The last thing anyone wants in retirement is to see their hard-earned savings eaten away by everyday expenses. However, you can spend less and save more if you simply avoid places with high costs of living.
If you want to live somewhere where you can retire comfortably, look primarily to the Midwest and the South. In a recent study, GOBankingRates crunched the numbers in all 50 states to determine the cities where you can retire for less than $50,000 a year.
The study analyzed the overall cost-of-living index as well as other cost-of-living factors — such as groceries, housing, utilities, transportation and healthcare — then multiplied these indices by the average annual expenditures of an American aged 65 and older. Of the 10 least expensive cities for retirees, seven reside in the Midwest, with the remaining three cities located in the South.
Click through to see the places that will cost you $50,000 or less in retirement!
