What is the cheapest state for retirees to live in?

What is the cheapest state for retirees to live in?

12 of the Cheapest States to Retire

• Mississippi. Median Home Cost: $140,818. …
• Alabama. Median Home Cost: $170,184. …
• Oklahoma. Median Home Cost: $150,754. …
• Arkansas. Median Home Cost: $149,120. …
• Georgia. Median Home Cost: $245,778. …
• Tennessee. Median Home Cost: $231,682. …
• West Virginia. Median Home Cost: $117,768. …
• Indiana.

What is considered a good retirement income?

What Is a Good Retirement Income? According to AARP, a good retirement income is about 80 percent of your pre-tax income prior to leaving the workforce. This is because when you’re no longer working, you won’t be paying income tax or other job-related expenses.

Who has the best cost of living calculator?

The 4 Best Cost of Living Calculators

1. NERDWALLET. NerdWallet uses your current city, future city, and current income to predict the salary you’ll need in order to maintain your current lifestyle in the new location. …
2. BANKRATE. …
3. CNN MONEY. …
4. SMART ASSET.

What state cost the most to live in?

Hawaii is the most expensive state to live in the United States. With a cost of living index of 193.3, the cost of living in Hawaii is nearly twice the national average.

Where can I retire on $2000 a month in the United States?

1. Bismarck, North Dakota. This article originally appeared on GOBankingRates.com: 28 US Cities Where You Can Retire on $2,000 a Month.
2. Gallatin, Tennessee. Nagel Photography / Shutterstock.com.
3. New Bern, North Carolina. …
4. Belleville, Michigan. …
5. Moline, Illinois. …
6. Parma, Ohio. …
7. North Royalton, Ohio. …
8. Anderson, South Carolina. …

Where is the cheapest and safest place to retire?

The Cheapest Countries Where You Can Retire Well

• Portugal. Cost of Living Index: 47.94. …
• Malaysia. Cost of Living Index: 37.02. …
• Spain. Cost of Living Index: 53.88. …
• Costa Rica. Cost of Living Index: 47.01. …
• Panama. Cost of Living Index: 51.43. …
• Czech Republic. Cost of Living Index: 48.24. …
• Peru. Cost of Living Index: 32.53. …
• Slovenia.

What does the average retiree live on per month?

According to the Bureau of Labor Statistics, an American household headed by someone aged 65 and older spent an average of $48,791 per year, or $4,065.95 per month, between 2016 and 2020.

Can I retire on $4000 a month?

So yes, to collect just over $4,000 per month, you need well over a million dollars in retirement accounts. To be safe, we’ll round that up to $1.5 million for the rest of the steps.

Where can I retire on $5000 a month?

• Walnut Creek, California. Monthly expenditures: $3,076. …
• Palm Beach Gardens, Florida. Monthly expenditures: $3,048. …
• Aventura, Florida. Monthly expenditures: $2,901. …
• Boca Raton, Florida. Monthly expenditures: $2,850. …
• Beachwood, Ohio. Monthly expenditures: $2,628. …
• Delray Beach, Florida. …
• Naples, Florida. …
• Palm Harbor, Florida.

Where is the cheapest place to live in the United States?

Wichita, KS At $500 median rent per month and a median home price of $147,700, Wichita is the cheapest place to live in America.

Is Texas cheaper than Arizona?

Arizona is 6.6% more expensive than Texas.

What is a good salary to live on?

This popular general budgeting rule allocates 50% of annual income to necessities like housing, 30% to discretionary expenses like travel, and the remaining 20% to savings. The median necessary living wage across the entire US is $67,690.

What is the cheapest and safest state to live in?

Here are the 10 most affordable states in the U.S.:

• Indiana. Average cost of living index: 90.57. …
• Michigan. Average cost of living index: 90.40. …
• Missouri. Average cost of living index: 89.75. …
• Missouri. Average cost of living index: 89.75. …
• Tennessee. Average cost of living index: 89.49. …
• Georgia. …
• Alabama. …
• Arkansas.

Which East Coast state is the cheapest to live in?

The Most Affordable Places to Live on the East Coast

1. Jacksonville, FL. Beaches. …
2. Savannah, GA. …
3. Charleston, SC. …
4. Fort Pierce, FL. …
5. Baltimore, MD. …
6. Dover, DE. …
7. Wilmington, NC.

Where is the cheapest warm place to retire?

The 10 Sunniest, and Most Affordable, Cities for Retirees

• Ely, Nevada. 73% chance of sunshine / 47.00% less expensive than national median new home price. …
• Amarillo, Texas. 73% chance of sunshine / -34.73% less than national median new home price. …
• Lubbock, Texas. …
• El Paso, Texas. …
• Yuma, Ariz. …
• Phoenix, Ariz. …
• Tucson, Ariz.

Where can I live on 1500 a month in the US?

To help you find such a place, a GOBankingRates study identified American cities where you can realistically retire on a budget of $1,500 a month….Best Cities to Retire on a Budget of $1,500 a Month

• Grand Forks, N.D.
• Lynchburg, Va. …
• Lawton, Okla. …
• Cedar Rapids, Iowa. …
• Lorain, Ohio. …
• Lubbock, Texas. …
• Davenport, Iowa. …
• Casper, Wyo. …

Where can I retire on $6000 a month?

5 Spectacular Places to Retire on $6,000 a Month

• For Warm Weather and Plenty of Recreational Activities: Reno, Nevada. Population: 255,601. …
• For White Sand Beaches: Cape Coral, Florida. …
• For Intellectual Stimulation: Ann Arbor, Michigan. …
• For Golf Lovers: Augusta, Georgia. …
• For Fans of Live Music: Nashville, Tennessee.