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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]You are proposing to live on 48k per year. Do people do it?  Sure. But it's tough, and I bet the vast majority of them would say they would like more income. They are, and you would be, a few financial emergencies away from real trouble.

Since your only reason boils down to, "I don't wanna work anymore!"  (Join the club, sister), I'd forget this extraordinarily selfish plan and continue working until you hit a realistic number. [/quote]

But the difference is she's proposing to live on 48k/yr essentially as a retiree -- no mortgage, paying military retiree healthcare rates. That's what makes it doable.

OP -- where in NC? Why build a 750k house? You can get a whole lot of house in most of NC for like 300-350k. If you spend just 300k on a house and invest the rest, it'll grow over decades; I mean your kid is young -- you have over 10 yrs until you have to finance college, so why not make the money work for you.

Is there ANYTHING you or DH would want to do? Even part time or seasonal or a hobby job? I think the numbers do work, but at only 40, I'd feel a bit safer if there was some income coming in -- even if it was just part time retail which paid for my utilities and food. Then once you get started living this way and it works out, you could quit that job.[/quote]

My husbands parents and bro and sister in law live in Charlotte.  His bro has a son the same age as my DS. Since we are one and one I want him to be raised close to his cousin so he has a sense of family. Charlotte is also one direct flight away from my parents and by brother, sister in law, and nephew. We want to build a really nice house that is ranch style (so we can age in place) on an acre and also have a really nice pool and back yard set up so that it is a "destination" that our family and DC friends could also come and visit with their kids. After years of working, moving, and military life, it's pretty much my definition of happiness to build a custom home that is designed around kids, family, and friends. To get the school district we want,  I'm projecting 150k for the land and $500 to build. I'm not opposed to working (as part of this dream) at retail at a store I loved or teaching online or something, just to keep a little cash rolling in, but I so badly want to get off the 9-5 treadmill. [/quote]

I forget but the annuity is at least $100 a month, plus 1/3 for taxes, plus, real estate taxes, house insurance, gas/electric/water/phone/cable/internet, cars, car insurance, and you'll need dental insurance or Tricare retiree is over $100 a month.  If you are not near an active base, you will have steep co-pays on standard.  Most retirees have a second career.  Reasonable to move and build a house but one or both of you need to work at least part time.  Its not $48000 a year when all is taken out.  Even if it is 1/4 taxes - that brings you to $3,000 a month, minus the annuity - maybe another $100, maybe more, I'd have to look at our statement, plus $50-150 or more for tricare prime - assume more as your husband must be an officer, minus $100 a month per dental insurance.  And then the rest.... it will put you very tight at best.[/quote]

Yes I really need to nail down the health care costs but great news, a new VA health center is opening in Chatlotte down the road from our desired area![/quote]

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