Best US cities to retire early
By Emmie Martin From Business Insider
The South’s low cost of living makes it an ideal place for anyone vying for early retirement.iStock / Sean Pavone
For many people, the prospect of retiring before 65 is a lofty dream. But early retirement is becoming increasingly common — and achievable.
A lot of factors determine if you’re able to retire early — salary, savings rate, cost of living — and where you live can play a major role in how these factors pan out.
MagnifyMoney evaluated 217 US cities on cost of living (50%), quality of life (30%), and employability (20%) to determine which places in America are ripest for setting an early retirement plan into motion. You can read a full breakdown of the methodology here.
Southern states topped the charts in terms of cost of living, while the Northeast earned higher scores for quality of life. The South won out overall, with eight of the top 10 cities residing there, including the top two places: Memphis and Knoxville, Tennessee.
If you’re considering early retirement, read on to check out the best places in America to make that a reality.
10. McAllen, Texas
Reynosa Blogs/Flickr
Cost of living score: 100
Quality of life score: 41
Employability score: 58
7. (TIE) Evansville, Indiana
Wikipedia
Cost of living score: 90
Quality of life score: 57
Employability score: 63
7. (TIE) Hattiesburg, Mississippi
Dudemanfellabra/Wikimedia Commons
Cost of living score: 96
Quality of life score: 41
Employability score: 72
7. (TIE) Cleveland, Tennessee
Google Maps
Cost of living score: 98
Quality of life score: 39
Employability score: 72
5. (TIE) Jonesboro, Arkansas
The City of Jonesboro AR/Facebook
Cost of living score: 97
Quality of life score: 40
Employability score: 75
5. (TIE) Wichita Falls, Texas
Barbara Brannon/Flickr
Cost of living score: 99
Quality of life score: 48
Employability score: 60
2. (TIE) Benton Harbor, Michigan
Russell Sekeet/Flickr
Cost of living score: 92
Quality of life score: 63
Employability score: 59
2. (TIE) Sherman, Texas
Sherman, Texas – Class Town. Broad Horizon./Facebook
Cost of living score: 93
Quality of life score: 51
Employability score: 77
2. (TIE) Memphis, Tennessee
Natalia Bratslavsky / Shutterstock.com”>Shutterstock
Cost of living score: 97
Quality of life score: 38
Employability score: 88
1. Knoxville, Tennessee
iStock / Sean Pavone
Cost of living score: 98
Quality of life score: 41
Employability score: 83
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