Who's richer: $250k/year in Toronto vs. $150k/year in small town?
A friend of mine has two options:
- Earn $150k/year working remotely from a small town
- Earn $250k/year working in downtown Toronto
He's got a wife (stay at home mom) + 2 young kids, so he's the sole income earner.
The question: which option will make him wealthier 5-10 years from now?
(And yes, there's obviously more to this decision than just money, but let's just focus on the financial side for now.)