It’s personal preference but I would say a good trigger is when you start complaining about how much you are paying for rent and how youre surrounded by kids that have no respect :)
I think this also depends on career opportunities. Could you potentially out earn the COL in the fun city? Are there jobs that fit your desired career path in your home town? Is the dating pool better in either one?
At 28, being closer to family has become more and more important. I’m in a similar dilemma and while location/ fun still matters , it doesn’t matter as much as it once did and being close to family feels more and more important, especially during times like this.
Write out pros and cons of each and the assumptions you’re making for each as well. Challenge your own assumptions.
For example - is LCOL city going to translate to more net savings when you factor in opportunities for growth and a possible pay reduction to relocate to a LCOL city? (I’m not saying yes or no, check for yourself)
What about lifestyle, happiness, etc? What about side hustles and investment opportunities?
I’ve mulled over this very thing over the years - my personal opinion is as such:
I’d rather figure out how to make an extra $10000 a month in income than uproot my life to save $3000 a month in expenses.
Growth mindset vs scarcity mindset. I’d rather make more money than try to be ultra frugal. This assumes that you will actually figure out how to increase income when you stay in the city you want to be in.
Make sure you have the right goals in mind. You've stated 2x that you're considering moving because, when adjusted for COL, you make less than new staff in your hometown. Moving to satisfy your comparative insecurities/desires seems misguided, and that mental boost will be very fleeting. Saving $x on rent/food and seeing family will be cool for a few months, but soon enough, you'll be bored and single and your issues will change.
Me and my husband are planning to move to a low COL city to be closer to family when all this is over. We’re also married, wanting a house with more land and to be closer to family when we have kids though so we have different priorities right now than you probably do. Definitely depends on your priorities and opportunities
If you're enjoying the HCOL city, stay and find ways to budget so you can save. We have high paying jobs, so it's not like it isn't possible.
However if your goals are more around buying a house or saving for retirement, then move out of the HCOL area. But at 28 and single, this is the time to really enjoy life. If you can do that AND save (albeit at a slower rate), I wouldn't move.
And this from a 30yo super saver who lives in a MCOL area with a house, but wishes I had a bit more fun.
The one caveat I will give is the COVID situation. How much enjoyment will you get out of the city right now? So perhaps this is the perfect opportunity to reconnect with family for a year or 2 and move back to the city (or not) when things are really back tod normal?
I’ve been with my family for 8 weeks now so that’s why I’m questioning this. One big issue for me is when I adjust my salary for COL I make less than a new staff in my hometown. It’s not a good situation to be in lol.
I agree though. I would like to have more fun when I’m young, then maybe move back at a later point in life.
I’ve been thinking about this. Many of my hobbies/interests lie within cars, woodworking, boating, etc. I’m not really one who goes out often and I don’t have many friends in the higher COL city, mostly due to working a lot. All my friends are in my hometown and there I could afford a house to do my hobbies, but earnings potential would definitely be lower, although I could afford everything I want/need easily because it’s so damn cheap there. The city I currently live in has about a 258k population and my hometown is around 60k.
Do you want to have fun or do you want to save money?
Conversation Starter
It’s personal preference but I would say a good trigger is when you start complaining about how much you are paying for rent and how youre surrounded by kids that have no respect :)
Pro
I think this also depends on career opportunities. Could you potentially out earn the COL in the fun city? Are there jobs that fit your desired career path in your home town? Is the dating pool better in either one?
What are your priorities right now?
At 28, being closer to family has become more and more important. I’m in a similar dilemma and while location/ fun still matters , it doesn’t matter as much as it once did and being close to family feels more and more important, especially during times like this.
Life’s about choices, right?
Write out pros and cons of each and the assumptions you’re making for each as well. Challenge your own assumptions.
For example - is LCOL city going to translate to more net savings when you factor in opportunities for growth and a possible pay reduction to relocate to a LCOL city? (I’m not saying yes or no, check for yourself)
What about lifestyle, happiness, etc?
What about side hustles and investment opportunities?
I’ve mulled over this very thing over the years - my personal opinion is as such:
I’d rather figure out how to make an extra $10000 a month in income than uproot my life to save $3000 a month in expenses.
Growth mindset vs scarcity mindset. I’d rather make more money than try to be ultra frugal. This assumes that you will actually figure out how to increase income when you stay in the city you want to be in.
That’s a really good point! I definitely have a growth mindset too.
Make sure you have the right goals in mind. You've stated 2x that you're considering moving because, when adjusted for COL, you make less than new staff in your hometown. Moving to satisfy your comparative insecurities/desires seems misguided, and that mental boost will be very fleeting. Saving $x on rent/food and seeing family will be cool for a few months, but soon enough, you'll be bored and single and your issues will change.
Personal preference
I’m 27 and have a gf. Personally wished I could have tried the single high COL city life
Pro
26 and single. Kind of wish I had the gf and lcol of life
Me and my husband are planning to move to a low COL city to be closer to family when all this is over. We’re also married, wanting a house with more land and to be closer to family when we have kids though so we have different priorities right now than you probably do. Definitely depends on your priorities and opportunities
If you're enjoying the HCOL city, stay and find ways to budget so you can save. We have high paying jobs, so it's not like it isn't possible.
However if your goals are more around buying a house or saving for retirement, then move out of the HCOL area. But at 28 and single, this is the time to really enjoy life. If you can do that AND save (albeit at a slower rate), I wouldn't move.
And this from a 30yo super saver who lives in a MCOL area with a house, but wishes I had a bit more fun.
The one caveat I will give is the COVID situation. How much enjoyment will you get out of the city right now? So perhaps this is the perfect opportunity to reconnect with family for a year or 2 and move back to the city (or not) when things are really back tod normal?
I’ve been with my family for 8 weeks now so that’s why I’m questioning this. One big issue for me is when I adjust my salary for COL I make less than a new staff in my hometown. It’s not a good situation to be in lol.
I agree though. I would like to have more fun when I’m young, then maybe move back at a later point in life.
I’ve been thinking about this. Many of my hobbies/interests lie within cars, woodworking, boating, etc. I’m not really one who goes out often and I don’t have many friends in the higher COL city, mostly due to working a lot. All my friends are in my hometown and there I could afford a house to do my hobbies, but earnings potential would definitely be lower, although I could afford everything I want/need easily because it’s so damn cheap there. The city I currently live in has about a 258k population and my hometown is around 60k.