Here’s One Big City Where You Can Afford to Live on Social Security
The average monthly Social Security retirement benefit is $1,906 this year. According to Travel & Leisure, that is more than enough money to retire in Cleveland, Ohio. The Buckeye State’s second most populous city — and largest one on Lake Erie — is ideal for retirees because of its affordability and offerings.
Citing a GoBankingRates.com study, monthly expenses in Cleveland — like groceries, transportation and entertainment — will cost you $1,690 per month and the average monthly mortgage cost is only $622. Beyond its affordability, Cleveland offers plenty of things to do, including visiting the Rock ‘n Roll Hall of Fame, and its lakefront location offers milder winters and cooler summers than the rest of the state.
The Seniors Trust is committed to improving the lives of America’s retirees through passage of The Social Security Expansion Act. It will give retirees an immediate benefits increase of about $200 a month, a fair annual cost-of-living adjustment (COLA), and increased minimum benefits allowing more seniors to live without financial stress. This bill will also ensure the long-term solvency of the Social Security program.
