Possibly Leaving San Diego :( (El Cajon: health insurance, buying a house, buying)

[Spartanacus]

Originally Posted by Curious.In.California

An update on our situation...

Yesterday my husband's agent called up his current bosses and informed them of the SLC offer. The SD station said they don't want to lose my husband and are now trying to match the SLC offer to keep him here.

To make things more complicated, the NBC station in Sacramento is interested in flying my husband up to audition for a Morning Anchor position (a position that would pay well). I've noticed that rent is a lot cheaper in Sac so that would be a plus. Also, no snow.

In the meantime, SLC is waiting for us to make our decision as they want him to start in June and we don't know how much longer we'll be able to hold them off.

So our choices at the moment are:

1. Accept the SLC offer and move next month.
2. Accept whatever promotion/salary increase San Diego is offering to keep him here.
3. Turn down both SLC and SD in hopes that he gets the Morning Anchor gig in Sacramento.
4. Turn down all opportunities, continue working at his current station in San Diego until we find a better situation. (There are some risks with this option though - it could make things really awkward between him and his current bosses, with him turning down their offer to stay).

We aren't getting much sleep these days, if you can imagine. We're so torn...

I would take #3 and #4 off the table. As far as #3, why would you turn down two promotions without knowing if he gets the Sacramento gig? And regarding #4, you can always accept the promotion and then leave later. There is no employee loyalty any more, so there shouldn't be employer loyalty. CYA!!!

[CAHLUV]

Originally Posted by USDefault

Snow driving has been improved phenomenally the last decade. Today's quality snow tires are amazing. Get four snow tires, put them on when temps drop below 45 degrees, you'll have no problems.

Snow isn't the deciding factor here. The life you want to lead is.

Take the position if it's a money increase and you can greatly decrease your cost of living. Live cheaply and save furiously. I mean try to save greater than 50% of what you are earning -- you absolutely can do it with no kids, which is fantastic for you, because kids are enormous money sucks and dream killers. Maybe even try to save 75% if you have no debts, i.e. no school loans, no stupidly expensive cars, etc. Do this for a number of years. Maybe a decade.

Put the money into low-cost, safe investment accounts, preferably ones that pay you every month and every quarter. Do this for a while, especially in a low-cost-of-living state, and you'll be putting money away hand-over-fist. If you are diligent, after a while the income from your investments will match, and then exceed, your monthly expenses. When you hit this milestone, you will have independence, freedom and unparalleled optionality.

With diligent saving and investing, you will achieve a life most can only dream about. Doing what you want, when you want. Don't like Salt Lake winters? Jet over to Hawaii for a month or two in winter. Or winter in San Diego if you prefer. Or do whatever it is you want to do. Maybe you want to do absolutely nothing -- a perfectly valid choice. But it's a choice you can make, and follow through on. The overwhelming majority of people on this planet will never be able to do this. Wage slaves to the last.

So, don't be a wage slave forever. Don't allow San Diego "weather" and California's absolutely insane taxes, costs and fees rob you of the one resource that truly matters: time. Set up an inexpensive home base in a low cost-of-living state, preferably with low or no income taxes, and your financial strength and capability will overcome all. Plane tickets and a really nice AirBnB for a month or two are a pittance when compared with a mountain of savings and monthly income distributions rolling in like clockwork because you were diligent, and dedicated, and did what most people are too lazy to do. I assure you, nice weather during your most productive working years -- when you are stuck in an office, not enjoying that sun and weather you are paying for so dearly -- is not worth your financial independence. It's not even close.

How do I know all this? Because we did it.

This is so powerful! Financial Independence is the goal!

[shmoov_groovzsd]

Originally Posted by Curious.In.California

An update on our situation...

Yesterday my husband's agent called up his current bosses and informed them of the SLC offer. The SD station said they don't want to lose my husband and are now trying to match the SLC offer to keep him here.

To make things more complicated, the NBC station in Sacramento is interested in flying my husband up to audition for a Morning Anchor position (a position that would pay well). I've noticed that rent is a lot cheaper in Sac so that would be a plus. Also, no snow.

In the meantime, SLC is waiting for us to make our decision as they want him to start in June and we don't know how much longer we'll be able to hold them off.

So our choices at the moment are:

1. Accept the SLC offer and move next month.
2. Accept whatever promotion/salary increase San Diego is offering to keep him here.
3. Turn down both SLC and SD in hopes that he gets the Morning Anchor gig in Sacramento.
4. Turn down all opportunities, continue working at his current station in San Diego until we find a better situation. (There are some risks with this option though - it could make things really awkward between him and his current bosses, with him turning down their offer to stay).

We aren't getting much sleep these days, if you can imagine. We're so torn...

Some interesting options you have here.

Had a few questions...

1. How long are the typical contracts for the position? Are there any different terms in the other areas?
2. Career goals? Are there any inherent advantages for his career for staying/leaving (eg. better exposure or moving to a larger market that leaving here might work?)
3. Life goals. You addressed the life you dont want to want to leave right now, but would you feel better knowing that you could always come back a bit wiser and financially secure?

Variety is the spice of life and the truth is you are in your 30s where your age range can still allow you to take on some risk and not feel a financial or personal bite (assuming you dont have kids etc.)

Right now may be the best shot he has at growing his career based on age an opt and gaining a reputation as well as the kind of financial security you may want down the road.
However, you guys would know better than I if that is true for the industry.

[9kidsanddone]

You said you love SD and don't want to move and he can stay in SD and they will match the salary he would get in SLC...so stay in SD!

We are moving out of NJ and coming TO California (Temecula/Murrieta). I can't stand the cold and it's worth it to keep paying high housing and taxes (NJ is even worse than Cali) and live where I want to live!

[ndindy]

You have a lot of people who are in your same situation. How much you are in love with San Diego determines how much you want to work to stay here. 85k isn’t a lot of money if you want to live in anything other than a basic apartment.
Moving out of the state may mean you trade in one set of issues for another. Housing will be cheaper, you may be surprised what may be more expensive. My husband and I made 80k more in income in CA than we did in IN—and paid just 3k more in state income taxes. License plates, car and homeowners insurance and health insurance is all cheaper here in SD.
You may want to consider where your long term career prospects are best. Different careers require different strategies.

[someguy10]

I would factor plans to have kids or not into your decision. Kids are expensive directly. But also indirectly -- you'll almost surely either pay for expensive daycare or one of you will stop working. You may want/need a bigger place and perhaps in a better area with better schools.

[someguy10]

Originally Posted by ndindy

Moving out of the state may mean you trade in one set of issues for another. Housing will be cheaper, you may be surprised what may be more expensive. My husband and I made 80k more in income in CA than we did in IN—and paid just 3k more in state income taxes. License plates, car and homeowners insurance and health insurance is all cheaper here in SD.

Are you sure on the +80K being only 3K more in state income taxes? Just comparing CA's highly progressive tax brackets versus IN's flat 3.23%, your IN income would have been roughly $22K versus just over $100K in CA which seems unusual.

[ndindy]

Originally Posted by someguy10

Are you sure on the +80K being only 3K more in state income taxes? Just comparing CA's highly progressive tax brackets versus IN's flat 3.23%, your IN income would have been roughly $22K versus just over $100K in CA which seems unusual.

There are locality taxes in Indiana; on average its an additional 2% on top of the 3.23%. CA's progressive tax system means it's tiered and you aren't paying the effective tax rate on the first dollar you earn. My situation was married filing jointly, so two incomes each year.


We were very surprised as well, but didn't research it well before we moved. Thankfully, it was in our favor.

[someguy10]

Originally Posted by ndindy

There are locality taxes in Indiana; on average its an additional 2% on top of the 3.23%. CA's progressive tax system means it's tiered and you aren't paying the effective tax rate on the first dollar you earn. My situation was married filing jointly, so two incomes each year.


We were very surprised as well, but didn't research it well before we moved. Thankfully, it was in our favor.

Interesting! I'm a data nerd so I looked it up and the average across all IN counties is 1.59%. That isn't weighted (by population). Looks like the average property tax rate is 0.88% vs. SD's 1-1.2%. Of course, factoring in median home prices, that's almost $5K/yr more for SD.

[ndindy]

Originally Posted by someguy10

Interesting! I'm a data nerd so I looked it up and the average across all IN counties is 1.59%. That isn't weighted (by population). Looks like the average property tax rate is 0.88% vs. SD's 1-1.2%. Of course, factoring in median home prices, that's almost $5K/yr more for SD.

High housing prices and the corresponding property taxes make California more expensive than almost all other areas. But it pays to research, and talk to locals, to know what to expect before you move. Just about everyone making less than $75k is going to pay less CA state income tax than in Indiana. You probably aren't buying a house in CA with that income, but you are paying less state taxes.

The OP was discussing moving to SLC, or possibly another market so her husband could have better job opportunities. Any place you move, especially under the motivation that it will be less expensive, should be vetted. Too many expenses, when adjusted slightly upward, can eat away at the benefit of relocating. In the case of Indiana--health insurance, whether an employer sponsored plan or on the exchange is more expensive, because there are fewer insurers. Property taxes are based on an assessment that isn't always accurate, and you can incur "special assessments" that drive the cost above the 1% of the assessed value. The sales tax is 7%---but it's 10% on food at restaurants.

I am not a good resource for SLC, but it pays to run a budget and research your actual costs and expenses.