TOLEDO, Ohio (WTVG) - Toledo ranks among the top five cities in the United States, when it comes to how far your retirement savings will go.
Personal finance website GOBankingRates examined the average costs for a 65-year-old for housing, utilities, groceries and healthcare in the 100 largest cities to calculate where a retiree can stretch their retirement savings the furthest. To put these costs in perspective, GoBankingRates took the approximate median nest egg retirees have saved — $150,000 — and subtracted one year's worth of costs in each of those cities to show how much of a hit their savings will take.
Retiree cost of living: $33,356.12
Nest egg left over: $116,643.88
2. Memphis, Tenn.
Retiree cost of living: $33,859.44
Nest egg left over: $116,140.56
3. Toledo, Ohio
Retiree cost of living: $35,094.85
Nest egg left over: $114,905.15
4. Cleveland, Ohio
Retiree cost of living: $36,055.73
Nest egg left over: $113,944.27
5. Fort Wayne, Ind.
Retiree cost of living: $37,153.87
Nest egg left over: $112,846.13
For the full results of the study, click the "Full study results" link on this page.