Hello everyone. I'm thinking about moving to Austin with my partner. We're originally from NYC and have been exploring jobs in the area. I recently received an offer for a role which is in the same industry and similar to one I currently do.
The issue is it is a significant pay cut. In my current role, my compensation is 158k with a yearly ~10 % bonus. The role I received an offer for is 92k. That's almost a 50% paycut.
I've been following this community for over 10 years, and am super grateful as the principles of FIRE have allowed me to save a decent bit:
- Age: 30
- Assets
- Retirement Accounts: 504k (364K in 401k, 140K in a Roth IRA)
- Investments: 169K
- HYSA: 79k
- Property: ~150k equity
- Debts
- 3.5% mortgage, with roughly 237K remaining
- 0.9% rate, with roughly 4,700 remaining on a car
My partner is also taking a paycut from 72K to 57K, so not as significant. She has no debts, and savings as well but for the purpose of this analysis I would like to stick with my numbers only.
The way I think of it, this would be our version of coast fire. We're pretty frugal people, but accepting the position and paycut is giving me a lot of anxiety. Would people in this community be comfortable with this? Am I crazy for considering the move?
[link] [comments]