Retirement in Chicago: 5 Reasons It Costs You Less Than $50,000 a Year

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However, the Windy City has more to offer than just its stylized hot dogs and deep-dish pizza.

Its midwestern charm mixed with big city amenities might just make Chicago your kind of town for retirement.

Also see Chicagos average yearly cost of living.

GOBankingRates recently conducted a study to examine price breakdowns of the cost of living in Chicago for retirees.

Heres why retiring in Chicago can cost you less than $50,000 a year.

With over 8,800 acres of green space, Chicago offers plenty of opportunities for free outdoor activities.

Contrary to popular belief, Chicago offers a range ofaffordable housing options.

Areas like Beverly, Hyde Park and Jefferson Park can provide reasonable home prices and rental rates.

Additionally, many retirement communities offer affordable living spaces that cater to your needs on a fixed income.

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Knowing these general statistics can help you gauge what youll need in your nest egg.

Chicagos dining scene is as diverse as its population.

From deep-dish pizza to international cuisine, the city offerscountless budget-friendly dining options.

Seniors can take advantage of early bird specials and senior discounts at many local restaurants.

GOBankingRates found that the average monthly cost of expenditures, including groceries, is just over $1,900.

Chicago is a senior-friendly city with numerous businesses offering discounts to retirees.

From grocery stores to movie theaters, seniors can save money oneveryday expenses and entertainment.