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Old 04-01-2012, 12:17 PM
 
1 posts, read 2,336 times
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I'm trying to get a sense of the cost of living in the St Augustine area. I own rental properties which I think can finance an early retirement (I'm 40). I have two scenarios...if someone owns a home in the St. Augustine area (no morgage), first, can they live a comfortable life on $3,000 per month ...second, how about $4,000 per month?

It's just me and there are no out of the ordinary expenses...so it just really comes down to regular living expenses (homeowners insurance, property taxes, gas/electric, groceries, etc). Also, if someone can give me a specific idea on the price of homeowners insurance and what property taxes run in the area, it would be appreciated.

Thanks in advance.
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Old 04-01-2012, 12:50 PM
 
Location: On the banks of the St Johns River
3,863 posts, read 9,514,766 times
Reputation: 3446
If you can't survive mortgage free in St Augustine on $3,000 a month you need to seriously reconsider your lifestyle. Now if you throw a car and insurance and gas for said vehicle into the mix $4,000 is more likely. Now how about health insurance? have you considered that?
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Old 04-01-2012, 01:35 PM
 
Location: Jacksonville FL
1 posts, read 2,325 times
Reputation: 10
As a single person you could probably do it, with a family forget it.
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Old 04-08-2012, 06:34 PM
 
38 posts, read 62,995 times
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why would you want to retire at age 40, and live off $4,000/mo? You would have to live a very simple life off that kind of income.
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Old 04-09-2012, 02:48 AM
 
1,071 posts, read 2,898,958 times
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SS99: Those are very difficult questions to answer without a lot more info. If you are serious about compiling a reasonable budget, you will need to first decide the location, type, construction material, size, age, and cost of the housing you want to live in. Your property taxes and insurance can fluctuate radically depending on the answers to those questions. I personally have no problem living mortgage free and car payment free in St. Augustine for under $3500 a month, but I don't spend much at all on entertainment, clothing, vacations, etc. Health insurance and medications are my costliest items.
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Old 04-11-2012, 09:56 PM
 
475 posts, read 901,152 times
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Quote:
Originally Posted by Eagle28 View Post
why would you want to retire at age 40, and live off $4,000/mo? You would have to live a very simple life off that kind of income.
Simple is good. I retired at 49 with just enough to get by and I been loving it for almost 2 years.
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Old 04-12-2012, 04:06 AM
 
Location: On the banks of the St Johns River
3,863 posts, read 9,514,766 times
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Quote:
Originally Posted by Eagle28 View Post
why would you want to retire at age 40, and live off $4,000/mo? You would have to live a very simple life off that kind of income.
Who cares why? The OP asked a simple question and probably wants a simple answer...It can be done but you would have to live a simple, single, boring life to accomplish it. With no car (and related expenses) and no health insurance. $3,000 a month maybe! $4,000 a month definitely!
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Old 04-18-2012, 03:56 PM
 
Location: Ponte Vedra Beach FL
14,617 posts, read 21,506,520 times
Reputation: 6794
The OP might post this question in the Retirement Forum. $3000/month really isn't a lot if you have to buy your own health insurance. Robyn
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Old 04-18-2012, 04:02 PM
 
Location: On the banks of the St Johns River
3,863 posts, read 9,514,766 times
Reputation: 3446
Notice the OP hasn't been posting/participating in the forum since his original first post, about three weeks ago.
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