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re: What state would you least want to live in?
Posted on 2/20/15 at 12:25 am to nolanola
Posted on 2/20/15 at 12:25 am to nolanola
quote:
Do you not understand cost of living?
Nurses in California are probably living a better lifestyle (in general) than nurses in Louisiana. You probably need an extra $10k pre-tax income just to compensate for the taxes and then an extra $12k for each $100k worth of house you plan on buying. So, if your family makes $70k more then you can get a $700k home in California instead of a $200k home in Louisiana.
Best part: you get to cash out that equity later in life if you decide to retire somewhere cheaper. Neighbor behind me was a plumber in the bay area. He retired at 55 and now owns a 5,000 sqft home here in Louisiana completely paid for. Big pool, tennis court, boat, etc. I'm not convinced that he would have been better off if he worked in Louisiana instead.
1
Posted on 2/20/15 at 12:31 am to Asgard Device
quote:
Best part: you get to cash out that equity later in life if you decide to retire somewhere cheaper.
You need to factor in the opportunity cost of that money along the way so the equity argument isn't all that sound to me. Also ask people who got hit by the housing bubble if this plan worked well for them.
This post was edited on 2/20/15 at 12:33 am
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