Poll

If instantly FI would you stay in your current area?

Yes
88 (41.3%)
No
86 (40.4%)
Not sure
39 (18.3%)

Total Members Voted: 207

Author Topic: If instantly FI would you stay in your current area?  (Read 18283 times)

Albert

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If instantly FI would you stay in your current area?
« on: August 11, 2013, 02:09:16 PM »
There's been a lot of talk about moving to cheaper cost of living to reach FI earlier, but for those of us who are not there yet if by some fortunate event you were to attain it instantly would you keep living in the same area you currently do?

For me it's pretty close to clear No. I like the place just fine, but it's very expensive and I have no family roots here.

ender

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Re: If instantly FI would you stay in your current area?
« Reply #1 on: August 11, 2013, 02:27:42 PM »
Do you mean "FI regardless of where you live?"

For example FI in California is a lot different than FI in small town USA, at least for some costs, so you might be FI in one area and not another.

If I was completely FI regardless of location I probably would move, yes.

Albert

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Re: If instantly FI would you stay in your current area?
« Reply #2 on: August 11, 2013, 02:36:26 PM »
Yes, I meant regardless of where you live.  If you live in a cheap area already then you can imagine rich enough to be FI in Manhattan. :)

KMMK

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Re: If instantly FI would you stay in your current area?
« Reply #3 on: August 11, 2013, 03:21:13 PM »
In the summer, maybe. In the winter, no way.

Rural

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Re: If instantly FI would you stay in your current area?
« Reply #4 on: August 11, 2013, 03:29:39 PM »
Yes, definitely, regardless of the level of our fortune. It would be hard to find a lower COL area in the US, though we would be FI in many countries now. But here is where we want to be.

arebelspy

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Re: If instantly FI would you stay in your current area?
« Reply #5 on: August 11, 2013, 03:44:54 PM »
My FIRE plan is to start traveling the world full time, so my answer is "no" and would be "no" no matter where I was living.
I am a former teacher who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and am now settled with three kids.
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2527

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Re: If instantly FI would you stay in your current area?
« Reply #6 on: August 11, 2013, 03:48:37 PM »
Stay for the kids' school.

Zikoris

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Re: If instantly FI would you stay in your current area?
« Reply #7 on: August 11, 2013, 03:49:10 PM »
Vancouver will probably always be my "home base" where I come back to from time to time, maybe live for 6 months to a year from time to time, so I put yes - but I intend to travel full time shortly after hitting FI.

Frankies Girl

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Re: If instantly FI would you stay in your current area?
« Reply #8 on: August 11, 2013, 04:03:07 PM »
I'm technically FI already, but working for a little while longer. Do not plan on staying where I live currently.

I live in a suburb of a large city, and I'm from another state and a much smaller town type. My inclination is to go back to the area I'm from. Maybe not the same town, but the same general area anyway. Should be same or less COL.

totoro

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Re: If instantly FI would you stay in your current area?
« Reply #9 on: August 11, 2013, 04:16:31 PM »
Not only will I not move, I have every intention of travelling as little as possible when I stop working.  I'll be happy if I never take another flight abroad.  We have a vacation house in a different area of the province and that is about as far as I intend to go.  I've been everywhere I'd like to go and I don't feel like I'm missing out on anything.

Kriegsspiel

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Re: If instantly FI would you stay in your current area?
« Reply #10 on: August 11, 2013, 04:53:47 PM »
No. I got the cheap part of the equation down, but as for the "beautiful, great weather, people to hang out with, etc" part of it... I kinda missed there :p

AlmostIndependent

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Re: If instantly FI would you stay in your current area?
« Reply #11 on: August 11, 2013, 04:59:09 PM »
I would have to say "no." Alaska has a pretty high COL. Once I quit the job there won't be much reason to stay. I suppose there's lots of factors that go into that decision but for now I don't think I'll stay.

Dee

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Re: If instantly FI would you stay in your current area?
« Reply #12 on: August 11, 2013, 05:29:51 PM »
If instantly FI, there are many places I would consider. While it's unlikely I'd stay within the city, my move very well might remain within my general area. My boyfriend and I would likely find a snug home by a waterfront within our current general vicinity.

prodarwin

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Re: If instantly FI would you stay in your current area?
« Reply #13 on: August 11, 2013, 05:32:24 PM »
Not a chance.  I moved here for the low cost of living and a good job.  If those things became unnecessary, I'd be out of here in a split second.

Zamboni

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Re: If instantly FI would you stay in your current area?
« Reply #14 on: August 11, 2013, 05:34:46 PM »
Yes, to keep the children in a stable school situation.

But, when they graduate high school, if I was FI I would move to the mountains or the coast.  Maybe near MMM, so I could ski more often!

jdoolin

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Re: If instantly FI would you stay in your current area?
« Reply #15 on: August 11, 2013, 07:13:01 PM »
Without a doubt I'd stay where I am.  It's Small Town, USA at its finest, very low COL, great people, low crime, strong sense of community, we experience all the seasons (which I love), we're safe from most major natural disasters and this is where the biggest part of our family lives, which is important to us.

geekette

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Re: If instantly FI would you stay in your current area?
« Reply #16 on: August 11, 2013, 08:24:52 PM »
I'd like to stay - we like it here and our family is here (but the politics are getting dicey).  Unfortunately, DH's only family is probably going to move west, and that will be difficult since we're much closer to her than to my family.  Argh.

kudy

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Re: If instantly FI would you stay in your current area?
« Reply #17 on: August 11, 2013, 08:55:59 PM »
I hope to never leave.

Iceplant18

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Re: If instantly FI would you stay in your current area?
« Reply #18 on: August 11, 2013, 09:08:40 PM »
Personally if I moved to a lesser expensive area I could retire RIGHT NOW.  I've often spent hours upon hours thinking about whether or not I should.  It's VEEEEEERY tempting.  If I stay where I am now which is what I'd prefer (money set aside) then I could retire in about 3.5 years.  At the moment I've decided to stay put.  Can't say I'm sure why.  I suppose it's because early retirement to me isn't something I need immediately.  Although I do want it.  Choices Choices

imustachemystash

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Re: If instantly FI would you stay in your current area?
« Reply #19 on: August 11, 2013, 09:14:06 PM »
I would stay because my family and friends are all here.  I would like some adventure though, so maybe I would rent a place in Spain to live during the rainy winter months.  I studied abroad in Spain and it was so fun.  I call it the Disneyland for adults.

cats

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Re: If instantly FI would you stay in your current area?
« Reply #20 on: August 11, 2013, 09:43:29 PM »
We'd probably stay put, though there are other places I'd definitely be interested in exploring and maybe moving too.  But as a home base, we currently have great weather, very walkable/bikeable location, lots of cool stuff going on, etc. etc. etc.  So no immediate rush to move!

Jamesqf

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Re: If instantly FI would you stay in your current area?
« Reply #21 on: August 11, 2013, 10:21:44 PM »
Depends on just how FI I get to be.  Rich enough to buy a reasonable-sized acreage in say Montana or Wyoming, yes, I'd move.  Current standard of living, I'd stay here.

impaire

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Re: If instantly FI would you stay in your current area?
« Reply #22 on: August 11, 2013, 10:28:59 PM »
I'd stay put for some years, since I've only been here for a relatively short time and I am really liking it. However I don't think this is my "forever" home base. My husband and I have a few trips planned in the next 3-4 years, with the avowed intent to figure out the best location for that home base.

tomsang

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Re: If instantly FI would you stay in your current area?
« Reply #23 on: August 11, 2013, 10:38:23 PM »
Lots of exploring, but staying in the general vicinity when purchasing our downsized retirement home.

MoneyCat

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Re: If instantly FI would you stay in your current area?
« Reply #24 on: August 12, 2013, 06:04:16 AM »
I had to move to a high COL area five years ago for employment reasons.  If I was FI, I would immediately begin planning to move somewhere less expensive.  I love the desert, so I would love to move somewhere like Nevada or Arizona.

Nancy

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Re: If instantly FI would you stay in your current area?
« Reply #25 on: August 12, 2013, 07:25:57 AM »
Our plan is to travel and live in as many places as we can for as long as we like. If/when we find the perfect place for us, we'll settle there.

BlueMR2

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Re: If instantly FI would you stay in your current area?
« Reply #26 on: August 12, 2013, 08:19:14 AM »
Definitely would stay.  I love the Great Lakes region.

Zaga

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Re: If instantly FI would you stay in your current area?
« Reply #27 on: August 12, 2013, 09:18:19 AM »
Without a doubt I'd stay where I am.  It's Small Town, USA at its finest, very low COL, great people, low crime, strong sense of community, we experience all the seasons (which I love), we're safe from most major natural disasters and this is where the biggest part of our family lives, which is important to us.
I'm with you, but in western PA instead of eastern OH.

limeandpepper

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Re: If instantly FI would you stay in your current area?
« Reply #28 on: August 12, 2013, 09:52:39 AM »
I voted "not sure". I love where I currently live, but if I am instantly FI now I'd quit my job, take a few months to relax and sort out my stuff and plan and prepare, then travel around the world. I might like to keep it as a home base, or come back eventually, though.

ace1224

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Re: If instantly FI would you stay in your current area?
« Reply #29 on: August 12, 2013, 10:02:30 AM »
no.  my whole family is here as well as my boyfriends whole family.  i could never live not close to my parents.  maybe if they moved.

BZB

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Re: If instantly FI would you stay in your current area?
« Reply #30 on: August 12, 2013, 12:41:24 PM »
I would move. I want to live somewhere with milder summers and maybe a chance of snow in the winter. Also I want to be closer to state parks and camping.

Gen Y Finance Journey

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Re: If instantly FI would you stay in your current area?
« Reply #31 on: August 12, 2013, 12:59:37 PM »
This is a fun one for me, since I live in one of the highest COL areas in the US. All of our family and friends are here, so my fiance and I would definitely stay put if we were immediately FI. However, since the likelihood of winning the lottery is basically zero and we'll have to work to hit FI, we will almost certainly move to a lower COL area where we can hit it sooner.

michael

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Re: If instantly FI would you stay in your current area?
« Reply #32 on: August 12, 2013, 01:25:26 PM »
This is a fun one for me, since I live in one of the highest COL areas in the US. All of our family and friends are here, so my fiance and I would definitely stay put if we were immediately FI. However, since the likelihood of winning the lottery is basically zero and we'll have to work to hit FI, we will almost certainly move to a lower COL area where we can hit it sooner.

Almost the same for me, too. If instantly FI, I would probably move to north or south of the Bay in particular, to keep the family close but exist in a lower CoL and less traffic-heavy region.

Eric

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Re: If instantly FI would you stay in your current area?
« Reply #33 on: August 12, 2013, 01:38:46 PM »
This is a fun one for me, since I live in one of the highest COL areas in the US. All of our family and friends are here, so my fiance and I would definitely stay put if we were immediately FI. However, since the likelihood of winning the lottery is basically zero and we'll have to work to hit FI, we will almost certainly move to a lower COL area where we can hit it sooner.

Almost the same for me, too. If instantly FI, I would probably move to north or south of the Bay in particular, to keep the family close but exist in a lower CoL and less traffic-heavy region.

Same here, except for the family part.  I love the Bay Area.  I spend lots of my time trying to figure out where I will move to once I hit FI.  If you told me I could be FI here, then I would jump at that chance.  However, the high COL doesn't really mesh with becoming FI the old fashioned way. 

Albert

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Re: If instantly FI would you stay in your current area?
« Reply #34 on: August 12, 2013, 03:08:03 PM »
I hear from several posters that they would like to travel around the world when FI. I wonder how much you have done it already. I spend a month or so on it every year (not counting business trips). It's fun for sure, but after some time it becomes tiring. I wouldn't feel happy doing it for half a year let alone all the time.

I could live like a king in my home town with 20k a year provided I own my residence (no rent or a mortgage). Here I'd either have nowhere to live or not enough to eat for that little...
« Last Edit: August 12, 2013, 03:31:30 PM by Albert »

GreenGuava

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Re: If instantly FI would you stay in your current area?
« Reply #35 on: August 12, 2013, 03:21:50 PM »
Depends on what you mean by "current area."

For various reasons, I live in Los Angeles.  Do I plan to stay there when it isn't necessary for employment purposes?  Probably not.

However, three of my top four choices of where I plan to live in the future are in Southern California - Irvine, San Diego, and Palm Springs (the fourth is Phoenix, Arizona).  Some people would consider Irvine and/or Palm Springs to be in the "Los Angeles area" (I've even heard San Diego described as such). 

impaire

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Re: If instantly FI would you stay in your current area?
« Reply #36 on: August 12, 2013, 03:28:39 PM »
I hear from several posters that they would like to travel around the world when FI. I wonder how much you have done it already.

Quite a bit. I worked a pan-European job in my 20s, and I also traveled regularly in my free time (5-8 weeks of vacation, a good salary, and a travel itch to scratch). I loved it then.
Then I moved to the US and met my husband. My personal travel time became heavily constrained (3 weeks of vacation, some of which had to be dedicated to seeing my family, leaving little money/time for other trips). It may also have been that I was getting older, or that I had a stronger reasons to want to stay home, but  the travel became more tiring and less rewarding.
I am hoping to recapture some of the travel magic of yesteryear at FI, but I don't think all travel all the time is for me anymore. I haven't lived anywhere for more than 2 years for the past decade, and I am ready to find a place I can call home. So perhaps not so different from your experience!

arebelspy

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Re: If instantly FI would you stay in your current area?
« Reply #37 on: August 12, 2013, 03:32:59 PM »
I hear from several posters that they would like to travel around the world when FI. I wonder how much you have done it already. I spend a month or so on it every year (not counting business trips). It's fun for sure, but after some time it becomes tiring. I wouldn't feel happy doing it for half a year let alone all the time.

I could live like a king in my home town with 20k a year provided I own my residence (no rent or a mortgage). Here I'd either have nowhere to live or not enough to eat for that little...

Some, not a lot.  Longest stretch was just over two months backpacking through Europe.

We're targeting a plan to live in an area for 3-6 months (and rent an apartment there, not stay in hotels), then move to a new one. Sounds like a fun way to see the world while still getting time to know the local culture.
I am a former teacher who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and am now settled with three kids.
If you want to know more about me, this Business Insider profile tells the story pretty well.
I (rarely) blog at AdventuringAlong.com. Check out the Now page to see what I'm up to currently.

steveo

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Re: If instantly FI would you stay in your current area?
« Reply #38 on: August 12, 2013, 03:35:59 PM »
Not only will I not move, I have every intention of travelling as little as possible when I stop working.  I'll be happy if I never take another flight abroad.  We have a vacation house in a different area of the province and that is about as far as I intend to go.  I've been everywhere I'd like to go and I don't feel like I'm missing out on anything.

I like this attitude. I've never really travelled and I may when I retire however I don't really want to do a lot of travelling.

Albert

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Re: If instantly FI would you stay in your current area?
« Reply #39 on: August 12, 2013, 03:42:39 PM »
We're targeting a plan to live in an area for 3-6 months (and rent an apartment there, not stay in hotels), then move to a new one. Sounds like a fun way to see the world while still getting time to know the local culture.

That's different and I can't comment on it too much since I'm not retired and thus have never had that much free time. And of course some people never get tired of it, maybe you are one of them. There might be trouble with visas for staying that long in any specific country, though.

arebelspy

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Re: If instantly FI would you stay in your current area?
« Reply #40 on: August 12, 2013, 03:46:41 PM »
We're targeting a plan to live in an area for 3-6 months (and rent an apartment there, not stay in hotels), then move to a new one. Sounds like a fun way to see the world while still getting time to know the local culture.

That's different and I can't comment on it too much since I'm not retired and thus have never had that much free time. And of course some people never get tired of it, maybe you are one of them. There might be trouble with visas for staying that long in any specific country, though.

Sure.  From what I understand, most countries will let you stay 90 days on a tourist visa with little to no hassle at all, and we can target areas we like to get visas to stay longer.

We'll eventually settle down somewhere, but spending 5 or 10 years slow traveling the world sounds like a fun FI adventure to us.  Much better than random "vacations" that last a week or two and where you can't get to see everything you wanted to see.  Different strokes.
I am a former teacher who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and am now settled with three kids.
If you want to know more about me, this Business Insider profile tells the story pretty well.
I (rarely) blog at AdventuringAlong.com. Check out the Now page to see what I'm up to currently.

seattlecyclone

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Re: If instantly FI would you stay in your current area?
« Reply #41 on: August 12, 2013, 03:53:44 PM »
We live in Seattle and love it. We're planning to stay here indefinitely. If that means working a little longer before we hit FI, then so be it.

Albert

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Re: If instantly FI would you stay in your current area?
« Reply #42 on: August 12, 2013, 03:53:58 PM »
We'll eventually settle down somewhere, but spending 5 or 10 years slow traveling the world sounds like a fun FI adventure to us.  Much better than random "vacations" that last a week or two and where you can't get to see everything you wanted to see. Different strokes.

Possibly, but while we are still working a week here and two weeks there is all we have time for. Still much better than having not even that much! Funnily enough tomorrow will be my first day back at work after 3 1/2 weeks of vacation spent mostly on seeing family but also a bit of "random" short distance travel. Now time to become productive again, I guess...

AlmostIndependent

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Re: If instantly FI would you stay in your current area?
« Reply #43 on: August 12, 2013, 04:04:37 PM »
For some reason I always find it harder to go back to work the longer I've been gone.

jazzykys

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Re: If instantly FI would you stay in your current area?
« Reply #44 on: August 12, 2013, 06:45:22 PM »
In 3-5 yrs, I will be a snowbird.  Leave Chi-town in January and return in April.  Where will I go? 
A different warm tropical place each year.:-)

sol

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Re: If instantly FI would you stay in your current area?
« Reply #45 on: August 12, 2013, 07:06:54 PM »
We'll probably snowbird between the PNW and somewheres tropical.

liquidbanana

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Re: If instantly FI would you stay in your current area?
« Reply #46 on: August 12, 2013, 10:46:26 PM »
I'd move. I'm only here because of employment. I'd probably only move about 30 miles away, though, to a touristy town that is a lot more liberal (I am non-religious, but in the bible belt). I used to live in said town, but moved because jobs were almost non-existent, and I wasn't going to commute 30 miles.

Or I would possibly move to Ireland. The main thing keeping me from moving there now is employment.
« Last Edit: August 12, 2013, 10:49:50 PM by liquidbanana »

psu256

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Re: If instantly FI would you stay in your current area?
« Reply #47 on: August 13, 2013, 06:36:53 AM »
Wow, I must be the only person here that really likes where I live... I have a great karate school I attend, and the guy in charge of the church choir is super-talented... I have too much outside of work going for me to want to leave!

arebelspy

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Re: If instantly FI would you stay in your current area?
« Reply #48 on: August 13, 2013, 06:59:45 AM »
Wow, I must be the only person here that really likes where I live...

According to the poll, staying in one's current area is the most common choice.

People who want to leave are probably just more vocal.  ;)
I am a former teacher who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and am now settled with three kids.
If you want to know more about me, this Business Insider profile tells the story pretty well.
I (rarely) blog at AdventuringAlong.com. Check out the Now page to see what I'm up to currently.

Dr.Vibrissae

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Re: If instantly FI would you stay in your current area?
« Reply #49 on: August 13, 2013, 07:07:04 AM »
Where I live, it is not horrible.  It's low COL, not too big, the people are nice, and I get to participate in college football tail-gating to the max, but I won't stay here.  We're here for school, and while I enjoy the program and people, I hate the weather, I hate the pitiful things they call trees, and I hate being so far from any kind of family.

I'm pragmatic enough to enjoy it while it's going on, and I'd probably even stay longer if i get offered a job at the end, but if I became FI tomorrow I'd be planning my move by the afternoon.

 

Wow, a phone plan for fifteen bucks!