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4 American cities where you can live only with social security benefits



<p class = "canvas-canvas-text canvas Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "If you are late in your retirement savings, According to a survey conducted in the United States, half of adults over age 55 have no savings for retirement. Office of Government Accountabilityand only about a quarter of American adults are considered financially healthy, a report of the financial health network find. "data-reactid =" 11 "> If your retirement savings are late, you are not alone – half of adults over age 55 have no savings for retirement, According to a US Accountability Office survey and only about one-quarter of US adults are considered financially healthy, according to a report from the Financial Health Network.

<p class = "canvas-atom-canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "When you are nearing the age of retirement with little savings, you will probably end up rely on your social security benefits to get by. This is not necessarily the ideal way to retire, as the average beneficiary receives only about $ 1,400 a month, according to the Social Security Administration. There is also the possibility that the benefits could be reduced If you still have time to save for retirement, it is better to save as much as you can. "data-reactid =" 12 "> When you are approaching retirement age and save little or nothing at all, you are probably not the ideal way to retire, as the average beneficiary receives only about $ 1,400 a month, according to the Social Security Administration It is also possible that benefits If you still have time to save for retirement, it is better to save as much as you can.

That being said, if you have no option but to depend mainly on social security benefits to make ends meet, there are some American cities where you can live comfortably with only $ 1,400 a month.

Man and woman sitting on the beach at retirement

Source of the image: Getty Images.

1. Palm Bay, Florida

There is a reason why Florida is one of the most popular destinations for retirees. Who does not want to spend his golden years lounging on the beach with sunny days all year round? Besides the beaches and the weather, however, one of the main benefits of retiring to the state of Sunshine is that there is no income tax States, including on social security benefits. When you try to spend every dollar, saving money on taxes goes a long way.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "For those looking to to buy a house in their new retirement destination, Palm Bay is an affordable choice. The median value of the house is about $ 180,000, and tenants can expect to shell out about $ 1,000 a month for a 900 square foot apartment. "Data-reactid =" 28 "> For those looking to buy a home in their new retirement destination, Palm Bay is an affordable choice: the median value of the house is around $ 180,000 and renters can expect to pay about $ 1,000 a month for a 900 square foot apartment.

Halfway between Orlando and Miami, Palm Bay is a quiet city with access to the amenities of major cities. It is also an ideal choice for those looking for outdoor adventure with many hiking trails, beautiful beaches and fishing spots – free activities ideal for all budgets. Because it's a small town, you will not spend as much on transportation as in a big city.

2. Brownsville, Texas

Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" Texas is another state that does not have personal income tax, making it a favorite place for retirees who want squeeze every dollar of their social security checks. "data-reactid =" 31 "> Texas is another state that does not have personal income taxes, making it a favorite place for retirees seeking to take every dollar out of their checks. social Security.

Brownsville is one of the most affordable cities in Texas, with a median value of about $ 90,000 and an average rent of about $ 700 a month. The city is also at the heart of a bustling real estate market, so if you buy a home now and the city continues to thrive, you may be able to sell for a nice penny on the road.

The city of Texas enjoys beautiful weather all year round, with an average of 233 sunny days a year and pleasant temperatures in the middle of the winter in the 50s. Brownsville is also located in less than an hour drive from South Padre Island, which offers a wide variety of activities, including shops and restaurants, water parks, museums and golf courses. You will never be forced to avoid boredom at retirement.

3. Sun City, Arizona

If you are looking for a place specifically designed for retirees, you can not beat Sun City, Arizona, a planned retirement community. About three quarters of the population is over 65 years old. So you will be surrounded by people enjoying their golden age.

The median value of the house is about $ 180,000, making it an affordable place to settle. And while the average rent is slightly high, around $ 1,100 per month, the community offers many free and inexpensive activities such as museums, parks and trails and social clubs for retirees. In addition, the size of the city is only about 20 square miles and you will save on transportation costs. In addition, residents can travel the city with golf carts. So you may not even need a car to enjoy life here.

For those looking to spend the rest of their lives in a small community of retirees, Sun City is a half-hour drive from Phoenix, less than two hours from Sedona, four hours from the Grand Canyon and close to five hours from Las Vegas. those looking for a more adventurous trip.

4. Spokane, Washington

The West Coast tends to be an expensive part of the country to live in, making it out of the budget for most retirees. But if you aspire to live in the mountains surrounded by lush forests, Spokane may be the right destination for you.

Although home prices are expensive, with a median value of about $ 212,000, average rents are in the order of $ 970 per month for an 800-square-foot apartment. Compared to neighboring cities like Seattle and Redmond, where the median home price is between $ 750,000 and $ 850,000, living in Spokane is a business.

If you are looking for a more temperate climate, the Pacific Northwest is an ideal place to live. While summery summits reach the 80s and winter minima are barely down to the freezing point, Spokane offers mild temperatures all year round. Just be sure you can tolerate rain and snow, because the city receives an average of 16 inches of rain and 45 inches of snow a year.

One of the greatest benefits of living in Spokane is to be surrounded by a magnificent nature. Between the famous waterfalls, the picturesque parks and the superb hiking and hiking trails with views of the city center skyline, the city is an ideal destination for nature lovers and those looking for fun free activities for all ages. the family.

Choosing where to retire is an important decision that should not be taken lightly. If your savings are scarce, your retirement options may seem limited. But by choosing the right retirement destination within your budget and offering many fun retirement activities, you can make the most of your golden years without the fear of running out of money in retirement.

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<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Katie Brockman has no position in any of the actions mentioned. The Motley Fool owns shares and recommends the Zillow Group (A and C shares). The Motley Fool has a disclosure policy."data-reactid =" 56 ">Katie Brockman has no position in the mentioned actions. The Motley Fool owns shares and recommends the Zillow Group (A and C shares). Motley Fool has a disclosure policy.


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