When people start planning for retirement, one of the first questions they ask themselves is how they’ll be able to continue to afford to live once they stop collecting a paycheck from their work. And while many folks spend the years (and sometimes decades) leading up to retirement ensuring that they’ve saved up enough money to help supplement their Social Security income, there are those who still worry about having enough money to get by.
Fortunately, there are plenty of towns in the U.S. where you can comfortably retire on $2,500 a month, and I’ve put together a list of some of them so you can get an idea of some more affordable options. Best of all, many of these spots are hidden gems that aren’t already super popular retirement spots, which means you may be able to get a good deal on a home if you decide to move.
Lincoln, Nebraska
While Nebraska may not exactly scream “dreamy retirement destination” to everyone, the state has a lot going for it. In fact, the state’s website says that it began phasing out the taxation of Social Security benefits in 2022, allowing you to keep more money in your pocket when you retire.
But those who decide to settle down in Lincoln may be in for a real treat, considering the cost of living here is around 6 percent less than the national average. Not only that, but the Senior Living blog says that around 14 percent of the town’s 300,619 population is made up of seniors, so those looking for community will feel right at home. Add into the fact that there is no estate tax and only a 15 percent max inheritance tax (it varies by county), and this city seems like a great place to start your second chapter…