As you prepare to retire or relocate, one crucial factor many Americans let slip is affordability. While the idea of a worry-free retirement is enviable, it isn’t realistic. Some states make retiring easier — and more affordable — while others are tougher on your budget and lifestyle.
This analysis of popular locations provides insight into which states are tougher to retire in, which are expensive to live in general (page 7) and the worst state to live in that will definitely surprise you (page 15).
15. South Carolina
- $34,000 annual cost for assisted living
- $77,000 annual cost for nursing home
The warm, summery state is a popular destination for retired couples, singles, and even families. However, when it comes to the cost of care for seniors, it rates around average.
The average cost for one person to seek assisted living is $34,000, while nursing home costs more than double that figure. Hiring a home health aide may be the best bet for senior citizens who need extra help — on average, an aide costs $45,000 annually.
Next: This state is fairly affordable and fun for retirees.