Pre-warning, this is a big post because there is a lot of information to process.
My American wife (23) and I (28) have been living in the UK for almost 4 years and we have now started the move back to the USA. My wife has returned to set up roots again, living with her Father rent free until she has a job. Currently has 6 scheduled interviews, she is also studying for a business degree and will be finishing end of 2020. I am qualified for Health & Safety under UK Legislation earning £23.500 + over time.
Necessary Details
- We have recently sold my Wifes UK car and have £4,700/$6,000 towards a USA car as a straight transfer.
- I owe a debt on my UK car in the form of a balloon payment of £3,500/$4533 on my UK car before leaving.
- Education fund will expire and we may need to fund the last 2 semesters.
- Converted, we currently have $25,595 in savings or £20,000.
- I will move over to the USA within 8-11 months pending approval of immigration (Shouldn't ever be an issue, clear record, qualified, easy marriage proof and have an immigration attorney with a fantastic record etc)
- There is £840 / $1088 outstanding as credit card debt. (Monthly payment active at £100 a month)
- We have an expected £10,000 / $12,961 gift that strictly is to be put towards a house. Waiting to be confirmed, but verbally agreed.
- We may have £1000 / $1296 in remaining assets, such as tech devices and furniture. This is a rough estimate.
Realistic short term Goals
- To own a 3 bed 2 bath house in Southern Georgia, the median average house price for the zip code is $252,000.
- To start a family, in hopes of 2 children.
- To start with 2 vehicles that are reliable/economical for a few years, in expectancy to upgrade one to a family orientated car, once conceived.
- Pursue a career that allows for a relaxed lifestyle (9 -5 work hours) that pays the bills and allows family time. Pension to consider for retirement.
Long term Goals
- To pay off a mortgage asap for an easier later stage in life.
- Potentially own a car of $30k value that has been my ambition for years
- Start an education fund for future children
Question 1, before the move.
Given this information above, is there anything I SHOULD be doing right now that will better prepare for the move. I am worried that I am missing something drastically obvious that will put us or our savings at risk.
Question 2, once moved.
What financial products should we look at investing in to help achieve our short term goals?
For anyone that takes time out of their day to address even one of these points, thank you, you are truly a good person.
Submitted May 14, 2019 at 08:19AM by MrArkrath http://bit.ly/2JGtFN1
