Wednesday, 18 August 2010

Can middle-income people retire in high-cost cities?

Poor Funny About Money. She wrote about her dream of moving to San Francisco, only to have her dream dashed when she realized that she had miscalculated her income.

But is this really true? A time-honored retirement strategy has been to sell the house in San Francisco or Boston and move to a lower-cost area. Can it go the other way? Are those of us who live in lower-cost areas doomed to never see the big city?

I mentioned to Funny that people rented garage apartments in Houston. I wondered if such were available in San Francisco. She was horrified. That's because she pictured living IN a garage. But the garage apartments I visited in Houston were ABOVE garages, behind very tony houses in good neighborhoods. The apartments were NICE. And very inexpensive.

So, readers: any ideas? San Francisco? Chicago? Philadelphia? Boston? Montreal? Toronto? Vancouver BC? Any way to live on a modest income?

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