Still missing the point. Consider the common case of earning and saving in NY and retiring to FL.
One has to distinguish cost of living for a non-saver from cost-of-living for a saver.
One has to distinguish cost of living for a non-saver from cost-of-living for a saver.
Look, as someone said elsewhere, this is an impossible problem. You have too many factors to figure out. Have a family? Want to own a house instead of rent? Do you need a car? What lifestyle do you maintain?
The point here is that we're trying to assess what it would cost to maintain a similar standard of living in two different cities. Food. Transportation costs. Housing. Rents. Healthcare. Forget 52" TVs and trips to Paris for the time being.
>> what it would cost to maintain a similar standard of living in two different cities.
Someone who saves $20k/year or spends large amounts on travel would have a much higher standard of living in SF than Minneapolis.
"I have a wife and two kids. I want to own a 3 bedroom house with a yard. I need a car, and I drive 15,000 miles a year. We eat <x> number of meals at home each week, and <y> at restaurants. We do <z> things as a family including movies. This takes up 80% of our net income."
Okay, now what would that cost in Minneapolis, and what would that cost in San Francisco? That's all we're trying to ask.