Predictions for DMV COLA

[Anonymous]

We like it here but are starting to have reservations about the costs of living in NOVA. Our home will be paid off (we bought a starter 20+ years ago and never upgraded to the bigger homes you see). But we are worried if we can afford to live here in retirement (do well but both feds so not "rich.")

More importantly, our child . . . how the $%#$% will kids (young adults and so forth) be able to buy a home here? The prices for even small homes/TH/Condos are crazy.

Are there any up and coming, cheaper, suburbs or exburbs in the area we should be looking at? Or our kid? We like the access to DC but don't prefer to live in a city. Yet, places out past Loudon seem so rural and not walkable.

We don't know what to do/think/expect? Any thoughts here?

[Anonymous]

Anonymous wrote:We like it here but are starting to have reservations about the costs of living in NOVA. Our home will be paid off (we bought a starter 20+ years ago and never upgraded to the bigger homes you see). But we are worried if we can afford to live here in retirement (do well but both feds so not "rich.")

More importantly, our child . . . how the $%#$% will kids (young adults and so forth) be able to buy a home here? The prices for even small homes/TH/Condos are crazy.

Are there any up and coming, cheaper, suburbs or exburbs in the area we should be looking at? Or our kid? We like the access to DC but don't prefer to live in a city. Yet, places out past Loudon seem so rural and not walkable.

We don't know what to do/think/expect? Any thoughts here?

start training for war, because those are all preludes to a civil war/revolution

[Anonymous]

Anonymous wrote:

Anonymous wrote:We like it here but are starting to have reservations about the costs of living in NOVA. Our home will be paid off (we bought a starter 20+ years ago and never upgraded to the bigger homes you see). But we are worried if we can afford to live here in retirement (do well but both feds so not "rich.")

More importantly, our child . . . how the $%#$% will kids (young adults and so forth) be able to buy a home here? The prices for even small homes/TH/Condos are crazy.

Are there any up and coming, cheaper, suburbs or exburbs in the area we should be looking at? Or our kid? We like the access to DC but don't prefer to live in a city. Yet, places out past Loudon seem so rural and not walkable.

We don't know what to do/think/expect? Any thoughts here?

start training for war, because those are all preludes to a civil war/revolution

Say what now?

[Anonymous]

Anonymous wrote:We like it here but are starting to have reservations about the costs of living in NOVA. Our home will be paid off (we bought a starter 20+ years ago and never upgraded to the bigger homes you see). But we are worried if we can afford to live here in retirement (do well but both feds so not "rich.")

More importantly, our child . . . how the $%#$% will kids (young adults and so forth) be able to buy a home here? The prices for even small homes/TH/Condos are crazy.

Are there any up and coming, cheaper, suburbs or exburbs in the area we should be looking at? Or our kid? We like the access to DC but don't prefer to live in a city. Yet, places out past Loudon seem so rural and not walkable.

We don't know what to do/think/expect? Any thoughts here?

Much like DH and I permanently moved away from our home states, I have zero assumption that my kids will live in our current home state. So I won't worry about them. As for you, there are always cheaper suburbs or exurbs to be found. Especially when you are in retirement and don't have to worry about your kids having the "best of the best" schools. Have you heard of the state called Maryland?

[Anonymous]

Anonymous wrote:We like it here but are starting to have reservations about the costs of living in NOVA. Our home will be paid off (we bought a starter 20+ years ago and never upgraded to the bigger homes you see). But we are worried if we can afford to live here in retirement (do well but both feds so not "rich.")

More importantly, our child . . . how the $%#$% will kids (young adults and so forth) be able to buy a home here? The prices for even small homes/TH/Condos are crazy.

Are there any up and coming, cheaper, suburbs or exburbs in the area we should be looking at? Or our kid? We like the access to DC but don't prefer to live in a city. Yet, places out past Loudon seem so rural and not walkable.

We don't know what to do/think/expect? Any thoughts here?

I’m a little confused as to how as dual Feds (with dual cola adjusted pensions and presumably decent tsp savings) and a paid off house you are worried about not being able to afford living in NOVA in retirement. What major costs do you anticipate not being able to cover?

[Anonymous]

Anonymous wrote:We like it here but are starting to have reservations about the costs of living in NOVA. Our home will be paid off (we bought a starter 20+ years ago and never upgraded to the bigger homes you see). But we are worried if we can afford to live here in retirement (do well but both feds so not "rich.")

More importantly, our child . . . how the $%#$% will kids (young adults and so forth) be able to buy a home here? The prices for even small homes/TH/Condos are crazy.

Are there any up and coming, cheaper, suburbs or exburbs in the area we should be looking at? Or our kid? We like the access to DC but don't prefer to live in a city. Yet, places out past Loudon seem so rural and not walkable.

We don't know what to do/think/expect? Any thoughts here?

I expect to stay put and live multi-generationally with one or more of my children in my current home. It is depressing out there.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We like it here but are starting to have reservations about the costs of living in NOVA. Our home will be paid off (we bought a starter 20+ years ago and never upgraded to the bigger homes you see). But we are worried if we can afford to live here in retirement (do well but both feds so not "rich.")

More importantly, our child . . . how the $%#$% will kids (young adults and so forth) be able to buy a home here? The prices for even small homes/TH/Condos are crazy.

Are there any up and coming, cheaper, suburbs or exburbs in the area we should be looking at? Or our kid? We like the access to DC but don't prefer to live in a city. Yet, places out past Loudon seem so rural and not walkable.

We don't know what to do/think/expect? Any thoughts here?

I’m a little confused as to how as dual Feds (with dual cola adjusted pensions and presumably decent tsp savings) and a paid off house you are worried about not being able to afford living in NOVA in retirement. What major costs do you anticipate not being able to cover?

Student loans, 4 sets of aging parents (who are poor and we will have to deal with), an unmarried elderly aunt (same), kids in college, houses going for a lot of money (even if we downsize), costs if we move to IL/AL, taxes, insurance, etc. etc.

What is not to understand?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We like it here but are starting to have reservations about the costs of living in NOVA. Our home will be paid off (we bought a starter 20+ years ago and never upgraded to the bigger homes you see). But we are worried if we can afford to live here in retirement (do well but both feds so not "rich.")

More importantly, our child . . . how the $%#$% will kids (young adults and so forth) be able to buy a home here? The prices for even small homes/TH/Condos are crazy.

Are there any up and coming, cheaper, suburbs or exburbs in the area we should be looking at? Or our kid? We like the access to DC but don't prefer to live in a city. Yet, places out past Loudon seem so rural and not walkable.

We don't know what to do/think/expect? Any thoughts here?

I’m a little confused as to how as dual Feds (with dual cola adjusted pensions and presumably decent tsp savings) and a paid off house you are worried about not being able to afford living in NOVA in retirement. What major costs do you anticipate not being able to cover?

Student loans, 4 sets of aging parents (who are poor and we will have to deal with), an unmarried elderly aunt (same), kids in college, houses going for a lot of money (even if we downsize), costs if we move to IL/AL, taxes, insurance, etc. etc.

What is not to understand?

You're going to have student loans still in retirement?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We like it here but are starting to have reservations about the costs of living in NOVA. Our home will be paid off (we bought a starter 20+ years ago and never upgraded to the bigger homes you see). But we are worried if we can afford to live here in retirement (do well but both feds so not "rich.")

More importantly, our child . . . how the $%#$% will kids (young adults and so forth) be able to buy a home here? The prices for even small homes/TH/Condos are crazy.

Are there any up and coming, cheaper, suburbs or exburbs in the area we should be looking at? Or our kid? We like the access to DC but don't prefer to live in a city. Yet, places out past Loudon seem so rural and not walkable.

We don't know what to do/think/expect? Any thoughts here?

I’m a little confused as to how as dual Feds (with dual cola adjusted pensions and presumably decent tsp savings) and a paid off house you are worried about not being able to afford living in NOVA in retirement. What major costs do you anticipate not being able to cover?

Student loans, 4 sets of aging parents (who are poor and we will have to deal with), an unmarried elderly aunt (same), kids in college, houses going for a lot of money (even if we downsize), costs if we move to IL/AL, taxes, insurance, etc. etc.

What is not to understand?

You're going to have student loans still in retirement?

We HAD student loans that delayed home ownership, investing, etc. Not everyone starts their fed career at a 15/10 with no debt.

[Anonymous]

If you really want to give your kid a leg up, let them live here with you for the first few years out of college while they hustle and save a lot of money to buy their first home.

Getting free rent near a major job center is how you pass privilege on to your kid. Even better if your kid is a consultant or accountant and on the road 3-4 days per week.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We like it here but are starting to have reservations about the costs of living in NOVA. Our home will be paid off (we bought a starter 20+ years ago and never upgraded to the bigger homes you see). But we are worried if we can afford to live here in retirement (do well but both feds so not "rich.")

More importantly, our child . . . how the $%#$% will kids (young adults and so forth) be able to buy a home here? The prices for even small homes/TH/Condos are crazy.

Are there any up and coming, cheaper, suburbs or exburbs in the area we should be looking at? Or our kid? We like the access to DC but don't prefer to live in a city. Yet, places out past Loudon seem so rural and not walkable.

We don't know what to do/think/expect? Any thoughts here?

I’m a little confused as to how as dual Feds (with dual cola adjusted pensions and presumably decent tsp savings) and a paid off house you are worried about not being able to afford living in NOVA in retirement. What major costs do you anticipate not being able to cover?

Student loans, 4 sets of aging parents (who are poor and we will have to deal with), an unmarried elderly aunt (same), kids in college, houses going for a lot of money (even if we downsize), costs if we move to IL/AL, taxes, insurance, etc. etc.

What is not to understand?

Well excuse the confusion, but it’s not really normal for a retired couple to be subsidizing 5 elderly people while also paying for their kid’s’ college tuition and still paying off their own student loans.

You probably should have included those details in your op.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We like it here but are starting to have reservations about the costs of living in NOVA. Our home will be paid off (we bought a starter 20+ years ago and never upgraded to the bigger homes you see). But we are worried if we can afford to live here in retirement (do well but both feds so not "rich.")

More importantly, our child . . . how the $%#$% will kids (young adults and so forth) be able to buy a home here? The prices for even small homes/TH/Condos are crazy.

Are there any up and coming, cheaper, suburbs or exburbs in the area we should be looking at? Or our kid? We like the access to DC but don't prefer to live in a city. Yet, places out past Loudon seem so rural and not walkable.

We don't know what to do/think/expect? Any thoughts here?

I’m a little confused as to how as dual Feds (with dual cola adjusted pensions and presumably decent tsp savings) and a paid off house you are worried about not being able to afford living in NOVA in retirement. What major costs do you anticipate not being able to cover?

Student loans, 4 sets of aging parents (who are poor and we will have to deal with), an unmarried elderly aunt (same), kids in college, houses going for a lot of money (even if we downsize), costs if we move to IL/AL, taxes, insurance, etc. etc.

What is not to understand?

Well excuse the confusion, but it’s not really normal for a retired couple to be subsidizing 5 elderly people while also paying for their kid’s’ college tuition and still paying off their own student loans.

You probably should have included those details in your op.

The Thread Police have spoken. Look, you don't always need all the details. It's ok to accept the premise of our financials w/o being nosy as to the detail or for some need to "prove it" to you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We like it here but are starting to have reservations about the costs of living in NOVA. Our home will be paid off (we bought a starter 20+ years ago and never upgraded to the bigger homes you see). But we are worried if we can afford to live here in retirement (do well but both feds so not "rich.")

More importantly, our child . . . how the $%#$% will kids (young adults and so forth) be able to buy a home here? The prices for even small homes/TH/Condos are crazy.

Are there any up and coming, cheaper, suburbs or exburbs in the area we should be looking at? Or our kid? We like the access to DC but don't prefer to live in a city. Yet, places out past Loudon seem so rural and not walkable.

We don't know what to do/think/expect? Any thoughts here?

I’m a little confused as to how as dual Feds (with dual cola adjusted pensions and presumably decent tsp savings) and a paid off house you are worried about not being able to afford living in NOVA in retirement. What major costs do you anticipate not being able to cover?

Student loans, 4 sets of aging parents (who are poor and we will have to deal with), an unmarried elderly aunt (same), kids in college, houses going for a lot of money (even if we downsize), costs if we move to IL/AL, taxes, insurance, etc. etc.

What is not to understand?

Well excuse the confusion, but it’s not really normal for a retired couple to be subsidizing 5 elderly people while also paying for their kid’s’ college tuition and still paying off their own student loans.

You probably should have included those details in your op.

The Thread Police have spoken. Look, you don't always need all the details. It's ok to accept the premise of our financials w/o being nosy as to the detail or for some need to "prove it" to you.

DP. You come here for advice and pp rightly pointed out that your circumstances are very unusual. You're the one giving attitude. Can it.

[Anonymous]

It's time to leave Virginia OP.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We like it here but are starting to have reservations about the costs of living in NOVA. Our home will be paid off (we bought a starter 20+ years ago and never upgraded to the bigger homes you see). But we are worried if we can afford to live here in retirement (do well but both feds so not "rich.")

More importantly, our child . . . how the $%#$% will kids (young adults and so forth) be able to buy a home here? The prices for even small homes/TH/Condos are crazy.

Are there any up and coming, cheaper, suburbs or exburbs in the area we should be looking at? Or our kid? We like the access to DC but don't prefer to live in a city. Yet, places out past Loudon seem so rural and not walkable.

We don't know what to do/think/expect? Any thoughts here?

I’m a little confused as to how as dual Feds (with dual cola adjusted pensions and presumably decent tsp savings) and a paid off house you are worried about not being able to afford living in NOVA in retirement. What major costs do you anticipate not being able to cover?

Student loans, 4 sets of aging parents (who are poor and we will have to deal with), an unmarried elderly aunt (same), kids in college, houses going for a lot of money (even if we downsize), costs if we move to IL/AL, taxes, insurance, etc. etc.

What is not to understand?

Well excuse the confusion, but it’s not really normal for a retired couple to be subsidizing 5 elderly people while also paying for their kid’s’ college tuition and still paying off their own student loans.

You probably should have included those details in your op.

The Thread Police have spoken. Look, you don't always need all the details. It's ok to accept the premise of our financials w/o being nosy as to the detail or for some need to "prove it" to you.

Your initial self described financials were “we’re a dual fed couple so do well but not rich and have a paid off home in NoVA”.

The vast majority of couples in such a situation will be more than fine in retirement because it’s pretty normal to assume that expenses will decrease and retirees will not be supporting multiple other family members. Most people with significant expenses/obligations outside the norm would share those details upfront so it’s not exactly nosy to be confused as to why you would be worried based on the scenario you initially described when you’re the one asking for insights!