Quote:
Originally Posted by indes
Is cost of living as big of a deal for these guys when they're already buying the best of everything? I'm curious what the difference is between the high-end stuff, when you look at cost of living. Like Italian center groceries vs whole foods, private chef wages, luxury cars - does it make a huge difference once you're in the luxury world?
Honest question as I wonder if these guys even worry about that or just consider it a sunk cost as to wherever they go.
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I'm one who thinks this isn't as big a deal as people make out to be, so take that with a grain of salt. But if 5-10% is a factor for someone making 8 million, then why not for someone making 3 million. And this argument goes both ways: if you're living luxury life and it doesn't make a huge difference because you have the big bucks, who cares if you're taxed a bit more?
Anyways, I just think people want to live where they want. Plenty of high priced free agents take big contracts in cold, high tax locations. I don't think taxes is a major determinant here.