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States Where You Can Live On Less Than $45,000 A Year

States Where You Can Live On Less Than $45,000 A Year

It is not unusual for Americans to relocate to a cheaper location after retirement as they lack enough retirement savings(according to GOBankingRates). The obvious choice of living for them is the one that they can easily afford without a regular source of income. To help you out, here’s a list of places you can relocate to live on less than $45,000 a year.

Living at less than $45,000

1.    Mississippi

Annual Cost of Living: $42,587

Mississippi is the cheapest place for retirees to live in making early retirement a possibility. Although the overall cost of living is below the national average, housing, in particular, is a big hit going as much as 33.3% below the national average.

2.    Oklahoma

Annual Cost of Living: $43,591

If you cannot go to Mississippi, another great choice for you is Oklahoma. It is one of the cheapest places for retirees to be in. Transportation costs are cheap in Oklahoma bringing the cost of living a lot lower than the national average.

3.    Arkansas

Annual Cost of Living: $44,693

Healthcare and transportation are third lowest in the country. So your retirement money is not going out of your pocket anytime soon if you decide to shift to Arkansas.

4.    Kansas

Annual Cost of Living: $44,143

If you want to receive bigger social security checks, Kansas might be the place you want to consider. Groceries and Housing lie on the affordable side as well, making it one of the possible considerations for retired people.

5.    Missouri

Annual Cost of Living: $44,646

Housing in Missouri is the fifth cheapest in all of America. Impressive, right? It is lower by over 25% than the national average. So, if you are looking to grab beautiful homes at lower prices, Missouri is definitely a place you should check out.

6.    Georgia

Annual Cost of Living: $44,897

If you are looking for an affordable living solution for yourself when you retire, Georgia can be your place of choice post-retirement.

7.    Alabama

Annual Cost of Living: $44,897

With the 7th cheapest healthcare in the country, the list would be incomplete if Alabama doesn’t feature in the list. The state has a lower than the national average cost of living, making it a perfect place for retirees.

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