Quote:
Originally Posted by Sean
...which is equivalent to making about $73,000 in Cleveland.
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That's assuming that both people purchased the same types of things. If the $500K earner in NYC chooses to be a fool and buys or rents in Manhattan, living by himself, with no other tenants to help, and chooses to own a car for which he has to pay $15K a year in parking, then yeah, his cost of living will take a big hit. But a more intelligent person would find a way to live more frugally so that he or she could save a sizable chunk of that $500K.