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You’ll Never Be Able To Afford Retirement in These Cities — So Look Here Instead

GOBankingRates Logo By Joel Anderson of GOBankingRates | Slide 1 of 31: It's an unfortunate reality that some of the best places to retire and the most affordable places to retire don't have a ton of overlap. Frequently, the top locations on people's lists of potential cities to live out their golden years don't have a lot of crossover with America's most affordable cities, leaving plenty of people struggling with the decision between getting the retirement they want and having to make painful cuts to their lifestyle. See: Exactly How Much Savings You Need To Retire in Your State Places To Go: 50 Best (and Worst) Cities for an Early Retirement However, while your first choice might be prohibitively expensive, a new study from GOBankingRates has dug deep into the numbers to give you some much more affordable options when you're considering where to retire. Considering factors like the median listing price for a home, the average expenditures for someone 65 and older, crime rates, livability scores from AreaVibes and the weather by way of the Climate Index from Sperling's Best Places, the study has identified which of the country's cheapest places to live also offer a similar lifestyle to the pricier options that might spring to mind first. Brace Yourself: A Troubling Look at the State of Retirement in 2021 So, before you immediately assume that you'll need to work into your 70s to afford the retirement you want, you might find that these cheap places to retire have everything you want at a much lower price, giving you more financial flexibility and an easier time making ends meet on a fixed income. As you'll see, it doesn't necessarily take a lot to retire in a great city.  Last updated: June 14, 2021

It's an unfortunate reality that some of the best places to retire and the most affordable places to retire don't have a ton of overlap. Frequently, the top locations on people's lists of potential cities to live out their golden years don't have a lot of crossover with America's most affordable cities, leaving plenty of people struggling with the decision between getting the retirement they want and having to make painful cuts to their lifestyle.

See: Exactly How Much Savings You Need To Retire in Your State
Places To Go: 50 Best (and Worst) Cities for an Early Retirement

However, while your first choice might be prohibitively expensive, a new study from GOBankingRates has dug deep into the numbers to give you some much more affordable options when you're considering where to retire. Considering factors like the median listing price for a home, the average expenditures for someone 65 and older, crime rates, livability scores from AreaVibes and the weather by way of the Climate Index from Sperling's Best Places, the study has identified which of the country's cheapest places to live also offer a similar lifestyle to the pricier options that might spring to mind first.

Brace Yourself: A Troubling Look at the State of Retirement in 2021

So, before you immediately assume that you'll need to work into your 70s to afford the retirement you want, you might find that these cheap places to retire have everything you want at a much lower price, giving you more financial flexibility and an easier time making ends meet on a fixed income. As you'll see, it doesn't necessarily take a lot to retire in a great city.

Last updated: June 14, 2021

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