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Costs for housing and groceries can quickly eat up yourretirement savings.
We often hear about needing between one and two million to comfortably retire.
But the average amount held in a retirement account today is just about $88,000.
Nevada Is Expensive
Lets start with this Nevada is probably not as cheap as you might think.
In general, the cost of living in Nevada is nearly 10% higher than the national average.
Thats based on the total annual expenditures in the state totaling $58,454.
Groceries are Expensive
You may have noticed the annual grocery cost in Nevada is about $5,000.
According to Help Advisor, the state ranks second for the nations highest average weekly grocery bills.
Only California is higher.
Paying for Tourism
Nevada is known for tourism and youll help pay for that as a retiree.
Youll see higher-than-average sales taxes.
Gas Prices are Expensive
Gas prices are another challenge for retirees in Nevada.
One reason is that the state relies heavily on natural gas, but produces none.
Prices for gas to fill up your car can also be pretty high in Nevada.
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