I spent a yr in Hong Kong when I came out of school. While I made close to nothing, it significantly impacted how my future path forward. I’m so glad I did it even if it deferred wealth building by a yr or 2. You know, fun jobs when living in a shack is still bearable at a younger age =)

Correct, while Manhattan is stupidly expensive to live in (rent alone is twice my total monthly expenses in The Netherlands, or about four times rent-only), the salary I will be looking at is also significantly higher. Even though my savings percentage might not be the 40% it is right now, if I can double the savings amount it’s worth it. Plus, I get to live in the coolest city on the planet. Definitely looking into doing this in the next couple of years. I only have to convince the girlfriend now… 😉

You nailed it – the AMOUNT of income you save is more important than the PERCENTAGE of income you save because you can use those dollars to buy more freedom in a LCOL area once you decide to stop working. Manhattan is one of the most expensive cities in the U.S. but I imagine it compensates residents with fairly high salaries, depending on the industry you’re working in.

I really like the strategy of living in a pricey city just to earn a high salary for a few years. After all, it’s not about your savings rate as much as the actual amount you’re able to save each year, since when you move to a lower cost of living area, you’ll still have all those dollars in your bank account.

I love that strategy – living in a cheap place with low expenses despite earning a higher income. That’s the path to real wealth-building. Also kudos to you for finding joy in things that are free (the outdoors, the beach, farmers market, etc.), that’s one of the best ways to keep spending low!

I’m from The Netherlands, but am considering (loosely) to move to Manhattan, NYC in the next couple years, for two or three years. The main reason is the life experience of living in a metropole for a couple years, but it would also accelerate my FIRE.

Doing quick back of the envelope math, my savings rate would probably be a bit lower than it is here in The Netherlands, but the pure euro or dollar amount saved would be higher in Manhattan, and that is money that I would bring back home when I return.

Interesting stuff for sure!

I really like the strategy of living in a big city to build your career and then moving somewhere else for cheaper cost of living. We’re still in the Bay Area mainly because of family and friends, but this career opportunity is another reason. Our plan is ultimately to stick it out here for a few more years and then move a few hours north to a cheaper city. This will lead to lower salaries, but I think even higher quality of life.

One thing I did when I moved to Sydney was to change my expectations compared to when I lived in Chicago. In Sydney I had a higher income along with higher cost of living, however, I changed my expectations to keep my savings rate and savings numbers higher than they would’ve been in Chicago. I lived in an un-renovated 1-bedroom apartment, rarely went out to eat and spent most time just enjoying the outdoors. So my living situation didn’t seem as “nice” as Chicago, but I was living by the beach with a farmers markets a few blocks away.