Retirement can be expensive. Once you’re no longer working, you’ll want to sit in the lap of luxury and let the world go by while you relax and unwind: but it can be pricey to do if you don’t want to break the bank or take out a dozen loans, where are the most affordable cities in the country, and why they matter.
Why Where you Retire Matters
Although you may think you don’t care where you retire, picking your destination carefully matters. Not only does your destination decide how much you can do and what sights there are to see, but it also gives you the opportunity to pick an area where family and loved ones will want to swoop in and visit you.
Picking carefully can give you the financial freedom to live your life in comfort: so think it through before grabbing what might be your final hometown.
Albany, Georgia
If you want affordable, snazzy, and music-centered, consider moving to Albany, Georgia! This smaller city in the south offers fantastic food, incredible culture, and a cost of living that’s far below the national average. This means you could buy a house or condo and live comfortably for the rest of your life. If you’re still planning your retirement, living here may allow you to retire ten to twenty years earlier.
Pensacola, Florida
Florida may sound cliche, but moving to Pensacola is a retirement dream. Although this is the priciest place on this list, it’s still generally affordable and gives retirees the chance to enjoy beachside views, warm summers, and wonderful communities as long as you’re here. You’ll connect with neighbors immediately and feel at home in no time.
Columbia, South Carolina
Columbia is a budgeter’s dream. Housing is usually around 40% cheaper than the national average, which means Columbia houses for sale give you the chance to live for far less money. You can pour this money back into your hobbies, which are plentiful in this gorgeous city. From swimming to gold, sports, and countless other fun things to do, you won’t want to leave Columbia once you arrive!
How to Ensure Your Money Goes Further
If you’re unsure about how far your money will stretch, it’s important to stop and do the math as soon as possible. The younger you are when you retire, the more you’ll need to have set aside so you can comfortably thrive for the rest of your life.
When retiring, renting is a far more cost-effective option, but buying a home allows you to create a nest egg for your family or loved ones once you pass. All property gains value over time, so being prepared can save your loved ones some financial stress.
Everyone Deserves a Great Retirement
Retirement is supposed to be the time of your life when you sit back and enjoy taking it slow, so the last thing you should be doing is worrying about the cost of living. Pick an affordable and wonderful city to retire in, and you’ll fall in love all over.
