Help me retire early (a second time). Thxs!

[Vicus]

---

I shouldn't have much for living cost. We shop at discount stores, Kohls, commissary, Costco ect. We have Netflix and Sling TV (30 dollars a month for both). I also use an HD attenna. I don't have cable TV but have cable internet which is 60$ here. We have two hybrid sedans that are paid for. Cost of fuel is around 20$ every 14-15 days. I live in Washington State near Seattle. Cost of living is pretty high but so is the salary. I will probably be moving somewhere that the cost of living is half or more then half of what it is now. We mostly stay at home and play MMO's together and watch TV shows/movies. I have a pretty beast surround sound system so it's like going to the movies on the cheap. We will want to travel a decent amount in the future but not the first year. Just travel the new area where we live and get comfortable and see what our costs are.

I upped my savings into my deferred comp and my two roth IRA's by an extra 1k a month (combined between the three). I have been able to get a lot of overtime that is atleast locked on for the next 5 months (adding around 3k more a month). That will go into my house/investments. So far on tracking and pushing the pace.

 

[Vicus]

I wanted to update this post because been some big changes. First we had a second child. This was planned but it wasn't looking realistic at the time of my original post. We been trying for 2 years and were only 2 months from giving up when we found out she was pregnant! Second...retiring at 45 has now changed to 40. I plan to retire from my job around March-June of 2019. Only thing that would change that is if the housing market started to collapse. Since I last posted my home has rose to 250k over the price I purchased it at. I have also completed a few projects that arent even being factor into the the value of the home yet. I am guessing but not planning on it that my house will increase another 30k at a minimum. The schools in my area just had a new High School built and a face life to the other schools. They have all went from 8's to 9's or 10's on the good school scales ect. They are also adding a NHL team among other businesses. The area for work is just doing well. So with that, its to good to pass up on selling.

I am 95% sure I am going to move somewhere in TN. Mainly outside of Nashville (like 45 minutes hour away). I only plan to pay 200k-250k max for a home which will leave me over a 100k to bank/invest. Will take my time and maximize the money I use for a home. My mother lives in the state with her husband and we will live there for a couple of months while we home search. The time is right because our son will start High School at the end of that summer. So we need to make sure we are picking a good school for him. So all this is a little scary. If anyone has suggestions or think of anything I missed let me know. I will be adding 100$ a month for a dental plan that covers the family. Already looked into it. Another side note is my employer has a VEBA program which will have around 14k in it that I can use on any medical/dental expenses. So I will have that money for when my kids need bracers/ect My son will need them but he will get them before I leave my employers program. Any Tennessee residents that have some insight on good places to live? Mom lives in Portland TN, I would like to be within an hour of her for convenience. Been looking at Clarksville due to the good schools and cost of homes. Also will be using every low income/military discount/vet bonus I can to maximize my savings. Ill be 40..so worst case..part time work if all else fails but just dont see it.

Thanks

 

[Scout333]

Sounds like a plan! What will you do with your time? You are awfully young to just sit around. I was getting bored by the end of the first month. You need something meaningful to do with your time! Just my 2cents worth.

 

[evilanne]

Have you looked south of Nashville? I researched area around Arnold AFB years ago when I was applying for different jobs. AEDC is primarily contractor operated, a lot of high tech types...at the time I definitely would have moved there if selected for the job.

 

[Vicus]

Sounds like a plan! What will you do with your time? You are awfully young to just sit around. I was getting bored by the end of the first month. You need something meaningful to do with your time! Just my 2cents worth.

I am going to relax for at least a year and just see where that goes. My wife and I do a lot of online gaming together and we like to hike. Those take up a lot of our time. My body even thou I will only be 40 is really broken down from the military and cop work. BTW anyone having trouble posting from Chrome? I wasn't able to reply until I used firefox or IE.

 

[Vicus]

Have you looked south of Nashville? I researched area around Arnold AFB years ago when I was applying for different jobs. AEDC is primarily contractor operated, a lot of high tech types...at the time I definitely would have moved there if selected for the job.

We are looking everywhere in TN/AL/KY currently. Alabama is starting to turn our head because of all the educational benefits that could cover the cost of anything we can use the post 911 GI bill for. They also don't tax military pension pay. And so far the type of houses for the price that we like seem to be better.

 

[evilanne]

We are looking everywhere in TN/AL/KY currently. Alabama is starting to turn our head because of all the educational benefits that could cover the cost of anything we can use the post 911 GI bill for. They also don't tax military pension pay. And so far the type of houses for the price that we like seem to be better.

These may help:
https://livability.com/best-places/top-100-best-places-to-live/2018 includes Lexington KY, Franklin & Johnson City TN and Auburn AL
https://www.bestplaces.net Sperling's has a lot of data on Cost of Living, Climate, Schools, Crime, etc for comparison of different places.

Note: Tennessee doesn't have any income tax, but they do tax interest & dividends. If you are looking at taxes, you need to look at all different types including income tax, sales tax & property tax for comparison. https://www.kiplinger.com/tool/taxes/T055-S001-kiplinger-tax-map/compare.php?ids=18-1-43