There was an error in this problem, and some said it was an Xcode bug with beta 6.1, but I had version 6.1 of alreadt. I will even try beta 6.2, hoping Apple has a fix for this, but no luck, anyway.
So desperate that I decided to upgrade my 3-year-old MacBook Pro RAM and SSD hard drive. Problem solved with update! Now iOS Simulator is working fine.
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