When you’re trying to balance a fixed income with an enjoyable retirement, cost of living is a crucial factor to consider. After all, if your daily expenses eat up too much of your budget, you won’t be left with much extra for anything fun, to leave an inheritance for your loved ones or even just as a cushion to give you peace of mind. No wonder 67% of people say they’d move to a less expensive location to have a more financially comfortable retirement, according to a survey by Merrill Lynch and Age Wave, a research firm focused on the aging population.
To that end, this article identifies which of Kiplinger’s 50 Best Places to Retire in the U.S. offer below-average living costs for retirees. On top of affordability, all of these places rank well with us, taking into account safety, median incomes and poverty rates for retirement-age residents, as well as residents’ sense of well-being and the availability of recreational and health care facilities. And these affordable places to retire are scattered across the nation, offering diverse options from mountains and beaches to small towns and college towns. Take a look at the list.