If your goal is to use new technologies, sure. Personally, I would probably never take a new job with a paycut. Also, are you aware that the COBOL market is so hot right now that companies are paying alot of money to bring devs out of retirement? Perhaps you should be looking at those opportunities. Save enough money and you can work on whatever technology you like at your leisure.

https://thenextweb.com/finance/2017/04/10/ancient-programmin...