[HeadedWest]

Originally Posted by MrGompers

OK if you insist. S&P 500 index

All the info you could ever want right here.

CAGR of the Stock Market: Annualized Returns of the S&P 500

The average return for just the years 1984-2014 is 6.95% without dividend reinvest and adjusted for inflation. Add divided reinvestment it rises to 9.68% and still adjusted for inflation.

You won't find a better deal then this unless your an insider and/or a criminal.

Your calculation assumes a level 6% return. The market is capable of going down longer than you can wait it out.

[nep321]

Originally Posted by HeadedWest

Your calculation assumes a level 6% return. The market is capable of going down longer than you can wait it out.

And none of that even matters. My goal is not to get rich or make as much money as possible. My goal is to achieve a high level of happiness, satisfaction, health, and comfortable lifestyle. Right now my net worth is over $100K. By the age of 40 it will be over $300K in Ohio or FFC either way, due to different reasons. And I don't even care. $300K is less than $400K. And $400K is less than $500K. Where does it end??? If I attained $500K, does that mean I should want to reach $600K? And then $700K? It will never be "enough."

I want to make this move to achieve a more appealing lifestyle for myself.

[MrGompers]

Originally Posted by HeadedWest

Your calculation assumes a level 6% return. The market is capable of going down longer than you can wait it out.

You must have poor reading comprehension or you just can't stand it when I'm right. When I gave nep and everyone else here free financial advice including the math I specifically said it was over a 30 year time period compounded annually. no withdrawals

The 6% return is an average over 30 years and that website actually provides a lower mean compared to the traditional means that are quoted in financial papers. Most financial papers quote the "simple mean" vs the "compound annual growth rate" which is actually lower and more conservative.

Nep told us a million times he doesn't care about money. So I assume he doesn't care about the 30% in salary he forgo. I showed him what it would be worth in 30 years. Remember he doesn't care.

Now if you have the same money and do not need to use it within the next 5 years you should also follow my investment advice. It's the best investment advice you're going to get here for free.

If you need money in 5 years or less I would spread the risk more with more conservative choices than equity indices, but would still include them.

[Meemur]

Congrats, Nep.

I think you're doing the right thing.

I was one the folks who initially suggested Columbus to you. I think you will enjoy Short North and the gay community. I lived in Cols for 17 years and moved to DSM two years ago.

As for the tax thing, do consider renting in Dublin for your first year. I think that's where you are working. You can save some paperwork if you rent and work in the same city.

Just ignore the haters and stay focused on your goals of a better quality of life. The next few weeks are going to be really stressful and then the next six months will be a little tough because everything will be new, but give it a chance! You can't expect to walk into your new life and have things perfect immediately, but by next year at this time, I think you'll find that you are a new man in many ways.

Also, be patient with the construction on the outer belt (70/71 split) and up north. When that's finished in the next two years or so, it will make getting around the metro a lot easier.

Good luck with your move!

(I'm not normally up this late! I got into some bad potato salad and am waiting for it to pass or my Advil to kick in.)

[nep321]

Originally Posted by MrGompers

You must have poor reading comprehension or you just can't stand it when I'm right. When I gave nep and everyone else here free financial advice including the math I specifically said it was over a 30 year time period compounded annually. no withdrawals

The 6% return is an average over 30 years and that website actually provides a lower mean compared to the traditional means that are quoted in financial papers. Most financial papers quote the "simple mean" vs the "compound annual growth rate" which is actually lower and more conservative.

Nep told us a million times he doesn't care about money. So I assume he doesn't care about the 30% in salary he forgo. I showed him what it would be worth in 30 years. Remember he doesn't care.

Now if you have the same money and do not need to use it within the next 5 years you should also follow my investment advice. It's the best investment advice you're going to get here for free.

If you need money in 5 years or less I would spread the risk more with more conservative choices than equity indices, but would still include them.

My salary cut is 19% not 30%.

[JayCT]

Originally Posted by nep321

How so? What am I supposed to wait for? If making numerous threads and posts in these forums for the past 6 years isn't cautious or patient enough, then I don't know what is. I'm 31. I found a place that I believe I will enjoy living in. I have a job lined up. I'm happy with the salary offered. I'm moving. Waiting for "the next best thing" may not necessarily happen anytime soon, and probably won't.

But thanks for wishing me luck!

How can you say or even think a better offer will not come along somewhere??? It is simply called having patience. The offer stinks, period. You are getting significantly less pay even with the COL difference and less benefits and for what? Just because you are anxious for a change and are desperate to buy a cheap house. Would it really have been so horrible to wait a couple of months for a more reasonable offer (and yes, there would be one particularly since you are looking at multiple areas)? If you were my kid I would smacked you for taking this job (kidding of course, but I would clearly have said they would be stupid to do so). There is no advantage to this. There will be other jobs and most likely better ones at that. You are just jumping on the first one to come along. Again impatience. But this is your decision and now you have to live with it. JMHO, Jay

[JayCT]

Originally Posted by MrGompers

You must have poor reading comprehension or you just can't stand it when I'm right. When I gave nep and everyone else here free financial advice including the math I specifically said it was over a 30 year time period compounded annually. no withdrawals

The 6% return is an average over 30 years and that website actually provides a lower mean compared to the traditional means that are quoted in financial papers. Most financial papers quote the "simple mean" vs the "compound annual growth rate" which is actually lower and more conservative.

Nep told us a million times he doesn't care about money. So I assume he doesn't care about the 30% in salary he forgo. I showed him what it would be worth in 30 years. Remember he doesn't care.

Now if you have the same money and do not need to use it within the next 5 years you should also follow my investment advice. It's the best investment advice you're going to get here for free.

If you need money in 5 years or less I would spread the risk more with more conservative choices than equity indices, but would still include them.

He does not care about money but the majority of his complaint is that he can't buy a house here for 10 years. That is directly related to money. Jay

[JayCT]

Originally Posted by pulpfiction

Because we all know CT is the greatest place on Earth.

No bias here whatsoever.

I did not say he should stay in Connecticut. I said he should look for a better offer. He is accepting less pay AND more importantly, less benefits. The pay can be understood since it is a lower cost area but still it is questionable if it really is a lateral pay move. The benefits though are the problem. Less paid time off (PTO), higher medical costs for poorer coverage and less contributions to the 401k. What is the benefit for him?

And yes I do think Connecticut is a great place to live. It is not perfect but tell me what place is better. Jay

[JayCT]

Originally Posted by MrGompers

The only thing(s) cheaper in Ohio are rent/housing, property taxes, and gasoline. How much gas can you buy in one year? How much can you save in property tax? If you work in Ohio for 30 years how much will that savings amount to ? vs what you would have earned in CT. Higher earnings also means you can contribute more to a 401k and will have more earnings in your social security history. As a tax professional you should know this.

When you try to come back to CT in one year you will learn how grave your mistake was. We already had people come here and ask if their wages were commensurate with the COL here. You don't remember that ? When people come here from Florida and they offer the same Florida wages you don't think that's a problem ?

You can also see these questions in the NYC forum.

Actually the cost-of-living in parts of Florida are comparable to Connecticut outside of Fairfield County. I know people that thought about moving there and stop as soon as they did the math and found out that the cost in the major city they were thinking of moving to was as costly as Hartford and that the company expected them to take a pay cut. They did not take the offer. Jay

[JayCT]

Originally Posted by BobNJ1960

MrGompers, 50k Columbus = 84K Stamford, so his 63K =105K Stamford. He'll have more left over then ever, plus with a growing GDP, more employment opportunities than he had in Ct..even before you waved goodbye to 3 major corps.

BTW, once GE leaves , his job in Ct will end up seeing its salary level reduced.

You might have heard about that supply/demand thing.

If you think that GE leaving the state is going to make that big of a difference, then you know nothing about the Connecticut economy or even economics in general. There will be an impact to a point but there are still thousands of extremely well paying jobs in Fairfield County and the towns there are still considered some of the most desirable suburbs of New York City. Jay