Best places to retire for under $40K

A modest income needn't mean deprivation. These cities offer top-notch medical care, plenty of things to do and a low cost of living.

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VIDEO ON MSN MONEY

512Comments
Apr 18, 2013 6:59PM
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A couple other things:  Find out if heatings is forced central air or baseboard heating (expensive) etc., find out if house is on a cement foundation, make sure water appears to drain away from the home.

 

Good luck!!

Apr 18, 2013 6:55PM
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Here is a super website and fantastic data source that also has comments:    city-data

 

Plus, use a real estate website that shows annual property taxes + drive the neighborhood during daytime and nightime.

 

Have a very nice time.

Apr 18, 2013 5:21PM
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Retire to a city in the South?  Never! Redneck country is not for me.
Apr 18, 2013 5:04PM
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The author has her head in the clouds regarding the "modest" retirement income, and nest egg.  Obviously she thinks that is/should be a good average....yu hu.....Emily....stop shopping and get real !  Anybody home ???
Apr 18, 2013 4:46PM
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the best place to retire is with someone who is wealthy
Apr 18, 2013 4:45PM
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yes I agree with so sad for you well said
Apr 18, 2013 4:39PM
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F the cities....the libs can live in the cities. 

I've got 35 acres paid-in-full in southern colorado waiting for me to retire.....will build my offgrid cabin and hang a sign on the gate:  I DON'T DIAL 911 

Apr 18, 2013 4:16PM
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My retired parents live in Louisville and still in the same house they had built and moved into 36 years ago. They live on about $25k per year.

The house is 2100 SF plus another 600 SF attached garage and on 1.8 acres in the rural southeastern part of the county. They also have a small mortgage taken out a few years ago to do some updates on the house.

Apr 18, 2013 3:42PM
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I am lucky and Do/Done well in life ... just wonder how many people out there make less than 40k a year ... 50% / 75%.

 

Worldwide probably 99% .. but that another issue

 

Gonna be a lot of people moving it seems.

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It is sad that msn a new organization can't do anything but rerun the same money stories over and over again. I have seen this at least 3 times in the past year.
Same with best places to retire in the world. Etc.
Get some new material Please
Apr 18, 2013 3:24PM
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Why retire in a city? Rural areas are much less expensive and don't have most of the problems.
Apr 18, 2013 3:19PM
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Just once in awhile I wish these "articles" defined their terms.  Housing costs retired and with a mortgage:  My wife and I spend, average, $770/mo. for mortgage, taxes, insurance, all utilities with a full pay service contract on all appliances.  Social Security income at $2200/mo ($26,400/yr.) leaves $1430/ mo. for food, transportation and play.  More activities are available than we choose to participate in, medical care is not the Mayo Clinic but there are hospitals, clinics, specialty and general practice physicians adequate for all but the most exceptional needs within easy access.  Membership in a fully equipped gym is less than $200/yr.  What more do you want in retirement?  And I guarantee you there are thousands of places just like this one across the country but they aren't in any monster d.......d. megalopolis city.  They are in rural areas, in communities of 10 and 20 or 30 thousand (and even some smaller).   Look around,  It's a great, big country.
Apr 18, 2013 3:15PM
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San Miguel de Allende in Central Mexico is a prime retirement place for many. Some 10,000 U S citizens live on a permanent basis there. Same happens in other Mexican cities (Oaxaca, Merida, Chapala/Ajijic, etc.). Drug cartels are not in these areas and crime is very low. I spent 5 years in San Miguel and it was great. Many live on SS but, evidently, they don't splurge.

Apr 18, 2013 2:52PM
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After the gubmint takes our retirement money away, most of us will die working.
Apr 18, 2013 2:29PM
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"Modest" nest egg of $250,000...Wha..???  LMAO...only if I win the Lottory!!
Feb 20, 2013 9:17PM
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yeh and San Antonio is like 8th for highest burglary rate. those are some other good choices though.
Feb 20, 2013 7:29PM
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No one I know has a $250k nest egg just sitting around for retirement use. That is a reality for the wealthy only, not middle class people, especially not the poor.  Most folks lost any nest egg when the equity in their homes was lost.

 

Gone are the jobs like my parents had where a good pension was just a normal benefit, just like health insurance. My wife and I both have decent jobs, we make ends meet, but neither of us has a pension plan. Sure, my wife's employer offers a 401k, but for us to ever think of contributing the max amount to that plan to benefit us when we retire is absurd, since we need any extra money for normal living expenses like food, gas, etc.  And no, we have no kids or pets to support.  When she was making a little more money a few years ago, she did put some money into her 401k, but recently just found out it only has about $5k in it.  What will that get us in 35 years???

 

Plus, the way things are going, who knows if social sec benefits will even exist when we retire in 35 years.  Prob. not.  Then, what will all of us do who thought we could rely on that?  It is going to be disastrous.  I for one, don't really want to move out of the USA, but we may not have a choice but to move to Central America, Mexico, someplace where our meager savings acct will get us the most bang for our buck.  Its a real shame that working for over 50 years and paying into SS gets you no "security" at all.  Sad really!

 

Feb 20, 2013 6:47PM
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If you can avoid a mortgage in retirement 40k is more than modest.  My mother just retired this year with a much lower retirement income by downsizing to a small single story home in the suburbs of Las Vegas (she is in a 55+ community, it is far from ghetto).  Her housing costs are under 500/mo for taxes, insurance, hoa, and utilities- less in the winter when you don't need so much AC.  Nevada has no state income tax, and there is lots to do with Red Rock national park, Lake Mead, minor league sports teams, Vegas shows (locals get discounts), etc.  As long as you don't like to gamble it's very affordable!
Feb 20, 2013 6:33PM
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If you got 40,000 dollars a month coming every month you certainly don't need anybody to tell you where to retire.

You could go anywhere you want in my book. The trick for most people in this country is to find a way to retire on 1,200

a month. Now that's a little tricky. I'd say find a partner to split cost of living. The other part is find a state where they don't tax you on your SS or anything else that you earn. The last part is finding a cheap place to either pay rent or if you saved your money up to this point in life buy a condo. Sometimes the rent and mortgage will be very close so if you can swing it by buying it do so. It will pay later on when you sell it for a profit.

I also got a solution for over priced gas in this country. Make it a law that all gas stations have to close on a certain day of the week. Just by doing that gas prices will drop to the 1980's prices. Opec will have a fit. There would be millions of gallons losses for them. I would love that. How's about working only 4 days a week too??!!.

I think we can solve any problem in this country if we really wanted to.

 

Feb 20, 2013 6:04PM
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Wow, after reading some of these comments, I feel truly BLESSED. I retired from private industry right here in California two years ago at 58. Saturday I was skiing down the slopes in beautiful Lake Tahoe, Sunday dining on the terrace overlooking the Pacific in Monterey and Monday cycling through the vineyards in the Wine Country. Today I'm hiking through the majestic oak forests in the rolling green hills of Sunol. Saturday, it's off to Big Basin with my son for a walk through the Redwoods. Life's tough!
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