Planning your retirement? Wondering if $2,500 a month is enough? We've got you covered with a list of cities where this budget can go a long way.
The average 65-year-old earns $57,252 a year. But with a little over half of that, $2,500 a month, a comfortable retirement is within reach.
Where you retire is crucial. Some cities are more budget-friendly than others. We explore six such cities with varying pros and cons.
Enjoy the musical culture of Memphis, thanks to no state income tax and affordable living. Healthcare options may be limited, though.
Affordable housing and low utility costs make Wichita attractive. However, you might need a car and entertainment options are limited.
Moderate healthcare and housing costs make Cleveland a good choice. Winters are cold, but summers are pleasant.
Tucson offers affordable healthcare and slightly below-average rent. However, hot summers and high electricity rates can impact utility bills.
No state income tax and affordable housing make El Paso viable. Winters are mild, but high-end entertainment options may be lacking.
Affordable groceries and housing costs make Jackson budget-friendly. Plus, Mississippi exempts all retirement income from taxation.
We also offer a sample budget to help you make the most of your $2,500 income in these cities. And don't forget to consult a financial expert to fine-tune your retirement plans!