Skip to comments.Best Places to Retire for Under $40,000
Posted on 10/15/2012 8:38:16 AM PDT by US Navy Vet
Many baby boomers who haven't saved enough to retire well are contemplating delaying retirement. But if working into your 70s isn't possible (or appealing), moving to a place with a much lower cost of living can help stretch your retirement savings and finance a better quality of life.
A retirement income of $40,000 per year certainly won't go very far in Honolulu or Miami, but there are plenty of other places where it can fund a comfortable retirement lifestyle. If you're willing to relocate to a place with a low cost of living and affordable housing, this modest retirement income could give you access to interesting activities and top-notch medical care
(Excerpt) Read more at finance.yahoo.com ...
First colonized by the Spanish in the early 1700s, San Antonio now has an extensive 11,000-acre park system containing over 68 miles of trails and more than 50 golf courses. Yet housing remains affordable, costing homeowners age 60 and older a median of $1,155 monthly, or $398 if they have paid off their mortgage. Monthly rent for retirees is a median of $660. "In other places in the country, I would have gotten the same retirement money but my dollars go further here," says Lawrence Zepeda, a former U.S. Army Sergeant Major and safety manager who retired in 2007. An added bonus: There is no state income tax in Texas.
An hour north of here is Kerrville. Also on many lists as a top retirement location.
$40k? For a few years, then property taxes increase, utilities increase, gas to get to the doctors increases, etc.
The Federal Reserve’s job is to cause inflation. Until that beast is destroyed no one will ever find a fixed income to sustain them through the end of their life.
The only place on that list that I would even consider is San Antonio, and maybe Columbia, S.C. I don’t know anything about Columbia, so I couldn’t cross it off.
Squatting in a foreclosed home.
Low taxes, deer, turkey, plenty of fish.
Plenty of wood to fire your furnace.
Did I mention low taxes ?
As usual, these surveys demonstrate absolutely no connection with the reality most people are living, or any awareness of communities with populations under 500,000. Useless nonsense.
Right here in these United States....a less than $40K income will get you: EITC (if you have a dependent), SNAP, EBT (TANF), WICs (if you’re fertile enough to download one), and a host of other government programs (Section 8?)....
All you gotta do is one-stop online processing...they don’t really check assets - too many applicants. One will get you all.
That’s today, how about in 20 years? All kinds of retirees foundthe little places they moved to ate their savings later. We have a financial system in this country designed to take everything anyone has. Property taxes being just one of the evils.
I “retired(first time)” to the Omaha NE/Coucil Bluffs Iowa area and I pretty well like it. My Ultimate Retirment could be Grenada Island(Urgent Fury 1983 Vet).
We were in Branson last year and loved it — felt like we stepped back into the real USA. “More trucks than cars.”
Been to both. Columbia is nicer. Actually the only places I would flatly reject are St.Louis and Pittsburgh. Most of the small southern cities are nice places. Jackson, MS, Little Rock, and Augusta are just slightly down from Columbia and San Antonia, but MUCH superior to my rejects.
The best idea is to find a good small town within easy driving of these cities (say half an hour's drive) that has OK day-to-day amenities. Another poster has mentioned Kerrville close to San Antonio, which exactly fits that description, and which is one I am actively considering (turned 65 last month).
I'd be interested in hearing why you'd reject the others.
Liberals like to promote class warfare, but there is no greed greater than government greed.
Agreed. $40k is a pipe dream for us. Property taxes are taking more than 2 months of retirement. Health insurance keeps going up. All the utilities went up in September. Groceries, gas and everything else is going up daily.
BUT DOES IT HAVE A Country Kitchen Buffet
Gonna pay off the house, work as long as I physiclly can, and stay put.
I like where I am; I like what I do. And I’d like to have the money to spend on grandkids.
“I think you could ask the same question about any locale.”
Bingo! Now you’re getting it. Trying to run away to some place cheap only works in the short term.
If Yinzer take the suggestion n’@ to move to Pittsburgh I would suggest NOT living in Allegheny County (where the city is located)...instead look for housing in Westmoreland (where I live), Washington, or Butler counties. Low property taxes and its the part of PA that James Carville calls “Alabama.” Honest—it’s a great part of the country—right now we are in the full grandeur of Fall—the leaf colors are spectacular!!!