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One solution is to be a tax resident of another state. In many places, one can have a nice SFH with yard in a great neighborhood for $25K/year.
That's something a lot of people who either work from home (me) or are retired do. Six months and one day in Florida, then wherever.
It's not for me though. I get satisfaction out of having a place to call home. I don't want to have two sets of sorta-neighbors.
Plus you're paying two sets of property taxes. You'll have to rent out your homes for a few months to break even there. You have half the budget for your home- or you're putting a higher percentage of your portfolio into real estate than you originally wanted to.
California will invariably hound you to prove you only lived in CA for 5 months. That involves lawyers, and more work. And stress. It goes on.
I vacation in San Diego one or twice a year now. That's plenty for me. I guess depending on how you look at it, I could fly business class and stay at one of the nicest villas in the city for "free" during said trips.
It's not money well spent. SD is a great place, but there is a reason guys like Buffet live in the middle of America. Smart people don't just spend all their money because it seems cool. SD isn't exactly filled with a million celebrities or wealthy individuals who just moved here. Half the dot com and tech wealth bought real estate up in Washington State years ago. Far cheaper and no state income tax. It's the same reason people in NYC bought up real estate down in Florida years ago. Smart business decisions probably means you don't wind up overspending in SD.
SD is a great place to live, but nobody would ever call it a good business choice. So if somebody wants that extra $40K+ per year by not moving to SD, they probably are making the right business choice. And in the long run that person will probably enjoy places like SD more than most of the people who live here.
Your last sentence is completely false, and it's also sort of disingenuous to compare regular people to the ultra-rich.
Guys like Buffet can officially live in flyover country because they don't actually have to be in flyover country much of the time. If you're a normal person, you work near where you live, and you better learn to like it. If you have enough money to spend the rest of your life enjoying every paradise on Earth, it doesn't matter where your official residence is. You can pack up and fly to Hawaii on a whim if you want.
For the rest of us, it's worth it to find a place where we really love the quality of life, and the quality of life in SoCal is considerably higher than the quality of life in the Midwest or the South. Period.
Also, the tax rate is not even remotely close to 50%, even at moderate income levels.
Someone else in this thread was completely right; those here urging that poster to go back to North Carolina likely don't get it because they've never had to live in North Carolina.
I used to live in Texas, and while the cities there are nice, I don't miss the fact that I couldn't go outside from May to September because of triple-digit heat, oppressive humidity, and nuclear-powered mosquitoes. (The insane property taxes there don't help.) For six months out of the year, every single day is much more pleasant in California. It isn't even close, and that's without taking into account Southern politics and gun culture and the feeling of shame I had whenever one of my elected officials opened his mouth on television. Plus, I make more money in California.
People keep talking about needing more money to maintain your lifestyle if you move to California, but... why would you want to do that? Part of the point of moving to the Best Coast is to live a different lifestyle. Life is a little simpler here, and it's less about having the largest house or the nicest car or the shiniest clothes. Who needs all that when you have the ocean and the mountains nearby?
Yeah I got that he [you] wouldn't want to pay half or more of your income in taxes on principle. And I understand having to move if after paying 50% of your income in taxes, you can't make ends meet.
But on a 600K income?!? If I were making that kind of money I would have no problem paying 50% or more in order to live on the west coast. For me the principle of living where I want far outweighs any problem I would have paying taxes, but to each his own...
I hope this doesn't come off as snotty. That's not my intent.
I feel the need to point out that when I made 40 grand a year, I said the exact same thing. When you actually write that check, however, it's different. It just is.
We're talking about high incomes here, no question. But I don't have Tiger Woods money. I'm not ordering Château Margaux at lunch.
I challenge you to put your fantasy cap on, and spend a moment thinking about what you would do with 50 thousand dollars to spend on whatever frivolous, spectacular thing you can imagine.
...did you choose "living in san diego?" If you did, you belong in San Diego. If you didn't, well..
It's unf-ing believable to me that some parts of our country are off limits to the working class. Whole cities, counties, and regions. We are past "can I live on that street" and now many of us are forced to remain in middle America.
Your last sentence is completely false, and it's also sort of disingenuous to compare regular people to the ultra-rich.
Guys like Buffet can officially live in flyover country because they don't actually have to be in flyover country much of the time. If you're a normal person, you work near where you live, and you better learn to like it. If you have enough money to spend the rest of your life enjoying every paradise on Earth, it doesn't matter where your official residence is. You can pack up and fly to Hawaii on a whim if you want.
For the rest of us, it's worth it to find a place where we really love the quality of life, and the quality of life in SoCal is considerably higher than the quality of life in the Midwest or the South. Period.
Also, the tax rate is not even remotely close to 50%, even at moderate income levels.
The sentiment is fair, but Buffet isn't a good example. He doesn't travel much. Buffet lives in Nebraska because he loves it there. He gets the frugal tag for other reasons, not Nebraska. Nebraska has the 15th highest personal income tax in the country. It's a cheap state for people who don't make any money, not for rich guys.
RE tax percentages...40%+ federally if you include Medicare. 12.3-13.3 in deep six figure income territory California. Few deductions if you aren't politically connected, or cheating. Respectfully, do the math...
Quote:
Originally Posted by OwlAndSparrow
Life is a little simpler here, and it's less about having the largest house or the nicest car or the shiniest clothes. Who needs all that when you have the ocean and the mountains nearby?
Sorry to be smug, but I did laugh out loud at this. Southern California. Southern. Freakin. California. Is all about the "little things." About simplicity? About a lack of materialism? About not keeping up with the Jones'?
Southern California, by any reasonable mans definition, is the single most materialistic, plastic culture of any place in human civilization outside of Monaco. It makes NYC seem like rural Idaho. It makes London feel like a fishing village in New Zealand.
Of course you can meet people who aren't into materialism in Socal. But if we're speaking generally here...well..
I love SOCAL, I do. But come on.
I think you might want to release that gem from your pro-SOCAL repertoire, friend.
Your last sentence is completely false, and it's also sort of disingenuous to compare regular people to the ultra-rich.
Guys like Buffet can officially live in flyover country because they don't actually have to be in flyover country much of the time. If you're a normal person, you work near where you live, and you better learn to like it. If you have enough money to spend the rest of your life enjoying every paradise on Earth, it doesn't matter where your official residence is. You can pack up and fly to Hawaii on a whim if you want.
For the rest of us, it's worth it to find a place where we really love the quality of life, and the quality of life in SoCal is considerably higher than the quality of life in the Midwest or the South. Period.
Also, the tax rate is not even remotely close to 50%, even at moderate income levels.
Someone else in this thread was completely right; those here urging that poster to go back to North Carolina likely don't get it because they've never had to live in North Carolina.
I used to live in Texas, and while the cities there are nice, I don't miss the fact that I couldn't go outside from May to September because of triple-digit heat, oppressive humidity, and nuclear-powered mosquitoes. (The insane property taxes there don't help.) For six months out of the year, every single day is much more pleasant in California. It isn't even close, and that's without taking into account Southern politics and gun culture and the feeling of shame I had whenever one of my elected officials opened his mouth on television. Plus, I make more money in California.
People keep talking about needing more money to maintain your lifestyle if you move to California, but... why would you want to do that? Part of the point of moving to the Best Coast is to live a different lifestyle. Life is a little simpler here, and it's less about having the largest house or the nicest car or the shiniest clothes. Who needs all that when you have the ocean and the mountains nearby?
Uh ok, now we are starting to understand. Well, some of that which you think makes the Texas and N Carolina's of the US so bad is exactly why I want out of this place. It's called freedom. No weather or money can buy that. CA is a completely different place than it was 30 years ago when I moved here. There is a law or a tax on just about anything you want, or want to do.
Your last sentence is completely false, and it's also sort of disingenuous to compare regular people to the ultra-rich.
Guys like Buffet can officially live in flyover country because they don't actually have to be in flyover country much of the time. If you're a normal person, you work near where you live, and you better learn to like it. If you have enough money to spend the rest of your life enjoying every paradise on Earth, it doesn't matter where your official residence is. You can pack up and fly to Hawaii on a whim if you want.
For the rest of us, it's worth it to find a place where we really love the quality of life, and the quality of life in SoCal is considerably higher than the quality of life in the Midwest or the South. Period.
Also, the tax rate is not even remotely close to 50%, even at moderate income levels.
Someone else in this thread was completely right; those here urging that poster to go back to North Carolina likely don't get it because they've never had to live in North Carolina.
I used to live in Texas, and while the cities there are nice, I don't miss the fact that I couldn't go outside from May to September because of triple-digit heat, oppressive humidity, and nuclear-powered mosquitoes. (The insane property taxes there don't help.) For six months out of the year, every single day is much more pleasant in California. It isn't even close, and that's without taking into account Southern politics and gun culture and the feeling of shame I had whenever one of my elected officials opened his mouth on television. Plus, I make more money in California.
People keep talking about needing more money to maintain your lifestyle if you move to California, but... why would you want to do that? Part of the point of moving to the Best Coast is to live a different lifestyle. Life is a little simpler here, and it's less about having the largest house or the nicest car or the shiniest clothes. Who needs all that when you have the ocean and the mountains nearby?
Very well said!
I will likely NEVER be in a position to write a tax check on a $600,000 income. I won't be in a position to have a tax shelter property in FL, either. It's hard for me to comment on those situations because that's a completely different life from the one I lead. My husband and I are just "regular" people living life as best we can. Working, relaxing at home, taking our kids to the neighborhood pool, city parks, beach, legoland, etc. We drive modest vehicles. We're content. Can’t ask for much more! We love the San Diego vibe, but I'm sure we would have made the best of life had we stayed in NC ourselves (I absolutely love the Appalachian mountains, and the beaches were nice when we'd go...not as often as the mountains because high temps and high humidity are not for me!).
However, most of the rest of NC is nothing to write home about. There are some nice museums in Raleigh, Charlotte has a pretty decent urban scene, I think (didn't get to Charlotte much myself). Otherwise, you're in Hicktown, USA. And that's why the San Diego lifestyle is worth it for us.
I'm sorry; I don't follow. I reread the thread, and didn't see anything about the child being ill, so I assume you mean if the kid gets a virus or something and has to miss school. I guess the OP would do whatever he was going to do in NC. He didn't mention having family or a support system in NC, either. Having said that, if he does, then that is a huge thing to consider. Bigger than money, IMO.
O.P. has a small child
Children under 5 get sick often(cold Flu ect..)
If O.P. starts a new job, how much Sick Time does he have to care for a sick child?
Does O.P. have extra funds to have someone take care of a sick child
Known Unknowns.
You're not the O.P. posing as someone else are you?
O.P. has a small child
Children under 5 get sick often(cold Flu ect..)
If O.P. starts a new job, how much Sick Time does he have to care for a sick child?
Does O.P. have extra funds to have someone take care of a sick child
Known Unknowns.
You're not the O.P. posing as someone else are you?
Seriously? I commented on the other thread and was called a troll, and now I must be the OP of the other thread because I mentioned it here. Am I not coming across as a real person like any of you commenting on the forum? I'm not being rude, sarcastic, angry...none of those things. Actually, the thread with the family of 3 making $240,000 a year prompted me to start this post. (No, I'm not one of them, either, before you ask...) I started the thread to find out if there were any positive comments regarding moving here. We all know it's expensive, but most of us on the forum live here and love it. Then someone commented here that they thought $70,000 was a reasonable salary requirement minimum, which prompted me to mention the post where the guy is asking about $80,000 salary. Nothing more sinister or devious than that. Him being from NC and my having lived in NC was completely coincidental, but it gives me some insight as to why he may be tempted to leave the state. Having lived in both states, I can tell you there are advantages and disadvantages to each, and it depends on his priorities as to which one he wants to live in. And I don't want to assume (and I may be way off! If I am, I apologize.), but he mentioned being a single dad. I'm not saying that he's gay, but on the off chance that he is, then that may be another factor to consider when deciding to leave NC or not. It is not a gay friendly state.
As to the sick leave part, that is kind of a stretch as a reason not to move, at least without having further information from the OP. Does he even have sick leave at his job in NC? I mean, it could be a total non-issue if he doesn't. Did I mention snow days? Depending on where he lives, the central region of NC had 10-12 snow days from school last winter. My friends in NC were having a REALLY tough time scrambling for childcare and trying to make it into work on icy/snowy roads, or they were having to eat up paid time off days to stay home with their kids. That's an issue every winter in NC.
It mostly boils down to housing, IMO. Those people who bought their homes awhile ago are fine but those people who are now moving here or are still renting, are going to struggle here. Now I'm talking about the average, middle class person or family, not people who make 6 figures. Personally I don't want to break into my 401k, and pay tax on it besides, to pay my rent (which has skyrocketed), I just can't justify it financially, looking to the future. But that's just me...
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I commented on the other thread and was called a troll, and now I must be the OP of the other thread because I mentioned it here. Am I not coming across as a real person like any of you commenting on the forum? I'm not being rude, sarcastic, angry...none of those things. Actually, the thread with the family of 3 making $240,000 a year prompted me to start this post. (No, I'm not one of them, either, before you ask...) I started the thread to find out if there were any positive comments regarding moving here. We all know it's expensive, but most of us on the forum live here and love it. Then someone commented here that they thought $70,000 was a reasonable salary requirement minimum, which prompted me to mention the post where the guy is asking about $80,000 salary. Nothing more sinister or devious than that. Him being from NC and my having lived in NC was completely coincidental, but it gives me some insight as to why he may be tempted to leave the state. Having lived in both states, I can tell you there are advantages and disadvantages to each, and it depends on his priorities as to which one he wants to live in. And I don't want to assume (and I may be way off! If I am, I apologize.), but he mentioned being a single dad. I'm not saying that he's gay, but on the off chance that he is, then that may be another factor to consider when deciding to leave NC or not. It is not a gay friendly state. 
