Those looking to retire on a budget may want to look no further than San Antonio, according to a new study by personal finance website GoBankingRates.
After running numbers, GoBankingRates researchers determined that seniors can retire on a little more than $47,000 annually in the Alamo City, making the nation’s No. 27 best place to retire.
“Housing costs are almost 25% less than the national average, at $14,248.36 per year,” the study said. “The city also provides a wealth of opportunities to go exploring and great weather to explore in, making it one of the most affordable cities for active retirees.”
Indeed, retirees will only need an additional $1,498 monthly after social security to afford to to live out their golden years here, according to GoBankingRates. That could be why 13% of San Antonio’s 1.4 million people residents are over the age of 65.
The only other Texas city to beat out San Antonio on GoBankRate’s list was Lubbock, which ranked as the fifth-cheapest spot to retire. Folks would only need $42,000 annually to retire there.
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This article appears in Jun 26 – Jul 2, 2024.
