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Have you thought aboutretiringin Illinois?
Despite this, the cost of living for retirees in Illinois is actually lower than in many other states.
So, how much do you’re gonna wanna have saved to retire in Illinois?
For a 20-year retirement, this comes out to $630,203.
If youre planning a 25-year retirement, you will need $787,754.
For a 30-year retirement, you will need $946,251.
Annual grocery costs in Illinois average out to around $4,730, compared to $4,797 nationally.
That means Illinois housing prices are 21.2% lower than average.
However, whether you actually save money on housing will depend on where you live in the state.
These arecheaper electricity ratesduring off-peak hours when demand for electricity is lower.
There is an annual income limit, and you oughta apply through the Illinois Department on Aging website.
The states benefits program also gives seniors a discount onlicense plate fees.
Healthcare Is Slightly Cheaper
Healthcare costs in Illinois are 4.1% below the national average.
A good way to save money on healthcare is to stay as healthy as possible.
All data was collected and is up to date as of Jan. 8, 2024.
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