Planning to retire and live on a fixed income? Here are some new “hometowns” where maximum dollar stretching is possible while simultaneously living an enjoyable life.
Make Strategic Retirement Move
According to a recent GOBankingRates study, the average cost of monthly expenses for people ages 65 and older (rent, groceries, healthcare costs, etc.) is $1,982.25.
Living in a place that will suit your needs without passing the threshold of $2,000/month requires some strategic thinking. Here are some places to consider that may be “just for” you and/or your clients.
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13 Cities to Retire on $2,000/Month
- Shreveport LA
– monthly expenses – $1,498.65
– groceries $374.77/month
– rent – $730/month
– livability – 65
- Lubbock TX
– monthly expenses – $1520.60
– rent – $690/month
– health care – $452.12/month
– livability – 68
- El Paso TX
– monthly expenditures – $1,562.92
– rent – $810/month
– health care costs – $374.04/month
– livability – 74
- Tucson AZ
– monthly expenses – $1,584.91
– health care costs – $351.60/month
– 20% of population 65 or older
– livability – 65
- Laredo TX
– monthly expenses – $1,588.77
– groceries – $379.71/month
– only 9% of population 65 or older – harder to socialize
– livability – 71
- Cincinnati OH
– monthly expenses – $1,640.38
– groceries – $401.95/month
– health care costs – $368.43/month
– livability – 68
- Columbus OH
– monthly expenses – $1,680.50
– health care costs – $373.61/month
– groceries – $406.89/month
– livability – 73
- Indianapolis IN
– monthly expenses – $1,709.95
– rent – $950/month
– groceries – $385.48/month
– livability – 65
- Corpus Christi TX
– monthly expenses – $1,718.34
– health care costs – $436.16/month
– 15% of population 65 or older
– livability – 69
- Oklahoma City OK
– monthly expenses – $1,725.63
– health care costs – $505.62/month
– rent – $830/month
– livability – 69
- Greensboro NC
– monthly expenses – $1,779.02
– health care costs – $484.48/month
– 16% of population 65 or older
– livability – 66
- Des Moines IA
– monthly expenses – $1,820.63
– rent – $930/month
– health care costs – $495.27/month
– livability – 75
- Lincoln NB
– monthly expenses – $1,878.24
– rent – $940/month
– health care costs – $537.11
– livability – 78
(Make sure to “update” these dollar amounts to account for rising inflation and monthly prices.)
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Thanks to yahoo and GOBankingRates.
