Quote:
Originally Posted by GenXer
Unfortunately many people here don't even make median income. I'm fortunate enough to make above that. Things are cheaper here but we also make a heck of a lot less money. If I vacation within my state, I'm golden but I realize my dollar doesn't stretch very far when I travel.
I went to Cape Cod last spring and realized how poor I was compared to the people there. Multi-million dollars sea side chanties abound.
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That's pretty much why I moved back to CA after living in Arizona and Texas though. Cost of living might be higher, but so is the pay, so while my net margin / % of income might be shittier, my raw savings amount / income is more, which allows me to grow my accounts faster.
Aside from family being here, the way I see it is if I can snag a townhouse / home here now, then use it as a long term rental, it'll more than cover a nice mortgage anywhere I decide to retire to along with some nice toys to go along with it.
I mean think about it - if you have a townhouse that's bringing in $4k / month in rental income and your mortgage is paid off, that's a nice chunk of retirement change to supplement investments / dividends.