I'm 48, worth $3.5 million, and I'm fed up with NYC. Where should I go? (interest, cost)
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I suppose "temperate" does have a commonly accepted technical meaning, but not a trivial amount of people consider around 90 degrees and humidity a few months of the year not only normal but desirable.
Personally for me the ten degrees difference in "winter" between Orlando and Miami is a deal-breaker against Orlando.
Global warming? I would sign up to live in the clouds of Venus if humans establish a colony there (not impossible, Mars my arse).
Assuming this 48 year-old is single with these $3.5M in assets, a nice condo - with amenities like a pool on or near the beach, for the most part sheltered from intense heat by ocean winds - is quite affordable with enough left over to live on passive income, maybe some active wealth management required depending on desired level of spending, no state income taxes, etc.
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Originally Posted by redguard57
He wants essentially California, but doesn't want to pay for it. He can choose several of those thing for cheap but not all of them put together. That's what world class cities offer and is why they're expensive. LOL! This reminds me of a couple posters here who wanted it all without paying for it, and cried about the unfairness of the world as a result.
Indeed. Stories like this smack of the umpteenth example of humans whining and complaining, whining and complaining, whining and complaining, whining and complaining, whining and complaining, no matter the external circumstances because that's simply what humans do.
Anyway, outside the US, I have lived in Mediterranean countries, including Italy, Portugal and Greece. But I am more or less fluent in all those languages. Moreover, to experience "temperate" winters, one has to live in a dwelling in the deep south, near the coast, whose main windows have southern exposure. Details like that make a huge difference.
Of those three, I suppose Portugal has the least hideous bureaucracy and money goes a bit further than in Spain, so maybe worth a try. But fluency or not in the local language will also make a huge difference in terms of experiencing culture, art, music, etc. I enjoyed them immensely for a time, but eventually bureaucracy and taxes were deal-breakers for me.
As some have mentioned, an individual in that situation could also buy a very nice mobile home or two relatively modest dwellings ($3.5M really doesn't go that far) and move around or switch depending on season.
I like how this guy wants to stretch his money, which could be done practically anywhere in the country besides southern California, Bay Area, or NYC itself, but then he wants "year-round temperate weather with easy access to culture, food, art, music, and health care."
There are a good 30-50 cities that can offer him the culture, food, art, music, and health care pieces. But the "year round temperate weather" will be a harder find. I'm assuming that means he neither wants snowy or cold wet winters nor hot and/or humid summers. That eliminates a huge swath of the world. I mean, San Diego or Orange County come to mind for me, but he wants somewhere he can retire nicely on 3.5M. He can retire cheap, or he can move to a cheaper area where access to culture, art, and music is more occasional.
He wants essentially California, but doesn't want to pay for it. He can choose several of those thing for cheap but not all of them put together. That's what world class cities offer and is why they're expensive. LOL! This reminds me of a couple posters here who wanted it all without paying for it, and cried about the unfairness of the world as a result.
I read the question of the man and it didn't come off as whiny at all. His wants regarding weather and activities seem reasonable. With 3.5 million plus a wiliness to continue working at something he rather enjoys seems like it should be rather doable. Since he is merely in the wishing stage, by the time he implements his plan he may be up to near 4 million. I'd say living abroad (Depending on where) is easily doable, and his assets might even grow while he is living it up.
Even in the Bay Area you can find condos in the $900k range if you look hard enough. That still leaves $2.6 million, which gives an income of $78k at 3%. Not the high life but doable with no rent/mortgage.
Or you could make a small concession on the climate and go to Portland. Even there it really is not so bad with the average low in January being 37 F and the average high in July being 80F. Which is still very temperate compared to the Midwest or even East Coast cities.
Even in the Bay Area you can find condos in the $900k range if you look hard enough. That still leaves $2.6 million, which gives an income of $78k at 3%. Not the high life but doable with no rent/mortgage.
Or you could make a small concession on the climate and go to Portland. Even there it really is not so bad with the average low in January being 37 F and the average high in July being 80F. Which is still very temperate compared to the Midwest or even East Coast cities.
Portland winters are miserable. Long, cold and wet with no sun. Ugh. I'd rather have 25* nights with sun during the day. And I hate the cold.
I would say he should give the Florida Gulf Coast a try, maybe Tampa if he likes city life. I'm headed there myself in another 12 years. Ocala area, about an hour and a half north of Tampa. Horse country, fairly rural, warm and a low cost of living. That's the place for me!!
I like how this guy wants to stretch his money, which could be done practically anywhere in the country besides southern California, Bay Area, or NYC itself, but then he wants "year-round temperate weather with easy access to culture, food, art, music, and health care."
Scottsdale AZ. So long as he votes correctly, of course...
Scottsdale AZ. So long as he votes correctly, of course...
From what I've seen, when folks move into a new area escaping from one reason or another, after they get settled, their new goal becomes making their new area just like the area they escaped from.
I suppose "temperate" does have a commonly accepted technical meaning, but not a trivial amount of people consider around 90 degrees and humidity a few months of the year not only normal but desirable.
For a person with such tastes, most of the American South would be palatable. Just move to Atlanta and be done with it. Decently low housing prices, big-city amenities, tolerable taxes, outstanding transportation-connections.
For me, "temperate" would be London (England, not Ohio). Yes, there is occasional snow; but only occasional. Much of the year, temperatures are ideal for wearing a business-suit, without either shivering or sweating. This is the sort of climate that's very hard to reproduce in North America, or really anywhere outside of Western Europe.
There are a good 30-50 cities that can offer him the culture, food, art, music, and health care pieces. But the "year round temperate weather" will be a harder find. I'm assuming that means he neither wants snowy or cold wet winters nor hot and/or humid summers. [/quote]
Culture? WTF is culture exactly? Do you mean access to Broadway shows? High priced restaurants where you can have an itty bitty portion of whatever along with a $500 bottle of wine? What do you define as art? A beautiful sunrise/sunset God provides for free? Or going to some snooty museum to see a painting of a sunset by some long dead artist? A constant temperature could be a small apartment with central heat/air and the thermostat set at 70 year around. Health care for a 48 YO? Don't smoke, drink to excess or do drugs and unless you step out in front of a bus/car/horse/tractor/train you should have at least another 30 years anywhere in the USA.
With $3.5 million you can live like a king almost anywhere except for ten or so cities in the US. Do yourself a favor and stay in NYC.
I like how this guy wants to stretch his money, which could be done practically anywhere in the country besides southern California, Bay Area, or NYC itself, but then he wants "year-round temperate weather with easy access to culture, food, art, music, and health care."
I think Rome, Italy or Madrid, Spain would be good bets.
There aren't too many places in the U.S. with temperature weather, reasonable COL and access to all of those things.
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