Written by After decades of living in your 4-bed, 2-bath home in expensive Orange County, you decide to sell as the market is hot. Your house is in a desirable neighborhood and sells for $1,250,000, which is over double what you paid for it back in the 90s.
With proceeds from the sale, you opt to buy a home in cash in Riverside to avoid high mortgage rates. You purchase a spacious 4-bed, 2-bath on 5 acres for $800,000. This provides room to grow fruits, vegetables and enjoy nature – something you missed out on in urban Orange County.
You invest the remaining $450,000 into buying an absentee-run frozen yogurt shop franchise. The purchase price and renovations total $300,000. Though you leave daily operations to the experienced managers, you oversee the business remotely. It nets over $100,000 in annual passive income – crucial for your retirement.
By paying 100% cash for the Riverside home and absentee business, you avoid large monthly payments. Your cost of living is also 40% lower in Riverside compared to Orange County. Overall, selling at the peak and making smart re-investments sets you up for an enjoyable, low-stress retirement with financial security. The move allows you to live a higher quality of life in your preferred setting.
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