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Time off and a healthy lifestyle are driving some young Americans to Europe: 'You are a person first and a worker 2nd'
(www.businessinsider.com)
this post was submitted on 07 Jul 2023
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The way I do it is I put a price tag to any benefits I get. I'm currently in Europe but working remotely for Americans. But let's say I were in the US. Let's say I'm making six figures. Rent in Madrid or Paris is 1-2.6k for a flat. Rent in the US is maybe 3-4k for a flat. But in Madrid coding jobs are 1.5k-2.5k a month. In the US you get 7-12k a month with the same job. In Madrid you're left with 500-1500 to live with and in California you're left with 3-7k a month to live with. Let's say your expenses are double, or even triple, in California than in Madrid. Let's say you live in luxury, you spend 1k on food, 500 on clothes and 500 on transport and other expenses in California. You're still left with 1-5k a month for savings. In Madrid you're left with 0-900.
Even making a top salary and living frugally in Madrid won't net you as much in savings as working in a us capital. And then when you want to retire your savings are worth the same anywhere in the world. You can go and retire in a Madrid town if you want. Your degree of comfort before may be the same, but you can save so much that I don't see how it's worth it to work for European companies if you're able to work for American companies, whether living in Europe or in the US.
If you work for European countries you're usually entitled for retirement money so you don't have to save a huge amount (although the more the better obviously). I'm a programmer and I've stayed in many countries and travelled even more as some kind of a digital nomad. I'm about to move to spain because it's just an awesome county with very nice people. Even though US companies are the top paying one, I'd never work for one as long as I can't do it 100% remotely from Europe. I like travelling to the US a lot but I'm also very happy when I'm back in Europe.