How Much It Truly Costs to Retire in Idaho
Just yesterday I was talking with my kids about how much growth has happened in the last four years since we moved here. I told them part of the reason is people want to retire in the Treasure Valley because it's cheaper. Here's the reality of that it would cost to live-out those golden years in the 208.
According to a study by msn.com, it costs $58,335.71 a year to retire comfortably in the Gem State. Far less than in New York, California, or Hawaii where you need over six figures a year to get by.
Even though we've seen the price of housing soar over the past few years, homes are still much cheaper here than in many parts of the country. In fact, the average annual spending on housing is $14,484 which is more than $2000 below the national average.
The only catch point in Idaho is that transportation costs are higher. you need $8,107 per year to get around Idaho, which is about $600 more than the rest of the country.
The older I get the more I start thinking about and worrying about retirement. I haven't saved as much as I should, but I'm grateful to have slid underneath the Treasure Valley housing boom and to have started early in life in purchasing a home. The secret is definitely out about Idaho, but I'm perfectly happy to sit back in my cozy little house and watch the road outside my neighborhood continue to get busier and busier.