Is Social Security Enough to Live in TV?

Reply
Thread Tools
  #1  
Old 02-02-2025, 08:18 AM
Guzzel Guzzel is offline
Member
Join Date: Dec 2023
Posts: 35
Thanks: 8
Thanked 19 Times in 13 Posts
Default Is Social Security Enough to Live in TV?

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
  #2  
Old 02-02-2025, 08:51 AM
Bill14564 Bill14564 is online now
Sage
Join Date: Nov 2020
Location: Village of Hillsborough
Posts: 6,336
Thanks: 1,944
Thanked 6,779 Times in 2,636 Posts
Default

Quote:
Originally Posted by Guzzel View Post
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
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.
__________________
Why do people insist on making claims without looking them up first, do they really think no one will check? Proof by emphatic assertion rarely works.
Confirmation bias is real; I can find any number of articles that say so.


Victor, NY
Randallstown, MD
Yakima, WA
Stevensville, MD
Village of Hillsborough
  #3  
Old 02-02-2025, 08:57 AM
Bay Kid's Avatar
Bay Kid Bay Kid is offline
Sage
Join Date: Feb 2013
Location: The Villages and the Northern Neck on the Chesapeake Bay, VA.
Posts: 5,950
Thanks: 1,674
Thanked 3,383 Times in 1,480 Posts
Default

I don't feel anyone can live off SS.
  #4  
Old 02-02-2025, 09:02 AM
LuvtheVillages LuvtheVillages is offline
Veteran member
Join Date: Jan 2014
Location: Tamarind Grove
Posts: 521
Thanks: 229
Thanked 743 Times in 234 Posts
Default

Quote:
Originally Posted by Bill14564 View Post
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.
I agree with your numbers, but you have not included anything for rent/mortgage payment. So you are assuming the person has enough resources to purchase a home free and clear.

Also, that leaves a very small amount for recreation activities.
  #5  
Old 02-02-2025, 09:07 AM
Bill14564 Bill14564 is online now
Sage
Join Date: Nov 2020
Location: Village of Hillsborough
Posts: 6,336
Thanks: 1,944
Thanked 6,779 Times in 2,636 Posts
Default

Quote:
Originally Posted by LuvtheVillages View Post
I agree with your numbers, but you have not included anything for rent/mortgage payment. So you are assuming the person has enough resources to purchase a home free and clear.

Also, that leaves a very small amount for recreation activities.
Yep. But the question was whether one could live here on SS, not whether they could sustain a particular lifestyle.

Actually, the cost for recreation activities could be negligible with so many activities included with the amenity fee.
__________________
Why do people insist on making claims without looking them up first, do they really think no one will check? Proof by emphatic assertion rarely works.
Confirmation bias is real; I can find any number of articles that say so.


Victor, NY
Randallstown, MD
Yakima, WA
Stevensville, MD
Village of Hillsborough
  #6  
Old 02-02-2025, 09:09 AM
BrianL99 BrianL99 is offline
Sage
Join Date: Dec 2021
Posts: 2,947
Thanks: 275
Thanked 3,064 Times in 1,163 Posts
Default

Quote:
Originally Posted by Guzzel View Post
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

Is there some place in the USA, where one could live on Social Security, alone?
  #7  
Old 02-02-2025, 09:38 AM
MrFlorida MrFlorida is offline
Platinum member
Join Date: Feb 2021
Posts: 1,779
Thanks: 99
Thanked 2,465 Times in 877 Posts
Default

Depends on how much you get, but I don't think it's possible.
  #8  
Old 02-02-2025, 09:46 AM
Topspinmo's Avatar
Topspinmo Topspinmo is offline
Sage
Join Date: Dec 2012
Location: Somewhere over the rainbow
Posts: 14,198
Thanks: 7,140
Thanked 5,768 Times in 2,940 Posts
Default

Quote:
Originally Posted by Guzzel View Post
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
Unless you inherited house with low taxes IMO no. Somebody on low income with no saving would be hard to come up with 3K taxes yearly average, plus homeowners insurance. Including vehicle even more expenses. Then, got to $230 plus monthly amenities/utilities and unforeseen costs like roof, water heater, A/C. IMO you would have have retirement income of 50,000 plus.
  #9  
Old 02-02-2025, 09:47 AM
Topspinmo's Avatar
Topspinmo Topspinmo is offline
Sage
Join Date: Dec 2012
Location: Somewhere over the rainbow
Posts: 14,198
Thanks: 7,140
Thanked 5,768 Times in 2,940 Posts
Default

Quote:
Originally Posted by BrianL99 View Post
Is there some place in the USA, where one could live on Social Security, alone?
Qualified low income housing, where payment base on income.
  #10  
Old 02-02-2025, 09:50 AM
Topspinmo's Avatar
Topspinmo Topspinmo is offline
Sage
Join Date: Dec 2012
Location: Somewhere over the rainbow
Posts: 14,198
Thanks: 7,140
Thanked 5,768 Times in 2,940 Posts
Default

Quote:
Originally Posted by Bay Kid View Post
I don't feel anyone can live off SS.
Millions do, but barely.
  #11  
Old 02-02-2025, 10:00 AM
Topspinmo's Avatar
Topspinmo Topspinmo is offline
Sage
Join Date: Dec 2012
Location: Somewhere over the rainbow
Posts: 14,198
Thanks: 7,140
Thanked 5,768 Times in 2,940 Posts
Default

Another thing nearly every day somebody looses long life partner and shortly afterwards financial crisis emerges and the life style changes. In my case cause my wife followed me around world in military she have little career choices and would struggle to live here after 10 years of my death due to lost of my benefits. I0 years we have been here we hear of or witness this where spouse had died and other had to move due to financial crisis.
  #12  
Old 02-02-2025, 10:03 AM
OrangeBlossomBaby OrangeBlossomBaby is online now
Sage
Join Date: Feb 2015
Posts: 9,814
Thanks: 7,873
Thanked 11,002 Times in 3,654 Posts
Default

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.
  #13  
Old 02-02-2025, 10:06 AM
CarlR33 CarlR33 is offline
Veteran member
Join Date: Dec 2023
Location: Richmond
Posts: 601
Thanks: 539
Thanked 433 Times in 219 Posts
Default

Similar to your recent post “COL in the villages”. I don’t think SS is the sole income provider for retirees and if it is they have to adapt and adjust accordingly. There are plenty of low cost homes in the north so I am sure it could be done with making personal adjustments (no trips overseas or extravagant trips in general). I would hope the percentage of people living solo of SS is small but sometimes I look and wonder when some peoples bubble will bust.
__________________
I will say the things that others are probably thinking but afraid to say.
  #14  
Old 02-02-2025, 10:09 AM
BrianL99 BrianL99 is offline
Sage
Join Date: Dec 2021
Posts: 2,947
Thanks: 275
Thanked 3,064 Times in 1,163 Posts
Default

Quote:
Originally Posted by Topspinmo View Post
Qualified low income housing, where payment base on income.
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.
  #15  
Old 02-02-2025, 10:17 AM
mrf6969 mrf6969 is offline
Senior Member
Join Date: Nov 2011
Location: here full time
Posts: 471
Thanks: 34
Thanked 380 Times in 167 Posts
Default

Living on only Social Security is not a good retirement plan. If that is a person's plan, then I could not call that "living," and more just an existence.
Reply

Tags
security, social, afford, wanted, everyones

Thread Tools

You are viewing a new design of the TOTV site. Click here to revert to the old version.

All times are GMT -5. The time now is 10:37 AM.