[Topspinmo]

Originally Posted by OrangeBlossomBaby

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.

People who earned lots of money usually not concerned about SS income. It’s average earners that are concerned when retiring.

[Topspinmo]

Originally Posted by BrianL99

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.

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

[ElDiabloJoe]

Originally Posted by Bill14564

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.

Assuming you bought the house in cash and does not factor into the calculations. Also assuming you don't need gasoline, health insurance, car insurance, homeowners' insurance, dining out, alcohol, clothing, entertaining, soap, shampoo, toothbrushes, dishes, pots. pans, etc.

I agree with Bill14565, Is it do-able? Maybe. Comfortable? Probably not.

[rustyp]

Seems if one could live in TV on just SS it would be a very close to the vest situation. What would you do when your social acquaintances participated in other events not covered by amenities fees ? Why would one want to live here like that. Is that not akin to a recovering alcoholic visiting a bar everyday as a test of self discipline ?

[asianthree]

I wouldn’t count mortgage (sold previous house paid cash)or food (one was eating before moving to TV) car insurance already in existence. WiFi, streaming, and cell already on the books.

Per year budget on

PV $1100 month
Cottage $1300 month
Designer depends on SF ours at 2000sf $1425 month

That would be homestead taxes, insurance, electric, gas if you have, lawn and your CDD bill. Lots of things to entertain yourself and keep active for free.

So sure if one was living elsewhere on SS, you could manage a home in TV. Or like some could rent long term, and not have to worry about taxes, lawn, CDD.

I know a few who live just on SS, my Mom does it easily even with paying in house help. She does takeaway 3 days a week, never fast food.

[JohnN]

only if you can eat beans every day, literally

[fdpaq0580]

Originally Posted by Guzzel

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

My opinion, yes. Home and lifestyle will not be extravagant, but you can be comfortable. Low expectations. Lots of "free" entertainment. Walking, music at the squares, fishing at the ponds, bird/wildlife watching, gardening. Amenities open the clubs, music, games, etc, to TV residents.
That being said, there are probably better options.
Good luck!

[asianthree]

Originally Posted by Topspinmo

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

Meals on wheels isn’t just for low income. Those who live alone are prime candidates for this service. PC docs and social workers highly recommend MoW, especially for newly widowed.
Five days a week usually the same person delivers a hot meal, at lunchtime, has a conversation with the person, gives human contact with a personal touch.

Meals run $5-8.50 per meal. There is also option of 5 frozen meals delivered once per week, with a longer visit for those who choose this method.

Each individual is evaluated for not only financial, but for those who can no longer navigate outside of home, from low vision, recovery from stroke, or replacement devices.

[dewilson58]

$5,000 per month.................sure.

[RL Lemke]

I’ve taken real numbers to develop our planned Monthly Nut, with all the regular monthly and annual expenses. Our social security covers everything except food and travel, with a $5,000 delta. That is with us paying cash for our home in The Villages. I’d say that $5,000 per month for incidentals, meals and travel is sufficient for our Dave Ramsey lifestyle. While we have a significant investment portfolio, we want to leave it to grow while providing security for our declining years.

[shut the front door]

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.

[Bill14564]

Originally Posted by shut the front door

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.

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.

[OrangeBlossomBaby]

Originally Posted by Bill14564

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.

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.

[Bill14564]

Originally Posted by OrangeBlossomBaby

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.

My numbers for the items listed in their cost of living table plus car insurance comes to $1,000 per month in 2024 (it was a little less in 2023). So that leaves the $900/month that you identified.

I can't use my grocery spending since I go out frequently and don't worry about trying to save money. The internet says $400 per month per person is a good number. That leaves $500 per month. Granted, $500 is not a lot. On the other hand, steak for dinner, Culver's for lunch, and cable television are not necessities.

Again, the question isn't whether you can live comfortably or even live well, the question was whether you could live.

[badkarma318]

Yes, I know numerous people who do. A few have big bank accounts and choose to live that way for whatever reason (not everyone needs a second home on a lake to brag about endlessly, nor take multiple expensive vacations every year).

A few live in the northern areas, bought their home outright many years ago, and have low property taxes/monthly fees.

None of them are eating dog food out of a can, and all of them are enjoying a good quality of life.