[David]

I would like to say move. It does not have to be to a “rural area”. There are a lot of between in this big world. But not knowing your career or what the pay could be in another area it’s really hard to give specific advice. So, I’ll keep it simple and basic.

~ Look at moving to a lower-cost area where you two can still bring in above-average income. This could even be staying in the same city just a different part of that city. But could also be a totally new area or country.

~ Side Hustles!!! Your current hours don’t allow for a side hustle IMHO. But maybe your spouse could if their hours are more traditional. A side hustle can change your finances.

~ Think about getting a roommate or unconventional living situations. I have met people living in SF who lived on a boat and it was much cheaper than rent or buying. I live in an RV currently in SoCal and it’s roughly 200% or more cheaper than the average rent here.

Most importantly it’s never too late!! You are here asking and this can only be the start of the next chapter of your life.

Don’t miss: If anyone was to receive a lump sum of say $200k, how would you spend/invest it?

[Sonja]

Ask for a raise. Get roommates. Those work hours are ridiculous and can’t be good for physical or mental health.

[Sandra]

Can you take a couple of years, reduce your spending, increase your savings? Even in a HCOL $170k is a high salary. If you track your spending you can probably find some areas to cut down.

Also, regarding being in a niche position, you likely have skills that are transferable to other areas.

Explore these too: We have around $6k a month to invest

[Matty]

I can sense the weight of your current situation, but there is hope, and you definitely came to the right forum for help. It’s clear that you’ve both worked diligently and faced various financial challenges along the way. Your dedication and resilience are commendable.

First, let’s acknowledge the strength in recognizing the need for change and seeking advice from various perspectives. Your willingness to explore options beyond your comfort zone is a powerful step.

Considering your specific circumstances, it might be worthwhile to reassess your living situation. Exploring lower cost of living areas could substantially alleviate your financial strain. It’s encouraging that your partner’s job could potentially transfer, providing an essential anchor for this transition.

The idea of moving to a rural area and taking minimum wage jobs is indeed an option worth considering. It may lead to a more relaxed lifestyle and allow you to redirect funds towards savings and investment. Remember, financial independence and retiring comfortably often require unconventional choices, and sometimes starting anew can be the catalyst for positive change. It’s like Dave Ramsey says, “If you can learn to live like no one else, then you will live like no one else.”

As for FIRE, it’s crucial to tailor this concept to your unique circumstances. It might not be about retiring early, but rather achieving a state of financial security and having the freedom to choose how you spend your time.

Regarding expenses, diligently reevaluating your budget and seeking cost-effective alternatives is a practical approach. Small adjustments can lead to significant savings over time. Furthermore, exploring opportunities for additional income streams, even if they start small, can gradually add to your financial stability.

I understand the concern about using debt and unconventional financial strategies. While it works for some, it’s important to find an approach that aligns with your comfort level and risk tolerance. There are conservative investment strategies that can help grow your wealth steadily.

Finally, it’s never too late to make positive changes in your financial journey. With careful planning and prudent decisions, you can build a more secure future. Remember, you’ve already demonstrated remarkable resilience. Seeking advice from professionals, like a fiduciary financial planner, could provide you with a structured roadmap towards achieving your goals!

[Author]

Posts