Considering a Move to Seattle, USA: Weighing Life in Europe vs. the US

Hi everyone,

I am 31, married but without kids yet, and I am the sole breadwinner in the family.
I have been working as a software engineer for 11 years and recently received an offer to move to the USA with a total compensation of 290k USD. I've wanted to try living in the US for a long time, but I’m starting to realize that the cost of living there is no joke, so I have some doubts.

I lived in the UK for 2 years previously but had to move because of the high cost of living. At that time, my total compensation was around 170k USD. While I found the taxes and cost of living ridiculous, I really liked the country.

Currently, I’m in Spain and feeling a bit bored. I work remotely with a total compensation of about 150k USD. Taxes here are similar to those in the UK (around 40-45%), but the cost of living is about half as much.

I also invest, but what frustrates me is that I have to pay capital gains taxes on every dollar I earn. There are no tax-free allowances like ISAs in the UK or IRAs in the US, which limits my investment potential. On top of that, there's a wealth tax for assets above approximately 700k or 1M, which is another burden.

I feel that living in Europe will eventually lead to stagnation in my career. As a remote contractor, I may stay in the same position for years without real growth opportunities. While my current income is quite sufficient, especially for Spain, the issue is: the more you earn, the more you pay in taxes.

There are also risks that I’m concerned about. I’m Ukrainian, and due to the war, I cannot return home, which makes my situation a bit fragile. Losing my job would lead to some complications, though they are manageable. My long-term goal is to build an investment portfolio that can generate enough passive income for me to live frugally, even without a job. To achieve this, I need to maximize my income now.

So, my question is this: given my situation, would you move to the US with a TC of 290k USD? This offer is from a FAANG company, where there’s potential for future growth.