Salary Needed to Live in Plano as a Retiree
A retired individual (65+) needs approximately $21,874/year to live comfortably in Plano, TX — including 5% savings.
Comfortable Salary
$21,874
with 5% savings
Bare Minimum
$20,416
no savings buffer
Monthly Expenses
$1,276
5% above national avg
Detailed Monthly Budget for a Retiree in Plano
| Expense | Plano | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $147 | $121 | +21% |
| 🛒 Groceries | $21 | $16 | +31% |
| ⚡ Utilities | $13 | $15 | -13% |
| 🚗 Transportation | $20 | $18 | +11% |
| 🛡️ Car Insurance | $173 | $223 | -22% |
| 🏥 Health Insurance | $55 | $56 | -2% |
| Medicare Supplement | $220 | $200 | +10% |
| Prescription Drugs | $165 | $150 | +10% |
| Internet + Phone | $132 | $120 | +10% |
| Recreation & Social | $220 | $200 | +10% |
| Home Maintenance | $110 | $100 | +10% |
| Total Monthly | $1,276 | $1,219 | +5% |
How We Calculated the Salary
Monthly expenses:$1,276
Target savings (5%):$72/mo
Monthly after-tax needed:$1,348
Effective tax rate:25%
Gross annual salary needed:$21,874
Other Household Types in Plano
Related Pages
FAQ
What salary does a retiree need in Plano?
A retiree needs approximately $21,874/year ($1,823/month gross) to live comfortably in Plano with a 5% savings rate.
How much is rent for a retiree in Plano?
A 1-2br senior-friendly in Plano costs approximately $147/month, which is the largest single expense at 12% of the total budget.
Is Plano affordable for a retiree?
Plano is roughly average for retiree costs, requiring a salary close to the national median.