Salary Needed to Live in Springfield as a Retiree
A retired individual (65+) needs approximately $16,661/year to live comfortably in Springfield, MO — including 5% savings.
Comfortable Salary
$16,661
with 5% savings
Bare Minimum
$15,535
no savings buffer
Monthly Expenses
$958
20% below national avg
Detailed Monthly Budget for a Retiree in Springfield
| Expense | Springfield | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $106 | $121 | -12% |
| 🛒 Groceries | $16 | $16 | 0% |
| ⚡ Utilities | $9 | $15 | -40% |
| 🚗 Transportation | $11 | $18 | -39% |
| 🛡️ Car Insurance | $135 | $211 | -36% |
| 🏥 Health Insurance | $50 | $53 | -6% |
| Medicare Supplement | $164 | $200 | -18% |
| Prescription Drugs | $123 | $150 | -18% |
| Internet + Phone | $98 | $120 | -18% |
| Recreation & Social | $164 | $200 | -18% |
| Home Maintenance | $82 | $100 | -18% |
| Total Monthly | $958 | $1,204 | -20% |
How We Calculated the Salary
Monthly expenses:$958
Target savings (5%):$54/mo
Monthly after-tax needed:$1,012
Effective tax rate:26%
Gross annual salary needed:$16,661
Other Household Types in Springfield
Related Pages
FAQ
What salary does a retiree need in Springfield?
A retiree needs approximately $16,661/year ($1,388/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 $106/month, which is the largest single expense at 11% of the total budget.
Is Springfield affordable for a retiree?
Yes, Springfield is 20% more affordable than the national average for a retiree.