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Reply to "If we moved somewhere cheaper, could we live off principle?"
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[quote=Anonymous][quote=Anonymous]You can do it if you can live on $66,000 a year. $36K rental income and 3% of the million in savings would be $30K. Seems doable. [/quote] You could move to a university town in the midwest, say Iowa City or Ames, Iowa. Great little places to live-- you can buy a small ranch for $135K in a great school district, even less outside of town (but the schools might be more rural and not as good). Cost of living is so much less and the stress of just getting around is way less too. Plan to send the kids to a state university. If one of you could find work, either full-time or part-time you could draw on interest from your nest egg. If you needed to, you could both go back to work full-time. Salaries are lower though, so be aware of that. Downside might be midwestern winters... so the RTP area in NC might be a good option as well. [/quote]
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