Ask HN: What's your income worth to you?

(Note - Posting here with a new account that doesn't lead to my well-known online identity.)

I have a chance to join a small, well-established (10+ years) company as an employee. This is a company that doesn't hire very often - only every couple of years. It's run very conservatively but successfully. They aren't big money makers, but they get by and do it while doing what they love. After going through my share of startups, where self-hate (working to death with crazy deadlines) was mistaken for passion, this crew seems a very welcome relief.

The company isn't a software company by nature, but they create art assets for many software companies. They are looking to expand more directly into that market and have a lot of fun projects in mind - they just want a coder of their own. I've worked with them before, and the talent at the company is quite incredible. Many programmers I know (certainly myself included) would die to be working with a team of asset creators such as this on staff. (In my experience a lot of startups are run by tech people who hire other tech people and then contract out the creative bits - this situation is the reverse and it seems like it'd be awesome.)

The trouble is that the job offer is low - 60% of my previous job (which was itself a reduction from the job I had before that). I believe it's as much as 50% of the going rate for software engineers in that area, even.

I'm presently now between jobs (which is why the offer came in the first place - they knew I was now available). If I put out feelers, I would expect I can find other offers for considerably more than theirs - but I highly doubt the experience of this place could be matched so easily. What is that worth?

It's an added concern because they want me to relocate and work with them in the office. I actually would like to do that. I'd kind of like to work with people in person again. After 3+ years of remote work, it can get lonely. But it feels very hard to personally justify relocation away from family to a job that pays so much less!

And yet it seems clear that deep down inside, I would love to try it. If I didn't want it, I wouldn't be agonizing over it in the first place. I suppose I'm just looking for advice or encouragement or perhaps shared stories of others who have given up a much larger income in search of... stability/happiness/adventure/change.