Help… Should we sell, or stay???

[Homeschool2Boys]

When we bought the house, I thought the mortgage was doable. I was working maybe 60 hours per week at the time. However, a few years ago I started a side business running clinical trials for pharmaceutical companies, and burned up a couple hundred thousand trying to make it work. Realized too late that I am not an entrepreneur – hated the business development and managing the staff. It is only in the past few months that I have paid off all my debt – hence, the 80-90 hour weeks, which I could now cut back to maybe 60 if we are careful with our spending. We had also taken out some of our home equity to remodel, which I have also just finished paying off. So, I am now back to no debt (NO DEBT – no car loans, no HELOC…!) with the exception of this first mortgage. I guess being in this current situation, back to square one, is what is causing me to rethink how I want to live. I could cut back on my hours now, but the idea of no mortgage is enticing, so we may test the market just to see if anyone is interested in our house for what we would want for it. Then, I could increase my savings quite a bit for college and retirement… I am not comfortable with so much of our net worth tied up in the home, with the market seemingly only going down… it seems like it would be a lot less risky with a cheaper house, and more diversity in my portfolio (we have a few hundred thousand in 401K (mostly my wife’s 🙂 ) but that’s it, besides our emergency fund…

[ocrenter]

First: I echo the sentiment of many here that encourage your wife to continue to stay home and raise your kids right.

Second: After taxes, unless your wife pulls in well over 6 figures, it simply isn’t worth it financially for her to work.

So there’s the monetary as well as family reason for her not to work.

Now since you guys home school, let me propose this option: Sell your Carlsbad home at $1.1 million (yes it is worth $1.2, but in this market you need to price it low for it to get noticed.)

Go to SEH and pick up something nice and big say 3,500 for $5-600,000 cash.

you get a nice neighborhood to enjoy, and since your kids are home schooled, you don’t worry about the prospect of San Marcos High.

[ocrenter]

First: I echo the sentiment of many here that encourage your wife to continue to stay home and raise your kids right.

Second: After taxes, unless your wife pulls in well over 6 figures, it simply isn’t worth it financially for her to work.

So there’s the monetary as well as family reason for her not to work.

Now since you guys home school, let me propose this option: Sell your Carlsbad home at $1.1 million (yes it is worth $1.2, but in this market you need to price it low for it to get noticed.)

Go to SEH and pick up something nice and big say 3,500 for $5-600,000 cash.

you get a nice neighborhood to enjoy, and since your kids are home schooled, you don’t worry about the prospect of San Marcos High.

[ocrenter]

First: I echo the sentiment of many here that encourage your wife to continue to stay home and raise your kids right.

Second: After taxes, unless your wife pulls in well over 6 figures, it simply isn’t worth it financially for her to work.

So there’s the monetary as well as family reason for her not to work.

Now since you guys home school, let me propose this option: Sell your Carlsbad home at $1.1 million (yes it is worth $1.2, but in this market you need to price it low for it to get noticed.)

Go to SEH and pick up something nice and big say 3,500 for $5-600,000 cash.

you get a nice neighborhood to enjoy, and since your kids are home schooled, you don’t worry about the prospect of San Marcos High.

[ocrenter]

First: I echo the sentiment of many here that encourage your wife to continue to stay home and raise your kids right.

Second: After taxes, unless your wife pulls in well over 6 figures, it simply isn’t worth it financially for her to work.

So there’s the monetary as well as family reason for her not to work.

Now since you guys home school, let me propose this option: Sell your Carlsbad home at $1.1 million (yes it is worth $1.2, but in this market you need to price it low for it to get noticed.)

Go to SEH and pick up something nice and big say 3,500 for $5-600,000 cash.

you get a nice neighborhood to enjoy, and since your kids are home schooled, you don’t worry about the prospect of San Marcos High.

[ocrenter]

First: I echo the sentiment of many here that encourage your wife to continue to stay home and raise your kids right.

Second: After taxes, unless your wife pulls in well over 6 figures, it simply isn’t worth it financially for her to work.

So there’s the monetary as well as family reason for her not to work.

Now since you guys home school, let me propose this option: Sell your Carlsbad home at $1.1 million (yes it is worth $1.2, but in this market you need to price it low for it to get noticed.)

Go to SEH and pick up something nice and big say 3,500 for $5-600,000 cash.

you get a nice neighborhood to enjoy, and since your kids are home schooled, you don’t worry about the prospect of San Marcos High.

[UCGal]

[quote=bsrsharma]To be honest, I think you are worrying that you may die soon. I agree that it is a rational fear. My suggestion would be, take 1,200K – 420K = 780K, invest it wisely in a high yield safe diversified investments, move to a lower cost locale with slower pace of life, live a more stress free life so that you can postpone your funeral. As a physician, you should be able to make a good living almost everywhere. California is overrated.[/quote]

LOL – I think we’d all have less stress if the “high yield” “safe” investments were do-able in this market. Diversification helps spread the risk of individual sectors… but “safe” and “high yield” together are pretty elusive these days.

[UCGal]

[quote=bsrsharma]To be honest, I think you are worrying that you may die soon. I agree that it is a rational fear. My suggestion would be, take 1,200K – 420K = 780K, invest it wisely in a high yield safe diversified investments, move to a lower cost locale with slower pace of life, live a more stress free life so that you can postpone your funeral. As a physician, you should be able to make a good living almost everywhere. California is overrated.[/quote]

LOL – I think we’d all have less stress if the “high yield” “safe” investments were do-able in this market. Diversification helps spread the risk of individual sectors… but “safe” and “high yield” together are pretty elusive these days.

[UCGal]

[quote=bsrsharma]To be honest, I think you are worrying that you may die soon. I agree that it is a rational fear. My suggestion would be, take 1,200K – 420K = 780K, invest it wisely in a high yield safe diversified investments, move to a lower cost locale with slower pace of life, live a more stress free life so that you can postpone your funeral. As a physician, you should be able to make a good living almost everywhere. California is overrated.[/quote]

LOL – I think we’d all have less stress if the “high yield” “safe” investments were do-able in this market. Diversification helps spread the risk of individual sectors… but “safe” and “high yield” together are pretty elusive these days.

[UCGal]

[quote=bsrsharma]To be honest, I think you are worrying that you may die soon. I agree that it is a rational fear. My suggestion would be, take 1,200K – 420K = 780K, invest it wisely in a high yield safe diversified investments, move to a lower cost locale with slower pace of life, live a more stress free life so that you can postpone your funeral. As a physician, you should be able to make a good living almost everywhere. California is overrated.[/quote]

LOL – I think we’d all have less stress if the “high yield” “safe” investments were do-able in this market. Diversification helps spread the risk of individual sectors… but “safe” and “high yield” together are pretty elusive these days.

[UCGal]

[quote=bsrsharma]To be honest, I think you are worrying that you may die soon. I agree that it is a rational fear. My suggestion would be, take 1,200K – 420K = 780K, invest it wisely in a high yield safe diversified investments, move to a lower cost locale with slower pace of life, live a more stress free life so that you can postpone your funeral. As a physician, you should be able to make a good living almost everywhere. California is overrated.[/quote]

LOL – I think we’d all have less stress if the “high yield” “safe” investments were do-able in this market. Diversification helps spread the risk of individual sectors… but “safe” and “high yield” together are pretty elusive these days.

[waterboy]

Sounds like you really want to test the market so list it just under $1.1M and don’t stress if nobody wants it for that amount or higher as you really don’t have to sell. If you do get the price now you have $600k cash to find your next home.

I would still take out a 20% down 30yr loan on it if you can get 5% or less and just pay extra principal each month.

[waterboy]

Sounds like you really want to test the market so list it just under $1.1M and don’t stress if nobody wants it for that amount or higher as you really don’t have to sell. If you do get the price now you have $600k cash to find your next home.

I would still take out a 20% down 30yr loan on it if you can get 5% or less and just pay extra principal each month.

[waterboy]

Sounds like you really want to test the market so list it just under $1.1M and don’t stress if nobody wants it for that amount or higher as you really don’t have to sell. If you do get the price now you have $600k cash to find your next home.

I would still take out a 20% down 30yr loan on it if you can get 5% or less and just pay extra principal each month.

[waterboy]

Sounds like you really want to test the market so list it just under $1.1M and don’t stress if nobody wants it for that amount or higher as you really don’t have to sell. If you do get the price now you have $600k cash to find your next home.

I would still take out a 20% down 30yr loan on it if you can get 5% or less and just pay extra principal each month.

[Author]

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