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The Best Place in Illinois For A Couple To Live On Only Social Security

This article looks at the best place in Illinois for a couple to live on only Social Security. Check out our full list of 15 Best Places in Illinois For A Couple To Live On Only Social Security.

Managing on Social Security

Almost all workers in the US participate in Social Security by making payroll tax contributions. This means that nearly all older adults (97%) receive Social Security, or will be receiving it, in the future. While many retirees consider the checks they receive inadequate, the truth is that these benefits are much more modest than people realize. As per the Social Security Administration, the average check as of May 2024 was $1,778.24, with many retirees making much more than the average. According to the Center on Budget and Policy Priorities, these benefits replace about 39% of past earnings for an individual, although the replacement rate has fallen after the full retirement age for the program rose from 65 to 67.

As per international standards, the US ranks in the bottom third among major developed nations in terms of the percentage of average workers’ earnings replaced by the public pension system. The public pension program in an average OECD nation replaces over half of the earnings of an average worker, while the US replaces about 40%. The US Social Security Administration reveals that among beneficiaries over 65, these benefits represent 50% or more of income for 37% of men and 42% of men. For 12% of men and 15% of women, Social Security benefits account for more than 90% of their income.

On top of this- Social Security benefits are expected to deplete by 2035- one year later than previously anticipated. This is an alarming bell for the 12% of men and 15% of women who rely on it for more than 90% of their income. As per CNBC, Americans would need to double, or even triple their savings rate so that they can retire with a sufficient nest egg.

“The old-age poverty rate would soar if Social Security benefits were cut. Millions of seniors would be unable to afford basic needs, like food, shelter, and health care. Many seniors would have to turn to their children for financial help”.

-Richard Johnson, a senior fellow at the Urban Institute.

According to Prudential Financial, Inc. (NYSE: PRU), 55-year-old Americans are particularly underprepared for retirement. This generation has median retirement savings of less than $50,000, a figure that is significantly short of the ideal number Americans need for a comfortable retirement.

Prudential Financial, Inc. (NYSE:PRU) is an American Fortune Global 500 and Fortune 500 company. Its subsidiaries offer insurance, retirement planning, investment management, and other products and services to retail and institutional customers throughout the United States and in over 40 other countries. The company reported its second-quarter results on August 1, 2024, noting positive momentum across its businesses driven by robust sales, strong investment performance, and capital deployment in private alternatives in PGIM. Its adjusted operating income for Q2 2024 is $1.07 billion, compared to $956 million in the year-ago quarter. PGIM, the global investment management business for Prudential Financial, Inc. (NYSE:PRU), reports an adjusted operating income of $206 million in the quarter backed by higher asset management fees. This is up from $179 million a year ago.

Coming back to the question of living on Social Security, many potential retirees are now exploring affordable options within the US where they can live easily on their SS checks. One such state to live on Social Security is Illinois. The state of Illinois is one of the many states that don’t tax social security, is a tax-friendly state, with an affordable cost of living. For those wondering where to live in the state to stretch their checks the most, read on to uncover which parts of Illinois are best to live in on Social Security.

Methodology

To compile the list of best places in Illinois for a couple to live on only Social Security, we began by listing out cities and towns in Illinois and ranking them based on their cost of living, average rents, and livability scores. We assigned double weightage to the cost of living and rent for choosing the most affordable options in the state to live on Social Security. Places were scored and ranked in ascending order from the lowest to the highest scores. Rental data was sourced from Zillow, Zumper, and Apartments.com, while livability scores were obtained from Area Vibes.

Here is the best place in Illinois for a couple to live on only Social Security:

1. Galesburg

Insider Monkey Score: 40

IM Cost of Living: 76.4

Livability Score: 71

Average Monthly Rent (2-bedroom): $720

Based on our methodology, the best place in Illinois for a couple to live on only Social Security is Galesburg. Galesburg is best known for its small-town feel and affordable living costs, making it a top choice for seniors. The cost of living here is 23.6% lower than the national average, and monthly rents are also quite affordable. From independent shops to local dining options and a lively music scene, this city is just as entertaining and resourceful as it is affordable. The cultural scene is also very vibrant, while the presence of Knox College offers opportunities for social and intellectual engagement.

Check out our full list of 15 Best Places in Illinois For A Couple To Live On Only Social Security.

At Insider Monkey, we delve into a variety of topics, ranging from the best places to retire to the best MBA programs; however, our expertise lies in identifying the top-performing stocks. Currently, Artificial Intelligence (AI) technology stands out as one of the most promising fields. If you are looking for an AI stock that is more promising than NVDA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: Analyst Sees a New $25 Billion “Opportunity” for NVIDIA and Jim Cramer is Recommending These 10 Stocks in June.

Disclosure: None. This article is originally published on Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

A few years from now, you’ll wish you’d owned this stock.

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AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

AI is eating the world—and the machines behind it are ravenous.

Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy. In fact, AI is already pushing global power grids to the brink.

Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and building the digital future. But there’s one urgent question few are asking:

Where will all of that energy come from?

AI is the most electricity-hungry technology ever invented. Each data center powering large language models like ChatGPT consumes as much energy as a small city. And it’s about to get worse.

Even Sam Altman, the founder of OpenAI, issued a stark warning:

“The future of AI depends on an energy breakthrough.”

Elon Musk was even more blunt:

“AI will run out of electricity by next year.”

As the world chases faster, smarter machines, a hidden crisis is emerging behind the scenes. Power grids are strained. Electricity prices are rising. Utilities are scrambling to expand capacity.

And that’s where the real opportunity lies…

One little-known company—almost entirely overlooked by most AI investors—could be the ultimate backdoor play. It’s not a chipmaker. It’s not a cloud platform. But it might be the most important AI stock in the US owns critical energy infrastructure assets positioned to feed the coming AI energy spike.

As demand from AI data centers explodes, this company is gearing up to profit from the most valuable commodity in the digital age: electricity.

The “Toll Booth” Operator of the AI Energy Boom

  • It owns critical nuclear energy infrastructure assets, positioning it at the heart of America’s next-generation power strategy.
  • It’s one of the only global companies capable of executing large-scale, complex EPC (engineering, procurement, and construction) projects across oil, gas, renewable fuels, and industrial infrastructure.
  • It plays a pivotal role in U.S. LNG exportation—a sector about to explode under President Trump’s renewed “America First” energy doctrine.

Trump has made it clear: Europe and U.S. allies must buy American LNG.

And our company sits in the toll booth—collecting fees on every drop exported.

But that’s not all…

As Trump’s proposed tariffs push American manufacturers to bring their operations back home, this company will be first in line to rebuild, retrofit, and reengineer those facilities.

AI. Energy. Tariffs. Onshoring. This One Company Ties It All Together.

While the world is distracted by flashy AI tickers, a few smart investors are quietly scooping up shares of the one company powering it all from behind the scenes.

AI needs energy. Energy needs infrastructure.

And infrastructure needs a builder with experience, scale, and execution.

This company has its finger in every pie—and Wall Street is just starting to notice.

Wall Street is noticing this company also because it is quietly riding all of these tailwinds—without the sky-high valuation.

While most energy and utility firms are buried under mountains of debt and coughing up hefty interest payments just to appease bondholders…

This company is completely debt-free.

In fact, it’s sitting on a war chest of cash—equal to nearly one-third of its entire market cap.

It also owns a huge equity stake in another red-hot AI play, giving investors indirect exposure to multiple AI growth engines without paying a premium.

And here’s what the smart money has started whispering…

The Hedge Fund Secret That’s Starting to Leak Out

This stock is so off-the-radar, so absurdly undervalued, that some of the most secretive hedge fund managers in the world have begun pitching it at closed-door investment summits.

They’re sharing it quietly, away from the cameras, to rooms full of ultra-wealthy clients.

Why? Because excluding cash and investments, this company is trading at less than 7 times earnings.

And that’s for a business tied to:

  • The AI infrastructure supercycle
  • The onshoring boom driven by Trump-era tariffs
  • A surge in U.S. LNG exports
  • And a unique footprint in nuclear energy—the future of clean, reliable power

You simply won’t find another AI and energy stock this cheap… with this much upside.

This isn’t a hype stock. It’s not riding on hope.

It’s delivering real cash flows, owns critical infrastructure, and holds stakes in other major growth stories.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

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Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

1. Head over to our website and subscribe to our Premium Readership Newsletter for just $9.99.

2. Enjoy a month of ad-free browsing, exclusive access to our in-depth report on the Trump tariff and nuclear energy company as well as the revolutionary AI-robotics company, and the upcoming issues of our Premium Readership Newsletter.

3. Sit back, relax, and know that you’re backed by our ironclad 30-day money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!


No worries about auto-renewals! Our 30-Day Money-Back Guarantee applies whether you’re joining us for the first time or renewing your subscription a month later!