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Relocating, how do I decide.

Shangobango

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Louisiana
Long story short is I have been offered a position with my company in a flyover State halfway across the country. This would be a promotion as far as title and would come with about a 20% base pay increase. Relocation would be covered by the company including real estate services. The state is known for stellar whitetail hunting and would put me closer to most western hunting destinations.

I am going on 46. I am single. My house and land are paid for. I am on track to be able to retire at 55 or shortly after. All of my family and friends are here where I live now. I would have to sell livestock, figure out what to do with my house dogs, etc.

I could easily rent the house. I was thinking of selling the livestock and planting the 25 acres I have in pasture in trees anyway.

I need to figure out cost of living there and see how much of the raise in base pay the difference would chip away. Need to figure out the difference in taxes.

Thoughts?

What else should I be taking into consideration?
 
Long story short is I have been offered a position with my company in a flyover State halfway across the country. This would be a promotion as far as title and would come with about a 20% base pay increase. Relocation would be covered by the company including real estate services. The state is known for stellar whitetail hunting and would put me closer to most western hunting destinations.

I am going on 46. I am single. My house and land are paid for. I am on track to be able to retire at 55 or shortly after. All of my family and friends are here where I live now. I would have to sell livestock, figure out what to do with my house dogs, etc.

I could easily rent the house. I was thinking of selling the livestock and planting the 25 acres I have in pasture in trees anyway.

I need to figure out cost of living there and see how much of the raise in base pay the difference would chip away. Need to figure out the difference in taxes.

Thoughts?

What else should I be taking into consideration?
Social life is a big factor for many.

Mark
 
Just from how you described things, it seems like the title and 20% might not be worth what you would be giving up. It could be a new lease on things and a fun adventure, but you would be leaving a lot behind. I might stay if I was in your shoes and wait for the title and money where you are, even if it takes a few years longer.
 
It would depend a lot on the specific area you are moving to. Care to share more details? I personally would not uproot my life for a 20% raise, or probably any raise for that matter unless it was crazy money. If you want to move, Id shop jobs in an area that you really want to move to.
 
I know several persons from LA. All of them are fish out of water in Iowa. I'm not sure the 20% pay increase is worth it. Culture shock is a very real thing. In any regard, feel free to PM me with more details on the move location and I may be able to offer more specific info, and considerations. I've lived and/or spent significant time in WI, MN, IA, ND, IL
 
IMO as it was said above money isn't everything. Retire at 55 is a plus, but being close to family you can't put a price on it, if everything is paid for that's huge. Renting out a place can be a huge PIA, yer responsible for the upkeep all of that etc. Is 20% worth the headache if you have to replace things like water heaters, what if rent is late who's gonna collect, I watched my folks deal with managing a small trailer court and know what a pain it is. Leaving the dogs that would be a deal breaker for me like others said too.
You've got a lot to think about, I'm close to your age and single I don't know if I could do it or would do it.
 
My personal experience…big moves for work are a young person’s game. And most people that did it are trying to find a way to get a paid move back to where they’re from or where they actually want to be before they retire, because it’s a huge expense to pay yourself at retirement time otherwise. I’m your age, and wouldn’t consider it at this point.

I’ll also second that you check on the tax implications for a paid move. I believe it counts as income now. We got a large surprise on our taxes the last time we were moved in 2018, right after the law changed.

Good luck, whatever you decide.
 
I’ve made several moves when young for promotion before I got off the roller coaster.

Personally, I wouldn’t blink at a 20% raise to move. I’d tell them no at the meeting. It’d have to be more substantial than that with bonus perks.

It would be more with higher bonus structure.

IF I want to keep climbing the corporate ladder I will have to have that job title at some point more than likely.

I am pretty well paid compared to others with my job title. That is the reason for the smaller base pay bump. I could probably negotiate up a little. I seriously doubt I could get it to more than 25% though.
 
Or where you want to retire to.
Well, honestly I want to retire to right where I am, but I have never really lived anywhere else that was further away than 40 miles except for about 2 years total between 2 different places. I think that is what is gnawing at me a little. How do I know if this is where I want to retire if I have never spent significant time anywhere else?

Midlife crisis maybe? Lol.
 
For that kind of a raise I wouldn't move myself. Cost of living could eat up almost all of that raise, not to mention state tax differences, housing market, etc etc etc

Sounds like you're happy where you're at to be honest.


As far as where to retire, many folks do the rv life for a bit and figure out a location they want to move for good. That or just short term rentals in different places trying them out after retirement. Good way to test the waters before going all out buying a place you might later regret
 

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