With retirement comes new concerns, the chief among them is how to handle the cost of living on a fixed income. You can no longer rely on raises, bonuses, or promotions to catch up with rising prices.
Losing years of retirement savings due to the high cost of living expenses could be tragic. You need to figure out ways to stretch the money you have put away for as long as possible while keeping a satisfying standard of living.
Relocation to a region with a lower cost of living can be the solution for many people on a fixed income. Corpus Christi, Texas, while more expensive than the cheapest American regions, is still affordable in many important ways.
Senior care in Corpus Christi can be affordable compared to the national average. A semi-private room in a nursing home in Corpus Christi is only about $57,000. A private room will run just under $79,000 per year. Compare that with the national median costs of $80,300 and $91,250, respectively. Corpus Christi can be a great location for affordable senior care.
Gasoline prices in Corpus Christi are affordable for most people at between $1.40 and $2.00 per gallon. Although for most retirees, this isn’t a great concern, since you no longer have a daily commute or school run to perform every day.
Insurance rates in Corpus Christi are about the national average, but your rates will depend on your driving history, age, and make/model of your vehicle. All things being equal, you’ll pay for what you did in your home state.
The cost of groceries in Corpus Christi are just lower than the national average; a quart of milk is about $0.75 and a dozen large eggs can be bought for under $2.50.
Eating out in Corpus Christi is reasonably priced. A fast-food meal will range in cost from $6 to $8, and a decent pub meal for one will be between $15 and $20.
Rent in Corpus Christi is about the national average. You’ll rent a one-bedroom apartment for $896 on average in a normal neighborhood, and $1300 in an expensive area. Utilities are relatively inexpensive in Corpus Christi; two people in a one-bedroom apartment will pay about $110 per month for heat, electric, gasoline, etc.
Corpus Christi offers opportunities for many retirees to sell up; the average home price is only $121,848. You’ll have to rush to get a good deal though; home appreciation has been about 25% this past year.
If you’ve determined that relocation is the way to secure your lifestyle and finances in retirement, start checking the numbers. Do your research and decide where the best place is for you. Factor in transportation, climate, medical care access, and make sure that you’ll be moving into a better situation. With careful calculation, you’ll ensure that your retirement nest egg supports you for the rest of your life.
Find assisted living in Corpus Christi near you.