This Southern State Is the Most Affordable Place to Retire in the U.S.
Hoping to retire a few years early? You may want to consider moving to Mississippi.
Retirement is personal and depends on many aspects, such as how well you want to live in your
elder years, but you can get there sooner. Find areas to live where your retirement dollar goes further.
GoBankingRates calculated the average retirement income needed to live comfortably in all 50 states and DC.
According to the report, researchers examined “an individual’s spending on groceries, healthcare, housing, utilities, and
transportation” to reach this conclusion. To construct a “comfortable” budget, the team computed the annual retirement income needed to
meet these living expenses and added 20%. Social Security payouts, pension income, and savings account interest are not included.
Mississippi spent $44,059 annually. After adding the 20% “comfort buffer” of $11,015, the “cost of a comfortable retirement” was $55,074.
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