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View Poll Results: How much for a middle class couple to retire comfortably?
$1,000 to $1,500 2 1.48%
$1,501 to $1,800 2 1.48%
$1,801 to $2,300 5 3.70%
$2,301 to $2,800 8 5.93%
$2,801 to $3,300 7 5.19%
$3,301 to $3,800 13 9.63%
$3,801 to $4,300 14 10.37%
$4,301 to $4,800 14 10.37%
$4,801 to $5,300 20 14.81%
$5,301 to $5,800 14 10.37%
$5,801 to $6,300 7 5.19%
More than $6,300 29 21.48%
Voters: 135. You may not vote on this poll

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Old 01-02-2015, 10:11 PM
 
Location: Forests of Maine
37,246 posts, read 60,987,691 times
Reputation: 30134

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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
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Old 01-02-2015, 10:45 PM
 
Location: Los Angeles area
14,017 posts, read 20,839,209 times
Reputation: 32530
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.
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Old 01-02-2015, 10:52 PM
 
Location: Sacramento
14,044 posts, read 27,120,516 times
Reputation: 7373
In metro Sacramento a monthly income of $3300-$3800 should be sufficient for a nice life style if your home is paid off.
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Old 01-03-2015, 07:49 AM
 
Location: UpstateNY
8,612 posts, read 10,701,707 times
Reputation: 7595
4K a month, no travel or vacations, bare minimum. Warren county NY.
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Old 01-03-2015, 08:06 AM
 
Location: Southwestern, USA, now.
21,020 posts, read 19,214,293 times
Reputation: 23653
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.
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Old 01-03-2015, 08:09 AM
 
105,776 posts, read 107,776,949 times
Reputation: 79395
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.
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Old 01-03-2015, 08:20 AM
 
Location: Southwestern, USA, now.
21,020 posts, read 19,214,293 times
Reputation: 23653
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.
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Old 01-03-2015, 08:22 AM
 
105,776 posts, read 107,776,949 times
Reputation: 79395
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..
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Old 01-03-2015, 10:07 AM
 
Location: Columbia SC
14,198 posts, read 14,567,911 times
Reputation: 22009
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.
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Old 01-03-2015, 10:15 AM
 
Location: Near a river
16,042 posts, read 21,907,575 times
Reputation: 15773
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.
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