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/biz/ - Business & Finance

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12250870 No.12250870 [Reply] [Original]

There are two people who get hired for the same job in different places.

Person A who lives in midwest: makes $100k, spends $40k, saves $20k

Person B lives in San Francisco with the same standard of living: Makes $300k, spends $120k, saves $60k.

Who is better off? Who will retire sooner?

>> No.12250874

Person A

>> No.12250877

the guy who saves more, obviously. he can just move and retire in the low cost of living area sooner.

>> No.12250880

>>12250870
midwest, to stay away from dare i say negro?

>> No.12250890

The person who lives in Seattle, makes $280k, spends $60k, and saves $150k.

>> No.12250892
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12250892

>makes 100k, only uses 60k
>makes 300k only uses 180k
The fuck is happening to the rest of the money dumbfuck?

>> No.12250903
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12250903

>>12250874
so they stay at the same job forever? no advancement? what even are the time variables? are they 25 or 35?

stupid ass question with missing info. disliked and downvoted.

>> No.12250904
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12250904

>>12250892

>> No.12250907

>>12250892
Imagine not knowing what taxes are and calling others dumb.

>> No.12250912

>>12250903
>what even are the time variables
Until they have enough to retire

>> No.12250913

>>12250870

And people from cheap countries who make 20k EUR per year and can't save shit. God I need to move out of this shithole...

>> No.12250917

>>12250870
the guy from the midwest who makes 80k

>> No.12250924
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12250924

>>12250907
>Imagine paying 40% tax and thinking you will ever make it

>> No.12250928

Person A because person B dies at 40 from city/traffic stress

>> No.12250934

>>12250924
Damage controlling because you didn't understand taxes

>> No.12250956

>>12250934
>>12250892
imagine being so terminally autistic you cannot answer a simple scenario question without sperging out over taxes.

>> No.12250965
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12250965

>>12250912
subjective as fuck. the brainlet test would be actually trying to figure out your stupid question with any kind of accuracy given 3 static variables in a highly dynamic environment over an unknown and extended time period.

>> No.12250997

>>12250965
>amount of money to retire is subjective
It's a number retard, how is a number subjective? If you can't derive this number, you fail the brainlet test, sorry

>> No.12251060

>>12250870
Who is better off? Hard to say, I don't know what that level of spending will get you between midwest and san fran.

Who will retire sooner? Person B since they can invest more so compound growth will see larger gains, then they can move to midwest and downsize for lower expenses.

This assumes both stay wagecucking though, person B having $120k in cost of living expenses means they'll have a much more difficult time starting their own business, so from that point of view person A is better off.

>> No.12251075

>>12250997
do you even know what subjective means? each person could have a different amount in mind to retire. A might want $500,000 and B might want $300,000. there is no staple amount mentioned so the number is arbitrary and subject to ones opinion on what they need and want. you know you're question is stupid, you have to.