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Our family of 4 shares a 900-square-foot apartment. The benefits outweigh the negatives.

15 July 2025 at 21:22
Dani Smith poses in front of a brick wall while wearing a reddish-pink sweater.
The author expected to raise her family in the suburbs, but has found that living in an apartment has its own perks.

Courtesy of Dani Smith.

  • I thought I would be raising my kids in a suburban house with a backyard.
  • Instead, our family of four lives in a one-bedroom apartment with a study in an urban area.
  • Living in an apartment was hard when our kids were babies, but now it's working for us.

I never imagined I would be raising my kids in a 900-square-foot apartment.

My husband and I had planned to move to a house in the suburbs just before our first baby was born. But then the pandemic struck, and real estate prices went up. Five years later, we still live in the same apartment, and now there are four of us.

For a while, I felt inadequate about our living situation because we didn't live in a house with a backyard for our kids to run around and play in. Now I've realized that there are benefits to living in an urban apartment for our family, especially once the baby phase was behind us.

Living in an apartment was hard when our kids were babies

There were things I really didn't like about living in an apartment when my kids were babies.

For starters, it was hard to find room for all of the baby stuff. Some baby items just wouldn't fit neatly anywhere, such as the double stroller and the travel crib.

A modest living room with a colorful rug, a gray couch, and baskets containing toys.
Finding room for all of the baby stuff you need in a small space was hard, but as the kids have grown, apartment living has become easier.

Courtesy of Dani Smith.

It also seemed like the noises were amplified in our apartment, so our babies' cries felt louder than they really were. I was constantly worried that we were disturbing our neighbors' sleep.

With only one bedroom and a study, I felt frustrated because I couldn't take a proper break from the demands of motherhood unless I left the apartment.

We socialize with other families who live in apartments

That push to get out of the apartment for more space hasn't been all bad, though. It has led to more socializing with other families who live in our neighborhood.

Our family spends a lot of time at the local parks, playgrounds, and playgroups. In doing so, we've connected with many other families, who have become our broader support network.

Meeting other families who live in apartments has also helped to normalize our own living situation. It shows me that there's nothing wrong with raising kids in an apartment.

An urban apartment suits our young family

With nearly everything we need at our doorstep, walking everywhere keeps us active and allows us to live an almost car-free lifestyle. We hardly ever have to wrestle our kids into car seats, worry about parking a car, or fill up the gas tank.

When we don't even want to leave ourΒ apartment building, we use the shared communal space, which is equipped with a landscaped garden and grassy lawnβ€”kind of like having a backyard.

We work together to keep our apartment organized and functional, and try to limit how much stuff we own. We gift each other experiences and prefer to borrow toys and books instead of buying them.

The smaller space strengthens our family's bond and fosters many shared experiences with each other. We intentionally gather together to do things as a family, yet we also feel comfortable doing independent activities side-by-side.

While things didn't turn out quite as I had expected, I think we're making the most of our living situation.

Read the original article on Business Insider

These 10 states give retirees the best value for their savings

17 May 2025 at 10:30
retirees sitting lake

Sean Gallup / Getty Images

  • Running out of money in retirement is a big concern for many Americans.
  • Economic uncertainty is making it even harder to afford retirement.
  • These are the top states where your retirement nest egg will go the furthest.

As people live longer and spend more time in retirement, it's more important now than ever to plan for life after your job.

To make matters even more complicated, the ongoing trade war has created a tricky economic backdrop for older Americans to retire in, causing people to delay their retirements, wait to collect Social Security, or "unretire" and go back to work.

That's why being smart about where you live in your golden years can have far-reaching consequences, as housing costs β€” whether it be a mortgage, property taxes, or rent expenses β€” are typically the largest part of your monthly expenses.

Financial technology company Remitly compiled data on Americans' retirement savings across the country. How much you need in retirement varies, but the rule of thumb is that by the time you retire, you should aim to have around 10 times your salary saved. Remitly found that Americans between the ages of 55 and 64 have typically saved an average of $537,650 and a median of $185,000 β€” meaning there's high variability in the amounts that people have saved.

When calculating how much money you need for a comfortable retirement, take into consideration annual expenditures such as housing, utilities, transportation, and healthcare β€” and also factor in an additional 20% buffer for unexpected costs.

Depending on the state you retire in, the cost of living could fluctuate wildly. Remitly looked at the average retirement savings and expected annual expenditures for a comfortable retirement for each state to calculate how long a retirement nest egg lasts in different parts of the country.

While the annual expenditure to retire comfortably in many states hovered in the $60,000 to $80,000 range, a few states took the cake for sky-high costs of living. In Hawaii, Remitly found the average annual expenditure to be $129,296. California was the second-most expensive state, with annual retirement expenditures coming out to $100,687. In those states, retirement savings will only last 2.8 and 4.5 years, respectively.

On the other hand, Kansas takes first place for sustainable living costs in retirement β€” retirement savings last 7.5 years on average there.

Listed below are the top ten states where retirees can get the most bang for their buck. The average amount of savings at the time of retirement, the annual retirement expenditures, and number of years the retirement savings will last are also included.

Kansas
A residential neighborhood near Topeka, Kansas's downtown.
A residential neighborhood near downtown Topeka.

MattGush

Average retirement savings: $452,703
Annual expenditures: $60,620
Years of comfortable retirement: 7.5 years

Iowa
des moines iowa

Monte Goodyk/Getty Images

Average retirement savings: $465,127
Annual expenditures: $62,565
Years of comfortable retirement: 7.4 years

Minnesota
Downtown Minneapolis skyline at dusk with US Bank Stadium in view.
Minnesota received a top-five ranking for work environment.

Sean Pavone/Shutterstock

Average retirement savings: $470,549
Annual expenditures: $65,828
Years of comfortable retirement: 7.1 years

Virginia
Townhomes in Leesburg, Virginia.
Leesburg, Virginia.

Gerville/Getty Images

Average retirement savings: $492,965
Annual expenditures: $70,342
Years of comfortable retirement: 7 years

Pennsylvania
harrisburg pennsylvania

Shutterstock/Jon Bilous

Average retirement savings: $462,075
Annual expenditures: $66,384
Years of comfortable retirement: 7 years

Illinois
ariel photo of chicago skyline

halbergman/Getty Images

Average retirement savings: $449,983
Annual expenditures: $64,787
Years of comfortable retirement: 6.9 years

Connecticut
The skyline of downtown Hartford, Connecticut.
The skyline of downtown Hartford, Connecticut.

Pat Eaton-Robb / AP

Average retirement savings: $545,754
Annual expenditures: $78,605
Years of comfortable retirement: 6.9 years

South Dakota
Aerial view of Custer, South Dakota
Custer, South Dakota

Jacob Boomsma/Shutterstock

Average retirement savings: $449,628
Annual expenditures: $64,856
Years of comfortable retirement: 6.9 years

Michigan
lansing michigan

Henryk Sadura/Shutterstock

Average retirement savings: $439,568
Annual expenditures: $63,745
Years of comfortable retirement: 6.9 years

Kentucky
The riverfront of Frankfort, Kentucky with brick factories and family homes.
Frankfort, Kentucky

DenisTangneyJr/Getty Images

Average retirement savings: $441,757
Annual expenditures: $64,301
Years of comfortable retirement: 6.9 years

Read the original article on Business Insider

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