In order to determine what it costs to retire in every state, 24/7 Wall St. reviewed annual expenses at the state level as determined by the Bureau of Labor Statistics’ 2017 Consumer Expenditure Survey. We then reviewed data from the Economic Policy Institute’s Family Budget Calculator for a couple 65 or older with no dependents, which measures the income a family needs in order to attain a modest yet adequate standard of living at the metropolitan level. Using the Consumer Expenditure Survey’s differences in budgetary needs between the average American and residents 65 and over, 24/7 Wall St. calculated the average annual retirement costs by state.

Cost of living is figured as an index, with 100 being the national average by definition. Our data comes from the U.S. Bureau of Labor Statistics and  We look for places with indexes no higher than 110. On this list, 12 are below 100, meaning they are cheaper places to live than the national average. The cheapest is Savannah (88), followed by Athens (93) and Pittsburgh (94). The most expensive is Delray Beach (110), followed by Sarasota, Fla. (109) and Winchester (108).

These days, you can start a small home business without a large amount of capital. Whether it’s buying and selling collectibles on eBay or teaching classes in yoga, many people have turned a profit from home. Among other factors, the industry in which you choose to start a business impacts the likelihood that your business will be successful. According to a report by Statistics Brain, only 37 percent of new IT companies were still in operation after four years compared to 47 percent of retail startups and 58 percent of finance, insurance, and real estate businesses that reached the four-year mark.
Even for the we’ll-do-it-our-way Baby Boom generation, retirement usually involves two big life changes: less income and more freedom (to live where you want and do what you please). That’s why so many folks at least consider moving in retirement, even if they ultimately end up staying put. And it’s also why Forbes’ list of The Best Places To Retire in 2019 focuses on places that offer both affordability and a high quality of life.

Jen Henson was a teacher in Ohio when she was approached by her principal to tutor an athlete preparing for ACT testing. He had a full-ride offer from a college but need the test scores to gain admission and seal the deal. Jen successfully prepped this student, and he is in the NFL today! After hearing about these results, other coaches began approaching her.
The couple moved to Colorado Springs after Ted retired as an accountant and loved the area. Instead of going on expensive vacations, they've decided to make sure they have good transportation to travel around the state. They both love the outdoors and would rather spend a day photographing nature, hiking, fishing, swimming, etc. As a result, vacations should only cost gas, travel supplies, and Ted taking time off from work. Luckily, most of the places they love to visit are within a two-hour drive, so Ted doesn't have to take a lot of time off work, if any.
Ted had a great job for 30 years as an accountant. However, the stress of working 50-hour weeks has caught up to him. He has decided to take a relaxing job and drive a shuttle for a hospital at $15 an hour. He enjoys driving around and conversing with all the hospital staff and really enjoys his job. Ted plans to only work 20 hours a week to stay below the earnings threshold for reducedSocial Security payments. You can read more about that here.
Do you specialize in a particular academic category, like math, science or writing? Put that knowledge to work as an at-home (or online) tutor. The best path is to be certified by the National Tutoring Association. Once you do that, you can take training sessions, search jobs, and swap tips and educational strategies with other professional tutors. Good tutors can earn between $25 and $50 per hour.