Affording to live in TV
 

This may seem kind of personal, but I was wondering what the average retirement income is for people who have moved to TV. I realize much depends on the type of housing that is chosen and the extra amenities one might want, but I've been asked this question many times and I'm kind of curious, too. Not that anyone needs to say what their income is!! I'm not nosey!

Stats that have been posted on here before, the average is $93,000. If I remember this is based on IRS data. (?)

This subject was addressed in a recent post. Bogie's $93,000 income is correct but as Russ Boston mentioned, this salary includes income of some people who are still working.

IMO- The $93,000 seems high (but not off the charts) If money is tight, I'd advise buying something more affordable. All Village people get the same stuff. It doesn't matter if you buy a $135,000 Patio villa or a 1 million dollar cottage. Live within your means.

I'm not sure I was the one who mentioned working but maybe I was pointed to since I will be working while in TV.

To me you can't go by average or even median income.

Go by what your budget will be:

Income -

Mortgage (if any)
taxes
bond (if any)
amenity fee
utilities
sewer, water
cable
savings
car payments
cart payments
monthly fun (golf, etc.)

put that budget together and multiply by 12. Is it enough? OK come joint the fun!

One of the many things I admire about TV is how they have made this lifestyle available to all ends of the financial spectrum. Regardless of which Village you live in, $135/mo gives you equal access to all the amenities including the free golf on the executive courses.

One does not need $93,000/year to live here. I know many who live in this community with very modest incomes.

What you need depends upon what you want. If you buy a smaller house or a villa, depending upon size, housing costs will be less than a larger home with lots of upgrades. Your television bill will be determined by what type of service you want....high def, movie channels, sports packages. Your water bill is dependent upon usage....same for gas and electric. If you want your lawn cut, it could cost from $40/month and up. Many people tend to their own yards.

I find auto insurance as well as house insurance similar to what I paid in CA. There it was earthquakes, here it's storms.

Not sure where you're living now, but I don't find it any more expensive or less expensive than where I lived in CA. Some things are more expensive, other things less expensive. It evens out.

Remember, you will pay a monthly amenity fee....but all pay and it's about the same for everyone.

I thought this was a figure that was thrown around to attract the retailers to the area. I do not think this total reflects the people living on pensions, social security and other retirement income.

93k
 

is that figure per household or per individual

Household income Lady Lake, FL
 

Here is a URL for household income for Lady Lake, FL
http://www.clrsearch.com/RSS/Demogra...usehold_Income
I hope that $93,000 isn't required for TV or snowbirdtobe will fly back home to a much lower cost Massachusetts.

Not sure about the accuracy of this graph. There are only 7200 households listed. I can't find the date on it.

Not to worry snowbird,that figure is not required to live here at all. However, do most of you think that the average income of new residents is more or less than say, five years ago?

93,000 ????
 

We've been living here for 10 years on a heck of a lot less than that,and quite well I might add.

From another thread
 

Quote:

44,629 is the average median household income according to the US Census figures for 2008. That is a far cry from $93,000. There are only about 11 counties in the entire US where the median household income is $93,000 and above. Four of those are in Northern Virginia, two are in Maryland (just across the border from Virginia), three are in New Jersey, one in Colorado and one in New York.

From BK Cunningham.

https://www.talkofthevillages.com/fo...+income&page=2

Do a search for the thread "60K'. It will provide additional information of what some people are living on in TV.

One post from "cybrgeezer" claims they know of a couple who are living on 32K per year.

It is an individual choice as to how much one needs to live on. I find it helpful to crunch the numbers. Basic housing cost that are stated on TV website is accurate. There are some variables but one should decide for themselves how much entertainment such as eating out etc one will be able to do.

The "nuts and bolts section" has a three part article by zcaveman on TV that you will find useful.

IMHO - If the 93K were the absolute minmum, there would a lot less people in TV. I know I wouldn't be moving to TV.

The original question was "what is average retirement income" not what is the average income required to live in the Villages.

I have looked at this at about every way possible and have come up with what I believe you need. Decide on your home type you require. Decide if you will have a mortgage. Add the cost of the mortgage, plus $1000 a month. (this includes all utilities, lawn, pest control, cable, bond, taxes, car except for car payment, insurance, etc) This gives you everything except food, cloths, medical and entertainment. Figure what those will cost and that should come real close to your budget requirements. If you have a net (after tax income) of $36000 a year I believe you can live comfortably. If you want a European vacation every year or new Mercedes every 3 years, or some other higher then average expense, add that to the $36000 a year. If you only dine out once a week, only play golf on executive courses, and live frugal, then the $36000 can be lower. Probably an absolute minimum is around $28000 with no mortgage.