Salary Needed to Live in Springfield as a Retiree
A retired individual (65+) needs approximately $21,331/year to live comfortably in Springfield, MA — including 5% savings.
Comfortable Salary
$21,331
with 5% savings
Bare Minimum
$19,850
no savings buffer
Monthly Expenses
$1,191
3% below national avg
Detailed Monthly Budget for a Retiree in Springfield
| Expense | Springfield | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $117 | $121 | -3% |
| 🛒 Groceries | $21 | $16 | +31% |
| ⚡ Utilities | $12 | $15 | -20% |
| 🚗 Transportation | $15 | $18 | -17% |
| 🛡️ Car Insurance | $176 | $229 | -23% |
| 🏥 Health Insurance | $65 | $58 | +12% |
| Medicare Supplement | $204 | $200 | +2% |
| Prescription Drugs | $153 | $150 | +2% |
| Internet + Phone | $122 | $120 | +2% |
| Recreation & Social | $204 | $200 | +2% |
| Home Maintenance | $102 | $100 | +2% |
| Total Monthly | $1,191 | $1,227 | -3% |
How We Calculated the Salary
Monthly expenses:$1,191
Target savings (5%):$67/mo
Monthly after-tax needed:$1,258
Effective tax rate:28%
Gross annual salary needed:$21,331
Other Household Types in Springfield
Related Pages
FAQ
What salary does a retiree need in Springfield?
A retiree needs approximately $21,331/year ($1,778/month gross) to live comfortably in Springfield with a 5% savings rate.
How much is rent for a retiree in Springfield?
A 1-2br senior-friendly in Springfield costs approximately $117/month, which is the largest single expense at 10% of the total budget.
Is Springfield affordable for a retiree?
Springfield is roughly average for retiree costs, requiring a salary close to the national median.