So maybe you didn’t save as much as you intended for retirement. Or maybe you’ve just decided to simplify your life in retirement and eliminate all the nonessentials.
Where you retire will make an immense difference in how much you have available to spend. Will you drop a major portion of your fixed retirement income on taxes, a high cost of living or some other expense in your retirement home, or will you be able to get by thriftily on Social Security and your pension or other annuity?
The answer could lie in TheStreet.com’s list of the best states in which to retire if you’re determined (or obligated) to live on a fixed income.
According to the report, there’s a major disconnect in the U.S. retirement market, and it’s dividing the country by dollar signs.
Sadly, some of the states at the bottom of the list for financial reasons—high taxes, high cost of living, etc.—offer some of the great cultural or geographic assets in the country, like New York and California, but you won’t find them on this list.
Instead, you’ll find states with their own attractions that manage to offer a cheaper way to live.
Here are the 11 states TheStreet.com says offer the best financial advantages for retirees on a fixed income. They’re in reverse alphabetical order, as TheStreet.com presented them, so you get to pick your own “best.”