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The most affordable places to retire in the US in 2023

Most people dream of the day they can drop the grind of the 9-to-5 and have time for other activities. However, where one lives can make savings go further.

The most affordable places to retire in the US in 2023

When planning out retirement, there is the matter of saving up enough money to keep enjoying the lifestyle to which you’ve become accustomed. For some though, moving to a new locale, can not only give them the opportunity to do activities that they couldn’t in their previous abode, but also make those hard-earned savings go a bit further. Some choose to go abroad while others stay stateside.

However, choosing the right location is not always easy. There are not only the monetary factors but the quality of life that one will enjoy in their new place of residence as well as being sure that their health care needs are properly met. Here’s a look at the most affordable places in the United States to retire in 2023.

The most affordable places to retire in the US in 2023

While one may want to be out in the wildernesses or enjoy beautiful beaches, maybe be close to where everything happens, some of those locations won’t be the most affordable. That is the case with Maryland, Massachusetts, New Jersey, New York and Vermont. These are the states that come bottom of the list of affordability according to WalletHub.

With the exception of Massachusetts, they all come in the bottom 25 of states overall for the best places to retire in 2023. Massachusetts, which ranks 17 overall, while less affordable does rank top of the charts for quality of life and second for health care.

The top five states where your money will go further are Alabama, South Carolina, Tennessee, West Virginia and Wyoming. While Wyoming ranks in the top ten for quality of life, the other four are at the tail end of the list, it and the others are laggards with respect to health care when compared to the other states.