As the estimated 10,000 per day Baby Boomers begin retiring, and start accessing their Social Security accounts, the hard economic questions they must face come at them quickly. The primary one of course, is can I afford to live off my benefits, and even more so, where can I afford to live.
A new infograph from Nov. 15 shows that Florida, Arizona, and all the warm weather climate states that have been the dream of many over the past few decades, are now priced out of their budgets due to inflation, taxation, and other monetary barriers. In fact, on an average benefit income of $1130 per month, the number of states that fit this budgetary criteria is now limited to just 10.
And most are in the Midwest.
Montana, North Dakota, South Dakota, Nebraska, Kansas, Oklahoma, Arkansas, Iowa, Kentucky, and West Virginia round out the only true affordable places to live for retirees on a Social Security budget.
But of course, one can always look on the bright side. These are the primary places that grow food in America, and if the feces hits the fan, at least you will be around other like minded individuals who have a more prudent standard of living, and have been doing so for decades.