Author Topic: Would you move to one of the Most Expensive Cities in the World?  (Read 16784 times)

Josiecat

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Re: Would you move to one of the Most Expensive Cities in the World?
« Reply #50 on: October 24, 2014, 10:00:07 PM »
I say go and have an adventure for a couple of years.  The US will still be here when you are ready to come home. 

AlanStache

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Re: Would you move to one of the Most Expensive Cities in the World?
« Reply #51 on: October 27, 2014, 08:39:12 AM »
re taxes: yes and no, have not dealt with this myself but seems like it might suck the first few years but then once you know what you are doing would be easier?  Are there coworkers you can ask about the specific hassle of this?

re travel in Europe: yes you can go bum around post FIRE but that will take so much more effort and cost (flights at least) much harder than jumping on a train during a long swiss holiday weekend to hit up XYZ city for a few nights in a hostel or Das Motel Sechs.

pom

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Re: Would you move to one of the Most Expensive Cities in the World?
« Reply #52 on: October 27, 2014, 09:31:40 AM »
Switzerland is great, my wife and I are thinking of moving there in the next few years.

Did you consult a tax expert? I had a green card a few years back and with a salary of 120k in France I did not owe anything. Of course France has much higer taxes than Switzerland so the foreign tax deduction would be lower in Switzerland.

JoJo

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Re: Would you move to one of the Most Expensive Cities in the World?
« Reply #53 on: October 29, 2014, 04:39:46 AM »
Switzerland is great, my wife and I are thinking of moving there in the next few years.

Did you consult a tax expert? I had a green card a few years back and with a salary of 120k in France I did not owe anything. Of course France has much higer taxes than Switzerland so the foreign tax deduction would be lower in Switzerland.


The company provided a net tax calculation of my current salary vs. the new & the tax effect via one of the big accounting firms who would do my taxes the first year of the job.  I don't think they factored in the current $20K or so deductions I get with my 401K and HSA so I think I'm even in a slightly worse spot taking the job than they show.

I thought of a few more pros for the two jobs:

Option 1 (stay in US) - probably easier to go to a part time, consultant basis after a couple years
Option 2 (Switzerland) - probably better health.  I struggle with my weight and food in the US and always seem to lose weight when I travel abroad.  And with food so expensive hopefully that will curb my desire to scarf down a bag of potato chips.

JoJo

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Re: Would you move to one of the Most Expensive Cities in the World?
« Reply #54 on: November 14, 2014, 05:50:24 PM »
Last update:  I ultimately turned down the swiss offer.  With the promotion in the US, the net cost to my annual savings by living in Switzerland would be more in the $30,000 range.  The US opportunity will allow me to spend part of the year in NYC all expenses paid and work with some good people.  Now I'll just have to wait to early retirement to enjoy life outside the US... but hopefully take some kick @ss international trips with the money I'm making now!

Ricky

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Re: Would you move to one of the Most Expensive Cities in the World?
« Reply #55 on: November 14, 2014, 06:59:09 PM »
I think you made the right choice. Although, assuming you aren't married (what it sounds like), it may have been fun to make some more interesting memories.

I wouldn't, myself, have not went based solely on the $30k loss in savings, considering your current stash and your rate of savings already. But maybe the tax implications were too cumbersome to have to deal with.

I'm wanting to move to the Seattle area myself or PNW in general since I can't think of a better place to be. Just don't know if I can handle the constant rain!

JoJo

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Re: Would you move to one of the Most Expensive Cities in the World?
« Reply #56 on: April 09, 2015, 06:44:36 PM »
I just want to update on this if anyone has any interest or in case they come across this in their future decision making.

Overall I'm really happy with my decision.  I feel appreciated in my new job.  I made a trip to the midwest in January and NYC in March and had a good time meeting my co-workers that live elsewhere in the states.  I'll be going to NY a few more times this year.  I got a huge bonus in March that is banked and my net worth has increased quite a bit.  I'm filling a couple positions so hopefully my team will even be able to accomplish more in the near future.

Watching the swiss franc fall even further (I think it was around 1.08 dollars per CHF and now just above 1.02) means even more benefit of staying in the US. 

The weather's been great in the PNW so even the winter was easy.  I have really awesome vacations planned for July and November.  Life is good :)


Thanks for all the advice.  making the pros and cons really helped.
« Last Edit: April 09, 2015, 07:54:54 PM by JoJo »

Valhalla

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Re: Would you move to one of the Most Expensive Cities in the World?
« Reply #57 on: April 09, 2015, 07:16:32 PM »
Congrats, sounds like you made the right decision.  It was really 2 great options and either one would have been great.

I have worked overseas and I'm glad it was more temporary because you are so far away from family / friends.  If those weren't factors I'd have loved to have done more stints overseas.

Congrats on your FIRE journey. 

Much respect to a fellow MM'er on the same journey I am.  I also have net worth of 1MM and debating how long I want to be in this rat race.  It's tough to turn down good money though.

JoJo

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Re: Would you move to one of the Most Expensive Cities in the World?
« Reply #58 on: April 09, 2015, 07:58:15 PM »
Yeah, I'm definitely stuck in the one more year rut.  My ex BF keeps telling me to "make hay while the sun shines" and it really is shining now.  I want to do the long term travel soon and this will definitely allow me some splurges and experiences I wouldn't have if I just retire today.