Originally Posted by OrangeBlossomBaby (Post 2406433)

So instead of guessing and supposing, I checked the actual social security website.

If you retire at age 67, and you earned lots of money during your life, your maximum possible social security check will be $4,018 per month before taxes and medicare part B premium.

You can live in The Villages for juuuuusssst around $2000/month. That will cover all the bills, including the weekly groceries, the lawnmower guy, and your cable TV. Figure around $500/month for taxes and Medicare Part B premium deduction. It means you'll have around $1500 left over every month for incidentals.

Now this is assuming you do /not/ have a mortgage or a large bond fee. If you used the proceeds from your house in Michigan to buy a pre-owned home in an area north of 466, you'll either have a low bond, or no bond, and no mortgage. So all your SS funds can cover all the other bills, with plenty left over.

However, if you didn't plan out quite that well when you were young, didn't have a terrific high-paying career, worked many lower-paying jobs, and barely get $1000/month in social security. Nope - that is totally not affordable, you MUST have some other source of income if you want to live in The Villages - or anywhere else for that matter.

Originally Posted by BrianL99 (Post 2406439)

I'm not even sure that would work.

Have you been to a grocery store lately?

Subsidized housing runs 30% of "adjusted income" (which in Sr Housing, is essentially be gross minus medical.

if the average SS check is $1900, the rent would be $550. $1350/month after rent, but before utilities? Tough to eat on that income.

Originally Posted by Bill14564 (Post 2406398)

I think it would be difficult but probably possible.

Figure $900/month for annual tax bill, utilities, and amenity fee. Another $500 (?) for groceries and $300 for home and auto insurances bring the total up to $1,700 per month.

If an average SS check is $1,900 then it looks like it is possible to live here on SS alone.

Originally Posted by Guzzel (Post 2406366)

Did anyone read the Letter to the Editor piece in the Village Nws titled, "You must have more than Social Security income to afford The Villages’ lifestyle".

The author states, "You cannot afford The Villages without having Social Security, investments and pensions or a combination."

Obviously everyone's financial situation is different and SS payments can vary greatly, but wanted to get other perspectives.

Guzzel

Originally Posted by Topspinmo (Post 2406448)

It does for hundreds of thousands that barely get by. Most don’t witness it, why they organization’s like meals on wheels.

Originally Posted by shut the front door (Post 2406576)

It's a total nonsense question. How can I tell someone else if they can afford to live here if I don't know their habits, wants, needs, and budget. Do you like to eat out 5x a week? Does your wife shop at Chicos? Do you travel? Do you have a car payment? Do you have a mortage?
Seriousy, such a stupid question to throw out without knowing the thousands of variables.

Originally Posted by Bill14564 (Post 2406584)

Not so stupid actually.

The question wasn't whether you can live RL Lemke's Dave Ramsey lifestyle, the question was whether SS provided enough to live. I don't have to find out but it looks like it is.

It probably isn't enough for a mortgage, it isn't enough for two cruises per year or flights to Europe, and it isn't enough to eat out three times per week but it looks like SS is enough to cover property tax, bond, home and car insurance, amenities, utilities, and food. A lot of us live better, but that is sufficient to live.

Originally Posted by OrangeBlossomBaby (Post 2406588)

The Villages website has an actual outlay of the expected cost of living in the community.
Here it is:
Cost of Living in The Villages(R): Affordable 55+ Community

And it does NOT include your mortgage, food, cable, health insurance/health expenses. You need to include these things in your configuration, if you're planning on living ONLY on your social security check. If you only get $1900/month, and you pay $1000/month on "The Villages" - then you have only $900/month left for food, internet, phone service, maintenance on your home and vehicle, health insurance, and everything else. It doesn't leave anything to save for the day your car breaks down and needs costly repairs, or if a year after you move in, your insurance company says they'll double your premiums unless you get a new roof.