Wanting to move to The Villages (annual income)
 

If I was able to pay off a house there; would I be able to live in The Villages on an annual salary of about $50,000?

Yep

If you will be mortgage free -- then more than enough.

Most likely but you need to look at your expenses as well as income, just as you would anywhere else.

You'll do great

You say salary. If you think you are going to get a job that pays that in TV you may want to check what jobs pay around here. Generally lower than what you would expect. If you meant income from SS and investments you can live very comfortably on that amount. You cannot golf at the country clubs daily and eat out every night, but, probably half the households here spend less than 4K a month.

50K? Figure on doing just fine.

Just remember that a salary of $50,000 has $10,000 taken out by Federal withholding and FICA.

Taxes and Insurance here in FL are quite high and they will cut into the $50k a bit. Like others stated you need to do a budget and see how it pans out when you add up all the expenses.

Hi jayerose: You ask a fairly broad question, one that I would feel uncomfortable to respond to without more detail. One poster asked if your $50,000 (4,1666.66 per mo) was a result of retirement income or a viable occupational income. Additionally if you expected that you could secure such income....Maybe you can maybe your occupation is universal? Or maybe its retirement income?
How old are you and how many people will be dependent on your income?
Are there health issues with you or dependents?
You address paying off a mortgage but other than that absent are other debt obligations.

The Villages marketing states you can live a millionaire's lifstyle on your retirement income. I view this as hyperbole. If you want to live like a millionaire you either have to be one or suffer the debt consequences...but then again living like a millionaire is in the eye of the beholder

Next is your lifestyle. Are you are active and travel or a homebody?

One's lifestyle is dictated more by "outgo" than "income."

thank you, everyone!

it would be my retirement (pension, social security and 401k). I don't have anyone to take care of and my health is ok.

someone told me to research whether I would want to pay off my mortgage or keep that money and make mortgage payments.

I visited The Villages earlier this year and loved it...and having Walt Disney World an hour away is another great plus :smiley:

Impossible to answer unless one knows your life style, bills other than mortgage,
is the 50Ksalary, guaranteed income? or variable, how many years until you retire-if not already, whether you plan to live here or near here should you require assisted living , would you have access to other incomes, what type of house/CYV you would want, how many cars you would have, etc. etc. etc. Too little information. I can think of some who might be able to live on that amount, and them some who would feel stiffled. Depends on your life

I agree with Disney being so close it great, but I need a separate budget for Mickey. If you came, you saw, you loved it, think about renting in couple different areas to see what fits for you. I chose to take a mortgage instead of cash. If you have specific questions you can pm anyone on this site.

A lot of my neighbors live quite happily in The Villages on only their social security and maybe a small pension. The expenses here are no higher or lower than in other parts of Florida.

Disney sells an annual pass for Florida residents only which, if you use it a lot, can be a really good deal.