Greetings fellow Mustachians,
My wife and I own a single family home in Toronto, that is nearly paid off. We've done well with our investments too, so I figure after selling in Toronto and moving to a LCOL area, we could buy a nice house for cash and have around $2.5 million on which to retire which if you use the 4% rule, would leave us $100k gross per year, more than enough to live comfortably. We just had a baby as well, so like MMM, I dream of spending time with her, doing cool stuff. I told her I have 5 more years left, then I'm done with the corporate world. I am 47, she is 40.
The wife loves the house, and Toronto in general, but how do I convince her that we are giving up our valuable time, by staying there and not using the equity in the house to generate income. I grew up in a small town, so moving to a LCOL area is actually appealing to me, she's always lived in big cities and fears there will nothing to do.
Anyone had a similar situation?