Dwelling » Debt » Virtually Debt-Free to Practically $1 Million in Debt: Why We Moved to Nashville
From nearly being debt-free to accumulating practically $1 million in debt, our determination to relocate to Nashville was a pivotal one. We delve into the compelling causes behind this transformative transfer, shedding gentle on the monetary and private dynamics that led us on this surprising journey.
We had simply completed constructing our dream dwelling only some years in the past. My companies have been thriving, and this allowed my spouse and I to create a 3-year objective that sounded extra like a fairy story — paying off our mortgage.
We had roughly $450,000 in our dwelling, however we solely had round $250,000 left to pay it off. We have been already forward of the curve in comparison with most, however to have it utterly paid off BEFORE my oldest son began highschool was onerous to simply accept as a chance.
In our case, it wasn’t only a chance. It was turning into a actuality…
Nicely, that’s till God gave us the nudge to promote our dream dwelling, uproot our household and transfer out of state.
And that’s precisely what we did; we bought our dwelling to begin a brand new life in Nashville, Tennessee.
However, the highway to get there wasn’t straightforward, and we hit plenty of bumps alongside the best way. After we began serious about a transfer to Nashville, we rapidly found shopping for an identical dwelling in such a booming space would simply value us 3x or 4x extra.
That appears loopy after I give it some thought — the very fact we walked away from a comfy monetary scenario into a brand new actuality with practically 1,000,000 {dollars} in mortgage debt.
The factor is, our transfer to Tennessee truly makes a lot sense to me now. We have been comfortable the place we have been, however one thing wanted to alter so we might develop and change into the household we have been meant to be.
Why did we transfer? And why did we willingly tackle a lot debt? There are literally fairly a number of causes, and only some of them should do with cash in any respect.
The primary cause we began contemplating a transfer has to do with comfort. Our dwelling in Illinois was fantastic for positive, and it was nice dwelling near the place my spouse grew up, however we have been so removed from an airport that going wherever grew to become an infinite trouble — particularly with youngsters.
Think about desirous to go on trip and having to drive 2.5 hours to get to the airport earlier than you could possibly depart. Since it’s important to be on the airport two hours early, that will imply we’re packing up the children and the automotive practically 5 hours earlier than a flight leaves.
Early morning flights have been virtually not possible because of this, and the whole course of simply grew to become a annoying mess.
We additionally began to consider the longer term. Would our children need to go to us if attending to our dwelling was such a ache?
We wished to stay in a spot our children might simply entry irrespective of the place they wind up dwelling as adults. In the midst of Illinois will not be that place, and that has change into more and more obvious over time.
It’s humorous; I nonetheless bear in mind the primary time I went to the airport from our new dwelling in Tennessee. It took me round 45 minutes to get from my driveway to TSA safety on the Nashville Worldwide Airport, and I used to be ecstatic!
Whereas our funds have been nice after we lived in Illinois, that didn’t change the very fact we have been dwelling in an space with diminishing alternatives. The job market in Illinois appeared prefer it was getting worse yearly we lived there, and taxes have been beginning to get loopy.
In reality, the property taxes we paid in Illinois have been twice as a lot as what we pay in Tennessee for a house that prices 4x as a lot!
That doesn’t even make any sense, however that’s only one instance of Illinois making selections that stunt financial development.
We additionally frightened about how the job market could be for our children sooner or later, and how much alternatives they might have if we stayed within the space. After we began locations to maneuver, it didn’t damage in any respect that Tennessee doesn’t have a state revenue tax, both.
On the finish of the day, we have been dwelling in a spot that appeared prefer it was shifting backward. We wished greater than that, and we knew sticking round wouldn’t make the scenario in Illinois any higher.
One more reason we left Illinois has to do with well being and the sort of entry to healthcare we desperately wanted on the time. I’ve talked about this fairly a bit prior to now, however my youngest son has an attachment dysfunction that has made our household life difficult to say the least.
In Illinois, we tried working with fairly a number of healthcare suppliers earlier than we realized they didn’t actually have the sort of specialists we required. To get our household the proper assist, we wanted to stay near a much bigger hospital system with much more sources.
Our transfer gave us entry to so many professionals who had expertise with the sort of subject we have been coping with, and that alone made the cash we spent effectively value it.
Across the time of our transfer, I used to be additionally making an attempt to determine who I used to be — not less than in a enterprise sense. I had at all times been a monetary advisor, and I had constructed a profitable monetary planning observe in Illinois.
Within the meantime, I had been running a blog and rising a web-based enterprise, and I used to be beginning to earn loads extra on-line than I used to be as a monetary planner.
For some time, I attempted to have the very best of each worlds. I employed monetary planners who might be within the workplace daily, which gave me the choice to work on my observe from a distance — not less than, that’s the way it was imagined to work.
The factor is, being that near the monetary observe left me continuously placing out fires or being requested to satisfy with purchasers who didn’t need to converse with my workers.
I very clearly bear in mind when, at some point, a longtime consumer insisted on assembly with me on a day I wasn’t feeling it, and it wrecked my complete day.
I used to be pissed off as a result of I didn’t need to be a monetary planner anymore, but I couldn’t appear to get away.
I bear in mind venting to my spouse that day when she mentioned one thing that caught me abruptly.
“Then why don’t you promote it?” she mentioned.
I truly had no thought she would even contemplate promoting the observe, and that was precisely what I wanted to listen to in the meanwhile. Her phrases gave me the liberty to let go, and that’s precisely what I did after we moved.
Till then although, I simply felt like I wanted a long way from the observe and that outdated a part of my life. I used to be prepared to maneuver on, each bodily and mentally, and shifting let me do each.
The ultimate cause we moved ties again to the very fact our Illinois city was mainly dying. As most individuals know, the place we stay now could be the precise reverse of that. In reality, Nashville, Tennessee is totally booming!
We now have entry to so many extra alternatives than we might have if we stayed in Illinois — some little and a few huge.
For instance, one in every of my sons was in a position to be a part of the golf crew in sixth grade, which might be unparalleled after we lived in Illinois since no crew existed.
He loves golf and it has been such a blessing for him to work on his sport and get entangled in a faculty sport, and I’m so grateful I used to be in a position to give him that chance.
We now have additionally been in a position to join with extra entrepreneurs we have now issues in frequent with, and generally within the craziest methods. For instance, I’ve a extremely good pal named David Molnar who’s a photographer.
I met him by means of a private finance blogger pal I already had and I additionally knew that David was pals with Josh Axe, the founding father of DoctorAxe.com and the co-founder of Ancient Nutrition.
Josh was somebody I wished to satisfy as a result of he had an identical profession trajectory I did. Whereas he was initially a chiropractor, he ultimately stop his observe to work on his on-line enterprise.
I figured I’d meet him ultimately since he additionally lived in Nashville, however lo and behold, we found our new next-door neighbor was the COO of Historic Diet — one in every of his firms!
It’s simply loopy what number of extra entrepreneurs stay on this space. There are such a lot of individuals I can join with and be taught from, and that’s one thing I used to be undoubtedly lacking.
Dan from the nation duo Dan + Shay was my neighbor for some time, and he lived along with his household only a few doorways down. We wound up making pals along with his household and even went on trip with them.
Principally, none of this stuff might have occurred in Illinois.
For those who assume taking over nearly $1 million in debt for an enormous transfer sounds loopy, I completely get that. However after I add up all of the blessings we received in return, I really feel assured shifting was one of many smartest selections we have now ever made.
We listened to the nudge God gave us, and we put our fears apart to maneuver towards one thing new — one thing higher. Alongside the best way, we realized that generally it’s important to get out of your consolation zone to get what you really need.
And time and time once more, I’ve realized you usually have to surrender one thing good to get one thing nice!
After I go searching at our Nashville dwelling and our children who’re actually thriving, I wouldn’t change a factor.
I could have a home fee now, however I’ve a lot extra.
From nearly being debt-free to accumulating practically $1 million in debt, our determination to relocate to Nashville was a pivotal one. We delve into the compelling causes behind this transformative transfer, shedding gentle on the monetary and private dynamics that led us on this surprising journey.
We had simply completed constructing our dream dwelling only some years in the past. My companies have been thriving, and this allowed my spouse and I to create a 3-year objective that sounded extra like a fairy story — paying off our mortgage.
We had roughly $450,000 in our dwelling, however we solely had round $250,000 left to pay it off. We have been already forward of the curve in comparison with most, however to have it utterly paid off BEFORE my oldest son began highschool was onerous to simply accept as a chance.
In our case, it wasn’t only a chance. It was turning into a actuality…
Nicely, that’s till God gave us the nudge to promote our dream dwelling, uproot our household and transfer out of state.
And that’s precisely what we did; we bought our dwelling to begin a brand new life in Nashville, Tennessee.
However, the highway to get there wasn’t straightforward, and we hit plenty of bumps alongside the best way. After we began serious about a transfer to Nashville, we rapidly found shopping for an identical dwelling in such a booming space would simply value us 3x or 4x extra.
That appears loopy after I give it some thought — the very fact we walked away from a comfy monetary scenario into a brand new actuality with practically 1,000,000 {dollars} in mortgage debt.
The factor is, our transfer to Tennessee truly makes a lot sense to me now. We have been comfortable the place we have been, however one thing wanted to alter so we might develop and change into the household we have been meant to be.
5 Causes We Went From Virtually Debt-Free to Virtually $1 Million in Debt
Why did we transfer? And why did we willingly tackle a lot debt? There are literally fairly a number of causes, and only some of them should do with cash in any respect.
Purpose #1: We Had been 2.5 Hours From the Closest Airport
The primary cause we began contemplating a transfer has to do with comfort. Our dwelling in Illinois was fantastic for positive, and it was nice dwelling near the place my spouse grew up, however we have been so removed from an airport that going wherever grew to become an infinite trouble — particularly with youngsters.
Think about desirous to go on trip and having to drive 2.5 hours to get to the airport earlier than you could possibly depart. Since it’s important to be on the airport two hours early, that will imply we’re packing up the children and the automotive practically 5 hours earlier than a flight leaves.
Early morning flights have been virtually not possible because of this, and the whole course of simply grew to become a annoying mess.
We additionally began to consider the longer term. Would our children need to go to us if attending to our dwelling was such a ache?
We wished to stay in a spot our children might simply entry irrespective of the place they wind up dwelling as adults. In the midst of Illinois will not be that place, and that has change into more and more obvious over time.
It’s humorous; I nonetheless bear in mind the primary time I went to the airport from our new dwelling in Tennessee. It took me round 45 minutes to get from my driveway to TSA safety on the Nashville Worldwide Airport, and I used to be ecstatic!
Purpose #2: We Lived in a Dying Space
Whereas our funds have been nice after we lived in Illinois, that didn’t change the very fact we have been dwelling in an space with diminishing alternatives. The job market in Illinois appeared prefer it was getting worse yearly we lived there, and taxes have been beginning to get loopy.
In reality, the property taxes we paid in Illinois have been twice as a lot as what we pay in Tennessee for a house that prices 4x as a lot!
That doesn’t even make any sense, however that’s only one instance of Illinois making selections that stunt financial development.
We additionally frightened about how the job market could be for our children sooner or later, and how much alternatives they might have if we stayed within the space. After we began locations to maneuver, it didn’t damage in any respect that Tennessee doesn’t have a state revenue tax, both.
On the finish of the day, we have been dwelling in a spot that appeared prefer it was shifting backward. We wished greater than that, and we knew sticking round wouldn’t make the scenario in Illinois any higher.
Purpose #3: We Wanted Entry to Healthcare Specialists
One more reason we left Illinois has to do with well being and the sort of entry to healthcare we desperately wanted on the time. I’ve talked about this fairly a bit prior to now, however my youngest son has an attachment dysfunction that has made our household life difficult to say the least.
In Illinois, we tried working with fairly a number of healthcare suppliers earlier than we realized they didn’t actually have the sort of specialists we required. To get our household the proper assist, we wanted to stay near a much bigger hospital system with much more sources.
Our transfer gave us entry to so many professionals who had expertise with the sort of subject we have been coping with, and that alone made the cash we spent effectively value it.
Purpose #4: I Was Able to Transition My Enterprise
Across the time of our transfer, I used to be additionally making an attempt to determine who I used to be — not less than in a enterprise sense. I had at all times been a monetary advisor, and I had constructed a profitable monetary planning observe in Illinois.
Within the meantime, I had been running a blog and rising a web-based enterprise, and I used to be beginning to earn loads extra on-line than I used to be as a monetary planner.
For some time, I attempted to have the very best of each worlds. I employed monetary planners who might be within the workplace daily, which gave me the choice to work on my observe from a distance — not less than, that’s the way it was imagined to work.
The factor is, being that near the monetary observe left me continuously placing out fires or being requested to satisfy with purchasers who didn’t need to converse with my workers.
I very clearly bear in mind when, at some point, a longtime consumer insisted on assembly with me on a day I wasn’t feeling it, and it wrecked my complete day.
I used to be pissed off as a result of I didn’t need to be a monetary planner anymore, but I couldn’t appear to get away.
I bear in mind venting to my spouse that day when she mentioned one thing that caught me abruptly.
“Then why don’t you promote it?” she mentioned.
I truly had no thought she would even contemplate promoting the observe, and that was precisely what I wanted to listen to in the meanwhile. Her phrases gave me the liberty to let go, and that’s precisely what I did after we moved.
Till then although, I simply felt like I wanted a long way from the observe and that outdated a part of my life. I used to be prepared to maneuver on, each bodily and mentally, and shifting let me do each.
Purpose #5: We Needed to Give Our Youngsters Extra Alternatives
The ultimate cause we moved ties again to the very fact our Illinois city was mainly dying. As most individuals know, the place we stay now could be the precise reverse of that. In reality, Nashville, Tennessee is totally booming!
We now have entry to so many extra alternatives than we might have if we stayed in Illinois — some little and a few huge.
For instance, one in every of my sons was in a position to be a part of the golf crew in sixth grade, which might be unparalleled after we lived in Illinois since no crew existed.
He loves golf and it has been such a blessing for him to work on his sport and get entangled in a faculty sport, and I’m so grateful I used to be in a position to give him that chance.
We now have additionally been in a position to join with extra entrepreneurs we have now issues in frequent with, and generally within the craziest methods. For instance, I’ve a extremely good pal named David Molnar who’s a photographer.
I met him by means of a private finance blogger pal I already had and I additionally knew that David was pals with Josh Axe, the founding father of DoctorAxe.com and the co-founder of Ancient Nutrition.
Josh was somebody I wished to satisfy as a result of he had an identical profession trajectory I did. Whereas he was initially a chiropractor, he ultimately stop his observe to work on his on-line enterprise.
I figured I’d meet him ultimately since he additionally lived in Nashville, however lo and behold, we found our new next-door neighbor was the COO of Historic Diet — one in every of his firms!
It’s simply loopy what number of extra entrepreneurs stay on this space. There are such a lot of individuals I can join with and be taught from, and that’s one thing I used to be undoubtedly lacking.
One other Enjoyable Reality:
Dan from the nation duo Dan + Shay was my neighbor for some time, and he lived along with his household only a few doorways down. We wound up making pals along with his household and even went on trip with them.
Principally, none of this stuff might have occurred in Illinois.
The Backside Line
For those who assume taking over nearly $1 million in debt for an enormous transfer sounds loopy, I completely get that. However after I add up all of the blessings we received in return, I really feel assured shifting was one of many smartest selections we have now ever made.
We listened to the nudge God gave us, and we put our fears apart to maneuver towards one thing new — one thing higher. Alongside the best way, we realized that generally it’s important to get out of your consolation zone to get what you really need.
And time and time once more, I’ve realized you usually have to surrender one thing good to get one thing nice!
After I go searching at our Nashville dwelling and our children who’re actually thriving, I wouldn’t change a factor.
I could have a home fee now, however I’ve a lot extra.