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OAITW r.2.0

(28,529 posts)
Tue Jan 2, 2024, 05:21 PM Jan 2024

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

Last edited Tue Jan 2, 2024, 05:57 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.

14 replies = new reply since forum marked as read
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Apparently. I need $770,000 to retire in Maine. (Original Post) OAITW r.2.0 Jan 2024 OP
What is that a chart of? Minimum retirement savingss? Cost of housing? Per year? sinkingfeeling Jan 2024 #1
Post 3 was meant as my reply to you. OAITW r.2.0 Jan 2024 #4
As partners in the noble enterprise of capitalism Voltaire2 Jan 2024 #2
Sure looks like it. 2naSalit Jan 2024 #9
$ needed to comfortably retire. OAITW r.2.0 Jan 2024 #3
The methodology partially explains it... getagrip_already Jan 2024 #6
I will bet that there are 100K livable structures in Maine. currently unused, that could be bought for under $50K. OAITW r.2.0 Jan 2024 #7
Yeah... 2naSalit Jan 2024 #8
Florida is more expensive than RI? getagrip_already Jan 2024 #5
There is no such thing as a free lunch.. raising2moredems Jan 2024 #13
Please provide the link to the source PJMcK Jan 2024 #10
It's on Digg.com right now. A daily collection of different things. OAITW r.2.0 Jan 2024 #11
Thanks (n/t) PJMcK Jan 2024 #12
"Based on average costs of living in the MAJOR CITIES" is what the fine print TeamProg Jan 2024 #14

sinkingfeeling

(53,149 posts)
1. What is that a chart of? Minimum retirement savingss? Cost of housing? Per year?
Tue Jan 2, 2024, 05:32 PM
Jan 2024

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

Voltaire2

(14,818 posts)
2. As partners in the noble enterprise of capitalism
Tue Jan 2, 2024, 05:34 PM
Jan 2024

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.

OAITW r.2.0

(28,529 posts)
3. $ needed to comfortably retire.
Tue Jan 2, 2024, 05:40 PM
Jan 2024

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

getagrip_already

(17,502 posts)
6. The methodology partially explains it...
Tue Jan 2, 2024, 06:00 PM
Jan 2024

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

(28,529 posts)
7. I will bet that there are 100K livable structures in Maine. currently unused, that could be bought for under $50K.
Tue Jan 2, 2024, 06:24 PM
Jan 2024

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.

getagrip_already

(17,502 posts)
5. Florida is more expensive than RI?
Tue Jan 2, 2024, 05:52 PM
Jan 2024

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

raising2moredems

(713 posts)
13. There is no such thing as a free lunch..
Tue Jan 2, 2024, 11:06 PM
Jan 2024

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

PJMcK

(22,980 posts)
10. Please provide the link to the source
Tue Jan 2, 2024, 06:33 PM
Jan 2024

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

(28,529 posts)
11. It's on Digg.com right now. A daily collection of different things.
Tue Jan 2, 2024, 06:38 PM
Jan 2024

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

 

TeamProg

(6,630 posts)
14. "Based on average costs of living in the MAJOR CITIES" is what the fine print
Wed Jan 3, 2024, 10:11 AM
Jan 2024

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.




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