daylatedollarshort
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Feb 19, 2013
- Messages
- 9,358
The Consumer Expenditure Survey has the mean 65 and over household expenses at $52K. With $40K from investment income and average SS benefits of $1.8K a month, a two person household with two SS checks, would get $43K from SS for a total income of $83K. That is higher than the U.S. median household income of $71K, and the retired couple would likely no longer have children to support, not have to pay into SS and Medicare, may get state tax breaks on the SS income, and have Medicare for health insurance. It seems like that would be more than enough for most locations. Even in pricey areas, there are usually more affordable 55+ communities.