DALLAS (KDAF) — Who doesn’t want to retire, but what if it’s more expensive not to?
Seniorly resource center, a senior lifestyle website, collected data to see which states are more expensive to retire in.
According to a new study, Texas is the 7th most expensive place to retire amid inflation pressures, rising interest rates, bank closures, and Social Security problems.
Seniorly experts said, “The average retirement income in Texas is $30,751, Medicare costs $13,458, and 76.1% of seniors spend less than 30% of their income on housing.”
The Census Bureau, Medicare and Medicaid Services, and Missouri Economic Research and Information Center provided data for all 50 states. The cost of living, health care costs, and retirement income was also considered.
If you want to see the entire list, visit seniorly resource center website.