Hi Mustaches,
Here is the latest idea on which I am obsessing. To be blunt, I have massive student loan debt. 120K worth at 5.25%. You don't need to beat me up because, trust me, I have been doing it to myself for years. I have tremendous regret and embarrassment over it. And no, I'm not using my degree anymore. I was. But now I'm not.
On the other hand, my husband and I have a home in Seattle that has nearly doubled in value since we bought it 4 years ago. We are ready for a change of scenery and are seriously thinking about moving. Seattle is booming and feeling very congested and we're just not digging it any more. We're thinking maybe Portland, maybe somewhere else, but probably still the PNW or the West, in general.
We could walk away with about $300,000 from our house sale. I would want to use it to pay off the loans and the rest as a down payment on a new home or split between a down payment and investments. Husband can work anywhere and currently makes 85K. I make 50K but would need to find a job wherever we went. We have no other debt and about 200K in retirement and investments.
If I loved my job and Seattle I probably would just hang on. But I don't and am really craving something new. I'm 38 and husband is 47. No kids. No other debt besides current mortgage. We don't have an official FIRE date but I feel like, whatever it is, we could get there quicker without this crushing student loan debt.
What do you think? Should we cash in and get out of dodge?