Conventional financial wisdom tells us that one of the savviest ways to avoid wasting money in retirement is to live somewhere affordable. If you’re relying solely on Social Security, that means you have to make it work with $2,071 for an individual or $3,208 for a couple per month.
Ideally, you can combine affordability with desirability by selecting a town with local color, attractive amenities, and the services and resources you rely on. With no state income tax and a relatively mild climate, we’ve set our sights on Tennessee for this mission.
For retirees on a fixed budget, lower housing costs can leave more room for groceries, transportation, health care, recreation, and other everyday expenses. Tennessee also offers a range of lifestyles, from larger cities and college towns to mountain communities and quieter small towns…