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The third is that if you live frugally in a super expensive metro, your absolute savings rate can be much higher than it would be in rural Iowa (well, covid cha
by opportune 5y ago
The third is that if you live frugally in a super expensive metro, your absolute savings rate can be much higher than it would be in rural Iowa (well, covid changed that a bit, but most companies still have “COL factors” on your comp). This is truer for single people, who can live a low impact lifestyle in a studio or 1bed apartment, no car, and taking advantage of office amenities than it is for families.
- RhysU 5y agoThis. Saving, say, 10% of income is a whole different game in a HCOL area vs saving 10% in a low one provided that one retires outside of the HCOL area.