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Discuss Latest POF Blog Post: FIRE Crossroads 028: Geoarbitraging to Partial FIRE

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  • Discuss Latest POF Blog Post: FIRE Crossroads 028: Geoarbitraging to Partial FIRE

    How much of a difference does your area’s cost of living make to your financial independence? That’s the question our ... Read more

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  • #2
    If your household income is $900k and you need to geoarbitrage, you don't have a tax problem...

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    • #3
      the hate on NJ is a bit too fierce. I think there may be other problems amiss that are being dismissed in order to just dump on NJ (note I don't live nor have I ever lived in NJ....I just think it's not the root cause of issues the poster has)

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      • #4
        Originally posted by familydocPA View Post
        If your household income is $900k and you need to geoarbitrage, you don't have a tax problem...
        Reminds me of when a bad attitude patient asked me why so many doctors treated him so poorly. I told him, it's not a doctor thing, it's a "you" thing. I haven't seen him for many years after that.

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        • #5
          This guy is not going to make 700-900k as a Neurologist in Florida. The cost of living is lower and by ratios, so is the pay. The abuse from the hospital systems are ridiculous here even if he's in private practice to see consults, think 30+ consults (this is what i have observed). He thinks all his troubles will be healed by moving to "Flar-i-duh", like every New Yorker and New Jersian(?) that moves down here.

          This guy must have wrote this on 4/20, because he's high.

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          • #6
            Originally posted by familydocPA View Post
            If your household income is $900k and you need to geoarbitrage, you don't have a tax problem...
            Putting on my old curmudgeon hat.

            They make 900K a year in NJ and still complain of income taxes and property taxes??? If you cannot live on an after-tax income of 900K anywhere in USA, let alone NJ, you have a spending problem. Not a tax problem.

            I have lived in NJ and hated the traffic and the winter weather. But it is not as bad as the poster claims. And what a boatload of c*ap abut missing one birthday party. It happened because the spouse loved her job and the income it gave her and them being on the high income, high spend treadmill. There are so many mothers in NJ who don't earn enough working 3 jobs to feed their children that they go hungry, and we have a physician who sheds tears about missing one birthday party. No wonder the public thinks we are high earning ungrateful people.

            A swimming pool in NJ for the few months that it can be used in that weather? I bet that this couple would not be happy in FL either, complaining on not being to live on a single income of 700K ( which is hard to do anyway in FL, ethically).

            Go ahead, bash me. I can take it.
            Last edited by Kamban; 04-21-2022, 08:24 PM.

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            • #7
              So move away from family and friends to save on a potential 15%-20% on a household income of 900k to get by and to FIRE?

              Many families become single income after kids reach a certain age. They adjust their budget on the expense side.

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              • #8
                I was wondering why it took so long for the commentary to arrive on this one!

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                • #9
                  I think enjoying where you live is key. In the rush to FI is it really worth living somewhere you don't like to get there. Everyone has different priorities. For some it is being around friends an families, for some the job may be key, and for others it may be the recreational or cultural activities available. I was fortunate to spend my career in an area where others vacation. This made it easy to enjoy the journey. And is $4M a realistic number for someone making $900K. I'd think in their case 8 figures is more realistic.

                  Comment


                  • #10
                    Originally posted by pit.alumni View Post
                    I think enjoying where you live is key. In the rush to FI is it really worth living somewhere you don't like to get there. Everyone has different priorities. For some it is being around friends an families, for some the job may be key, and for others it may be the recreational or cultural activities available. I was fortunate to spend my career in an area where others vacation. This made it easy to enjoy the journey. And is $4M a realistic number for someone making $900K. I'd think in their case 8 figures is more realistic.
                    When you say realistic do you mean the number they actually "need" to retire? He mentioned it somewhere there but 150k is just the mortgage. So theoretically once thats gone that reduces the number they need by 3.75M if you go by the 4% rule.

                    375k in taxes is really crazy when you think about it... but i guess spending 12.5k/mo not including mortgage is a lot too. Probably a more specific breakdown of that budget would make things a little more clear.

                    Comment


                    • #11
                      Originally posted by Craigslist View Post
                      This guy is not going to make 700-900k as a Neurologist in Florida. The cost of living is lower and by ratios, so is the pay. The abuse from the hospital systems are ridiculous here even if he's in private practice to see consults, think 30+ consults (this is what i have observed). He thinks all his troubles will be healed by moving to "Flar-i-duh", like every New Yorker and New Jersian(?) that moves down here.

                      This guy must have wrote this on 4/20, because he's high.
                      How does a neurologist make $900K anywhere? Botox or something?

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