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You have a larger life problem to deal with than moving to Hawaii. You have a BA and MA degree which have zero value, at least has a zero value to you. No debt is great, but you need job skills that translate to a good job, that translates to an income stream. I'm assuming that the $105K is inherited money, since there's no way you could save that much money living on poverty wages. You lived in Scotland 4 years, Australia 2 years, New Zealand 1.5 years, currently living in DC. How could you live all those places with a poverty level income? Why would a person with a BA and MA be earning poverty wages, $8.4K to $14.4K per year? Something is seriously wrong with this story.
It does not take much research at all to know you cannot ship a car packed with your possessions, that was pointed out to you. To ship the car, probably $1100. Probably several thousand dollars to ship everything else.
You might be able to survive a year, maybe longer on that $105K in Hawaii. You'll be shocked how fast the money goes away. What do you do when the money runs out? I recommend you seriously think about what type of work you can do that can provide yoursef a decent income stream. Then use the money to go back to school for something that will turn into a viable job and income in the future.
Dave, he should be able to last several years on that amount with a job too. Life here is not as dire as you predict "Chicken-Little" style. Look at all the people who live here on a fraction of that amount.
I live in an ocean-front condo in West Maui and could almost live on my income as a substitute teacher. He could do the same. Since he states that he has lived all over the world, he probably has better survival/adaptability instincts than you do.
BTW: When I moved here I brought 3 carry-ons and 2 suitcases. Total cost: $25.00, and I brought too much! (The air ticket was free with miles.)
Living here is a lot different than visiting from Minnesota. Prices are really not much different than I was used to in California. I spend WAY less on entertainment here because of the amazing waterpark located just outside my door, and I visit Costco/Walmart/Target once a week.
Not everyone who wants to move to Hawaii is destined to fail. This guy has a better chance than most!
How about picking a different island other than Oahu? Cost of living is much less on some of the other islands. Maui, Big Island and Kauai all have hospitality jobs. Perhaps taking a mini-vacation first to visit several of the islands and different places before deciding which one you'd prefer to be based out of might make for a nicer life once you get established in Hawaii? Betcha $105K would go a lot further on some of the other islands.
Hawaii Electric stock pays about a 4% dividend. Invest $105K into their stock and it's an additional $350 a month income. You can always sell some stock when you need cash for some other investment.
Or buy a house on the Big Island where you can rent out a room or two to cover the mortgage. Then with your housing paid for, maybe you'd not need to find more work than what you do online?
Dave, he should be able to last several years on that amount with a job too. Life here is not as dire as you predict "Chicken-Little" style. Look at all the people who live here on a fraction of that amount.
I live in an ocean-front condo in West Maui and could almost live on my income as a substitute teacher. He could do the same. Since he states that he has lived all over the world, he probably has better survival/adaptability instincts than you do.
BTW: When I moved here I brought 3 carry-ons and 2 suitcases. Total cost: $25.00, and I brought too much! (The air ticket was free with miles.)
Living here is a lot different than visiting from Minnesota. Prices are really not much different than I was used to in California. I spend WAY less on entertainment here because of the amazing waterpark located just outside my door, and I visit Costco/Walmart/Target once a week.
Not everyone who wants to move to Hawaii is destined to fail. This guy has a better chance than most!
I did say he might last a year or more on the $105K. Lets assume the $105K lasts 3 years before the bank account hits zero. What happens when the money runs out? The underlying problems are much more severe. If someone has a BA and MA degree, and is working for poverty wages in a field that has no relationship to their education, there is a serious problem with their financial future.
After a person graduates from college, the clock is ticking. If a person bums around after the graduation, instead of seeking employment in the education field, the value of the degree becomes less and less with the passing of time. It's not clear from the post what was occurring in the foreign counties. It's possible to move to a foreign county and make a lot of money, or to just bum around. After several years with no jobs related to the education, the degree eventually has little or no value. It becomes increasingly difficult to be hired in your educated field, since you are competing with other people who have actual work experience related to their education.
At age 26, after spending the time, effort, and money to obtain a BA an MA degree, yet make less income than a high school dropout, there is a serious financial problem that is occurring. Flying to Hawaii, with 3 carry-ons and 2 suitcases for only $25 is extremely unusual, and does not mean that the OP can to fly to Hawaii with baggage will cost only $25.
It's possible to move to Hawaii, and live off the $105K, while obtaining multiple part-time, low-wage, no benefits jobs. After the savings runs dry, and it will run dry, you end up with a minimalist lifestyle, working 80 hours a week for low wages, no benefits, no health care (unless the taxpayer pay for the health care), saving nothing for emergencies or retirement. A financial train wreck might be looming in the future.
As you get older, it becomes harder and harder to recover from a situation where you have a high level education, but you are only able to earn poverty wages. We'll be seeing these types of situations a lot more in the future, it the taxpayers have to pay to make college free for students. People will take the easy way out in school, take easy majors that have no financial future, resulting in poverty wages that could have been obtained by a high school drop out.
So, it's possible for the OP to move to Hawaii with $105K in savings, and survive for several years, live a minimalist lifestyle, working a huge number of hours for low wages. There isn't much of a chance for a successful long term financial future. The more likely long term outcome will be just another poor person, who is over educated, living off the government dole. Or, perhaps just another future homeless person wandering around Hawaii, living like a zombie.
I did say he might last a year or more on the $105K. Lets assume the $105K lasts 3 years before the bank account hits zero. What happens when the money runs out?
It's possible to move to Hawaii, and live off the $105K, while obtaining multiple part-time, low-wage, no benefits jobs. After the savings runs dry, and it will run dry, you end up with a minimalist lifestyle, working 80 hours a week for low wages, no benefits, no health care (unless the taxpayer pay for the health care), saving nothing for emergencies or retirement. A financial train wreck might be looming in the future.
So, it's possible for the OP to move to Hawaii with $105K in savings, and survive for several years, live a minimalist lifestyle, working a huge number of hours for low wages. There isn't much of a chance for a successful long term financial future. The more likely long term outcome will be just another poor person, who is over educated, living off the government dole. Or, perhaps just another future homeless person wandering around Hawaii, living like a zombie.
Dave you are stuck on this notion that people like this OP have no chance of getting any work except part-time, low-wage, no-benefits jobs. It is simply not true. For example, he could become a teacher. This year the State is short 500 teachers. Subbing pays $150+ per day with just a bachelor's degree so he is more than qualified for that. There are many other possibilities as well. Construction is booming as is the entire hospitality industry. Someone with two degrees and experience living in many different countries is probably adaptable. Not everyone needs to amass a huge wealth portfolio to be happy in life. Moving here with $100k puts him miles ahead of all the dreamers who come with $10k (+or-).
BTW: While he may not be able to move his belongings here for $25, it certainly won't cost thousands (as you suggest) unless he brings furniture. Not likely!
Last edited by Futuremauian; 09-25-2016 at 12:53 PM..
Reason: Added a line
How about picking a different island other than Oahu? Cost of living is much less on some of the other islands. Maui, Big Island and Kauai all have hospitality jobs. Perhaps taking a mini-vacation first to visit several of the islands and different places before deciding which one you'd prefer to be based out of might make for a nicer life once you get established in Hawaii? Betcha $105K would go a lot further on some of the other islands.
Hawaii Electric stock pays about a 4% dividend. Invest $105K into their stock and it's an additional $350 a month income. You can always sell some stock when you need cash for some other investment.
Or buy a house on the Big Island where you can rent out a room or two to cover the mortgage. Then with your housing paid for, maybe you'd not need to find more work than what you do online?
Re other islands: My logic was that the larger population of Oahu = more opportunities, both corporate and not corporate. Maui was/is a maybe, but the BI and Kaui seem a bit risky. Also, if I am going to take pursue surfing further, that puts Oahu ahead on the recreation end.
Buying a house and being the landlord is not in the cards right now. I have seen what being a landlord actually means, and it's not terribly appealing ATM.
I would not rely on my online work. I am in the infancy of building a client portfolio (as well as building a portfolio of work), and relevant travel industry changes mean that the work flow isn't guaranteed in the long term.
my opinion is closer in line with davephan's. But if the OP understands that he'll likely be treading water financially with 1 job plus his side income, then that is his choice.
Dave you are stuck on this notion that people like this OP have no chance of getting any work except part-time, low-wage, no-benefits jobs. It is simply not true. For example, he could become a teacher. This year the State is short 500 teachers. Subbing pays $150+ per day with just a bachelor's degree so he is more than qualified for that. There are many other possibilities as well. Construction is booming as is the entire hospitality industry. Someone with two degrees and experience living in many different countries is probably adaptable. Not everyone needs to amass a huge wealth portfolio to be happy in life. Moving here with $100k puts him miles ahead of all the dreamers who come with $10k (+or-).
BTW: While he may not be able to move his belongings here for $25, it certainly won't cost thousands (as you suggest) unless he brings furniture. Not likely!
He stated entry level hospitality jobs, not teaching, not construction, not high tech or anything else. And that industry is characteristically part time (at least starting), low wage, low benefits.
He stated entry level hospitality jobs, not teaching, not construction, not high tech or anything else. And that industry is characteristically part time (at least starting), low wage, low benefits.
So my suggestions are not valid? Who are you to decide that?
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I spend WAY less on entertainment here because of the amazing waterpark located just outside my door, and I visit Costco/Walmart/Target once a week.
It is simply not true. For example, he could become a teacher. This year the State is short 500 teachers. Subbing pays $150+ per day with just a bachelor's degree so he is more than qualified for that. There are many other possibilities as well. Construction is booming as is the entire hospitality industry. Someone with two degrees and experience living in many different countries is probably adaptable. Not everyone needs to amass a huge wealth portfolio to be happy in life. Moving here with $100k puts him miles ahead of all the dreamers who come with $10k (+or-).
