"This indecision's bugging me...
...esta indecision me molesta"
The situation:
Should I stay here in SoCal and finish 1.5 years of school in order to become a refrigeration mechanic, or throw it in the wind and start over in Washington State as a warehouse loader making similar money with half the expenses, possibly saving enough to buy a house (but not retire especially early)
TL;DR pro/cons at bottom
Apologies if the thread's kind of messy. I'm juggling multiple life decisions here and have multiple issues going on, writing it all out is kind of helping out my thought process already though. Thanks for reading.
Currently making decent money as a warehouse loader at a major beverage company.
55k/year (am currently at 50k per year till next week), good benefits (though no 401k match due to idiot union)
Rent taking up nearly 60% of my take home pay. Rent very high here, currently paying $1605 (includes pet rent for 2 dogs which limits our options by the way) for 1 bed/1 bath, downstairs, 775 square feet. Downstairs and roomy kind of needed for baby and two dogs. This is Orange County, CA by the way.
Am burning through money faster than I can make it. I have drained cash reserves, cash gifts from family, and am running on empty here. I'm due a large bump in pay which will bring relief, but still not going to get ahead.
SO staying home to take care of baby (6 months old). No trustworthy family or friends can help here, though she eventually wants to go back to work. For time being SAHM.
We have low expenses other than rent and "going out" (mostly Little Ceasars, lol) and will probably break even once I get my pay bump. No cable/dish, Republic Wireless Cell, 5 mile commute (hell yes).
Problem is we will not be "getting ahead" at all. Savings right now is non-existent. Have paused all retirement contributions (401k contributions now going to pay down 401k loan, ugh). Rent is going up on average 5-6% a year. Cheaper apartments are smaller, more dangerous areas, way further away.
Why it's hard:
Even though family and friends aren't especially close, it's comfortable here, nice weather, lots of stuff for us to do when baby gets older. Seeing grandparents a few times a month is nice. SoCal is diverse as hell, accepting, and politically ok for us-we're hispanic and enjoy all this area has to offer.
Refrigeration mechanics aren't making much more than I currently am as a warehouse loader. It's simply a career I have more options should my company take a dump (not likely, but sugar taxes have had affects at other locations, namely Philadelphia) or figure out how to automate. Refrigeration, HVAC, electrical and mechanical has lots of opportunity career-wise, at the cost of time with my new family as I go to school. I feel like I'm losing out on saving money for a job that's not going to allow me to make much (if any more) money.
My main goal isn't to retire in 10 years, it's to be financially secure. I want a house, I want a good savings rate. I feel sacrificing $5000 a year (probably a bit less since no income tax) in order to pay half the rent I am paying now and be able to purchase a house. I feel the opportunity to buy a house is closing quickly with interest rates going up, and desirable places to live edging up in price. It's a matter of time before I'm priced out of where I want to go.
I have zero dollars saved currently, and am running balances on credit cards. This is hair on fire problem...
Stay Pros:
Friends/Family/stuff to do plentiful (good for baby)
Get certificates in refrigeration, more job opportunities
Stay Cons:
Fall deeper in debt
Never get a house
Go Pros:
Save more money
Get house
Nice scenery
Less costs, less stress
Go Cons:
Away from family
Less diversity/fun stuff
Might lose job to automation (though this is less likely than I once thought)