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This is very bad advice. 130k in low COL is absolutely not equal to 400k in Bay. People generally cap their housing expense to 30% salary. So that may give you
by dmode 7y ago
This is very bad advice. 130k in low COL is absolutely not equal to 400k in Bay. People generally cap their housing expense to 30% salary. So that may give you a mansion in low COL and a 3 bedroom townhome in bay, but the remaining 70% goes very very far. Remember vacations, Tesla, electronic goods, in n out, cost the same no matter where you live.
- monoideism 7y ago> 130k in low COL is absolutely not equal to 400k in Bay It's amazing to me how little people read comments. They latch onto one idea, and then respond to that. I mentioned - 3 times! - in my original comment that they were not equivalent, but only much closer than they appeared at first glance because of COL. In light of all the responses above, many of which were enlightening to me, I stand by that assertion.