E70 Retiring in Vero Beach, Florida

You retire with limited income and savings and don’t wish to live overseas, what do you do? Consider “senior housing?” Joan and Steven Reid moved from a small apartment in the affluent community of Pearl River, New York, to a senior housing complex in Vero Beach, Florida. In this community, the Reids pay under $900 a month for a very nice 2 bedroom apartment with a pool in the complex. The catch - to qualify for their unit - is that they have to be 62 years or older, have limited assets but enough in income or assets to afford the rent. Find out more about the Reids’ road to affordable living in Vero Beach, Florida on Episode 70 of Retire There with Gil & Gene.

Joan B. Reid’s book is Joyful Passage: A Woman’s Path to Retirement.

The Reids were the subject of two articles in NextAvenue.org:

1. Retiring on a Shoestring: How one couple is doing it, and what financial advisers suggest; and 
2. Retiring on a Shoestring: How it’s Going 2 Years Later.