3 Places To Retire That Are Just Like Massachusetts but Way Cheaper
Written by
Chris Adam
Edited by
T. Woods
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Perhaps, in your retirement planning, you’ve thought about moving to a New England state like Massachusetts. The region is known for offering a good quality of life for retirees — including good healthcare and plenty of things to do.
However, Massachusetts may be out of the budget range for many retirees. In fact, according to MoneyTalksNews and WalletHub, “it also has nearly the highest adjusted cost of living” in the country.
So, if you’re looking for a similar place to retire, but without the higher cost of living, here are some other states to consider:
1. West Virginia
Have you heard about the affordability of West Virginia for retirees? According to Lending Tree, it’s the most affordable state to retire in.
Not only may you find some of the great quality of life aspects of Massachusetts in West Virginia, but you’ll do it for a lot less. A retiree in West Virginia is likely to spend about $2,782 per month or $33,388 per year. That’s far less than the most expensive states where it’s closer to over $50,000 per year.
2. Pennsylvania
The Keystone State may be a good destination with a quality of life similar to Massachusetts, but with a more affordable price tag. In fact, the annual cost of retirement is about $41,000.
You’ll also find plenty to do in the state. According to PODS, “Aside from its lively culture and historical roots, Pennsylvania also offers a number of benefits for retirees, in particular, including a lack of taxes on retirement income and access to quality healthcare.”
3. Vermont
If you want to stick with New England, but want a cheaper place than Massachusetts, check out Vermont. It’s been ranked among the best states for retirement in the United States — thanks to lower costs and higher quality of life for seniors. The annual cost of retirement in Vermont is about $43,000.
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