Will an Upcoming Move Set Us Back Financially?

Will a move from California to the Pacific Northwest set us back financially? Have a money question? Email us ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ https://www.jillonmoney.com/contact Subscribe to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Jill on Money Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ https://www.jillonmoney.com/newsletter/substack YouTube: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@jillonmoney⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ https://www.youtube.com/c/JillSchlesinger Instagram: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@jillonmoney⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ https://www.instagram.com/jillonmoney "Jill on Money" theme music is by Joel Goodman, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.joelgoodman.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ http://www.joelgoodman.com/.

• 0:03Speaker 00

  Welcome to the Jill on Money Show. It's Wednesday, November 4th, and we are here trying to provide you with unconventional and hopefully entertaining insights on your money and your life. We are here to serve you, and the you is the most important, not we, even though Mark and I are both certified financial planners. We really rely on you to get in touch with us with whatever it is you're thinking about financially. So if you've got a question, you're maybe thinking about a new job, maybe you're thinking about early retirement, or a reset of your career, or you're trying to figure out how to buy a house, sell a house, maybe you're trying to figure out how to talk to your aging parents about their money situation, get in touch with us. Go to jillonthemoney.com, click the Contact Us button, write us a note.

• 0:48Speaker 00

  If you'd like to join us on the air live, just check the box. Mark will do everything else. Today, we are joined by Ashley and Brian in California. Hello, you two. How are you?

• 0:59Speaker 01

  Good morning, Jill.

• 1:00Speaker 02

  Good morning. Doing great.

• 1:01Speaker 00

  Fantastic. What can we do for you?

• 1:05Speaker 01

  Brian asked me to start, so we'll keep it concise. We're doing it. We've talked about it. We tried it last year and pulled back from the idea, but it's our big move. We're getting out of California and moving to the Pacific Northwest. We're doing it.

• 1:21Speaker 00

  Okay, you're making the trade. You're selling California, you're buying Pacific Northwest. All right. How old are you guys?

• 1:29Speaker 01

  I'm 42.

• 1:30Speaker 02

  I'm 53.

• 1:31Speaker 00

  And is this a dream? Are you moving towards family? Are you just sick of California? What's prompting this?

• 1:38Speaker 02

  Moving towards family and also a dream. I've wanted to live in, I won't specify where, but in this portion of the beautiful high desert of the Pacific Northwest for many years, and just never worked in terms of timing and the right job. And the right job came up for Ashley this year. It's the perfect job. She's, as we said, 11 years younger than me, so my horizon to retirement is sooner. So I really encouraged her to go for this job, and she got it very quickly.

• 2:08Speaker 00

  Amazing. Congratulations.

• 2:09Speaker 01

  Thank you. So excited.

• 2:11Speaker 00

  When do you start?

• 2:12Speaker 01

  February.

• 2:14Speaker 00

  Okay. And how much does a new job pay?

• 2:16Speaker 01

  182 with a potential for daily overtime if I want to pick up an extra shift here or there.

• 2:23Speaker 00

  Okay. Are you a nurse?

• 2:24Speaker 01

  We are physician assistants, both of us.

• 2:28Speaker 00

  All right. PAs. I was just talking to somebody about, is there a shortage of PAs still?

• 2:33Speaker 01

  Oh, gosh, I don't feel like it.

• 2:35Speaker 02

  No, there's probably, there's more people waiting to get into PA schools than anything else. There's not enough seats for the number of people who would like to become PAs, which on the backside, it can, you know, it creates a highly competitive market for jobs. So that's why when this job became available for Ashley, I said, go for it. And I'm gonna, to add to it, I'm gonna stay where I am in California and continue to work, but I only work 12 shifts a month. So I will be going back and forth.

• 3:07Speaker 00

  Oh, my God, that sounds terrible. Okay. How much do you make?

• 3:11Speaker 02

  286 without overtime. Yeah, exactly.

• 3:18Speaker 00

  Do you guys own in California, or do you rent?

• 3:22Speaker 01

  We rent.

• 3:23Speaker 00

  Okay. What's your rent in California?

• 3:25Speaker 01

  All in, it's about 4,500. Or is it 5,000? It's close to 5,000. All in 5,000.

• 3:33Speaker 00

  And are you gonna rent again to start off in the Pacific Northwest?

• 3:38Speaker 02

  Well, we went for it, and we bought a house.

• 3:41Speaker 00

  Oh, my God. They did this behind our backs.

• 3:44Speaker 01

  They did.

• 3:45Speaker 00

  Tell us about the house. How much did you pay for it?

• 3:48Speaker 01

  Well, Brian was really great, and he waited. The house we saw about two months ago, and it dropped, and then it dropped again, and prices are really high. So they dropped at 50,000, but then they offered 25,000 of concessions. So we are, the selling price, the purchase price is 640.

• 4:08Speaker 02

  Yeah, 640, and then $25,000 in seller's concessions, which we have partially applied to closing costs, and then partially applied to a two-year rate buydown. It's not an ARM, it's just a two-year monthly buydown of the mortgage payment. And then at month 25, it'll go up by about $200 a month for the life of the loan.

• 4:30Speaker 01

  But purchase price is 640. We put 350,000 down.

• 4:36Speaker 00

  Wow.

• 4:37Speaker 01

  Yeah, we were really lucky to be able to save. And so our loan will be 290,000 at 6.8% for the first two years, bumping up to 7.3 for the next 28.

• 4:53Speaker 00

  Sounds so, I mean, because it's a small, smaller mortgage amount outstanding, the actual payment you guys can afford on your combined salaries, right?

• 5:03Speaker 01

  Completely. 2,500 bucks a month, all in, taxes, insurance.

• 5:07Speaker 00

  No way, really?

• 5:08Speaker 01

  Yeah, that's why we pulled the trigger, because the rent up there for what we want is about 3,000 a month for a two-bed, two-bath, which we don't have, but you know, we're getting older, and if Brian is going to be working from home, potentially, you know, he wants the office space separate from the bedroom space. And so, you know, we're gonna expand that, and it would be anywhere from 25 to 3,000 for rent. So we decided to just purchase.

• 5:33Speaker 00

  What a good lesson, just in terms of the idea that you're spooked by the housing market, but making these numbers work. I mean, listen, you guys are older, so you're able to save money, and you put so much money down, but like, $2,500 a month, you can afford, and it's cheaper than what you're paying now. So tell us about the other monies that you have saved. Do you have any money left over from that big down pay, after paying that down payment?

• 5:59Speaker 02

  Yes. About 705,000 in a 403B that I max contribute to through my current position, and they do an 11% match. Roth, 46,000. Brokerage, 288,000, of which some of the down payment will come out of. A 457B from a previous employer, that's 91,000. An HSA that's 8,500, and then a high-yield savings of about 4,000 a month, or $44,000 with 6,000 a month that I'm putting into that.

• 6:37Speaker 00

  Because you're trying to, you're trying to like, kind of beef it up after putting all that money down?

• 6:42Speaker 02

  Yeah, because the, yeah, so that we could just protect ours, rather than going into brokerage with the money weekly. I just thought, we decided to just protect it in the high-yield savings till we make the down payment. So the brokerage is 288,000.

• 6:57Speaker 01

  And that will, once we subtract the 175, it'll have about 110 left in it.

• 7:03Speaker 00

  All right, let's just say 110 in brokerage, because that's gonna be a done deal, right?

• 7:06Speaker 02

  Yeah, correct.

• 7:08Speaker 00

  So what about, so that was just for you, Brian. Ashley, do you have your own savings?

• 7:16Speaker 01

  You bet. So I, it's crazy, we're pretty evenly matched. So right now, I make 317,000, going down to 182, but currently I have that 11% match, and I do a full contribution to the Roth 403B. So my 403B has 750,000 Roth I have, and some of that's Roth, but let's just stick with the easy numbers. Roth is 63,000. HSA has 35,000. And then high-yield, which is my emergency fund, is 20,000. And my brokerage right now is 248, and it'll

• 7:56Speaker 01

  go down to that one, that 75K after our down payment. I do additional 4,000 to 6,000 contributions.

• 8:03Speaker 00

  You guys are animals. You're doing great.

• 8:06Speaker 02

  We try.

• 8:07Speaker 00

  Any kids from former relationships or together?

• 8:10Speaker 01

  No.

• 8:11Speaker 02

  No kids, no debt.

• 8:12Speaker 00

  Any pets?

• 8:14Speaker 02

  Yeah, we have a dog.

• 8:15Speaker 00

  All right. Well, that's very important. I encourage you to keep that love going.

• 8:20Speaker 01

  He's the coolest.

• 8:21Speaker 00

  Much cheaper than the.

• 8:24Speaker 01

  For sure.

• 8:25Speaker 00

  Although, not always. Okay, so what exactly is the question that we are trying to answer for you guys?

• 8:33Speaker 01

  You know, we've, we've just poured over the decision. Um, part of that was, we actually thought Brian's, um, income, he, he applied for a position in the Pacific Northwest, took it. Um, his employer offered to keep him. So we actually thought we were going to drop down to a household income of about 340, but we think we're actually going to be able to stay closer to that 500,000 mark, um, combined, which is crazy to think, but we were really scared about the numbers moving, you know, basically cutting our incomes in half. And now I think it looks doable, but it's really getting your eyes on Brian ultimately, hopefully sustains this arrangement to keep going back to California for at least two

• 9:18Speaker 01

  years. And then he wants to work in a ski shack or something cool, but you know, he's been working.

• 9:24Speaker 00

  So wait a second, in two years, what do you want to happen, Brian? In your words, please?

• 9:30Speaker 01

  Yeah.

• 9:32Speaker 02

  Um, it probably would be to not continue to, maybe two years is probably a little short. Um, and I will say, when I mentioned earlier that I worked 12 shifts a month, those won't all be in California. So I'll be splitting my time. So that's a bigger question that we're kind of wrestling with right now. We've run that scenario through the good old AI machine. And there's a lot of state tax implications in terms of proving geography when you're working. And then also both of them wanting their share of how, what percentage you work in their state physically at the time. So we are, and you can say this is

• 10:15Speaker 02

  a bad or good idea, going to consult a tax attorney to see exactly how to set up so that we're paying our fair share in both states and we don't get hit with a big tax bill, um, in the spring.

• 10:29Speaker 00

  I wait, as you were talking, uh, you can't see this. I have a, I, I do old school writing on a piece of paper. And I said, Brian, in two years, maybe not work full time. And then I wrote, need a CPA. So absolutely. You need a CPA just to set you up. Even if it's two years, let, I mean, I, let's go into ideally, ideally, you got your 12 shifts, you've paid your taxes. Do you want to, do you want to reduce your income in two years? Do you want to try to have a way that, I'm, I'm not saying what you, you don't have to choose what you're going to do, but would you like to have the opportunity, right, to say, I'm going from making three, I'm going to make a hundred or whatever it is. Is that what you hope to do?

• 11:14Speaker 02

  Yeah, that in some time horizon that, you know, two, three years, I would like to not, I would like to not have to make that much money if I don't need to. So.

• 11:23Speaker 00

  So then we're going to make Ashley work. Don't worry about it.

• 11:26Speaker 01

  Oh, I'm a, I'm a worker bee. Put me to work.

• 11:28Speaker 00

  There she did. How much do you guys spend on a month? I know you're not there yet, but, uh, about how much do you spend monthly?

• 11:37Speaker 01

  So we ran the numbers. We both spend about 6,000 a month now. That's rent, travel, fun, everything.

• 11:45Speaker 00

  Yep.

• 11:45Speaker 01

  His will go up because of his travel.

• 11:48Speaker 00

  Sure.

• 11:49Speaker 01

  To about 67 because we're cutting housing and adding travel. And for me, I, I will, and I put it on the higher end, go down to about 4,500 a month. So we're still looking at 10,200.

• 11:59Speaker 00

  Yeah, just say 12, 11, 12 grand. Let me, uh, bring on the wonderful Mark Talarseo, certified financial planner extraordinaire. Did you, uh, order your continuing, Ed? I paid my dues.

• 12:10Speaker 02

  I did.

• 12:11Speaker 00

  You're right. Okay. Very good. Now, Mark, given your magic calculator that you have in your hand, uh, I wanted, I hope you caught all these numbers, but these guys have a lot of money saved. And what is Brian's smartest thing ever? Marrying someone younger who's a workhorse. Okay. So they have, forget about the house. The house is a done deal. You're done, right? It's great. You can afford it. Okay. So, but you, let's just make sure I got all the numbers. So Brian has about 700 grand in his 403B, another 46,000 in a Roth, 110 in the brokerage after we do the house, 91,000 in a 457. And you're putting, uh, you got 44 grand in a high yield savings. I don't even think about the HSA. You'll

• 12:54Speaker 00

  spend that later. 44 grand in a high yield savings account. You're putting $6,000 a month in there. Great.

• 13:00Speaker 02

  Correct.

• 13:01Speaker 00

  Okay. Now, Ashley has a bunch of money in her 403B, 750 grand, Roth 63, uh, high yield savings. Was that 20 grand or 200 grand?

• 13:14Speaker 01

  35.

• 13:14Speaker 00

  Oh, 35 and, no, wait, 35 I thought was the HSA.

• 13:18Speaker 01

  Oh, yes. Apologies. Uh, 20K.

• 13:20Speaker 00

  20K in the high yield savings. Brokerage will be 75 after you pay for the house. And your new salary, you've gone from around 300 grand, you're going down, but it's a great job to 180. They spend about 12 grand a month. Brian is gonna just, he's gonna drop off the grid in two years. Instead of making his 280 or 300, whatever it is, it'll be like maybe a hundred for, I don't know, a few years. Let's not go crazy. They're gonna pay their taxes in both states. They're not gonna be Dodgers in that way. Mark, how do Ashley, oh, and Ashley, how long would you like to work? I know you're a workhorse, but for how long?

• 13:58Speaker 01

  You know, I, I see 55 and that puts Brian at 66, but the fun part is, I guess it's pretty variable based on our savings. Um, so I, I will get 55. I think 55 is very reasonable up to 60, knowing that Brian's 11 years older. So I can dip out anytime.

• 14:14Speaker 00

  You made a mistake. You should also have married someone younger. The key to life is marry a younger workhorse. How do you think Ashley and Brian have done with his dream of being in the rain of, I mean, the Pacific Northwest?

• 14:30Speaker 03

  Uh, I mean, yeah, financially, they're, they're, they're kicking ass. I mean, they're, they're where they, I don't even want to say where they should be. They're, they're doing great. They're going to be where they want, where they need to be in 10 years. They're going to have several million dollars at this current savings rate that they're on. Yeah, it's not a financial decision really. You know, you can hear they're a little bit of kind of nervous nellies, like, you know, going back and forth to California may get old, but that's not a long-term plan. It's just kind of a short-term plan. So yeah, they're doing great.

• 14:56Speaker 00

  I, I think everything is really good. I tell you what my big takeaway from this conversation is, that when you have some sort of financial goal, you say dream, but you know, moving to one part of the country, making a change, as long as you have the wherewithal to kind of save for that goal, I, I never would let, you know, your, the money part, I, I think it's very, um, I think what happens often is that you're like, oh, I don't want to take a big pay cut, but like you can take, like Ashley's going to take a pay cut and you're going to be where you want to be and everything works. So maybe net, net, dollar wise, you would have more money at age 70 and, uh, you know, 60 or

• 15:41Speaker 00

  59, and it wouldn't matter to me. You get to the place where you want to be, you've saved for this goal. Um, you were not deterred by high interest rates or a hot housing market. It's like, hey, this is what we want to do. We're going to give it a shot. And you know, listen, if you didn't make it and it didn't quite work out that way, you might make different decisions, but I think it's great.

• 16:03Speaker 01

  Some icing on the cake for me, when last year we tried to make this work, it didn't quite work, but that last year and a half, I mean, again, Mark, it's been up. We've capitalized on that. We've optimized our savings even more. And we've really, we really focused on that. So it's been to our advantage not to move a year and a half ago.

• 16:21Speaker 00

  Yeah.

• 16:21Speaker 01

  But the best part is when I applied to this job and it was like, oh, it's the perfect job, perfect sub-specialty for me, exactly what I want to do. They're going to rely on me to build their program. The best part is I went from five days a week to four days a week. So even more playtime than I, than I knew.

• 16:37Speaker 00

  Oh, that's incredible. So, uh, dreams do come true. You know, as they said, Mark, how about this for a little, um, random quote for you? As he said at the end of Willy Wonka and the Chocolate Factory, Willy Wonka says to Charlie, you know what happened to the boy who got everything he wished for? And the answer is, he lived happily ever after. How about that? So I hope you guys live happily ever after. Get in touch with us when you get there. If anything changes, we're here for you, but congratulations. It's an exciting time for you. And for those of you listening, if you are seeking some guidance about making a change like this, geographic change is so cool. Of course, if you're scared

• 17:21Speaker 00

  about doing it, maybe we can find a way to get you there. Just get in touch with us. Go to jillonthemoney.com, click the contact us button, write us a note. If you'd like to come on the air live, check the box. It's much more fun, especially in these kinds of stories, to be able to talk to you and ask you some follow-up questions. So please, please, we'll change your name if you're all shy. Don't worry about it. So get in touch with us. Hey, while you're on the website, don't forget, all of our content lives there. Our other show called Money Moves, you also can get a way to resources and my books. Everything is right there. You can subscribe to us on the Odyssey app or wherever you find your favorite podcasts. Please leave us a rating and review wherever you listen.

• 18:03Speaker 00

  Put your hands metaphorically on someone's back. Change your work, change your wealth, change your life. Thank you for listening and we'll talk to you tomorrow.