After reading your blog I now understand “trade currencies”. Thank For the great post!…

Love this post! It’s amazing how many of our lives have similarities. For example, you say to move to a place with good schools. I live in the bay area in California, where the good schools are in the richest neighborhoods, so I’d have to move out of the whole area. I’m thinking Washington or Oregon. Home values haven’t gone completely nuts there yet.

My wife and I just had our second child, another boy, so we have saved a bit on clothing. And they will be able to share a room. But it’s tough having the second child and NOT have one of you (you or your spouse) stay home. The daycare we provide our first child is expensive. Adding our second would be cost-prohibitive. But one salary where I live is ridiculously hard to make stretch; I, too, am exploring ways not only to save, but to earn. Multiple streams of income, I think you called it wealthstreaming, is a prudent thing to do in today’s society.

It’s akin to NOT putting all your eggs in one basket.

Keep up the great work. I really enjoy your point of view.

When you leave the NYC area, you will NEVER make the salary that you are making now. That was the hardest lesson DH and I had to learn. So, make your money now, save, save, save and when you do make the move be prepared to live on much less. There are many areas in upstate New York that are cheaper to live AND have superb public schools BUT you had better check them out way before hand. They are few and far between. I was amazed at the poverty (yes, poverty) levels. I retired as a millionaire at the age of 50. DH was 45. The first year was fun then it got boring. No matter how much money we amassed, the investments could not keep up with inflation. So rather than tap into the savings, we started our own business and earn enough to pay everything WITHOUT touching the savings/investments. I think that is the real way to go. Plus, it keeps you young. We travel, sail, relax and do whatever we want but we work 2-3 days a week.
When the kids got older, both work in the city and both have apartments/condo/co-op in the NYC. Whenever I have the urge to visit Manhattan, I stay at their places and keep my money invested. I will not buy again in NYC. I own 2 homes without mortgages, 1 in a ski area, the other at the beach. We go to Europe once a year. Life is good. But realistic. As a side note: I will NEVER move out of New York. It’s a great state. It has one of the best consumer protection laws in the US and the legal system makes sense to me.
Just my 2 cents. Good luck. Email me any questions.

#6 is also a great point. “You need people whose interests complement yours, but whose skills fill the gaps between your own.”

I love that quote. This is something everyone needs to do to grow -personally, professionally, spiritually, or however they choose to grow. I even like to hear contrarian view points – as long as they are supportive and open minded. That is the only way to grow.

I’m happy to be a part of your on-line mastermind. I keep you in mine as well. You’re a thinker, which is often hard to find.

To develop the mindset and become aware of our potential – we followed a strict methodology that we have developed

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KT

I pick on Manhattan because we see no point in living in Brooklyn or the Bronx or Queens or the far dark distant reaches of Staten Island. We could live in Manhattan, but the lifestyle changes would be drastic and not really in line with our goals and values. It’s a shame, because I truly deeply madly love Manhattan. Even though I lived the first 25 years of my life elsewhere, Manhattan felt like home at a deep visceral level when I arrived there. Bubelah, although a Queens resident, loves it too. We just can’t work out how to make that work.

Our plan, by the way, is to move back to Manhattan after the kids are in college