A post by Dr.D in LO's resurgence thread hit home (or affirmed some of my thinking) this very morning.
With my (voluntary) child support, two sets of braces and health care expenses I see about 3 of 4 of my paychecks a months. Basically ~65% of my net is take home. I balance my life from week to week just getting by week to week. In the 7.5 years that the cost of living has risen here I have seen no rise of the glass ceiling that my career has hit. In the last 7 years my anual gross has been just about the same (include lay-offs, seperations ets.)
So, I sell my 2000sqft house for 329k. Gross 170k and net about 150k after realtor fee's etc. Now guess what. The same 2000sqft is gonna cost me 330-400k. Lets just say I find something for 350k. I need to put down all of my equity to bring my mortgage amount to 200k. That will be 40k more than the mortgage I am busting my ass to just bearly support (less my dependent expensess). The same amount of house with more mortgage and likely more miles to and from work. And keep in mind that is assuming I can find 2000sqft for 350k.
Now in a job/career that has little to no fulfillment at best, and makes me completely miserable otherwise. Not to mention that at the current rate of living expenses I put in a minimum of 50-55 hrs a week to just get by. I am always disgruntled with my work conditions and environment. To add to this, I do all of this struggeling to living in a city where only my immediate family still resides. My kids live in NC and I see them for 8 weeks of summer (working 50-55 hrs a week) and Christmas (two weeks). The family I have here I see once every couple few months (everyone has their own lives).
But...that 150k will buy several to many houses in NC within 20 miles of my kids....cash. I have researched the area and a modest house in the area of the school district of my kids can range from 100-125k, depending of size and year built. This means if I wanted to I could pay cash for my home and still have between 25-50k in the bank. Be able to see my daughter finish her senior year of HS. See and be with my son for his Jr and Sr years of HS. Have an at home wife/mom who has no need to work. No longer be bound to a life of the never ending cycle working for nothing more tham paying bills in the end.
You see I have looked at this very closely. I am busting my ass to just get by. Will likely have very little, to nothing more than SS when I retire, not seeing much of my kids and being miserable all the while. In the end I will have just been a sad use of the 'LIFE' in the life I have been given.
Or I can change what I am doing...TODAY!. I can move to NC, pay cash for that home, spend time with those blessings of children that I have been given, be free of the constant rate race that I will never even place in. I may or may not have much of anything when retirement time comes, but along the way the taxation on my life to just get by will be reduced significantly. I will be able to have LIFE and share more of my life with the ones I love. I will be able to provide more of me to my family TODAY because today the only real asset all I have today is me. When it is all said and done my little girl cares not about the upwardly mobile life but rather the upwardly loving and sharing dad she has. My son will not care about the mediocre life insurance policy that is left behind for him but will consider those fishing trips that were missed and thos eball game that were never attended. My oldest daughet will have know a dad who SPENT all of his life rather than lived it.
People, I post this in this forum for a reason. Most of you and I are in the same place in life. Dr.D, thanks for saying outloud what I have had on my heart for many years. Lean One, follow that direction that your heart leads you.
Thanks for letting me share my rambles
Here is my scenario. I live in one of the fastest growing cities in the country. I believe Phoenix (and subs) is rated around the 10 largest city in the country. Here is a sample of the huge rise of the cost of living. In May of 1998 I bought my 2000sqft house for 129k. Today my house in on the market for 329k. In 7.5 years my house has appreciated about 200k. Now if and when it sells the scenario is as follows. Because of the past struggle (other topics cover this) I have had a home equity, I re-fy'd, and now, I have a home equity and that previous re-fy (btw, it has a car payoff in it this time) for mortgage payments. I have a total of ~160k in total mortgage payment.I always say that only a fool doesn't plan for his future, but only a bigger fool assumes he even has a future. Look ahead, but live for the day my friend! Be happy with the work of your hands, it's one of the few satisfactions a man gets in his limited number of days he calls a life.
With my (voluntary) child support, two sets of braces and health care expenses I see about 3 of 4 of my paychecks a months. Basically ~65% of my net is take home. I balance my life from week to week just getting by week to week. In the 7.5 years that the cost of living has risen here I have seen no rise of the glass ceiling that my career has hit. In the last 7 years my anual gross has been just about the same (include lay-offs, seperations ets.)
So, I sell my 2000sqft house for 329k. Gross 170k and net about 150k after realtor fee's etc. Now guess what. The same 2000sqft is gonna cost me 330-400k. Lets just say I find something for 350k. I need to put down all of my equity to bring my mortgage amount to 200k. That will be 40k more than the mortgage I am busting my ass to just bearly support (less my dependent expensess). The same amount of house with more mortgage and likely more miles to and from work. And keep in mind that is assuming I can find 2000sqft for 350k.
Now in a job/career that has little to no fulfillment at best, and makes me completely miserable otherwise. Not to mention that at the current rate of living expenses I put in a minimum of 50-55 hrs a week to just get by. I am always disgruntled with my work conditions and environment. To add to this, I do all of this struggeling to living in a city where only my immediate family still resides. My kids live in NC and I see them for 8 weeks of summer (working 50-55 hrs a week) and Christmas (two weeks). The family I have here I see once every couple few months (everyone has their own lives).
But...that 150k will buy several to many houses in NC within 20 miles of my kids....cash. I have researched the area and a modest house in the area of the school district of my kids can range from 100-125k, depending of size and year built. This means if I wanted to I could pay cash for my home and still have between 25-50k in the bank. Be able to see my daughter finish her senior year of HS. See and be with my son for his Jr and Sr years of HS. Have an at home wife/mom who has no need to work. No longer be bound to a life of the never ending cycle working for nothing more tham paying bills in the end.
You see I have looked at this very closely. I am busting my ass to just get by. Will likely have very little, to nothing more than SS when I retire, not seeing much of my kids and being miserable all the while. In the end I will have just been a sad use of the 'LIFE' in the life I have been given.
Or I can change what I am doing...TODAY!. I can move to NC, pay cash for that home, spend time with those blessings of children that I have been given, be free of the constant rate race that I will never even place in. I may or may not have much of anything when retirement time comes, but along the way the taxation on my life to just get by will be reduced significantly. I will be able to have LIFE and share more of my life with the ones I love. I will be able to provide more of me to my family TODAY because today the only real asset all I have today is me. When it is all said and done my little girl cares not about the upwardly mobile life but rather the upwardly loving and sharing dad she has. My son will not care about the mediocre life insurance policy that is left behind for him but will consider those fishing trips that were missed and thos eball game that were never attended. My oldest daughet will have know a dad who SPENT all of his life rather than lived it.
People, I post this in this forum for a reason. Most of you and I are in the same place in life. Dr.D, thanks for saying outloud what I have had on my heart for many years. Lean One, follow that direction that your heart leads you.
Thanks for letting me share my rambles
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