Before You Move to California, Be Prepared...

[antibes]

Originally Posted by Donn2390

I saw suze on Ophrey, and you are taking what she said way out of context. You can live very well on less than $100k a year in OC. It's all how you manage your money. My wife and I lived throughout our working careers in OC, with our highest combined income just over $100k. We retied as multimillionaires. We drove old cars with no payments, didn't spend money on anything unnecessary. We invested every cent we made. We probably went too much the other way, and were basically cheapskates, but it paid off in the end. We now own two paid off homes worth roughly a mill and a half, and over a million in liquid assets, so it can be done. My biggest problem in retirement is how to spend all of the money we accumulated before we pop off. and have to leave it all to the kid..!

The couple that was advised to move had no clue how to manage money. The lady was a shopaholic that bought everything she saw. they had three new expensive cars with sky payments, and a home they no way in Hell could afford. They were way upside down in their home. They lived like they made millions a year.
There are two extremes. We went all the way to one extreme, that couple went to the other extreme. I dare say our end results were much better. If you walk the line between the two of us, you will live quite nicely in OC
It doesn't matter where they live, if they continue their habits, they will remain in debt. One has to live within their means.

Great story. Thanks for sharing.
A catch22 situation, it seems: when you had youth, you spent it by not spending at all and experiencing much of anything trying to save too much. Now what you sacrificed to save, will be enjoyed by someone else... You know they won't value it, since easy money also goes easy?

I do wonder a bit about being frugile: is it good or wasted years? What's the point if you can't enjoy life? Money comes and goes, while experiences and memories last forever. I love my retail therapy, my cars, my travels, my houses... I can't imagine sitting and looking at my bank statement growing while I deprive myself. Can't imagine not socializing with my friends at some awesome restaurant, avoid a great sale, buy my dream car(s), go house hunting and dream away, invite my friends for a surprise birthday splurge on a yacht, or not seeing the world because I'd save money instead of experiencing new things or situations.
You don't feel like you have lost out somehow? This is not criticism. Just being curious.

[certsevtxert]

Originally Posted by Charles

Big dichotomy. People with Families. Single People. The former find it more difficult. The latter find it opportunistic.

Good to know. I am the latter, don't have a family to support.

[k81689]

Yes, it is very expensive to live here. Plus some cities charge huge utility tax on everything they can put their hands on. They even dare to mail you yearly to ask you to donate money for fire fighter fund.
But you can cut the wire of cable and phone and use prepaid wireless.
You can not get away from water/electricity/gas utility tax.
The fodd here is dirt cheap and tax free, if you shop only on-sale items.
It is also good to bike here which can save you gas/tax/insurance.. and good for your health.
Also CA is the only state with Proposition 13(hated by the current governor).
So if you manage your money well, you can retire here almost tax free.
Property tax will be the only big item one need to take care of.

[nmnita]

Interesting, the thread is 6 years old, then someone brought it back to life 4 years ago and then just yesterday again it is up and running.

I don't think it is a surprise to anyone, CA is a very expensive state to live in, but if people are prepared for the expense, good for them. Would I move back? Hell no, for a lot of reasons. That doesn't mean I don't understand those who want to give it a try. The problem I have, is with the young people, no job experience to speak of, not much savings and coming from low cost of living regions, thinking the want to live in California. Many of them haven't even visited and have no idea how quickly living in Paradise can change to living in HELL when your tummy is hungry and there isn't enough money to buy food.

I am also bothered by those who are so in love with CA and so blinded, they encourage these same young people to "follow their dreams" . For some people, the positives can outweigh the high cost of living. If you have a job before you make the move, if you are prepared for living is a smaller apt, home or room and have some saving, not many bills and want to experience the life in Ca, go for it. Just be prepared and too many are not. CA is a great state, but there is no utopia!!

[expatCA]

Originally Posted by antibes

Great story. Thanks for sharing.
A catch22 situation, it seems: when you had youth, you spent it by not spending at all and experiencing much of anything trying to save too much. Now what you sacrificed to save, will be enjoyed by someone else... You know they won't value it, since easy money also goes easy?

I do wonder a bit about being frugile: is it good or wasted years? What's the point if you can't enjoy life? Money comes and goes, while experiences and memories last forever. I love my retail therapy, my cars, my travels, my houses... I can't imagine sitting and looking at my bank statement growing while I deprive myself. Can't imagine not socializing with my friends at some awesome restaurant, avoid a great sale, buy my dream car(s), go house hunting and dream away, invite my friends for a surprise birthday splurge on a yacht, or not seeing the world because I'd save money instead of experiencing new things or situations.
You don't feel like you have lost out somehow? This is not criticism. Just being curious.

It is called balance.

When young you can make more money, change jobs, etc. When you get older that is no longer true. Then you need a healthy savings account. A wise persons does enjoy life, but without spending ever dime they male on "fun" which does not last, and does save for the proverbial "rainy day" and that savings should grow with each passing year. In fact as you get older and make more, it should grow more, and you will still have enough spendable income to have fun.

Stupidity is spending only on having fun. Wisdom seeks a balance while recognizing the changes age brings to us all.

[InTheZona]

Due to having a more diversified economy than most of the Sun Belt, there seems to be significantly more professional opportunities for both educated and non-educated folks in Southern California, specifically L.A. and Orange County, than in most of the Sun Belt, save Texas, Georgia, and North Carolina.

[certsevtxert]

Originally Posted by nmnita

Interesting, the thread is 6 years old, then someone brought it back to life 4 years ago and then just yesterday again it is up and running.

I don't think it is a surprise to anyone, CA is a very expensive state to live in, but if people are prepared for the expense, good for them. Would I move back? Hell no, for a lot of reasons. That doesn't mean I don't understand those who want to give it a try. The problem I have, is with the young people, no job experience to speak of, not much savings and coming from low cost of living regions, thinking the want to live in California. Many of them haven't even visited and have no idea how quickly living in Paradise can change to living in HELL when your tummy is hungry and there isn't enough money to buy food.

I am also bothered by those who are so in love with CA and so blinded, they encourage these same young people to "follow their dreams" . For some people, the positives can outweigh the high cost of living. If you have a job before you make the move, if you are prepared for living is a smaller apt, home or room and have some saving, not many bills and want to experience the life in Ca, go for it. Just be prepared and too many are not. CA is a great state, but there is no utopia!!

I am bothered by negative people like you who tell people NOT to follow their dreams! Shame on you.

[Mary22]

I am also for following your dreams. We all have such different ones. Many people I know who live in northern and southern CA don't have great jobs, live month to month, yet still like it here, including many of my community college students who don't have much money. Somehow they are all living here just fine.
Personally, I'm sick of living that way and want closer access to woodsy nature. But it's such a personal decision. This forum definitely helps for sharing info...

[certsevtxert]

Originally Posted by shanove

i am also for following your dreams. We all have such different ones. Many people i know who live in northern and southern ca don't have great jobs, live month to month, yet still like it here, including many of my community college students who don't have much money. Somehow they are all living here just fine. This forum definitely helps for sharing info...

+1