Alabama
How much you need to retire: $1,011,640
The state of Alabama makes up for its relatively high $3,968 annual utilities bill with a comparatively cheap annual $5,019 healthcare cost — the lowest in the country. The real difference maker, however, is the state’s $11,460 cost of housing, which is the third-cheapest in the United States. When all is said and done, retiree residents can expect to spend $40,466 a year.
Move to Birmingham: The Cheapest Place to Retire Is in Alabama
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