As tis seems to be the correct forum for my question, I’ll post it here:
I’m a German film composer (with a Masters degree in film scoring, if that’s worth anything in the business) and a high school teacher (music and English). I have a wife (interiour architect) and a for year old daughter. I live in Germany, I own a house here, we have a stable and comfortable income. In all: we’re doing great here. However, for the life of me , I need to move to L.A. We are both very focused and dedicated to make that great move in our lives, and we won’t stop until we’ve reached our goal. My question is:
If I sell my house here, I will have funds of around 700k dollars. How long will that money last in L.A. to keep my family alive (hopefully more than just alive), and what is the average time it might take me to get some kind of decent income? Or maybe s.o. can share some advice on how best to invest that money.
Plan B: Instead of selling the house, I could let it out and generate a monthly income of about 2k $ from rent. I would then only have something like 60k in the bank.