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> The cost of living in Louisville is 7.6% below national average. The cost of living in NYC is 123.8% above national average. In other words, I’d need to earn
by pavanky 14y ago
> The cost of living in Louisville is 7.6% below national average. The cost of living in NYC is 123.8% above national average. In other words, I’d need to earn over twice as much money to maintain the same quality of life in NYC.
This is false. You only need to make twice as much as you are spending. I don't think anyone making something like $100k in Louisville would be spending all their money and then would need to make $220k in New York.
- scottshea 14y agoActually I would argue that over twice as much is not enough. Having made a similar comparison living in Phoenix the cost of 'extras' in the New York metro area is much higher. If I wanted to invest, send my daughter to a private school or go out to eat is dramatically higher. And, what the heck do you think happens to the extra money? It goes away? The difference between 100k and the cost of living in Louisville is hopefully invested back in his own family. Even if it is wasted he is still using it.
- pavanky 14y agoI would assume cost of living would include things like sending your children to school and so on, or going out on a fun weekend. If it does not, then I am sorely mistaken as what "cost of living" is. As for investing money back, I'd assume you would have some kind of an investment account (for future, retirement or even your child's college fund) that would provide the same returns no matter where you are.