1. No, I've taken pay cuts for better working conditions and it has worked out - doesn't sound like you are headed toward poverty
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1- am I being silly for considering take such a “pay cut” at this point in my life? I know these are absurd numbers to the vast majority of people…
2- has anyone moved from the Midwest to California and regretted it? I know this is a personal decision but were there things you didn’t expect to experience when you moved there that you wish you knew ahead of time?
3- housing in the area we would like to live runs about 1.5-2 million for a 3 bed 1.5 bath. I hope to rent at first, but should I consider selling some of my LTCG in the taxable while I live in the Midwest with a 5% state tax vs California which would be 11%?
4- is there anything I’m missing that I should also consider?
2. We are from the east coast and moved to SoCal about 20 years ago for a job (and a big income boost) - at the time we had elementary school age kids. We adapted. It took several years before it felt like "home". Having young kids will help - you will be able to build a social network around school/activities.
3. Housing is just way more expensive than the mid-west, and houses are crammed right next to each other on tiny lots. You will probably be taking a big step back in terms of housing. You will have to get your head around it. Property tax is about 1.4-1.6% of last sales price (so on a $2M house, that's a lot, but at least won't go up quickly due to Prop 13.)
4. One thing that really helped us adapt - we love the outdoors. CA has the ocean, mountains, forests, and deserts all within a short drive, and almost always with good weather (sometimes need snow chains in the mountains...) It really is spectacular, and this of course is one of the reasons so many people want to live here.
Statistics: Posted by cmdreset — Tue Oct 15, 2024 10:03 pm — Replies 12 — Views 730