Hello Bigger Pockets! I'm new to these forums and hoped to ask my first question - for those that have already reached their goals of financial independence, or are are getting close and making plans, I'm curious to hear where you have chosen to live and locate your primary residence or where you're eyeing to do so? I have spent the last 20 years living in Los Angeles and NYC, but am interested in exploring a much more diverse list of potential cities for "early retirement" (i.e. a place to live when I no longer require traditional employment). I'm fascinated by the potential to live anywhere without the need to be located in the largest job markets as I have been bound to thus far in my life. I have a number of years before I will reach my own passive income goals that will allow for this type of freedom, but this search is one of the motivating factors pushing me to achieve those goals. A few considerations: • Cost - I anticipate having relatively significant resources and want to live in highly desirable locations, but at the same time, I want to cut costs significantly from my lifestyle in the LA market. To me this means having a primary residence in the under $1mil range (but doesn't necessarily have to be under $500k). • I will still have school aged children and need access to great schools, ideally public to avoid the cost of private • I would still value the ability to access metropolitan environments, though I don't need to live in the urban core. Our family loves great restaurants, entertainment, etc. and would find it difficult to lose access to that. • No state income tax states get major bonus points • We love the outdoors. Not that we're avid enthusiasts, but we enjoy skiing, scuba diving, etc. I also greatly appreciate scenic beauty. I live in a SoCal beach town now, but love the mountains, lakes, etc. as well. • Relatively convenient access to a major airport would be valuable to me I hope this topic isn't too far removed from the real estate discussions most commonly posted to the forums, but I thought many in the Bigger Pockets community would have done a similar analysis in their personal lives and might point me in some interesting directions. All of the "best places to live" lists and articles online aren't the perfect fit because they often heavily weigh the local employment market, a factor that will be of little relevance to me when I eventually make this jump.

Well this string is off to an auspicious start. I like the question @Chris Szepessy. Its a dream and dreams are just the foundation of a plan to reality. But I'd say the answer is today. That's it today. You don't know your health in 10 years. You don't know your interests in 10 years. You don't know anything about 10 years from now except today. So the answer to where to live 10 years from now is "where you want to". And the answer to the same question for today is the same answer. And please don't ever forget for a minute that all of those great views, exciting activities, and stunning houses and neighbors are not what your children will remember. They will only remember your face and your love (well and the refrigerator box one year that was more fun than any of the Christmas presents). So maybe my ultimate philosophized answer is that the best place to live in 10 years or today, when you're rich or when you're poor is in the hearts and memories of your children and the people you have impacted for good on your journey. If you define success the right way you'll always achieve it.

Bozeman!! I've been thinking about this for 10 years myself, and have been travelling to every possible place I've considered. Aquifer is gigantic so future drought may not be a problem, public schools are unbelievable, everyone is outdoorsy and healthy, so it inspires you and your kids to get outside and appreciate it. Great airport, though small... Best skiing in the world IMHO, both cross country and downhill. City's books are stunningly strong. Very Progressive, and somewhat green. I was in Colorado at 9000 feet and loved the altitude, so BZN's altitude works for me. Getting expensive, but in your range.

@Mike Akerly This is something I think about too and I’m currently in LA as well. I am also building assets and cash flow for that early retirement. I lived in San Diego for 10 years and might just move back. It’s got all the CA problems-high cost, high taxes, traffic. But at the end of the day I might WANT it anyway. Here are some places I’ve considered: Jackson Hole. Wyoming has no state income tax. I love skiing. 4 season recreation. Great lifestyle. No major airport. Park City. Same as above but with Utah state taxes. Major airport. Flagstaff. Skiing and 4 season recreation. Close to CA and close to warm escapes in southern AZ if you are tired of snow. Fairly major airport in Phoenix. Durango. Same as all the others, 4 season reaction and great lifestyle. No major airport. Kansas City. This is where I’m building up my rental holdings. Nice folks, fairly major airport, culture. Low cost of living. Weather not the best. Other places to consider that are not on my list: Seattle or other place in Washington state. No income tax. Major airports and culture. Too rainy for me! Would love to hear your short list!

@ Dave Foster I couldn't agree more that your answer is a great reminder that wee don't always have the luxury of time that we think we might and what the priorities really should be. To some extent, I need to stay where the work is for a while, but the part about remembering that from your children's perspective it's all about your time and love, is as spot on as it gets.

You make some very good points. I wish I could vote for your post 10 times. I guess at this point it is a dream. Lol. In 10 years I’ll be 42 and my kids will be 18 and 21. Hopefully by then I will still be in great health and my kids will independent. But yes, many things can change in the next 10 years. Thanks!

I'm at least 10 years from being able to "retire," but occasionally look at places to live once I do. My wife and I plan to travel the US, but I've thought of buying a place in AZ. My brother has been talking about moving there for years and after doing some research, I realized why. You've just confirmed it even more!

Haven't been to Arizona, eh. That's too bad. You'd probably like it. I didn't have anything to do with making it this way. I'm just answering the man's question. And rather than spurting off abut things you know nothing of, tell us why Coppell TX is the best place in America and worth uprooting and moving to.

When we moved from up north, we looked at Santa Barbara, La Jolla, Newport Beach and settled on a small town next to Phoenix. There are more resorts here than anywhere, golfing galore, great weather (most of the year) low taxes, a big hole in the ground called The Grand Canyon, skiing, (yes an 11,000 ft mountain for skiing) we have more peaks than Colorado I'm told, great hiking both in the desert and in the mountains, exquisite restaurants, nice people, good roads, lots of activities, and we are only hours away from the ocean. According to US News & World Report 6 of the top 10 schools in the country are here. https://www.usnews.com/education/best-high-schools... Did I mention that investing here is far far easier and more profitable than California? What we don't have are earthquakes, tornadoes, hurricanes, urban forest fires, slides, and tsunamis. I actually don't miss any of those. ;-)

Totally agree. I love San diego. Have you thought about getting out of the east county burb of Poway and moving to SD proper? I grew up in Escondido before moving to pacific beach, then downtown, now mission hills (where I’m about to add a third story to my house since I can’t bring myself to pay cash for a bigger house in this market) Not trying to bag too much on Poway but I think it’s not the best example of what SD has to offer

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Where to Live Once You Achieve Financial Independence?

Mike Akerly

Rental Property Investor · Los Angeles · Member since 2018 · 25 posts · 11 votes

Hello Bigger Pockets! I'm new to these forums and hoped to ask my first question - for those that have already reached their goals of financial independence, or are are getting close and making plans, I'm curious to hear where you have chosen to live and locate your primary residence or where you're eyeing to do so? I have spent the last 20 years living in Los Angeles and NYC, but am interested in exploring a much more diverse list of potential cities for "early retirement" (i.e. a place to live when I no longer require traditional employment). I'm fascinated by the potential to live anywhere without the need to be located in the largest job markets as I have been bound to thus far in my life. I have a number of years before I will reach my own passive income goals that will allow for this type of freedom, but this search is one of the motivating factors pushing me to achieve those goals.

A few considerations:

Cost - I anticipate having relatively significant resources and want to live in highly desirable locations, but at the same time, I want to cut costs significantly from my lifestyle in the LA market. To me this means having a primary residence in the under $1mil range (but doesn't necessarily have to be under $500k).
I will still have school aged children and need access to great schools, ideally public to avoid the cost of private
I would still value the ability to access metropolitan environments, though I don't need to live in the urban core. Our family loves great restaurants, entertainment, etc. and would find it difficult to lose access to that.
No state income tax states get major bonus points
We love the outdoors. Not that we're avid enthusiasts, but we enjoy skiing, scuba diving, etc. I also greatly appreciate scenic beauty. I live in a SoCal beach town now, but love the mountains, lakes, etc. as well.
Relatively convenient access to a major airport would be valuable to me

I hope this topic isn't too far removed from the real estate discussions most commonly posted to the forums, but I thought many in the Bigger Pockets community would have done a similar analysis in their personal lives and might point me in some interesting directions. All of the "best places to live" lists and articles online aren't the perfect fit because they often heavily weigh the local employment market, a factor that will be of little relevance to me when I eventually make this jump.

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Where to Live Once You Achieve Financial Independence?

Where to Live Once You Achieve Financial Independence?

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