Have you been wondering which are the cheapest states to relocate to during retirement?
Thinking about relocating for your golden years is on many people’s minds, but a lot of us are thinking it will not be the cheapest or wisest move to make! Yet, you should not be worrying too much about it, because depending on which state you choose, the cost of living will be way lower than in other places. So even if the move itself is not going to be the easiest, the cheaper way of living is going to make up for all that stress.
Let’s be candid for a moment. With the state of the world, there is no way to predict when the cost of living will go up, when inflation is going to hit, or even if we are heading toward a recession. So if you are a retiree or you are going to retire in the next few years, you should be located in a state where these changes will not affect your finances too much. It does not mean that you are cheap, but that you are money conscious and want to live as comfortably as possible without having to worry about your egg nest depleting.
To aid you in your quest, we have gathered some of the best states that you can consider for your next forever home. They rate highly when we are looking at the median cost of living index, and they have some of the lowest property costs (if you wish to buy) and some of the cheapest and most affordable rates when it comes to healthcare and Medicare rates!
Let us know which one of these states caught your eye and why in the comments!