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Old 11-27-2007, 12:23 PM
 
Location: right outside your window
621 posts, read 54,484 times
Reputation: 64
Question Really pray to start fresh. . .

I was born and raised in Orange County, have been there, done it all.
What advice could you give to me - open minded, willingness, and desire for change included.
This is what I'm asking about, all things below considering:
$27,500 in the bank.
Single
3 more classes and an internship to earn my Bachelor's in Psychology. (Transfering ok)
Loved the Bay area for a year (weather, people, traffic, atmosphere)
No kids, no job holding me back
Is that suffucient amount of money to "get started" enough?
I really want to make a decision by the end of the year, so I can start a new life. It's time.
What else do I need to make this happen for myself, and forget what anyone else thinks who knows me?

Last edited by WannaBNorCal; 11-27-2007 at 12:24 PM.. Reason: added to
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Old 11-27-2007, 01:41 PM
 
Location: Las Flores, Orange County, CA
26,362 posts, read 54,365,863 times
Reputation: 16315
Advice concerning what?
Get started doing what?

What kind of work do you expect to do?
Are you asking about buying a house or renting? (If so, all these data are easily accessible on the internet.)

Do you have a retirement account? (Are you saving for retirement?)
Do you have health insurance?
If you drive your own car, do you have auto insurance?
Do you have a credit card balance?
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Old 11-27-2007, 02:22 PM
 
Location: Virginia
242 posts, read 571,736 times
Reputation: 61
Move to Austin Texas....lol Thats the boat I am in and that where I am going. Lol
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Old 11-27-2007, 06:01 PM
 
Location: right outside your window
621 posts, read 54,484 times
Reputation: 64
Quote:
Originally Posted by Charles View Post
Advice concerning what? getting the hell out of Orange County
Get started doing what? Moving

What kind of work do you expect to do? Anything
Are you asking about buying a house or renting? (If so, all these data are easily accessible on the internet.) Renting, I know - Craigs List

Do you have a retirement account? (Are you saving for retirement?) No - I'm still young
Do you have health insurance? Yes
If you drive your own car, do you have auto insurance? Yes
Do you have a credit card balance? Yes, a lot, but who doesn't
My op was about a new life, fresh start, moving.

melbon - what's your situation?
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Old 11-27-2007, 06:13 PM
 
Location: Virginia
242 posts, read 571,736 times
Reputation: 61
Well kinda different, but same concept. Lived in OC, raised in California. Just wanted to start over, new friends, new home, new life. Sick of family drama. Wanted to meet new friends. We are done trying to work to pay for everything in california. So we checked out Austin, we loved it. Now we are seriously considering moving there. "THEY" say texans are super friendly, which is exciting!
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Old 11-27-2007, 06:17 PM
 
Location: Las Flores, Orange County, CA
26,362 posts, read 54,365,863 times
Reputation: 16315
Do you have a retirement account? (Are you saving for retirement?) No - I'm still young. Bummer, This is the best time to save.

Do you have a credit card balance? Yes, a lot, but who doesn't. I don't. Never have.



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Old 11-27-2007, 07:47 PM
 
Location: right outside your window
621 posts, read 54,484 times
Reputation: 64
Wow Charles, you just are da man - so what would you suggest?
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Old 11-27-2007, 08:21 PM
 
Location: Las Flores, Orange County, CA
26,362 posts, read 54,365,863 times
Reputation: 16315
Quote:
Originally Posted by WannaBNorCal View Post
Wow Charles, you just are da man - so what would you suggest?

First thing: If you have $27K in a bank account and it is earning a measly three or four or even six or seven percent and if you are paying a much higher interest rate on your credit card, then you should consider paying off the credit card with the $27K.

Open a Roth IRA and set up automatic monthly contributions of $416.65. In ten years it will be around $85K, In 20 years it will be around $316K, in 30 years you'll have real money, around $941K.

Where are your folks (or any logical, emotional, cultural support network) located?

Do you have any special skills that you can use to complement your BA in psychology? Financial? IT? Health? Education?
My wife is a psychologist and even she would tell you that with a only BA in psychology your career options are more limited than if you pursued something in mental health (masters level) or education.

Where might you consider living that you can afford?
I moved in between Colorado Springs and Denver because other than the weather the quality of life is better in just about every way than it is in the places (urban, suburban) in California where I can work (engineer); And it costs about 1/3 as much for real estate; And there is about 1/5 as much traffic; And I can access two metropolitan areas for jobs. I'm not 22 anymore so I don't care about the club scene, beach parties, etc. And the weather in Colorado is just as sunny and cheerful and more interesting. It's November and I played basketball outdoors in t-shirts and shorts at lunch today. That's normal.
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Old 11-27-2007, 08:58 PM
 
Location: right outside your window
621 posts, read 54,484 times
Reputation: 64
Quote:
Originally Posted by Charles View Post
First thing: If you have $27K in a bank account and it is earning a measly three or four or even six or seven percent and if you are paying a much higher interest rate on your credit card, then you should consider paying off the credit card with the $27K. Open a Roth IRA and set up automatic monthly contributions of $416.65. In ten years it will be around $85K, In 20 years it will be around $316K, in 30 years you'll have real money, around $941K. Where are your folks (or any logical, emotional, cultural support network) located? Do you have any special skills that you can use to complement your BA in psychology? Financial? IT? Health? Education?
My wife is a psychologist and even she would tell you that with a only BA in psychology your career options are more limited than if you pursued something in mental health (masters level) or education.
Where might you consider living that you can afford?
I moved in between Colorado Springs and Denver because other than the weather the quality of life is better in just about every way than it is in the places (urban, suburban) in California where I can work (engineer); And it costs about 1/3 as much for real estate; And there is about 1/5 as much traffic; And I can access two metropolitan areas for jobs. I'm not 22 anymore so I don't care about the club scene, beach parties, etc. And the weather in Colorado is just as sunny and cheerful and more interesting. It's November and I played basketball outdoors in t-shirts and shorts at lunch today. That's normal.
Thank you. I'm living off of that 27K now. I'm not working because I have some medical issues that need to be taken care of, and it's causing me a lot of stress, which makes matters worse. I don't even know what a Roth IRA is, can check into that. I can find out how much the 27K is earning. I have more than one credit card, I have several, and just got rid of the two with the highest interest rate. I only have $600 a month coming in. In terms of logical, emotional, cultural support network, my cousin is in NM, he's a lawyer and owns his own dental practice, we haven't spoken in years, my father is in LA, but is known to make bad "investments" with his mother and my brother, he is a con artist. I probably have support, but just don't ask for it. My godparents live right around the corner, whose adult children are succeeding. My childhood best friends are succeeding, and I'm wondering where I went wrong. I have a Medical Assisting certificate, and my A.A. in Liberal Studies, from a long time ago, though, and I know a Bachelor's in Psychology will not make you any $ unless you have a Masters or a PhD in it. It's like a high school diploma now. I thought about Health Psychology or a Masters in Public Health. Right now, I just moved back to my mom's house after living in Northern CA for a year, but I didn't do much there, was under a doctor's care for my medical issues. My godparent's daughter graduated from U of C Boulder and is teaching in Montessori I believe with her PhD. I have only been to Deer Valley CO skiing. I hear nice things about CO.
People who know me always say, "we see so much potential in you, I see hope for you", how do I make that a reality?
What am I doing wrong - can you see?
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Old 11-29-2007, 08:45 AM
 
12 posts, read 25,599 times
Reputation: 11
Default credit cards...?

Quote:
Originally Posted by Charles View Post
Do you have a retirement account? (Are you saving for retirement?) No - I'm still young. Bummer, This is the best time to save.

Do you have a credit card balance? Yes, a lot, but who doesn't. I don't. Never have.


You say, "Who doesn't have credit card debt?" ME...!! I have never, ever had a credit card in my life. Who needs 'em? If I don't have the cash to pay for it, then I can't afford it. Who wants to pay two or even three times the amount for an item purchased? !
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