I've seen a number of blog/reddit posts about where to live after you've hit FIRE, but where should you live when working towards it?
In my circumstances, I work remotely in tech. GF is a physical therapist and can get a job most places. We're considering moving almost anywhere for 3-5 years while we knock out some monstrous student loans ($230k).
Assuming a monthly budget of $3,000 and an income of $160k (both combined), does it make more sense to live in a state like Washington than a state like Oregon (WA is no state income tax while OR is no state sales tax)?
My math is...
Oregon
Earner 1 - $95k, take home is $63,623 ($31,377 to taxes).
Earner 2 - $65k, take home is $45,828 ($19,172 to taxes).
Total: $109,451 take home and $50,549 to taxes.
Sales tax on $36k in spending is $0.
Washington (Seattle)
Earner 1 - $95k, take home is $70,844 ($24,156 to taxes).
Earner 2 - $65k, take home is $50,639 ($14,361 to taxes).
Total: $121,483 take home and $38,517 to taxes.
Sales tax on $36k in spending is ~$3,600 at 10% rate.
Net difference in take home pay is $12,032. Minus sales tax paid in WA, net is $8,432 in favor of Washington. Any increases in income would net ~8% gain in WA vs. OR provided the monthly budget remained the same. My conclusion thus far is that for frugal, FIRE-minded people, saving on income tax is more worthwhile than saving on sales tax (at least once a certain threshold is reached in income).
Any factors that I'm missing? Where else should be considered that would be more affordable but still have a decent quality of life?
