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Smash, I've probably misunderstood you, but you didn't really mean to say that they could go into retirement with $100,000 to $150,000. You meant per year, right? Charlotte is cheaper than NY but there's no way a retiree can live here for much less than $100,000 a year.
As for politics, as a young Democrat, you can probably get into politics easier than if you tried to enter Republican politics. There's a lot more room for new comers in the Democratic Party than in the GOP.
I was referring to the amount they would gain on the real estate transaction. After selling their home up here, buying a larger home down there, they would walk away with $100,000- $150,000. That would be after using the equity to pay off the remainder of what they owe on their home now, paying real estate commissions, as well as using the equity as a down payment on the home down there. They would have no mortgage.
I agree with the commitment from a company before you decide to move...especially in the financial area. The banks are laying people off in the invest banking area right now.
Charlotte is cheaper than NY but there's no way a retiree can live here for much less than $100,000 a year.
Why do think that a retired couple with no mortgage can't live in Charlotte on less than $100k/year??? Most families of 4 with a mortgage don't make that much.
You misunderstand me - I think I misunderstand Smash. I think $100,000 a year is fine. I was asking if she meant $100,000 for the remaining years of retirement. I know that this is impossible.
You misunderstand me - I think I misunderstand Smash. I think $100,000 a year is fine. I was asking if she meant $100,000 for the remaining years of retirement. I know that this is impossible.
I think he meant that they'll take $100-150k from the house for their retirement. Hopefully they've got other retirement savings, pensions, 401K, social security, etc., on top of that, because like you said, $100k for the remaining years of retirement will mean eating catfood and government cheese before long.....
I think he meant that they'll take $100-150k from the house for their retirement. Hopefully they've got other retirement savings, pensions, 401K, social security, etc., on top of that, because like you said, $100k for the remaining years of retirement will mean eating catfood and government cheese before long.....
Yes, the $100-150k is coming from the sale of the house. Not sure how much they will be going down there with as far as pension, retirement savings,401k, etc but its not just $100k throughout retirement. They won't exactly be rich by any stretch of the imagination, but should be fairly comfortable and sure as hell won't be eating catfood. My dad currently works for a bank in Manhattan.
Good luck trying to find a decent job in the finance field in Charlotte. I have been trying to find something decent (with a future) since I moved here two years ago and it just isn't happening. I'll be leaving this city, hopefully very soon, because I refuse to be stuck in one of the many dead end jobs here.
The bottom line is that the job market here in the financial industry is severely over saturated, and unless you already have 15-20 years experience, get transfered down here from another city, or know someone who can help you out, you shouldn't expect to get anything better than a dead end call center position. Even then it could take you a few months just to get that. Believe me, it's happened to me and to several other people I have come to know down here.
If you are going to come down here then take my advice and do not, I repeat, DO NOT, come down here without something already lined up.
A post on the LI board made me think of this. No offense to anyone originally from the area, but while you can chime in this question is mainly directed at the other Long Island and NY transplants.
How is the Pizza down there?
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