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How Much Does It Cost to Retire in Minneapolis-MN?

The Twin Cities offer a lot of retirement options and great quality of life for seniors in the area. If you are considering Minneapolis for retirement, it is important to consider your options and take the time to explore your retirement from many different angles.

Careful consideration before committing to a retirement community or independent living community will help ensure that you make the choice that will make you and your spouse the happiest in the long term. If you are a younger retiree or are just still very independent and able to meet a lot of your needs, then you may consider investing in a home in Minneapolis.

Housing And Overall Utilities

Reading the cost structure of a rental and the services included are extremely important. Generally speaking, the more services you need, the higher the cost. When you look at the fee structure, it may be that you would be better off choosing a higher level of service because it is a better deal than taking care of it on your own.

Basic utilities are included in many rentals. What is considered basic however is going to vary. If you use the internet a lot, then you need to know if you are responsible for this bill in addition to the standard cost of accommodation.

One bedroom apartments in Minneapolis will cost you $1445 a month on average, and two bedroom apartment rents average $2007. Of course, this is just rent. Any extra services are up to you. With these prices, you can anticipate that you could save $500 per month by sharing an apartment with a roommate.

Estimating Health Care Costs

The cost of health care is going to vary based on your current and future health trends. If you have veterans benefits or good insurance, you may not have to worry about any health care costs. However, if you are unsure about where you stand on this, it is crucial to find out what type of coverage you have when you pool all your plans and resources together.

You may also qualify for programs that you are not aware of. A retirement counselor or financial planner can help with this. Veterans service offices in your area can help you apply for veterans benefits if you are a veteran, surviving spouse, or in some cases, if you had a child that is or was a veteran.

Meeting People And Engaging In Community Are Free

There are a lot of activities and people to spend time with in Minneapolis. Just enjoying a book in the park or taking in some music can lead to finding a new friend.

During your retirement, you may wish to find time to help others. Nonprofit groups and local government agencies such as the parks and recreation department have all sorts of fun and interesting projects for you to work on. The public library system is extensive and offers volunteer opportunities as well as computer access and a huge selection of books in electronic and paper format.

Learn more about Minneapolis Retirement Planning here:

What's the Cost of Living in Minneapolis, MN?

Minneapolis Financial Advisors

Minneapolis Elder Law Attorneys

Minneapolis Senior Realtors

Minneapolis Senior Movers and Downsizers

Minneapolis Neighborhood Guide

Live Like a Local in Minneapolis

Minneapolis Demographics and Lifestyle

Find assisted living in Minnepolis near you.