RE/MAX Reinvented

130 N. Belair Rd, Evans, GA 30809

706-993-1133
Get Prequalified
  • Home
  • Search Listings
  • Buyers
    • Area Info
    • County and Town Guides
    • Tax Information
    • Important Phone Numbers
    • Fort Gordon
    • History of Augusta
    • School Information
      • Local Colleges & Universities
    • Earnest Money Deposit
  • Sellers
    • Help Choosing an Agent
    • Pricing Your Home
    • How Can We Help?
      • Staging Tips
      • What Is a Home Inspection, and Why Is It Important?
    • What Are Absorption Rates?
    • Schedule Professional Photography
  • Rentals
    • Property Management
    • Tenant Login
    • Owner Login
    • Furnished Rentals
  • Our Agents
  • Careers
    • Agent Handbook (pdf)
  • Blog
  • Contact

Augusta listed as “Top 10” best places to retire for under $40,000

July 16, 2013 by Natalie Poteete

FE_DA_BestPlaces2013_425425x283For full story read here.

Many baby boomers who haven’t saved enough to retire well are contemplating delaying retirement. But if working into your 70s isn’t possible (or appealing), moving to a place with a much lower cost of living can help stretch your retirement savings and finance a better quality of life.

A retirement income of $40,000 per year certainly won’t go very far in Honolulu or Miami, but there are plenty of other places where it can fund a comfortable retirement lifestyle. If you’re willing to relocate to a place with a low cost of living and affordable housing, this modest retirement income could give you access to interesting activities and top-notch medical care.

[In Pictures: Best Places to Retire for Under $40,000.]

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 drawndown strategy, and the inflation rate.

To find places where retirees can live well on less than $40,000 per year,U.S. News analyzed recently released 2011 Census Bureau data. We screened for places with the lowest housing costs for people age 60 and older, including mortgage payments for people who had one, other housing costs for people who have paid off their mortgage, and the typical rent for renters, as well as the proportion of their budget retirees spend on housing costs. Then, among the places where people age 60 and older spend the least on housing, we picked cities with the best amenities seniors will need, including major medical facilities, services for seniors, colleges, and cultural and outdoor activities.

Augusta, Ga.

The host city of the Masters Tournament is best known for its golf courses. This city on the Savannah River is also home to the Medical College of Georgia, Augusta State University, and a wide variety of art galleries and museums. Housing costs for residents age 60 and older are a median of just $626 for renters, $1,064 for homeowners with a mortgage, and $353 for seniors who have paid off their homes. Augusta public transit costs 60 cents per ride for people 65 and older.

Filed Under: Uncategorized

Contact Us

  • This field is for validation purposes and should be left unchanged.

Real Estate Blog

  • 4 Tax Breaks You Need to Know About as a First Time Home Buyer
  • How to Sell Your Home Fast
  • 5 Reasons Why to Sell This Fall
  • Key Tips To A Cooler Home
  • The Best Time to Buy or Sell a Home
  • 12 Security Tips for Living Alone Safely
  • 3343 Cockatoo Road
  • Energy-Efficient Home Decorating Ideas for The Holidays
  • 1214 Eisenhower Drive
  • Price Reduced! Don’t Miss Out!

Connect with Us

TwitterFacebookPinterestInstagramLinkedin

706-993-1133


RE/MAX REINVENTED
130 N. Belair Rd
Evans, GA 30809

Agent Bill Pay

© 2022 RE/MAX Reinvented