What Is a Good Retirement Income in Minneapolis, MN?
What Is a Good Retirement Income in Minneapolis, MN? Retirement planning is a crucial step in ensuring financial stability and a comfortable lifestyle during your golden years. But what exactly is considered a good retirement income in Minneapolis, MN? The answer depends on various factors, including living expenses, healthcare costs, and personal lifestyle choices. Understanding the Cost of Living in Minneapolis Minneapolis offers a vibrant city lifestyle with access to cultural attractions, outdoor activities, and excellent healthcare facilities. However, the cost of living in the Twin Cities is slightly higher than the national average. Key expenses include: Housing: The median home price in Minneapolis-St. Paul hovers around $350,000, while renting a one-bedroom apartment costs approximately $1,400 per month. Healthcare: Medicare helps cover many medical costs, but out-of-pocket expenses for prescriptions…