Where Social Security Stretches The Furthest

Via bizjournals.com

With the average cost of living in Arizona being $19,102 annually, 10 counties in the state provide Social Security benefits near the annual cost of living for those regions, according to a study completed by SmartAsset.

The study shows in which counties it would be easiest for Arizona residents to live primarily, or entirely, off of Social Security benefits upon retirement for basic necessities.

Mojave, Pinal, La Paz and Graham counties provide Social Security benefits that exceed the cost of living in those counties, with benefits in Mojave County exceeding cost of living by more than $1,000.

In Mojave County, Social Security benefits average $19,302 compared to an average cost of living of $18,182.

In Pinal County, Social Security beneficiaries see an average of $500 more with average benefits of $19,810 compared to a cost of living average of $19,318.

In La Paz County Social Security benefits exceed the cost of living by $300 and in Graham County Social Security benefits exceed the cost of living by $65.

But Social Security benefits don’t quite cover costs in Arizona’s largest county, Maricopa County, where cost of living exceeds benefits by $28. Pima County is similar with a cost of living that exceeds SS benefits by $37.

But retirees looking to settle in Yavapai, Gila, Yuma and Navajo counties need supplemental income to make ends meet. Yavapai County’s cost of living exceeds benefits by more than $1,000. Gila, Yuma and Navajo counties have a cost of living that exceeds benefits by anywhere from $1,600 to $2,000 annually.

 

 

 

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