Research the benefits of a Roth and also having that cash in an IRA brokerage or something. Most places offer tax free withdrawals on first time home purchases etc.

Probably a little late in the game for that as you will be buying now but think about that as you start to accumulate more cash when you get settled in.

Thats a lot of money to be sitting and doing nothing. You could pretty easily be getting 5-8% growth without a whole lot of activity using other financial vehicles.

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Posted by hungryone

river parishes

Member since Sep 2010

11987 posts

Posted on 6/18/15 at 11:11 am to STLhog

+1 on the need to educate yourself financially. books, a class, online stuff, a consultation with a paid (non-commission earning) financial advisor...all of these things would help you out. $100K sitting around could be working harder for you.

RE: Phoenix, not so sure it's the greatest move. Sure, you can buy more house...but it's a dang desert. You're moving to an environmentally unsustainable place, with deep cultural divisions. Practically everyone is a transplant, or an ex-Californian who was priced out of THAT real estate market. Huge housing bubble burst, I know people who lost 50% of their home value in the past decade and finally decided just to sell (after nearly a decade of waiting for rebound) rather than keep living in PHX. The city itself is huge & sprawling; consider your potential commute as hours of your life you'll never get back.

Don't let overvalued NOLA prices be the only factor in a lateral move. A 15 mile commute for cheaper prices outside the city may be a better idea than a cross-country move. (Unless you love the desert.)

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