When I first read your title, I thought you were taking a $7 million pay cut $7000 K = 7 million. I was ready to tell you you were crazy and to just work 2 months and then retire.
On a more serious note, it’s ok to take a pay cut if the benefits make up for it, that is if you can save more than $7k in expenses. Ultimately, it’s not the salary that is important, it’s the savings amount. So, for example, if taxes are lower in AZ, and rent is cheaper, and you can do away with the car, and you don’t need to take your $10k annual vacation because your lifestyle in AZ is less stressful, then your savings rate may actually go up even though your gross salary is $7k lower.