If you use that new-found freedom to pick an area with a lower cost of living though, you're going to get your salary cut.
My salary is how much money I'm willing to take to work for the company. If I can live somewhere cheaper, that number is lower.
Depending on the location, they could just let you go. Imagine moving from Idaho to NYC. Drastic increase in cost. If an employer needs to compensate for that, I'm pretty sure theyll think long and hard whether its worth it.