to move or not to move?

[bevjames]

I have been offered a great position, my dream job really, on the west coast. My salary would more than double, but I would be living in a very, very expensive city. I have about $20,000 in debt, including a car payment, and the new salary would give me the opportunity to pay it all off quickly and save, save, save. BUT I am very comfortable and happy at my current job, and absolutely love the city in which I live. Not sure what to do.

[daverobev]

First step is to talk to your current employer. If they like you they could well significantly up your pay to keep you.

[Joet]

move, I think it's more than safe to say that a 2x salary would offer you more/better opportunities to reach FI sooner , at a possible reduction in quality of life [commute, roommates]

Who reaches FI faster? Someone saving 50% of 60k or someone saving 35-40% of 120K :)

[bevjames]

Thanks guys. I doubt my current employer will be able to come up too much with a counter offer. And I really could save an incredible amount of money with this new job.

[Paul der Krake]

I would move. Moving is exciting. YOLO!

/ducks

[olivia]

I would move for sure. I did the same thing 2 years ago (husband got a new job with a much higher salary) but we loved our current city.  However, the new city was great, too, so we took the plunge.  It's been great and the increase in salary will make it possible to reach FI much more quickly.

[Joel]

Would your cost of living double? Or would it just go up?

You need to factor in everything. Increased cost of living, increased taxes, increased travel to see family, and also increased happiness, increased career opportunities, and so forth.

I say go for it.

[Sunflower]

Would your cost of living double? Or would it just go up?

You need to factor in everything. Increased cost of living, increased taxes, increased travel to see family, and also increased happiness, increased career opportunities, and so forth.

+1

What city and what salary? There are a lot of west coasters on the forum who might be able to help give an accurate cost of living in the area. Also, check craigslist to see what apartments are going for and kayak.com to see what average airfare is to and from the new city back home.

[bevjames]

It would be southern california, Irvine.

[Mint Chip]

Where do you currently live (general area)?  Irvine is very nice, but can be very expensive, compared to many places.

[Jamesqf]

It would be southern california, Irvine.

Don't.  There isn't enough money in the world...

[bevjames]

I would be moving from the Atlanta area. And what is so bad about Irvine?

[tooqk4u22]

Irvine is suburban hell but you can always rent an apartment near the beach.  Cost of living is much higher than Atlanta and so are the income taxes and car registration fees.  But if you live near the beach you will have an abundance of outdoor living (running, biking, swimming, surfing, fishing, kayaking, etc) for free.  Plus if you live near the beach you will not have to use heat or AC ever - big plus - this wouldn't be true in Irvine.