Least Expensive Metros to Retire
1. Johnstown, PA: As mentioned previously, the Lending Tree study found you can retire with an average lifestyle for less than $800,000 in just one metro, and that’s Johnstown, Pa. The Pennsylvania metro slides just under that mark at $779,765, with an average annual spend of $46,347.
2. Cumberland, MD: A nest egg of $802,988 is needed with an average annual spend of $48,436.
3. Danville, IL: A nest egg of $804,301 is needed with an average annual spend of $46,622.
4. Florence, AL: A nest egg of $812,485 is needed with an average annual spend of $61,346.
5. Duluth, MN: A nest egg of $821,084 is needed with an average annual spend of $48,711.
6. Rocky Mount, NC: A nest egg of $823,276 is needed with an average annual spend of $46,622.
7. Jackson, TN: A nest egg of $823,889 is needed with an average annual spend of $46,237.
8. Carbondale, IL: A nest egg of $829,454 is needed with an average annual spend of $47,447.
9. Albany, GA: A nest egg of $842,164 is needed with an average annual spend of $46,512.
10: Niles, MI: A nest egg of $842,481 is needed with an average annual spend of $48,162.
To see the complete rankings for all 384 metros, see the full study findings.
SEE ALSO:
• 10 Best and Worst States to Retire 2023: WalletHub
• 11 Best Places to Retire in the World in 2023: International Living
• Nearly Half of Pre-Retirees Believe Retirement Income Will Not Cover Basic Expenses
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
