How to retire in 5 expensive cities

Some of the United States' most desirable urban areas are also the priciest. But retirees have found ways to trim the costs.

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VIDEO ON MSN MONEY

6Comments
Jun 26, 2013 11:07AM
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...how about "How to retire where you have your mortgage paid off".  One less expense to worry about in my opinion.

 

Couple things about the NYC portion..

1.  Heat and humidity - you have experienced NYC in June, July and August, haven't you?

2.  Figuring $900/mo now increased gradually from $100/mo over 50 years is $998,000 at a

     curve in interest rates over those 50 years - may have been better off to buy in 1960

     pay off by 1980, move to a lower cost city in 2000 by selling your paid off abode.  Rent

     control or not, you have loooooong since boosted that landlord's gain fifteen-fold. Could have been

     your gain with realistic potential to buy all-cash your final home. Rent that long if you want nothing

     to show for it.

3.  NYC = tipping gone wild - EVERYONE has their hand out these days.

Jun 27, 2013 12:23PM
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91 year old New Yorker doesn't need a car.  Thank GOD!  That is too old be out on the road.
Jun 26, 2013 9:20AM
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duh! 

 

"after housing costs, it's not so bad"......

Jun 26, 2013 9:59AM
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"I guess if we sold, we could have a more lavish lifestyle someplace cheaper, but this is my home," MaryAnn said. "I'm not going anywhere." If selling up and moving meant I could pocket HALF A MILLION DOLLARS  I don't think I'd get that attached to a place...I'm pretty sure once I'm not tied to a job I'd be moving around anyway, see someplace new...
Jun 29, 2013 4:49PM
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The only way to retire in any of the 5 expensive cities is to move in with rich relatives or sell "juice".
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