My husband is starting to think that he may retire on his 20 years of service anniversary in May 2017 rather than waiting until the end of 2017. This is starting to generate conversation about how to plan for this major life change which we intend to include a move back to the Los Angeles area. Whew!
So far we are trying to wrap our minds around the following:
- Would we rent or buy when we move?
- How much cash will we need for the move and first year?
- Should we leave the cash from my inheritance in a money market account in case we decide to buy?
- Where precisely would we look for a place to live and what are the criteria for making that decision?
- Is it possible to find a place we can afford that would allow us to age in place near family for 15 to 20 years with our budget?
- What repairs/upgrades do we need to make for our current home to sell it for top dollar?
- Would we try to time the sale and move to coincide with his retirement or start working on the sale after he retires?
- How and what would we move across the country?
- Would he look for work that requires being "in the office" or only do consulting work? This really would affect where we live?
We both spent a few hours yesterday looking through houses for sale sites to get a sense of what might work for us. We know it would be more expensive to buy there than what we can get for this house even though we will be downsizing. Moves are so much work that we really need to think through how to do this. When we moved here we rented an apartment on a month to month basis and stored our belongings. Hating living in the apartment drove us to buy a house too quickly I think.
2 1/2 years seems like a lot of time but with a change this big and wanting to be happy with our living circumstances means that we need to start thinking about it now.
If you have any words of wisdom based on experience please share them!