Dave Rice 5:03 p.m., Aug. 1
Three-fourths of affluent to retire in San Diego
Those planning to move seek lower cost of living
According to a survey of 200 San Diegans by discount brokerage Charles Schwab & Co., 73% of the so-called affluent plan to retire in the county, while 24% plan to move -- almost half to achieve lower living costs. For the survey, "affluent" is defined as having at least $250,000 in investable assets and retirement funds. (I'm not sure that sum qualifies one as affluent, but nobody asked me.) More than half of those planning retirement say that their primary concern is unexpected expenses, such as medical or healthcare costs. Those polled say they will need an average $67,000 in annual income, down from their current income of $120,000.