It's not completely irrelevant, especially if you're planning to move back eventually. If you're a decent software engineer, living in North Elbonia, making $2

It's not completely irrelevant, especially if you're planning to move back eventually. If you're a decent software engineer, living in North Elbonia, making $20,000 / year, that's just enough to cover mortgage on a $100,000 house and live. In 30 years you've got a house and that's it. Or you could move to the Silicon Valley and make $400,000 / year and that's just enough to cover mortgage on a $2,000,000 house and live. In 30 years you've got a house and that's it. But when you sell your house, move back to North Elbonia, and buy a house there, you've got $1,900,000 banked. I'd take that deal.