Author Topic: Status Quo or New Jobs  (Read 1130 times)

mobileagent

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Status Quo or New Jobs
« on: December 02, 2017, 04:25:42 PM »
Hoping for some good advice from this forum on our situation. We live in a HCOL area with a high income and a paid off home. There are plenty of jobs that pay well in our area and I regularly get pursued by recruiters and my network for new roles. However, I no longer have the same drive to take high stress and higher payout jobs as when I was younger. I am not getting the same motivation to increase my income and I rather stay in a relatively comfortable & familiar job (while still making great money) with 4 weeks of vacation, shorter commute, and great benefits. Start up roles with potential huge payoff are also not that interesting to me anymore.

Our goal is to relocate to a LCOL area after our kids leave for college, which will happen in 10 years. Our assets are sufficient for us to be financially independent even now if we relocate to a LCOL area, but we would like to stay in the current area for next 10 years due to great schools and community, while accumulating more assets. Perhaps I am getting older, but my tolerance and motivation for putting 80 hours a week is getting lower. I rather have relaxing evening and weekends, than additional 20%-40% income. Are there others who feel like me?

Background
Me: 43; Spouse: 39; Kids: 12 and 9
Single income, $400K+
US Assets: $2.5M (home equity $1.3M and investments $1.2M); International Assets: $650K; Total: $3.15M
Annual expenses: $60K-$80K

Thanks for any suggestions or feedback on what would you do in my situation.

mobileagent

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Re: Status Quo or New Jobs
« Reply #1 on: December 02, 2017, 06:16:52 PM »
We have about $500K in taxable accounts and $700K in retirement accounts (401K/IRA/Roth). The international assets are in real estate that we plan to liquidate in 10 years or when needed. You are right that we can either scale back by doing a part time/consulting gig while staying in the current home or move to a LCOL area immediately for FIRE. I haven't yet found a strong reason to RE now and I find it difficult to walk away from $400K+ income. However, my tolerance level for BS at work is getting lower and I am able stand by my positions and also take roles that are more interesting as I don't care as much about the rat race. My thinking might change in a few years based on how the net worth changes. Thanks for the feedback.