Daily FI discussion thread - August 25, 2017

Anyone have experience convincing their SO to move to a LCOL city? My situation is somewhat complicated by I'll try to explain in a concise manner.

Right now me and wife life in Los Angeles. We rent and are able to save ~20% of income while still maintaining a good social life. Right now we can't afford to buy a home in a decent area at our income level. Our families live in SD and SF.

Wife and SIL own a home (actually 3 flats) in SF outright, that we could live in - only costs would be utilities and a tax bill that was set in the 1950's when the house last sold. The house is currently not generating income.

Our combined income right now is ~160k and 110 of it is from me. I have a stake in my current company + just negotiated revenue sharing on 2 legs of the business, so essentially my base pay is great, plus whatever income I generate will proportionally end up in my pocket.

Current boss wants to move to St. Louis because he's from there + there are a ton of financial incentives from the city, state and federal government. Real estate is $3/sq ft. rather than $15 in LA. There's also a strategic advantage to being on the mississippi and being able to move very large things.

The pro's for me moving to STL are all financial and quality of life. For her it's more of a negative because she's used to word class cities and she already owns a home in the most expensive market in the country.

My goals in life are FI, having a kid or 2 within the next 3-4 years, and being able to support my parents when the time comes. Hers are less about money and more about quality of life and family / friends. She's also worried about our future kids being rednecks because the area is nowhere near as progressive as SF or CA in general.

/r/financialindependence Thread