$40,000 per year in retirement income will just not cut it in New York City, Los Angeles, or Miami. St. Louis? Well, that’s another story according to U.S. News and World Report who listed our gateway city as one of the 10 Great Places to Live on a modest income.
Quoting the report; “Producing a retirement income of $40,000 is a realistic goal for many retired couples, even those without a traditional pension. The average monthly Social Security benefit for a retired worker was about $1,230 at the beginning of 2012. For a married couple each receiving the average amount, that’s a retirement income of just under $30,000 per year. Add to that a modest nest egg of $250,000, and that could bring your retirement income to around $40,000 per year, depending on how the money is invested, your draw-down strategy and the inflation rate.”
Using U.S. Census figures they focused on the areas with the lowest housing costs for people 60 and over. Then, among the places where people age 60 and older spend the least on housing, they selected cities with the best amenities seniors will need, including major medical facilities, services for seniors, colleges, and cultural and outdoor activities.
The magazine noted, “St. Louis also has a zoo, science center, a variety of art and other museums, and 111 parks covering 3,250 acres. Professional sports fans can choose between the Cardinals (baseball), Rams (football), and Blues (hockey). The teaching hospital, Barnes-Jewish Hospital/Washington University, is ranked 14th in the nation in geriatrics and is also ranked nationally in 15 other specialties. Housing costs for retirees are reasonable, including a median of $1,186 monthly for retirees with a mortgage, $442 among seniors with a paid-off house, and $657 monthly in rent.”
The Truth About Crime in St. Louis
Did you know that since 2006 crime has actually dropped by 46% in the city of St. Louis? You would never know it by listening to the media who has given St. Louis a bad rap.
Check out the truth in this video:
Do Your Own Research and See Why St. Louis is a Great Place to Retire
“I just want to come to St. Louis to be near family”, is one of the major reasons people move back to St. Louis. Gotta be near those grand kids, is another motivating reason we often hear. I miss the change in seasons is another (where else can you live and experience all 4 seasons in a week?)
Are you from St. Louis and trying to encourage someone to move back home? Share this post with them as a little nudge.
Call Finding Homes for You at 636-532-4200 if you’d like to know more about living in St. Louis.
- STL ranks No. 2 for best retirement cities (stltoday.com)
- Things to do in St Louis
- Compare Your City to any City in the U.S.
- The number of homes for sale in St Louis and impact on price