When it comes to planning retirement, most Americans find it very overwhelming. Can you really afford to live a good life with a limited income? According to a new list by GOBankingRates, Buffalo is in the top 11 cities to retire with a modest monthly income. When you do the math, $2,500 is $30,000 per year, which is certainly modest with inflation the way it is right now. GOBankingRates offers this advice for picking where to retire,

When choosing a city to retire in, it’s important to consider cost of housing, groceries, healthcare and overall livability.

Of course, most of us wouldn't mind retiring on a beach somewhere, spending our days growing old sipping margaritas. But, that may not be realistic, since in the words of the wise man Fat Joe,

yesterday's price is not today's price

Getty Images
Getty Images

Buffalo Named One Of Top 11 Cities To Retire On $2,500 A Month

Buffalo landed at number 9 and is the only city in New York that made the list. GOBankingRates estimates the cost to retire in Buffalo to be less than $2,500 at $2,040.

Buffalo is the No. 3 most expensive city on this list, thanks to the second-highest rent ($1,215) and grocery costs ($406) each month. But the healthcare expenses ($419 per month) fall in the middle of the pack. All things considered, living in New York state is going to be expensive, but Buffalo is a cheap alternative to New York City.

Photo by Josh Appel on Unsplash
Photo by Josh Appel on Unsplash

The number 1 city to retire on $2,500 is McAllen, Texas, with estimated monthly expenses of $1,812.

You can check out the full list here.

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