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 that among retirees who move, 60% according to a Vanguard survey, do so to live somewhere less expensive.
To that end, we identified which of the 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.
