Retirement can be expensive and saving a challenge – but moving to a more affordable area could help you stretch your resources much further.
GOBankingRates put together a list of the best places to retire based on affordability, access to necessities, amenities and cultural attractions. Incidentally, the study found that all of those items are usually located within college towns, making them ideal places to settle down once you have stopped working.
Here’s a look at the top choices:
Home to the University of Indiana, the state also has a friendly tax climate, according to GOBankingRates.
Home prices are very affordable in Arkansas, with a median value of $121,000. The University of Arkansas is also located in Fayetteville – in the northwest part of the state.
For basketball fans, Lexington, Kentucky, could be an ideal place to retire – the University of Kentucky program is one of the best in the country.
According to GOBankingRates, average rent in the city is also below $1,000 per month.
For nature lovers, Bozeman, Montana, could be an ideal retirement location. It is close to Yellowstone National Park and Glacier National Park. Montana State University – considered a top-tier research institution – is also nearby.
Tuscaloosa is home to the University of Alabama – where there is a lot of school spirit regarding the school’s football team, the Crimson Tide. The town is also among the country’s most affordable.
Mississippi has the lowest cost of living in the entire country, according to GOBankingRates. And Oxford, where students attend the University of Mississippi, has been called the “cultural mecca of the south.” It has everything from museums to monuments and historic properties.
Also on the list?
San Marcos, Texas
Iowa City, Iowa
East Lansing, Michigan