Enjoying a carefree and happy retirement is what everyone dreams about. Having $1 million is the benchmark, but getting there isn’t easy, especially if you make the classic retirement savings errors. Even if you don’t have $1 million when you’re done working, you can still enjoy your golden years if you retire in the right location. Sticking to your budget is easy in these cities where you can retire for less than $1,000 per month.
GoBankingRates looked at how much retirees spend on housing, property taxes, utilities, groceries, and healthcare each month, and found the cities where they spend less than $1,000 per month.
We’ll spend a lot of time in one part of the country, especially when we get to the top 10, but we’ll break away twice (pages 12 and 13) before we reach the most affordable retirement city in the United States.
15. El Paso, Texas
Total monthly cost: $893.25
This city in western Texas is one of the most low-income cities in the United States, which is bad if you’re working but perfect if you’re retired. Its proximity to the Mexico border isn’t really an issue. El Paso has one of the lowest burglary rates in America and has one of the highest livability scores in the country from AreaVibes.
Next: Questions and answers about our next city.