Hi guys, I mostly lurk but wanted to bounce this idea off you all.
My wife and I really enjoy surfing and diving. For the last few years we've been traveling to a beach that makes us really happy. So we are considering saving for a property there. We don't really have to commit ourselves yet, but because this would be non-IRA savings there are penalties to even planning for it.
What should I be considering that I'm not?
There are probably dozens of places we could chose, but where we are looking has: -a stable government with modest corruption -the last hurricane was in 1980 -five-hour flight from our current home ($600 per round trip) -Low, but existent tourist traffic -Adequate banking and insurance products
Us: -Married, not much desire for kids. -$125k in household income. -I love my job and would do it for free. My wife hates her job, but endures. -Low (but not zero) probability of relocation -We don't come close to maxing our 401ks. My wife gets no employer match so we don't bother. I get an insane match (5% for my employer's 10%) which I match. -I've calculated and re-calculated, at our current non-maxing 401k contribution rate we can retire at our current lifestyle at 65 for her and 72 for me. -Student loan and mortgage: $42k @ 4%, $250k @ 3.4% -$25k in emergency savings earning 3% -$70k in (beach house?) savings -No burning desire to change our lifestyle, we have a comfortable travel and entertainment budget -tip-top health -$100k each in term life insurance
Submitted September 18, 2017 at 08:11PM by HugoSwBoss http://ift.tt/2fwxl48
