Colorado Moving

[lBasket]

If you're basically drowning yourself in debt to the point of completely uprooting your life I'd say it's worth a look. Get some numbers on what consolidation would do in your case and see if it makes sense, don't dismiss it just because it "sounds terrible".

Not drowning, but more like it would be a very nice byproduct of moving.

If you have federal loans it looks like it'd be pretty easy and relatively painless to lengthen the term and maintain about the same average interest, lessening your monthly burden.

Private, this is what I see for starting rates for student loan consolidation

View attachment 694863

Here's SoFi's calculator
https://www.sofi.com/student-loan-refinancing-calculator/

It may not make sense when you look into it or it may give you some breathing room and allow you a lower minimum monthly payment that you could still pay off faster when cash is more available.

Juggling 5 loans and a mortgage doesn't look fun.

The problem with the private loans is if anything happens like COVID or job loss there is no forbearance of deferment option.

My mortgage guy talked me out of a 15yr when we bought, not because we shouldn't pay it as if we had a 15 year but it allows a bit more flexibility IF we ever needed it. I imagine the same thing could apply to consolidated student loans. You're going to stretch the timing back out a little, but if you pay like you are today, it gives a little more breathing room where you may not actually be in debt during that longer time horizon that the flexibility gets you.

Yeah paying extra on a 30y to payoff in 15y costs exactly the same as a 15y I think. So having the room if you need it probably nice. I guess I can think about that.

My projections for paying them all of is like 1-2.5y from now already so it's not like it's horrible. I just am impatient and sensitive to it I think lol

 

[Apparition]

Not drowning, but more like it would be a very nice byproduct of moving.

You did go from selling your toys to moving in like one weeks time.

The problem with the private loans is if anything happens like COVID or job loss there is no forbearance of deferment option.

Life sucks some times but it's not the end of the world, prepare the best you can. You can drop your rates, lower your minimum, continue overpaying and pay them off faster.

 

[MtPockets]

Great thread! Lot's of great advice!

The first thing I'd look at, as far as where to move to, is what's available that supports your long term hobbies.
Work can be had anywhere, but you have to really enjoy your time off or you'll get to hating life.
Next would be to find a girl who has similar interests/hobbies, and here again- there has to be places nearby to DO them.
Is there a Jeep Singles dating site?
As for work, for many years I've been touting the railroad. They have Tech jobs just like anywhere else, but you put in 30 years and when you retire you bring home as much or more than when you were working.
And another big plus, if you get into management, is they'll pay to move you all over the country.
If you get tired of a locale, look at current openings and move on without losing your retirement.
Since the Retirement is basically federal, you can even switch railroads or go to an outside contractor as long as the pay into the RRB.
Hit me up if youd like more info...

Good luck in your search!!!

 

[John Cooper]

Chattanooga to Nashville, 1.5 hours to 2 hours depending on traffic.

Chattanooga traffic sucks butt, they have been working on I-24 and I-75 since I first moved here in 1978, with no end in sight for the next 10 to 20 years.

Huntsville to Nashville roughly the same time.

Traffic in Huntsville is way better than Chattanooga due to only one interstate 565 and it's straight thru town.

Plus you can find something outside of Huntsville cheaper than Chattanooga for the time being.

Our house was $80,000.00 in 2001, could sell on a quick sale for $300,000.00

Then go 30 miles down the mountain and buy a bigger house and still have some ching, plus be farther away from people.

 

[BlueC]

Our house was $80,000.00 in 2001, could sell on a quick sale for $300,000.00

Then go 30 miles down the mountain and buy a bigger house and still have some ching, plus be farther away from people.

Not to derail again, but we have something interesting happening around here. Pre 'vid, in general the more rural, farther out properties could be bought at a discount, like you say. Over the last few years that discount seems to have vanished, and in some cases might have flipped to a premium. I'm not really sure what to read into as the driver, but it's something I've noticed. I guess people just want to get away now, or maybe our natives are trying to get away from the transplant buildup.

 

[John Cooper]

Not to derail again, but we have something interesting happening around here. Pre 'vid, in general the more rural, farther out properties could be bought at a discount, like you say. Over the last few years that discount seems to have vanished, and in some cases might have flipped to a premium. I'm not really sure what to read into as the driver, but it's something I've noticed. I guess people just want to get away now, or maybe our natives are trying to get away from the transplant buildup.

Around here, well where we are looking, you will find Million dollar bluff home and 1/2 mile down the road a $100,000.00 dollar single wide with a nice clean yard, then a older home junked up.

That doesn't bother me, as most folks here mind their own business because they know everyone even convicts have guns......lol.

It's just the way Sand Mountain has always been.

 

[GoldenGorilla]

The era of remote work isn't going to end, but it will reduce opportunities for advancement, networking and movement.

In recent times I'd say Chicago traffic is FAR worse than Denver. I go there with some regularity for work. Always thankful when I just take the blue line and avoid cars there.

 

[GoldenGorilla]

M2 Money Supply. Something like 80% of all dollars to ever exist have been printed in the last 6 years. The second chart (M1) is even worse.

View attachment 694823

View attachment 694824

This^

The money supply is functionally created by the banks, not national reserve banks.

https://www.ineteconomics.org/perspectives/blog/steve-keen-how-he-saw-it-coming-and-others-did-not

Backedstopped by "too big to fail" federal policies, QE and new avenues the lend to private credit the appetite for issuing new debt is insatiable. That fuels the growth in M2

 

[Westtown Willy]

In the event you haven't landed on a decision yet, allow me to suggest Kensington. The humidity is terrible and there are no tech jobs you seek, or other jobs, but once you fall into the flow you won't know the difference

 

[InOmaha]

I have to work in the office. I drive in, set up my laptop, and email or call people in other states all day. Then drive home.

My current project is through our offices in Texas and North Carolina for a client in NC.

If I set up at home, nobody would know the difference other than the 2 show and tell meetings a week in house to inform everyone what we are working on. I would miss out on 1/2-1 hour of radio in the car each day. Depends on traffic and accidents.

I think it's time to retire. Maybe do some part time on the side or take some welding classes.

Maybe move to a state with fewer taxes.

 

[Westtown Willy]

I have to work in the office. I drive in, set up my laptop, and email or call people in other states all day. Then drive home.

My current project is through our offices in Texas and North Carolina for a client in NC.

If I set up at home, nobody would know the difference other than the 2 show and tell meetings a week in house to inform everyone what we are working on. I would miss out on 1/2-1 hour of radio in the car each day. Depends on traffic and accidents.

I think it's time to retire. Maybe do some part time on the side or take some welding classes.

Maybe move to a state with fewer taxes.

I also go to the office (3 days/wk) mostly to get out of the house, could also work from home if I chose to, & we're very similarly situated on the retirement thoughts; I'm a couple years older @60 & teetering on the same decision. I've also been looking at taxes in retirement as I want to know what I'm in for, not that I'm going anywhere given that both my kids & now grandson all live here in PA, but fortunately it's fairly tax friendly for retirees, no tax on Social Security, 401(k)s, IRAs, and eligible pensions, but non-retirement account income IS taxed at 3.07%. We have a 6% sales tax but essentials are excluded (0% on food, clothing, and medical related items like prescriptions & over-the-counter meds, vitamins, and medical devices). Property taxes can be on the higher end depending on where you are, but I've been in a pretty good spot since the 90s & I'll have to be very discerning on where I go next if/when I downsize, zip code-wise.

It's not the best state tax-wise but it's pretty far from the worst for sure.

Part time work will likely be a must, I just don't have enough hobbies to keep myself occupied... I'm liking my current schedule a great deal: Mondays, Tuesdays & Thursdays 7am to 1pm, it's almost become a hobby itself.