Although California is known for its high cost of living, it’s not the most expensive state to retire, according to a recent Bankrate study.
As you age, you may become more reliant on health-care services. Relocating to a city or town with lower health-care costs after you retire could help you save money, Kerry Hannon, retirement expert and author of"In Control at 50+: How to Succeed in the New World of Work," tells Bankrate.
Keep other factors in mind as well, such as whether you want to live close to family members and which kinds of activities you would like to be able to access. "It's a new adventure, and you should really take the time to do the prep work financially and personally so that you make smart decisions," Hannon says in Bankrate's report.Sign up for our new newsletter!, which distills the billionaire's No. 1 best piece of advice for regular investors, do's and don'ts, and three key investing principles into a clear and simple guidebook.
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