What a Comfortable Retirement Will Cost You In These 5 Major West Coast Cities
Written by
Sean Fisher, AI Editor
Edited by
Sean Fisher
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Retiring on the West Coast can be a dream come true, with its stunning landscapes, mild climates, and vibrant cultural scenes. However, the cost of a comfortable retirement varies significantly across different cities. Here’s what you can expect in five major West Coast cities:
San Francisco, California
Known for its iconic Golden Gate Bridge and steep streets, San Francisco is also infamous for its high cost of living. A comfortable retirement here could easily cost upwards of $100,000 per year. Housing is the largest expense, with median home prices well over a million dollars and high rental costs. Add in expenses for health care, transportation, and leisure activities, and you’ll need a substantial retirement fund to enjoy the Bay Area life fully.
In total, according to the San Francisco Chronicle, it costs a whopping, “$1.37 million — nearly 40% higher than the national average” for a full retirement in San Francisco. Talk about some expensive golden years next to the Golden Gate.
Los Angeles, California
The sprawling city of Los Angeles, famous for Hollywood and its beautiful beaches, is another expensive retirement destination. To live comfortably in LA, retirees should budget around $80,000 to $90,000 per year. KTLA reported, “A retiree in California would need $90,399 annually to live comfortably during retirement.”
While housing costs are slightly lower than in San Francisco, they are still significant. Additionally, transportation costs can be high, given the city’s vast geography and reliance on cars.
Seattle, Washington
Nestled between Puget Sound and Lake Washington, Seattle offers a mix of urban and natural attractions. For a comfortable retirement in Seattle, expect to spend around $70,000 to $80,000 annually. While living costs are lower than in California’s major cities, Seattle still has relatively high housing prices. The city also has a vibrant dining and cultural scene, which can add to your entertainment budget.
Portland, Oregon
Known for its parks, bridges, and bicycle paths, as well as its eco-friendliness and coffeehouses, Portland offers a more affordable option on the West Coast. A comfortable retirement in Portland could cost between $60,000 and $70,000 per year. Housing is more affordable than in California or Seattle, and the city offers a range of activities and services that are attractive to retirees.
San Diego, California
Famous for its beaches, parks, and warm climate, San Diego is a popular retirement destination. To retire comfortably here, plan on spending around $75,000 to $85,000 per year. While housing costs are high, they are not as steep as in Los Angeles or San Francisco. San Diego’s laid-back lifestyle and plethora of outdoor activities make it a desirable location for many retirees.
Retiring on the West Coast means balancing higher living costs with the perks of beautiful scenery and a range of cultural and recreational activities. Careful financial planning and budgeting are key to ensuring a comfortable retirement in these vibrant West Coast cities.
Editor's note: This article was produced via automated technology and then fine-tuned and verified for accuracy by a member of GOBankingRates' editorial team.
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