How much really is the difference between living in HCOL vs MCOL area?
I live in HCOL (DC suburbs) area. Over the past several years I've transitioned to (essentially) fully telework job situation. (I run the business so no one besides me can change this in future.) I have the opportunity to move to a lower cost of living area, if it makes sense, and continue to work remotely in my existing business, with occasional trips back to take care of in-person needs. (I'll likely work full-time for another 5 years then part-time for at least 5 more). Question is how much of a practical benefit it is to make a change like this rather than ride it out here till retirement. I like, but don't love, this area, so I'm happy to stay here or not. From a purely financial perspective, does anyone have a sense of the real cost savings of moving to a lower cost area? While some of this is easily quantifiable (eg differences in SALT), I suspect that they're are many more nuanced and "softer" differences that aren't as easily captured or quantified before the fact. I'd love to hear from those who have done so and can offer practical experience and suggestions. Thanks all for your insights....