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I don't exactly agree with the list. Austin, TX is very expensive.
ALBQ, NM and St. Louis, MO are bargain cities so is Pittsburgh, PA.
I would hate to live in Buffalo, NY because of the weather. I can't speak for other cities on the list since I don't know much about them.
I do know that you definitely could live in my hometown Little Rock, Arkansas off Social Security alone. It is one of most underrated southern cities IMHO.
Columbia SC is an excellent option. It has a lot going on and is surprisingly affordable given how well-developed it is though not sure how long that'll last as it's being "discovered".
I was expecting a bunch of Latin American locations, specifically Mexico, Panama, Chile, and Argentina. Outside of the rural areas of the South and Midwest, maybe certain areas of the Mountain West, I don't see how it is possible.
Columbia SC is an excellent option. It has a lot going on and is surprisingly affordable given how well-developed it is though not sure how long that'll last as it's being "discovered".
I visited both Columbia and Charleston, SC back in 2012. What a beautiful state! The state seems to be very affordable compared to Florida. I would rather retire to the beaches of SC over Florida, especially around Charleston and Hilton Head Island. Let's hope all snow birds keep flocking to Florida leaving SC a secret spot not discovered yet.
I was expecting a bunch of Latin American locations, specifically Mexico, Panama, Chile, and Argentina. Outside of the rural areas of the South and Midwest, maybe certain areas of the Mountain West, I don't see how it is possible.
Social security alone is doable for some people but maybe not for others depending on the amount.
According to social security snapshot for retired works the average monthly benefit is $1,305.44, the average spouse of retired workers receive $660.94 for a combined total of $1,966.38 for a couple.
Less than $2,000 for a couple I would panic.
The thought of having to live alone on $1,305.44 would leave me in a fetal position on the floor.
But social security isn't all low numbers.
At 66 my estimated benefit was $2,288 plus $1,144 for my wife (50% of my benefit since she didn't work much) for a total benefit of $3,432. When you consider that this is tax free money, assuming social security is all you have, that's equivalent to a 40 hour job earning $792 weekly take home pay. It is close to a $25/hour job weekly which seems to be an average hourly rate according to the Bureau of Labor Statistics.
Maybe on social security alone we won't live high on the hog but, since we don't have debt and own our home, I don't see us eating dog food either.
$792 is even more attractive when you consider you won't have any work related expenses and health insurance at 65 is rather cheap.
I visited both Columbia and Charleston, SC back in 2012. What a beautiful state! The state seems to be very affordable compared to Florida. I would rather retire to the beaches of SC over Florida, especially around Charleston and Hilton Head Island. Let's hope all snow birds keep flocking to Florida leaving SC a secret spot not discovered yet.
Too late, especially the two specific locations you mentioned.
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