Why Where You Live Matters During Retirement
Years ago, it was everyone’s dream to retire and move to Florida. Remember how wonderful life seemed for the Golden Girls? Times have changed and, for most Americans, that will never be possible because Florida is now one of the most expensive states for retirement.
According to Digg.com, you will need $730,733 to retire in Florida. Of course, it’s far more affordable than Hawaii, the most expensive state to retire in, where you will need almost $900,000. The average cost of retirement in the United States is $702,330.
This might have many people looking to stretch their retirement savings and move overseas. The article says the cost of retirement is lowest in Asian and African countries — like Pakistan, Egpyt and Algeria — where living a comfortable, retired life would require cost less than $225,000.
The Seniors Trust is committed to improving the financial well-being 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.
