Some financial info first:
I’m 40 years old, live in the suburbs of MCOL area in California, and make $65k a year working in education. I have $135,000 in retirement savings, 10k in personal savings, and no debt.
I just wrapped up a divorce, and the sale on our house is closing in two weeks. I should be receiving about 60k from my share of the equity.
My take home pay is approximately $3500 a month after deductions for taxes, benefits, and 10% towards the 401k.
I have a paid off car, live 5 miles from my office, and generally had a quiet lifestyle with a few inexpensive hobbies. Never had issues living within my means or having savings left at the end of the month.
So, the question is...now what?
First option: A 1 bedroom apartment in the area with similar commute time and decent amenities runs between $1600 to $1700.
Option 2: 1 bedroom apartment 40-45 minutes away, no washer dryer, unupgraded furnishings, not great neighborhood for $1300-$1400.
Option 3: Get a roommate. Don’t really want to share my space or life with someone else, especially at the age of 40. Just reminds me of all those divorced dad stereotypes on TV. But suppose it could be an option.
Option 4: Buy a condo. Little leery of this, as already had a lot of changes this year, and might be better to hold off for a while until I have a clearer idea of future plans.
I’m leaning towards option #1, but not sure if it’s affordable in the long term. Should I go live someplace nice this first year, and look to buy later on? Or accept the longer commute, and try to save as much as possible?
Submitted May 16, 2019 at 04:18PM by Deanoftheday http://bit.ly/2Q75Xe8
