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Times are tough and Americans are looking for the cheapest states to retire in the United States. It’s therefore logical that you will be richer in a cheaper state, with your dollar stretching further.

In this article we help you find where is the cheapest and safest place to retire, and answer the question, “Which state has the lowest cost of living for retirees?”

At Nationwide Auto Transportation every single customer is valued, but they go the extra mile to help senior citizens ship their vehicle to the cheapest state to retire of their choice, whether permanently or as snowbirds…Call them today for a free car shipping quote!

cheapest states to retire

The Nationwide Guide to the Best Places to Retire in the USA

Are you ready for retirement? Since the panic of the pandemic has started to subside, Americans are taking more time to ask, “Where is the safest and least expensive place to retire?” Although you have prepared your whole life for retirement, how do you know that you are financially secure and self-sustainable?

If there is one thing that we can all be sure of, it is that everything is getting more expensive, and that includes going on retirement. Interest rates are hovering around all time high levels and the American dollar is not nearly as stretchable as it was five years ago, with little signs of improvement. So, what can you do to make sure that your retirement savings does not leave you in the lurch? 

When retirement is around the corner, how do you find the best places to live in the US? You can start by looking at what are the cheapest states to retire in 2022, because in today’s economic climate, moving to the cheapest place to retire in the United States might alleviate a lot of unnecessary retirement stress.

The American Association of Retired Persons (AARP) estimates that to retire comfortably, you need an income that is equal to approximately 80% of your annual income. With that in mind, read on as we look at which state is best for low income seniors, but first we highlight a few things that you should consider when you are getting closer to retirement age.

Financial Tips for 2022 – How to Protect Your Retirement

Did you know that most baby boomers don’t have any savings for their retirement, and that 40% will have to rely on Social Security for an income? That is why the search for the cheapest states to retire in has become a matter of urgency for many Americans who are reaching retirement age.

Retirement — How Can you Put Your Mind at Ease?

Besides looking for the best places to live in the US for senior citizens, it is prudent that you start saving for your retirement as soon as possible, if you haven’t already. It is also a good plan to look for ways to assure that you have more than one income stream during your retirement.

cheapest cities to retire in the united states

What other costs should you consider for your retirement?

  • Your healthcare and Medicare costs
  • Food and groceries
  • Emergencies
  • Entertainment
  • Grandchildren
  • Do you want to leave a monetary legacy?
  • Will you rent or will you be able to afford to buy?
  • What taxes do you pay? (state and federal)
  • What will your income be and where will it come from?
  • Where will the best places to live in the US be for you? Think about your friends and family. Do you consider moving to where the cheapest and warmest place is to retire, or do you want to stay close to your grandchildren?
  • Travel — You have extra free time, use it to travel and see the country. You can even fly to your destination, while your car gets shipped by a reputable auto carrier like Nationwide Auto Transportation.
    • Snowbirds follow the sun, and if they do not own homes in different states, they either rent a home for the winter or summer, or stay in an RV. Find out about Snowbird Car Shipping and how Nationwide Auto Transportation can assist snowbirds, and other senior citizens who need to ship their vehicles.

In the sections below we consider what makes a place ‘cheap’ to live, and we identify the 5 cheapest states to retire in. The article also peeks at factors that include the average price of a house, the cost of living index, and Medicare costs.

Why Move to Cheaper States to Retire?

Rising real estate prices, hiked up interest rates, and soaring gas prices make the cheapest states to retire on social security a desirable move for many Americans. However, how do you know what is the least expensive state to retire in?

In this guide Nationwide Auto Transportation helps to give you a clearer picture of where are the best (and cheapest) places to retire in the US.

Where are the Cheapest States to Retire in the United States?

It makes sense that before we discuss where the cheapest places to buy land and retire in the United States are, we give an explanation of the meaning of ‘cheapest’ in the question, “Where is the cheapest place to retire in the country?” 

cheapest places to retire

When it comes to retirement, cheapest refers to places where the cost of living is below the national average when you take into account:

  • Healthcare
  • Utility costs
  • Grocery prices
  • Transportation.

Any guesses on which state has the stretchiest dollar? If you take the National average as judged to be 100 — it means that anything below that is cheaper, and vice versa. Now, do you know how cheap, or expensive, your city is to live in? What are your average daily expenses, housing costs, rentals, or even transportation costs? With this in mind the list of the cheapest states to retire in, feature affordable housing, and lower living costs than their counterparts.

If you would like to see how the states compare, the Council for Community and Economic Research makes accurate and reliable comparisons on living costs between where you retire and live, and any other participating municipalities across the country. Right now Mississippi has bragging rights for where is the cheapest state to retire United States!

How can Retired Americans Fight Inflation?

Where is the safest, cheapest place to retire when you are trying your best to get away from the effects of inflation? This article highlights a few of our top choices, and you will see that the cost of living varies between states. This means that where you chose to retire could save, or cost, you a stack of bills.

Besides choosing the cheapest places to retire in Western United States, what else can a retired, or soon to be retired, person do to keep more of their hard earned money in these tough economic climates? Take a note of these three tips:

  1. Delay collecting social security – this in actuality buys you more Social Security income.
  1. Review your budget – cut out unnecessary costs and account for future budget increases;
    1. Save fuel spend by planning better and delaying vacations or unnecessary trips
    2. Look for ways to save when grocery shopping – coupons, etc.
  1. Do your best to have a balanced financial portfolio – Keeping a mix of cash, bonds, stocks and other financial assets will go a long way to a stable retirement fund.

The average American that is looking at retirement wants to get the most out of his life’s earnings, and with work not being of geographical importance after retirement, you can choose to live practically anywhere that suits your vibe… and budget of course!

NATIONWIDE Pro Tip:Nationwide Auto Transportation has a series of  “Moving to” articles, blog posts and guides that are extremely helpful when you want to look for the best places to live in the US, and the cheapest states to retire in the US. Get a FREE QUOTE while you are thinking about it too!

What Makes a Place the Best Place to Retire?

Have you thought about what you could, and would, do when it is time for you to hang up the gloves and switch the office lights off for the last time?

Suddenly a whole world of new opportunities are waiting for you, and all you need to do is decide where to go, and whether you can afford to live there? By relocating to some of the cheapest cities to retire in the United States, or a more sedate and affordable country setting, you could even save a bit on taxes and less expensive housing.

We all however have different ideas for retirement, and while some people want to stay near their kids and grandchildren, others are finally free to move to warmer climates and better amenities for their lives.

Here is a list of characteristics to expect from your prospective place of retirement:   

  • Age appropriate houses: Stay independent for longer by choosing a home with features that are elderly-friendly
  • Good public transportation for when driving becomes too difficult.
    • Many retired people still drive themselves for 20 or 30 years after retiring, and certain cities practically demand that you own a car. Nationwide Auto Transportation will safely and affordably transport your vehicle to your new state if you move. Get a FREE QUOTE from the automated auto shipping calculator system that computes your auto shipping costs by evaluating data from different vehicle types and models, as well as data from routes all across the country. Use your nearest city or metro area as locations.
  • Nearby health care because you do visit a doctor more in your old age
  • A good economy might mean extra income and will help your retirement fund last a bit longer
  • Your nest egg stretches further when you stay in one of the top 10 cheapest states to retire in
  • The southern states beckons to lovers of warmth and sun, but make sure you don’t miss the snow too much. 
  • Opportunities to socialize because you will have a lot more free time
  • Help with chores and maintenance when mobility issues start inhibiting your lifestyle
  • Children and grandchildren are important to many people and could be a deciding factor that makes you move
  • Amenities for seniors like golf courses, museums and other suitable activities are important
  • Crime – Unfortunately when looking for the absolute cheapest place to retire in the United States, this has to be on a checklist.

Imagine you could go on retirement today… Where would you want to live? Have you thought about what the best place to retire in the US would be for you? Read on to find our list of the 5 cheapest states for retirement in the country.

What are the Cheapest States to Retire in Right Now?

Where does Montana fall in cheapest states/places to retire? Unfortunately, although relatively kind to pensioners, the Cost of Living Index Report reads that it is not rated in the top 10 states to retire in the United States, but we have put together a short list of alternative cheapest states to retire in to help you choose the best state to retire in for you.

#Alabama

Is Alabama a good place for retirement? The answer is a resounding yes! To start off with, the Florida for budget conscious pensioners has a cost of living that is 13% below the national median. This retirement friendly state offers great weather, superb golfing opportunities and lots of water… with lower taxes, health care, and affordable living costs to boot.

Switching from the Atlantic Coast to The Gulf of Mexico could save you enough dollars to make the Yellowhammer State your retirement place of choice.

Why Retire in Alabama?

Why Retire in alabama

Alabama may tax some types of retirement income but there is:

  • No income tax on Social Security
  • Very low property taxes

Alabama—The Facts and Figures 

  • Population: 4.8 million
  • 15.3% of the residents are older than 65
  • The cost of living is 13% below US average
  • The average household income for over 65’s: $44,934
  • State Income Tax: 2% – 5%
  • State Sales Tax: 4%

How do you get your car home, safely and scratch-free, when you are Moving to Alabama? It all starts with a free quote from one of America’s most professional auto haulers who has routes that cover the 10 cheapest states to retire, and the ones that aren’t that cheap. Call Nationwide Auto Transportation today for peace of mind car shipping.

Read on to see the next peachy state in our search for the cheapest and safest city to retire in the United States.

What you need to know about moving to Alabama

#Georgia

If there is one state where nearly everything is just peachy for retirement, it is Georgia. Who can say no to near year-round great weather and southern hospitality, when it is packaged in a beautiful state, with low living costs?

Moving to one of the countless retirement communities in the state can be a really great choice when you retire and they are as charming as they are affordable. When you move to Georgia as a pensioner you can expect one of the ten best states for taxes and the 6th lowest healthcare costs in the nation.

Why Retire in Georgia?

When you mention retiring in Georgia, and the benefits of this move, there are a few stand out points:

When thinking about the benefits of retiring to Georgia there are a couple of things that instantly come to mind:

  • If you are +65, you can deduct $65,000 from your retirement income
  • Georgia exempts Social Security and Railroad Retirement from Income Tax
  • There is no inheritance and estate taxes
Why Retire in georgia

Georgia—The Facts and Figures 

  • Population: 10.1 million
  • 12.3% of the residents are older than 65
  • The cost of living is 7% below US average
  • The average household income for over 65’s: $50,607
  • State Income Tax: 1% to 6%
  • State Sales Tax: 4%

Although we are showing you a few alternate cheapest states to retire in, Florida as always stays supremely popular. Here is your 2022 Moving to Florida guide, if you fancy a bit of The Sunshine State… Now, who is ready to visit one of the 10 cheapest states to retire that is home to the Snake River and RV-load of National Parks?

What you need to know about moving to Georgia

#Idaho

When I get asked is Idaho a good place to retire to, I tend to think of all the outdoor activities that are available for outdoor lovers and active pensioners… but there is so much more to this gem for people that are reaching the retirement age.

The crystal clear lakes and majestic mountains decorate hundreds of square miles of northwestern wilderness and the fact that the cost of living is 5% lower than the US average, will see your retirement dollars last longer. 

Why Retire in Idaho?

Is Idaho tax friendly for retirees? Generally speaking yes, particularly if you will be relying mostly on Social Security (not taxed). Taxes, property and sales in particular, are also comparatively low.

  • Idaho exempts Social Security from Income Tax
  • Low property taxes
  • Low sales tax

Idaho—The Facts and Figures 

  • Population: 1.6 million
  • 14.3% of the residents are older than 65
  • The cost of living is 5% below US average
  • The average household income for over 65’s: $40,248
  • State Income Tax: 1.6% to 7.4%
  • State Sales Tax: 6%
Why Retire in idaho

Nationwide Auto Transportation are experts at shipping vehicles to and from Idaho, and as a popular snowbird destination, RVs are often seen in the Gem State. Read more about how to ship your recreational vehicle to Idaho, or nearly anywhere else in the United States.

Idaho is a boater’s paradise, and you don’t have to feel left out if your vessel is still in another state! Nationwide Auto Transportation will not only safely ship your car or RV, boats and other vessels are also part of their professional services. The next state we focus on has many great features for retirees, including being a boat-friendly state.

What you need to know about moving to Idaho?

#South Carolina

If you can see yourself living around outstanding classic golf courses, in close proximity to iconically beautiful beaches, and always surrounded by nature’s splendor, South Carolina should be on your list of cheapest states to retire in the United States. 

The Palmetto State, and its abundance of affordable retirement communities, becomes even more desirable for retirees when you take into account the low cost of living, below average property taxes, and open-handed retirement and fixed income exemptions.

Why Retire in South Carolina?

Although Sales Tax in South Carolina tends to be higher than in most other states, exemptions and tax rebates for retirees are good enough so that the state ranks high on the list of cheapest states to retire in the US. In short, South Carolina offers retirees:

  • No tax on Social Security
  • Fixed, and retirement income exemptions
  • Low property taxes
Why Retire in south carolina

South Carolina—The Facts and Figures 

  • Population: 4.8 million
  • 15.8% of the residents are older than 65
  • The cost of living is 7% below US average
  • The average household income for over 65’s: $43,340
  • State Income Tax: 3% to 7%
  • State Sales Tax: 6%

Before we conclude which state has the lowest cost of living for retirees, did you know that the cheapest state to retire for military personnel is Mississippi? It also happens to not only be one of the best places to stay in the US, it is also the cheapest place to retire in the country. 

Visit the Nationwide Auto Transportation website to learn how they assist military employees to move all over the country.

What you need to know about moving to South Carolina

#Mississippi

What makes the home of the blues the cheapest state to retire in? A cost of living index that is nearly 17% lower than the US average, combined with splendid property tax incentives, and low housing costs has seen this historic state take top spot in the race for cheapest states to retire in the US.

The Magnolia State lets you enjoy more flexibility for your retirement dollars, and has a literal plethora of activities to keep retirees (even ones on Social Security)busy during their golden years. So besides the all-round fantastic weather and world class Gulf Coast fishing, why else is the state #1?

Why Retire in Mississippi?

The answer is simple, why not? The state offers not only financial incentives and the lowest living costs in the United States, there is also:

  • All income from your pension is tax exempt, however retirees will pay income tax for work income 
  • No inheritance and estate taxes
  • Low property taxes

Mississippi—The Facts and Figures 

  • Population: 3 million
  • 16.35% of the residents are older than 65
  • The cost of living is 16.9% below US average
  • The average household income for over 65’s: $47,486.
  • State Income Tax: 4% to 5%
  • State Sales Tax: 7%

With arguably the best tax structure for pensioners in the country, The Magnolia estate is certainly worth considering as a retirement destination. Not only is it the cheapest state to retire in the United States, it also offers everything a retired person can think of, and more.

What you need to know about moving to Mississippi

Why Retire in Mississippi

Are you Ready to Move to the Cheapest State to Retire in The United States?

When the time comes to move to the cheapest states to retire in 2022, Nationwide Auto Transportation has got you covered when it comes to transporting your vehicle. The company has more than 16 years experience, and the knowledge needed to safely relocate vehicles from one state to another state.

Having your car, boat, or even RV with you when you retire in one of the best places to live in the US, gives retirees the freedom to choose how, and where, they will spend their golden years.

A friendly Nationwide consultant is waiting for your call. Let them move your vehicle to your new home… while you kickstart your retirement without any stress about auto transport.

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