10 States Where Retirees Can Live on Less
Did you know that the location where you spend your later years can have a huge impact on how long your retirement savings last?
Retirees have only a finite amount of income, with their money generally coming from a combination of Social Security and savings. Since Social Security benefits don't provide enough money to live on, withdrawals from retirement accounts are necessary to supplement it. And there's only so much money you can take out before your account runs dry.
If you have a fat retirement nest egg, you may not need to worry about spending all your money in your lifetime. But if your savings balance is a little smaller than you'd like, residing in an area with a high cost of living could mean you spend it too soon and are left with too little.
Source Fool.com
