<p>makes some very good points, especially on the matter of cost of living.</p>
<p>I am intrigued. Can one say that a high cost of living is actually one form of consumption, so that, in effect, one earns a higher income, and lives in a high cost area because it is actually worth it? At least in the US, if may be argued that cities like San Francisco, New York and Boston cost so much because, well, for many people, the high taxes and high prices come with benefits, such as superior cultural environments (so the high taxes go to subsidize the artists that make such environments possible).</p>
<p>This is purely hypothetical; maybe someone can prove or disprove it with actual data. If this is true, however, then one should not factor out the cost of living from one's total income when trying to compare one's true financial well-being.</p>
<p>But yes, financial well-being is not the only measure of success, that's for sure.</p>