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Thoughts on downsizing home to reach FI earlier

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  • #16
    ENTdoc, that is AMAZING to see. Thank you! That is massive food for thought...

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    • #17


      Curious to hear your all’s thoughts.
      Click to expand...


      That is a pretty awesome spreadsheet. Did you just now create it?
      Our passion is protecting clients and others from predatory advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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      • #18





        Curious to hear your all’s thoughts. 
        Click to expand…


        That is a pretty awesome spreadsheet. Did you just now create it?
        Click to expand...


        Took about 45 min.  Was an interesting question.  Curious to see how the sell decision stands up to other assumptions/changes.  Just thought it was interesting that both the net worth and the FI goal was improved by making the switch.  Probably because you're not tying so much investment up in something that gets about the rate of return of inflation and instead investing in stocks/bonds getting 6%.  The commute issue was bigger than I expected.  Dropping the $100/hr opportunity cost (not unreasonable since it affords more time with family which is invaluable) may change things, as will the mortgage interest deduction if added.  Anyhow, hope it helps.

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        • #19




          The area is closer to the office and schools by 10 minutes, so that would cut down on driving significantly, as there are no buses for school transportation.
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          This is huge, as @ENT Doc pointed out. You'll save 20 minutes on every round trip. If you or your spouse brings the kids to school in the morning, pick them up in the afternoon and one of you commutes to work, you'll save an hour of driving every day between the two of you. That's a lot of time, gasoline, and wear and tear on two vehicles.

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          • #20





            The area is closer to the office and schools by 10 minutes, so that would cut down on driving significantly, as there are no buses for school transportation. 
            Click to expand…


            This is huge, as @ENT Doc pointed out. You’ll save 20 minutes on every round trip. If you or your spouse brings the kids to school in the morning, picks them up in the afternoon and one of you commutes to work, you’ll save an hour of driving every day between the two of you. That’s a lot of time, gasoline, and wear and tear on two vehicles.
            Click to expand...


            And wasted life. Time in car doing errands=wasted time you never get back.

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            • #21


              See attached file.
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              I like posting of data. Nice.

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              • #22
                So, in deference to END Doc's analysis, and Johanna's reminder not to be too emotional, I'll echo part of the advice commonly given to residents.

                Do you have time to deal with selling, house hunting, buying, all the realtor/finance implications, moving, remodeling, contractors, painting, etc? While it's clear the extra commute time has a cost, all of the above does too. If you might stay put for 30 years, the commute time will likely total more than the time spent on "the move". Residents often simply don't have the time, so consider what else you may plan on, or need to accomplish in the next X months.

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                • #23
                  Is he a resident?

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                  • #24
                    Physician on Fire, it is exactly what you mentioned regarding the time in the car which initiated the thoughts of moving. Initially, it was questioning if we were optimizing our time and quality of life… Then it led to the financial implications of a potential move.

                    We are not residents. We are a bit over a decade out of training and have had such a paradigm shift from when we were residents. We started off our careers in medicine ready to work, work, work but got burned by that with bad practice partnership experiences. Over the past eight years we have completely shifted our view of medicine in order to Attempt a balance with a life where we can raise our children while both be involved in patients lives and the practice of medicine. We don't need the big house, or fancy cars… We really want a Life where we can truly invested in our family. We are completely fortunate we have careers which allow us to invest in other peoples lives, as well, but it is not what we live for. It would be worth the effort of moving if it could simplify logistics and allow us to be more present in our downtime .

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                    • #25
                      We have been thankful for websites and forums such as this to help solidify and encourage us in what we value while going through this life in medicine.

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                      • #26
                        Windshield time is real and I hate it.  Anything over 20minutes is a waste IMHO.

                        So is living in a home (age, size, school) and community where you're happy and fits your desires.   It's all those to balance with your job choice - hours/location -- to make that precious work/life balance.

                        The spreadsheet is instrumental for the commodization of opportunity cost of time to help.  Remember though is doesn't translate easily to $$$.  More importantly, is convenience and location of time with family and after work activities

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