I've heard and read about how quality of life doesn't improve with money over $70kish.... and I think about that a lot.
I currently earn about $125k, and my wife earns about $55k. We are both 35 years old. We have about $75k in retirement, $30k in savings, and $120k in home equity. We have one car payment of $400 a month, and mortgage is $1900 a month. No credit card debt, no student loan debt, no kids. We both put 10% into 401k.
The issue is, we only have 1 day off a week together, and we don't really like the city we live in. Our jobs are very specialized, and she would not be able to do the same job in another city. I would be able to, but at a much lower salary ($80-90k). I'm sure she could find a job in a different city, but it won't be near that $55k mark she's at now.
We are very active and enjoy traveling and exploring. It is very difficult right now due to only having 1 day off a week together. If I were to take the other job, I'd be working a 7/7 schedule, which would completely change our lifestyle and allow us to get out and do what we really like.
Right now, we make more than we need. As enticing as it sounds to work 26 weeks a year, it's awfully scary to think of making $100k less than we make now. We live very comfortably right now and don't really have to worry about anything. I do think we could live on $80-100k no problem, I just worry about delaying our retirement, or having a lot less in our retirement acct when we actually do.
Who else has made the leap and what advice would you give?
Thank you
Submitted August 12, 2018 at 06:29PM by uzj40 https://ift.tt/2B6XDHC
