U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
View Poll Results: How much for a middle class couple to retire comfortably?
$1,000 to $1,500 2 1.50%
$1,501 to $1,800 2 1.50%
$1,801 to $2,300 5 3.76%
$2,301 to $2,800 8 6.02%
$2,801 to $3,300 7 5.26%
$3,301 to $3,800 13 9.77%
$3,801 to $4,300 14 10.53%
$4,301 to $4,800 13 9.77%
$4,801 to $5,300 19 14.29%
$5,301 to $5,800 14 10.53%
$5,801 to $6,300 7 5.26%
More than $6,300 29 21.80%
Voters: 133. You may not vote on this poll

 
 
Old 01-02-2015, 09:11 PM
 
Location: Forests of Maine
30,697 posts, read 49,495,894 times
Reputation: 19146

Advertisements

Quote:
Originally Posted by nicet4 View Post
The median income for a household in the county was $32,616 which, if you hail from east or west coast, most likely challenges your imagination but cost of living is very inexpensive.

An annual household income of $32,616 is only $2,717/month which I wouldn't want to live on but I've studied a lot and we should be able to live very comfortably, comfortably indeed, on $4,000.

I was born and raised in the bay area between Menlo Park and Santa Clara and with a large portion of the family in the area, I am a fifth generation Californian and I am well aware of the cost of trying to retire in that area. Which is one of the reasons I left and never went back.

For our area $3,801 to $4,300 should provide a comfortable retirement because our cost of living is so low. $3,801 in Palo Alto would leave one stealing cat food from the neighbors cat bowl.
I am also a Californian who did not 'go back'.

Anywhere you can retire and your income is more than the local median household income, you will be fine
Quick reply to this message

 
Old 01-02-2015, 09:45 PM
 
Location: Los Angeles area
14,018 posts, read 17,756,785 times
Reputation: 32309
Quote:
Originally Posted by nicet4 View Post
For our area $3,801 to $4,300 should provide a comfortable retirement because our cost of living is so low. $3,801 in Palo Alto would leave one stealing cat food from the neighbors cat bowl.
Yes, I get that, but in your original post you specified that the home is fully paid for, which goes a long way toward equalizing the cost differences in different areas. (Yes, I grant there are still cost differences, but housing is probably the biggest one). I wonder if people are forgetting about the paid off home, as the highest poll answer is the most chosen so far. If one assumes a paid off home, then it seems to me the highest poll amount would grant a more lavish style of life than the rest of your description pictures.
Quick reply to this message
 
Old 01-02-2015, 09:52 PM
 
Location: Sacramento
13,784 posts, read 23,823,436 times
Reputation: 6195
In metro Sacramento a monthly income of $3300-$3800 should be sufficient for a nice life style if your home is paid off.
Quick reply to this message
 
Old 01-03-2015, 06:49 AM
 
Location: UpstateNY
8,612 posts, read 8,313,876 times
Reputation: 7524
4K a month, no travel or vacations, bare minimum. Warren county NY.
Quick reply to this message
 
Old 01-03-2015, 07:06 AM
 
Location: Southwestern, USA
15,440 posts, read 12,165,241 times
Reputation: 16655
Well, I voted wrong! I thought you meant per YEAR! That was dumb of me.
I think in yearly income.

If their mortgage was paid...easily $1000 a month...now if they
want to purchase a new Mercedes every few years...then no.
If they run a kennel as a hobby of St. Bernards... then no.
If they intend on going on cruises every year...then no.
Quick reply to this message
 
Old 01-03-2015, 07:09 AM
 
71,779 posts, read 71,896,917 times
Reputation: 49345
living in queens outside nyc we set a pretax budget of 130k a year. we can take more but we will see how that goes first year. rent ,health insurance and long term care insurance will eat up about 35k or more right off the bat.
Quick reply to this message
 
Old 01-03-2015, 07:20 AM
 
Location: Southwestern, USA
15,440 posts, read 12,165,241 times
Reputation: 16655
Quote:
Originally Posted by mathjak107 View Post
living in queens outside nyc we set a pretax budget of 130k a year. we can take more
but we will see how that goes first year. rent ,health insurance and long term care
insurance will eat up about 35k or more right off the bat.
I lived in Queens for years...worked in Manhasset and, thus, was in Madamoiselle mag twice...
the land of money, connections and opportunity!...
the town with $35,000-50k engagement rings...and $50k watches...

Yes, NYC is a whole diff ball game and why I moved out to simple CO...29 yrs ago.
Quick reply to this message
 
Old 01-03-2015, 07:22 AM
 
71,779 posts, read 71,896,917 times
Reputation: 49345
my sister fled to arizona about 12 years ago. but now with all of our kids having grand kids and she missing daily life with family she kind of regrets the trade off of family for savings.

this is why we are not going anywhere else, 2 grandkids and a 3rd on the way has us rooted here . we see at least 1 set once a week and it is priceless being part of their lives instead of a vacation stop over as our parents were to us..
Quick reply to this message
 
Old 01-03-2015, 09:07 AM
 
Location: Columbia SC
9,002 posts, read 7,766,040 times
Reputation: 12231
In my area, with no debt, a couple could live comfortably on about $3K per month. At $4K per month they would be very comfortable. The no debt is the kicker.
Quick reply to this message
 
Old 01-03-2015, 09:15 AM
 
Location: Near a river
16,042 posts, read 18,997,544 times
Reputation: 15649
Quote:
Originally Posted by mathjak107 View Post
my sister fled to arizona about 12 years ago. but now with all of our kids having grand kids and she missing daily life with family she kind of regrets the trade off of family for savings.

this is why we are not going anywhere else, 2 grandkids and a 3rd on the way has us rooted here . we see at least 1 set once a week and it is priceless being part of their lives instead of a vacation stop over as our parents were to us..
That is the kicker, grandkids or grand-nephews/nieces and/or close family members. What I would save in property tax by moving to a cheaper location out of the Northeast would be spent 4 or 5 times over making trips back for visits. When someone moves far from family, like my Calif sister and MIL, the onus is usually on them to come back for visits, except...not. These West Coast folks think we should be spending the big bucks to go visit THEM.
Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


 
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:
Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top