owning where I live soon, I'll be renting until I can't afford it anymore.
Inflated metro pricing isn't worth it IMO. Give me quality internet and I'm set.
Yes, I did this. Moved from the big apple to a small city to raise a family and spend my weekends fishing, kayaking, and skiing. I love the outdoors so this was always the right move for me.
Yes. Colorado to Texas. And looking into Latin America next.
Moved from LA to Berlin Germany in 2013, probably the best decision I ever made. What a city, it's full of nomads and the nightlife started up Thursday and didn't finish until most Monday mornings. Everything was better/cheaper with the exception of the government bureaucracy. Would recommend it for anyone in their twenties.
No. I have three kids, one just started high school, and they are established socially. I'd save a ton of money leaving California, but I can't put a price on the impact to my kids.
I'm out of here as soon as the kids are out of the nest, though.
Yes, I'm thinking somewhere in SE Asia, but not entirely sure where. Any suggestions?
I moved from Sydney, Australia, to France. Cost of living (the way I live anyway) halved, gained access to remote jobs from around Europe and USA - would recommend!
Yes, we moved from California to Arizona. One of the best decisions we ever made.
all my friends are here, what am I gonna do after moving to another area…. at least not now I think