Best Places to Retire on Social Security

Best Places to Retire on Social Security

For many Americans, their Social Security checks are their biggest source of income when they retire. Nearly all retirees in the country will choose to access these benefits, which will make up almost 90% of their total retirement income. For the average American, this equals around $1,300 each month to cover their basic living expenses, such as housing, food, transportation, health care, and so on. With high costs of living in many cities, this money alone may not cover the costs that are necessary to live comfortably.

Best Cities to Retire in with Social Security

Knowing that Social Security will make up a large part of your retirement income, you may choose to retire to another city than the one you have been living. Some cities are more affordable when a Social Security check makes up your entire income.

Cities that have a lower cost of living are:

  • Buffalo, New York
  • Austin, Texas
  • Albuquerque, New Mexico
  • Spokane, Washington
  • Grand Rapids, Michigan
  • Pittsburgh, Pennsylvania
  • Jacksonville, Florida
  • St. Louis, Missouri
  • Tucson, Arizona

To increase benefits for your retirement, experts suggest waiting until you are older before you begin claiming Social Security. The older you are when you begin claiming benefits, the higher the payout amount will be.

If you are concerned about how you will be able to afford basic living expenses when you retire, contact a lawyer who understands Social Security benefits. Our firm can work with you to determine what benefits you are eligible for and can help make your retirement a more comfortable experience.