Apparently. I need $770,000 to retire in Maine.

[OAITW r.2.0]

Last edited Tue Jan 2, 2024, 06:57 PM - Edit history (1)

Guess I won't be retiring.


In fact, there's no state for me to retire in.

Yet, I got enough in my life to be reasonably happy and continue my lifestyle for as long as I can.

[sinkingfeeling]

1. What is that a chart of? Minimum retirement savingss? Cost of housing? Per year?

It may say at the bottom, but I can't read it.

[OAITW r.2.0]

4. Post 3 was meant as my reply to you.

[Voltaire2]

2. As partners in the noble enterprise of capitalism

Those of us who sold our time for wages sure have made out like bandits. Great system we got here. And honestly it did more or less work for our parents, but the great clawback of neoliberal reform from the late 70s onward has restored the balance to where it was circa 1890 or so.

[2naSalit]

9. Sure looks like it.

[OAITW r.2.0]

3. $ needed to comfortably retire.

No idea where the author of this graph got his data from, but it sure doesn't seem to correlate to reality.

[getagrip_already]

6. The methodology partially explains it...

It says it's the cost to live between age 61 and 76 in the average city in that state. Whatever that means.

So if they are saying $750k, it's budgeting about $50k a year without taking inflation into consideration.

I don't think you could live in a major city on $50k when rent alone is about $2k a month. But I suppose if you were healthy and lived in a group setting, you could do it. It would be easier in an area with lower rent and public transit though.

[OAITW r.2.0]

7. I will bet that there are 100K livable structures in Maine. currently unused, that could be bought for under $50K.

That $770K number has to relate to York and Cumberland counties, only. The other 90% - (land-wise) has many towns that are dying......if you only have SS and enjoy the quiet / outdoors life, this is the place for you.

[2naSalit]

8. Yeah...

Not even close.

[getagrip_already]

5. Florida is more expensive than RI?

So much for freedom from taxation. I guess they get you other ways.

[raising2moredems]

13. There is no such thing as a free lunch..

but you can't fix stupid. Sales tax, property tax, P&C insurance (car, home), medical insurance will get you every time.

[PJMcK]

10. Please provide the link to the source

While this is interesting, without more information, it's fairly vacuous. The methodology is vague, the source is unverifiable, (I search NetCredit's website but couldn't find this chart), and the financial projection is suspect as it doesn't include detailed financial data.

Still, it's interesting in a broader sense. Thanks for posting it.

It's fascinating to see the comparisons state-by-state.

Happy new year.

[OAITW r.2.0]

11. It's on Digg.com right now. A daily collection of different things.

Probably more detail. There is world retirement map....I can't qualify in 95% of the reported locations.

[PJMcK]

12. Thanks (n/t)

[TeamProg]

14. "Based on average costs of living in the MAJOR CITIES" is what the fine print

in bottom left says.

So, ‘state by state’ isn’t entirely accurate.

Either way, too many GOP’sters will be crying for a gub’mnt hand out years after they voted for tax cuts for billionaires.