We Moved to California!

2 weeks ago 3

By Jim Dahle, WCI Founder

A few months ago, Katie and I got sick of living in a flyover state. It no longer snows in the Rockies anyway, so all of the reasons we originally chose to live in Utah (skiing, rafting, and boating on reservoirs) have literally disappeared. All we were left with was a toxic dust bowl every time the wind blew across what used to be the Great Salt Lake. So, we decided to move.

California vs. New Jersey

We knew we wanted to be on the coast, but we weren't 100% sure on which coast we wanted to be. Our choices came down to California or New Jersey. We weighed the factors carefully, as you can see in the chart below.

It was a tough decision, but in the end, the lower corporate income taxes swayed us to go to California, even though we don't actually pay corporate income taxes. Maybe someday we might.

You Moved? Really?

We were a little worried that we would earn less, pay more in taxes, and generally endure a higher cost of living, but we consoled ourselves with the fact that we don't have any family in California, saving all kinds of time and uncomfortable situations.

What Does This Mean for WCI?

Half of the WCI staff members live in Utah, but we've all gotten used to working remotely. They'll get over it. We'll leave them our snowblower, just in case it ever snows again.

What Do the Kids Think?

We're halfway to being empty-nesters, with two of the four kids out of the house. Those kids are in college in Utah, but I don't see what they have to complain about. I moved 3,000 miles away to go to college. At least they can drive home in less than four days. Kiddo No. 3 will have to make some new friends just in time for his senior year. Since the new school district is not awesome, we're going to put No. 4 into a private school. We found a nice one, though: The Webb Schools in Claremont. It's only $84,000 per year.

Isn't It April 1?

So what?

More information here:

My New Tesla

How Shorting Ethereum Helped Us Make Payroll

Why (and How) We're Disinheriting Our Kids

PSLF Canceled

WCI Has Been Sold!

Why Are You So Mean to Those of Us in California?

Yes, this post is an April Fools' joke, but I am grateful for those of you willing to live, work, and practice in California and New Jersey. I know it's a tough place to practice medicine and build wealth, but the folks who live there need docs, too. Thank you for being willing to live in smaller houses and work a few more years than the rest of us to reach financial independence. Hopefully, all that sunshine and the ability to spend an evening at a Broadway show on Broadway make it all worth it.

What do you think? What other April Fools' Day plans do you have today?

The post We Moved to California! appeared first on The White Coat Investor - Investing & Personal Finance for Doctors.

Jim Dahle

WCI Founder

James M. Dahle, MD, FACEP, FAAEM is a practicing emergency physician and the founder of The White Coat Investor. After multiple run-ins with unscrupulous financial professionals early in his career, he embarked on his own self-study process to become financially literate. After seeing the benefits of financial literacy in his own life, he was inspired to start The White Coat Investor to assist his colleagues. At the time, there was nobody providing unbiased financial education to doctors at any point in their training. Now, more than a decade later, financial wellness is widely recognized as a critical life skill for all physicians and similar professionals. Dr. Dahle remains committed to the original mission of The White Coat Investor to “help those who wear the white coat get a fair shake on Wall Street.”

He currently serves as the CEO, a columnist, and the host of the podcast. Dr. Dahle is a proud father of 4 children and spends his free time adventuring around the world. If you can’t find him, he is probably hiding in the mountains or desert of his home state of Utah.

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