People (especially Europeans) always say something along these lines, that they earn less but they also have a lower cost of living so it’s ok. But it’s not a

People (especially Europeans) always say something along these lines, that they earn less but they also have a lower cost of living so it’s ok. But it’s not a good trade off. Having a lower cost of living does not give you nearly as many options as simply having more cash. A person with a high salary can always cut his standard of living and go into a high savings mode if they are planning some big money moves.