Thinking of moving without a job in a few months

[retireatbirth]

I'm in my mid-30s and will have almost $300k saved up in about 3 months. The problem is I hate my job and I don't like this city. I want to move back where I was before (NYC). I'm getting almost no bites on my resume and I'm not too optimistic given there are so many highly qualified people in NYC anyways so why would they fly someone in unless it was a C-level type job. Of course it's still messing with my confidence of whether or not I'd be able to find a job once I get there.

My plan would be to commit to about a 6-month rental in a lower cost part of the region and try to find something. Frankly, I could use a few months off from work and have plans to self-study some things during that time. My fear is I don't find anything though.

Another thing I've discovered over the last few years is that I actually like working now when I'm working with cool colleagues and doing work that interests me. I had that at my prior job so I don't know why I left. I just hate it when I'm stuck in crappy jobs like I have now. This all makes me lean more towards just making this move and not giving a damn if I end up down $30k since I'm not aiming to retire by 40 anymore.

I'm also a bit concerned about the timing of this since we're just waiting for a market correction. Would really suck to be unemployed when that happens.

Any advice?

[ixtap]

1) Everybody has been waiting for a market correction for at least two years. Don't plan your life around your crystal ball.

2) Why did you give up your previous job? It sounds like you suffer from ennui and will be switching jobs several more times in your life. I understand, I am on my third career, not counting the time spent in grad school for the second career.

4) Why can't you start your self study where you are?

3) How low can you go? Have you worked out your expenses in NYC? Is $300k good enough for five years? six? ten?

[Ocinfo]

There's no real financial reason to not do it, especially if you're comitted to keep costs low. However, I'm generally (and have given this advice before) of the opinion that one should be pulled to a high cost area. In other words, have a job that brings you there. You didn't mention what it is you do so that's another factor.  Are you going to get a $150k+ job that is unusual in most other places or are you going after a run of the mill position that is available in any mid size or larger city?


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[retireatbirth]

There's no real financial reason to not do it, especially if you're comitted to keep costs low. However, I'm generally (and have given this advice before) of the opinion that one should be pulled to a high cost area. In other words, have a job that brings you there. You didn't mention what it is you do so that's another factor.  Are you going to get a $150k+ job that is unusual in most other places or are you going after a run of the mill position that is available in any mid size or larger city?


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My total comp for my current job and jobs I get considered for is usually in the ball park of $110k to $130k. I might start considering startups so could go as low as $90k I would guess. These options generally only exist in major cities like NYC, DC, Boston, etc. and not where I am now. Even the low end here is well above my expenses (roughly $40k/yr in NYC). With my rising assets, I'm starting to think less about salary and more about job fit since the market should help me out long term.

[retireatbirth]

1) Everybody has been waiting for a market correction for at least two years. Don't plan your life around your crystal ball.

2) Why did you give up your previous job? It sounds like you suffer from ennui and will be switching jobs several more times in your life. I understand, I am on my third career, not counting the time spent in grad school for the second career.

4) Why can't you start your self study where you are?

3) How low can you go? Have you worked out your expenses in NYC? Is $300k good enough for five years? six? ten?

1. Good poin

2. Yes, I know. I tend to take 2 steps forward, 1 step back, and switch directions at the same time.

3. $40k/yr expenses in NYC so I could survive about 7 years unemployed lol. I think I'd give up by year 6. (edit: have not thought about healthcare yet since I'd be unemployed)

4. I am self studying. It's just an idea to give myself something to do and have a reasonable explanation to employers beyond just not liking the job I left.

[Ocinfo]

There's no real financial reason to not do it, especially if you're comitted to keep costs low. However, I'm generally (and have given this advice before) of the opinion that one should be pulled to a high cost area. In other words, have a job that brings you there. You didn't mention what it is you do so that's another factor.  Are you going to get a $150k+ job that is unusual in most other places or are you going after a run of the mill position that is available in any mid size or larger city?


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My total comp for my current job and jobs I get considered for is usually in the ball park of $110k to $130k. I might start considering startups so could go as low as $90k I would guess. These options generally only exist in major cities like NYC, DC, Boston, etc. and not where I am now. Even the low end here is well above my expenses (roughly $40k/yr in NYC). With my rising assets, I'm starting to think less about salary and more about job fit since the market should help me out long term.

This isn't a financial decision so do what makes you happy. You have a good FU fund, reasonable employment prospects, and low expenses. I would possibly suggest expanding your job search to some of those other large cities for a month or two unless you're dead set on NY (family in the area, etc...).


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[Josiecat]

Try to secure a contracting job or temp position.  That will at least be a good reason to move.  Then you can take your time finding something permanent.