No. of Recommendations: 1
I bet the winter heating bill in Syracuse, NY would put a big dent in a SS check.

http://money.usnews.com/money/retirement/slideshows/10-place...

intercst
Print the post Back To Top
No. of Recommendations: 2
Would I really want to retire to a community where half the population is living below the poverty level? I don't think so.

This suggests an economically divided community where some are very well off financially and a large perentage is made up of low income seniors, the unemployed, and others on public assistance or just living out of their cars.

Noted one community listed home prices of $162,000. How to you get a mortgage for that on $28,000 income? Also noted State College, PA on the list. Want to compete for apartments on low income against thousands of college students?

I'd like to read the whole article but something doesn't seem right here.
Print the post Back To Top
No. of Recommendations: 1
Every choice has to e viewed from many angles, some good and others bad. What I like about the article is the idea behind it: there are alternatives you may not have considered, particularly places that don't often suggest themselves for retirement. Why not open people's minds to alternatives?

My mother was never well off financially. As she put it, "We were never poor, we just never had any money." After my father passed, her only significant assets were her SS checks and a house on Long Island, NY, purchased 45 years earlier. In her mid-seventies she sold the house, and with my sister moved to coastal North Carolina - not the outer coast where all the rich move, but Pamlico County, a very poor and sparsely populated area. The house they bought with perhaps a quarter of what she got from selling the LI house was not new, and not in a retirement community full of other retired yankees. She made new friends, some from the well off (such as having a pension from 30 years in the Navy) to a lady working part time at the fish house down the end of the street fileting. She lived with the locals, the way they lived, they took her in as one of their own, and she chose to be buried there. Now, that wouldn't work for me, but it sure made me aware that there are cheaper alternatives to staying in CT when I retire!
Print the post Back To Top
No. of Recommendations: 1
I wonder...more than half of these are college towns. Is there something about that that makes living cheap? Student slums or something??

You're talking about having someone in their 70's move away from everyone and everything they know as well.

My MIL is talking about Panama when her money runs dry (she knows a few folks there).
Print the post Back To Top
No. of Recommendations: 1
>> I wonder...more than half of these are college towns. Is there something about that that makes living cheap? <<

I was thinking "abundant supply of student labor willing to work for at or near minimum wage."

But college towns really don't tend to be cheap. Relative to the local median income they tend to be rather pricey. Of course, they also tend to have medical facilities, some amount of cultural events and a relatively recession-resistant economy, so there is something to it.

#29
Print the post Back To Top
No. of Recommendations: 0
I live 8 miles from Boone, NC, which is on the list. Boone is a college town, with overcroweded roads, poor parking, little real commercial activity, a City Council that is totally dysfunctional, but great views and nice people and lots of nice things to do close by. The college provides most of the activities, but so do many other groups in the general area. I only go into Boone when someone has a gun pointed at my head.
Print the post Back To Top
No. of Recommendations: 0
When I saw this article title I assumed all the places would be overseas. I live in one of the lowest per capita income counties in Missouri now so I won't be needing to move I guess. Just buy a jeep for the roads etc?
Print the post Back To Top
No. of Recommendations: 0
>> I wonder...more than half of these are college towns. Is there something about that that makes living cheap? <<

I was thinking "abundant supply of student labor willing to work for at or near minimum wage."


that too

i didn't read the thing (i hate 'articles' that are spread over 12 pages ..so i can look at 48 ads?),
but wasn't the tag-line, Places where average income is less that average SS?
....... wouldn't thousands of students making pretty much nothing (supported by parents) bring down the average income a great deal?



But college towns really don't tend to be cheap. Relative to the local median income they tend to be rather pricey. Of course, they also tend to have medical facilities, some amount of cultural events and a relatively recession-resistant economy, so there is something to it.


true and true.
Print the post Back To Top
No. of Recommendations: 1
I wonder...more than half of these are college towns. Is there something about that that makes living cheap?

Its not about whether these places are cheap to live. Its about your SS benefits being more than the median income. With all the college kids working minimum wage/part times jobs, it skews the median to the low side. Thus implying that low income people can live there. What is not taken into account is the student loans, which would probably boost the median income of these students to well above SS benefits.

JLC
Print the post Back To Top
No. of Recommendations: 2
more than half of these are college towns. Is there something about that that makes living cheap?

I lived in one for about 8 years and wasn't a student - there was lots of free and cheap entertainment. It was very easy to find multiple bridge groups and the local public library was good. It also had a great bus system for a town of that size.

It was already attracting retirees and we left in 1985.
Print the post Back To Top
No. of Recommendations: 0
Its not about whether these places are cheap to live. Its about your SS benefits being more than the median income. With all the college kids working minimum wage/part times jobs, it skews the median to the low side. Thus implying that low income people can live there. What is not taken into account is the student loans, which would probably boost the median income of these students to well above SS benefits.


Are college kids living on campus included in the income stats for these towns? I went to school in massachusetts full time, but I believe I was always considered a resident of my hometown in Connecticut because it was considered my perminent residence. I filed CT taxes, had a CT driver's license, registered a car in CT. Until I moved into an off campus apartment I don't think the state of massachusetts could even include me in their stats if they wanted to.
Print the post Back To Top
Advertisement