Ep. 348: All Things Considered, Should We Relocate?

Have a question? Let us know! askpete@petetheplanner.com

Peter Dunn and Damian Dunn — no relation — take questions from our listeners and offer their financial expert-level responses on the air (with a bit of humor to make it go down a bit easier).  However, this week, the Dunns received a challenge to their familiar style. Listen to how they navigate the change.
Can’t listen? Check the Show Notes!

Show Notes:

  • Scenario 1: Our writer, Rachel, earns $37 per hour in her current job, with retirement savings at a 4% match, and $310 per pay per period for medical insurance. The role is also a contract job up for possible renewal in June.
    Rachel has a job offer on the table. It’s for $58,000 – $60,000, coming in at about $18,000 less in salary, also includes an automatic 10% investment for retirement, an optional 403(b) to contribute more, $124.08 per pay period for medical, more vacation hours and more time for doctor’s offers and appointments. It seems like this offer makes more sense.
    THE PROBLEM: The job offer is in Charlottesville, VA., and they live in Albuquerque, NM with an FHA loan on their current house with a requirement to remain in the home before selling until August of 2020. With only $3,000 saved, higher rent prices in VA, and a husband who wants to enrolling vet school soon, What’s the smarter choice?
  • Pete & Damian say:“They are signing up for a very tough road. Stay put. I think that’s the clear answer here.” “They should stay in New Mexico. They should stick with the current job, stick with in-state tuition, and develop an emergency fund. Stay, don’t go.

  • Scenario 2: Pete and Damian try something new and treat the subject of money like the serious, humorless subject matter that it possibly demands. Do they make it work? You should take this cue and listen to find out!

 

Click PLAY below to to dive deeper into all three of the scenarios in this episode!

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