Will I be OK on this salary in Myrtle Beach?

[blueherons]

Originally Posted by shabbycasa

Gosh, wish you had not posted that - now I don't know if I can afford to retire here, especially with the increased costs of health care, utilities and food - things most likely to affect retirees.

Here's my calculation for Waco, Texas vs. Myrtle Beach - Waco is close to my little village and prices are pretty much the same:

Price difference in Myrtle Beach, SC

• Groceries 22%more
• Housing10%less (no effect on me except for taxes which are lower in MB)
• Utilities 37%more
• Transportation 5%less (no real effect since we won't travel much beyond the area)
• Health Care 7%more

Yes, Texas that I have researched, is a cheaper place to live. At one time I was looking at oceanfront houses in Padre Island because they were considerable less expensive than Myrtle Beach (ten years ago maybe?) and the warmer year round climate.

Keep in mind one of the factors is that Texas has no state income tax and South Carolina does. That will take a chunk of your income.

Plus Texas is such a cool state.

[SC here I come]

The utilities thing is wrong on that calculator. I live on LI, and we pay some of the highest, if not highest in the country. My friends in Myrtle beach pay a fraction of what I pay. Though the calculator is telling me that MB utilities are higher.
The biggest issue that's missing from the cost calculator is "Property Taxes". That alone is one of the major factors for me moving down there.
Taxes on the home I just sold are now over (or will be come next month) 11K a year!! Nope, that's not a typo. That's 11K per year. My taxes on my new home being built, (which is 3500 SQ compared to the old 1600SQ) wil be $850 per YEAR. Might even be cheaper than that, when all is said & done.

Is MB the cheapest place to live in the US?? Nope, far from it. But it's the place I want to live, and that's all that really matters, right??

[shabbycasa]

Originally Posted by SC here I come

The utilities thing is wrong on that calculator. I live on LI, and we pay some of the highest, if not highest in the country. My friends in Myrtle beach pay a fraction of what I pay. Though the calculator is telling me that MB utilities are higher.
The biggest issue that's missing from the cost calculator is "Property Taxes". That alone is one of the major factors for me moving down there. Taxes on the home I just sold are now over (or will be come next month) 11K a year!! Nope, that's not a typo. That's 11K per year. My taxes on my new home being built, (which is 3500 SQ compared to the old 1600SQ) wil be $850 per YEAR. Might even be cheaper than that, when all is said & done. Is MB the cheapest place to live in the US?? Nope, far from it. But it's the place I want to live, and that's all that really matters, right??

SC, you are absolutely right about being the place to live!

Property taxes in Texas are horrendous - my bill will be more than cut in half and I'll have a newer, much nicer home in the process - can't beat that with a stick!

After a little research with that calculator, I think it all may be inaccurate. Every state I checked showed that MB was more expensive in most categories. I plan to retire in MB no matter what - guess I could become a bag lady!

With fishing by my hubby and gardening/buying from locals by me, I think we'll be okay....need to lose a little (uh, lot) of weight any-hoo-hoo!

Happy New Year, Everyone!