Quote:
Originally Posted by Ecky
If I read this right, what you're saying is that the salary increase was from what was effectively a promotion and not just from taking a similar job in a higher-pay area.
Even so, you transferred from AL or OR, and I'd wager that even though your housing costs doubled, you're likely putting more in the bank every month.
Certainly not all more expensive areas pay enough better than all less expensive areas, but I find it's generally the case that you pay more to live in places you can earn more. And, that it usually pays off if you can earn those salaries.
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Both of us moved laterally into similar level jobs. Those similar jobs pay about 15% more here than they did in Alabama.
We are saving a little bit more in dollars today but less as a percentage. There is also 7 years of inflation to factor in.
Mortgage in Alabama: $750 per month on a 1500 sq ft house (3 bed / 2 bath) with 2 car garage and 200 square foot attached workshop with HVAC
Mortgage in Oregon: $1325 per month on a 1000 sq ft house (3 bed / 1 bath) with 2 car garage. Needs all the T1-11 siding replaced and we had to replace the HVAC when we bought it.
The last year in Alabama the breakdown was:
29% Living Expenses
18% Taxes
53% Savings
2019 in Oregon was:
31% Living expenses
22% Taxes
47% Savings
I'm not complaining, we are still doing great but we would likely reach retirement goals quicker if we would have stayed in Alabama. However we are much happier in Oregon.