The Five Best Cities for Retirees With No Savings

It’s easy to understand why so many retirees are struggling financially when you consider that 30 percent of Americans have no money saved for retirement and another 33 percent have less than $50,000 saved, according to a recent article by CNBC Make It. Many of them will rely on Social Security for their retirement income.

When you consider the average monthly benefit was $1,773 in February, it will be hard to stretch that check — but it can be done. GoBankingRates analyzed the 100 biggest cities with a large population over the age of 65 to come up with its list of the best places to retire with little to no savings. Looking at a variety of metrics such as home values, grocery and utility costs, and whether the state taxes Social Security income, it found that retirees will get the best bang for their buck in Arkansas.

If you don’t have a big bank account, the top five places to retire are Foley, Alabama, Mountain Home, Arkansas, Hot Springs Village, Arkansas, The Villages, Florida, and Bella Vista, Arkansas.

The Seniors Trust believes no senior should struggle financially during retirement. We are committed to protecting and expanding Social Security retirement benefits through passage of the Social Security Expansion Act. This landmark piece of legislation seeks to reform Social Security by expanding and strengthening benefits proven to reduce senior poverty and improve retirement security, as well as extending the solvency of this crucial program.