A high cost of living area is worth it if it comes with a proportionally higher salary. For example, if you spend 25k/year in a LCOL area and make 50k/year, then move to a HCOL area and spend 50k/year but make 100k, you’re able to save 2x as much as before despite have the same equivalent salary. This will get you to retirement much faster, at which point you can switch back to the LCOL area.
Of course, the numbers are far more complicated than that because of things like taxes, but you get the idea.
A high cost of living area is worth it if it comes with a proportionally higher salary. For example, if you spend 25k/year in a LCOL area and make 50k/year, then move to a HCOL area and spend 50k/year but make 100k, you’re able to save 2x as much as before despite have the same equivalent salary. This will get you to retirement much faster, at which point you can switch back to the LCOL area.
Of course, the numbers are far more complicated than that because of things like taxes, but you get the idea.