Hi Folks,
My huz and I are debating a life change, and I was hoping to get some perspective from you frugal folks, as I am trying to frame this (amongst other ways) as a financial question. But as we know, our main goal here at MMM is not early retirement for the sake of it, but to live our most fulfilled life. So, without further ado-
We currently live in Burlington, VT. I am a PT and Dave is a chemist. I have a great job opportunity to move to Telluride CO where I would basically be working my dream job, as a PT at the base of the ski resort. Dave would not be so lucky, and would probably need to do ski resort type jobs unless he got really lucky. I would estimate our income to be what it is right now, combined 90,000-100,000 pre tax.
We are working on our frugality, and generally have expenses of $1,000/month + housing costs. We currently own our house with about $60,000 in equity. We have about $150,000 in a 401 K, and I have about 18,000 left from over $100,000 in student loan debt (killed it in 3.5 years-yeah!) Our current life plan is to boost up our 401 K as we have killed my student loans (contributing about $3,000/month) until we hit 350,000, at which point we'll let it grow as we start to cut back on work, or my husband can find a more fulfilling job and I can work a bit less. I was hoping this would take us 4-5 years. We can continue to contribute but at a smaller rate with less work.
So this brings us to Telluride- our dream is to live in a ski resort, have free access to skiing (through part time work at the resort) and play in our free time. Moving to Telluride NOW could get us part of that lifestyle now, even thought we would not be working part time now, or possibly for a long time.
Two things I am wondering-
Would it make sense to downsize our stuff to fit in a small space (I've been dreaming about a tiny house anyways) where we can have $1000-$1500/month rent, continue to save at our current rate, but just not own a house? Does not owning a house for 10-15 years make sense if your other option is ridiculously overpriced housing? This could get us to our financial goals, although without the "paid off house" part of things. We may eventually inherit my In-Laws condo in Steamboat Springs, and that could take care of our need for housing when we retire.
Is it just a horrible idea to move to a crazy expensive ski resort, if you are trying to achieve FI, even though the rest of it is your dream life? I don't want to get there to be in a financial hole or rat race, but if it could work out it would be GREAT.
I'm just seeking perspective here, so any thoughts would be helpful!