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flyer
ParticipantAgree Jupiter has great golf courses. There are many around the world, and we’re trying to play as many as possible as one of our hobbies. See Phil playing our home course often, so, even with the move to Jupiter, I’m sure they will keep a place here. Can’t imagine giving up life in our ‘hood’ entirely. He’s been a pilot for years, guess he took after his Dad who was a Navy pilot, Top Gun instructor, then a commercial pilot.
Also agree success in real estate and many other things are far more interesting than golf, but variety is the spice of life, so, imo, the more interests, the merrier.
ParticipantTotally agree buying and holding over time is a great strategy. Cycles will always come and go, but this one is particularly interesting. Schiller, in his latest prognostications, seems to think there will be some pain involved if/when there is a correction.
That said, guess we’re losing another San Diegan to less taxing climes. Heard Mickelson is moving to Jupiter when his youngest graduates from high school. Our golfing families have crossed paths for many years, and it’s been great to watch his career–especially that win last Sunday.
Participantscaredy, I’ll have to let you go solo on the play deal. My wife is the movie/play deal maker around our house, and she has more projects than she’ll ever be able to complete in this lifetime. Don’t know if there is a market for the type of project you’re considering, but you never know what might sell.
Personally, I don’t think EP deserves this much venom, just because his views may be different from those held by others. Conflicting views never bother me, because I realize each side always assumes they are absolutely right, which, of course, in and of itself, is a faulty premise. That premise as a given, I just consider the entire discourse on both sides nothing more or less than interesting.
ParticipantLike so many of us on this forum, I know EP mentioned, along with the primary, he has/had? many investment properties. As mentioned in another thread, that’s turned out to be much like winning the lottery–especially in San Diego–so, I’m guessing, he must have had significant reasons–other than financial–for making the move, and I wish him well.
ParticipantI agree that being concerned about finances, especially when you have more money than you’ll ever need for yourself and your family, ad infinitum, isn’t necessary.
EP has enjoyed wealth for many years, and is now fortunate enough to be living to an advanced age–which many won’t,(mortality rates in the US from various causes are rising among many age groups–especially 25-64 from what I’ve read) so he is free to enjoy life wherever he chooses!
ParticipantEP, with your net worth, which, I’m sure is far, far, far greater than that of most Californians–regardless of age– you can easily choose to live wherever you wish–including anywhere in CA–but if you choose to go, for whatever reason(s), enjoy your wealth and your new life, with no justification necessary.
ParticipantSo many great thoughts from everyone. Hopefully the OP will find the answers he is looking for.
Participant[quote=masayako][quote=flyer]All good points, so it boils down to where you want to be, and only you can answer that question.
We also live in other places, but still keep our dream home here. Granted, if you waited to purchase your dream home or other properties until now, they, and taxes, are going to be a lot more expensive than they were in the past. Meeting the requirements to keep a tax base in another state or country is something you might want to investigate. There are (legal) ways to have the best of all worlds.
We also have lots of family here, kids, friends etc., and take care of several family members who need care, vs. placing them in facilities. We have them taken care of in the way we would want to be treated, and are glad to do it. A few hugs a day means more to them than any amount of money every could.
Even with the best diet, exercise and mental health aspects of life covered, when you see how life can change on a dime wrt one’s health, it’s clear that making the most of what you have each day is the best way to go, and I wish you the best in your quest.[/quote]
Thank you so much for the advice. My in-laws will go with us if we decide to move out of CA. They are being very flexible. I completely agree with you that it boils down to where you want to be and what we are willing to scarifice (friends in CA etc). It’s so hard.[/quote]
Glad to know my thoughts were helpful, but please, don’t construe them as advice, because it’s best that you make your own decisions. That said, here are a few more thoughts:
I think the reason you are having such a hard time with this, is that you really do feel a strong attachment to CA and all that only it has to offer, yet, you also feel pragmatically compelled to evaluate the financial realities of staying in CA.
One thing you might want to consider in order to find your answer, would be to look for your dream home both in CA and elsewhere, and then, let that choice guide your decision to stay in CA or move. This may sound esoteric, because it is, but I feel the home is an expression of the soul that fills a space that nothing else can fill, so making that your guiding factor would seem to make sense.
If you find the home and location you can’t live without in CA, vs. elsewhere, run the numbers long term, and even if the home is more than the equivalent elsewhere, including taxes, property taxes, etc. if you feel you can afford it, it would seem you have your answer. Other than what you wish to leave to your family and/or friends, leaving multiple millions on the table would not seem necessary. Again, just my thoughts.
ParticipantAll good points, so it boils down to where you want to be, and only you can answer that question.
We also live in other places, but still keep our dream home here. Granted, if you waited to purchase your dream home or other properties until now, they, and taxes, are going to be a lot more expensive than they were in the past. Meeting the requirements to keep a tax base in another state or country is something you might want to investigate. There are (legal) ways to have the best of all worlds.
We also have lots of family here, kids, friends etc., and take care of several family members who need care, vs. placing them in facilities. We have them taken care of in the way we would want to be treated, and are glad to do it. A few hugs a day means more to them than any amount of money every could.
Even with the best diet, exercise and mental health aspects of life covered, when you see how life can change on a dime wrt one’s health, it’s clear that making the most of what you have each day is the best way to go, and I wish you the best in your quest.
ParticipantOP, I also should have mentioned that there are many in CA and, specifically, in San Diego, in a similar financial position to yourself–so it’s not that rare anymore–just enjoy it!
ParticipantOP, you should do whatever you want to do–only you know what you want out of life. You can’t buy time–and the clock is ticking for all of us–so enjoy!
Participant[quote=sdrealtor][quote=EconProf]Actually I made quite a lot on houses, apartments, and commercial properties, to the point where landlording income dwarfed teaching income.
I mentioned El Cajon because that was a typical blue-collar suburb then. As you must know, coastal properties in San Diego have appreciated much faster over the decades than inland.[/quote]Great work! Anyone that invested 45 years ago made a killing. Its just the numbers you posted dont look great relative to most Ive seen. Either way simply buying and holding that long makes you look very astute[/quote]
Great on all of the real estate wins–EP–enjoy your new life! Looks like a beautiful spot, and with close family ties–it should be fantastic!
Participant[quote=EconProf]A bit of history about San Diego from this geeser. When we first moved here so I could teach at SDSU, 45 years ago, CA was the land of opportunity–the Golden State. Pete Wilson was the San Diego mayor, later CA senator. CA was Reagan country and the government was efficient, taxes were reasonable, and politics were competitive. A 3 Br, 2 Ba house in the suburb of El Cajon averaged $45,000 in price, the same as the national average. Now the left owns the state, government unions control K-12, the universities, and virtually all city, county, and state offices. Our high taxes, draconian regulations, skyrocketing utility bills are what make CA houses cost three times what the same house will cost in Utah, AZ, Texas, etc. Which explains why CA population is actually shrinking of late in absolute terms. Yes, we have our great weather, the ocean, and hip culture. But the trends are ominous, and the future is dire compared to that of our neighboring states.[/quote]
We’ve seen our investment and personal properties, especially coastal, skyrocket since we started investing many years ago, but I think you speak for a great number of people who are finding the current state of CA challenging in many ways, so moving elsewhere makes sense.
I’ve spoken to many people who have no idea of how their kids will ever be able to buy a home in CA, let alone save for retirement. Of course, there will always be those who continue to live beyond their means in order to stay in CA, and that will not bode well long-term. The bottom line is everyone has to do what’s best for them, and enjoy the short time we all have on earth.
ParticipantBeautiful place, EP–all the best. I’m with you on avoiding high property taxes and mello, which we’ve managed to do. There are lots of beautiful places in the world, and we try to spend time in many of them–but San Diego and rsf will always be home–especially with our families fairly close.
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