4 Cities Where a Retired Couple Can Live on $40K

The concept of retirement has been always been romanticized and glorified in popular films and TV.

But retirement is a post-working life financial plan. It requires planning, strategy, and dedication.

One way a lot of retirees are making their retirement dollars stretch is by living abroad. While the cost of living is temptingly low in developing countries, culture shock and adjusting to life in a foreign country turn many off the idea.

If you and your spouse make at least $40,000 annually, however, there are many American cities where you can live out your retirement budget-consciously.

Here are four to consider.

San Marcos, Texas

San Marcos, Texas is a small city of about 69,000 people. It is located about 30 miles southwest of Austin and 80 miles northeast of San Antonio. San Marcos is accessible via Interstate 35 between both of those major cities.

A quaint college town with heritage, the city is famous for its earthquake-formed cave system and some of the largest outlet malls in the country. The local San Marcos river is idyllic and great for fishing, swimming, and sailing.

The average rent in San Marcos ranges between $1,100 to $1,500 monthly.

Sheboygan, Wisconsin

Sheboygan, Wisconsin, which is located in Sheboygan County, is a small city with a population of about 50,000. It is located on the eastern coast of the state at the shoreline of Lake Michigan. Sheboygan is 60 miles north of Milwaukee.

This is a Midwestern city near the Canadian border but it has moderate winters. However, the city has warmer summers and is known for its freshwater surfing on Lake Michigan. The city is referred to as the Malibu of the Midwest.

Sheboygan is also famous for its bratwurst and cheese culture and historical churches.

The average rent in Sheboygan ranges between $900 and $1,300.

Alton, Illinois

Alton, Illinois is a small town with a population of about 25,000. It is located in the southwestern corner of the state adjacent to the Mississippi border.

Alton’s shorelines are geographically situated between the Mississippi and Illinois rivers. St. Louis is just 21 miles south of Alton.

Alton is a small town that is large with history. Jazz legend Miles Davis was born there. The city has several historical museums and sites documenting underground railroad sites. You can also find opportunities for fishing and sailing. 

You can find apartments and small houses to rent anywhere between $650 to $1,200 monthly.

Eugene, Oregon

Eugene, Oregon is a city with a population of 175,000. The city is situated within the Willamette Valley near the Willamette river. Eugene is located about 110 miles south of Portland.

Eugene is a college town and a major haven for retirees looking for a quiet life. You will always find something to do in Eugene. Outdoor buffs can enjoy local forests, natural parks, and hikes. And there are always farmer’s markets or vineyards you can visit.

The average rent in Eugene ranges from $800 on the low end to $1,400 in the medium range.