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Florida, as it turns out, is a bit overrated for retirees. Arizona, though, still remains a good option.
CNBC ranked the 15 cities where a $100,000 retirement nest egg will stretch the furthest. The list was based on the cost of living index relative to the average annual expenses for retirees 65 and older. Every city on the list has an annual cost of living under $45,000, a figure that factors in housing, taxes, healthcare, and other costs.
Two Arizona cities, Phoenix and Tucson, ranked highly, as did Albuquerque, Oklahoma City, and Nashville. Ignoring cold winter weather, Madison, Wis., Sioux Falls, S.D., and Rochester, N.Y., are also affordable.
The mean retirement savings of all U.S. families is nearly $100,000. While that may not be enough to last you through your golden years — a good rule of thumb is to have 10 times your final salary in savings if you want to retire by age 67 — it's a good start, and in some cities, is more than enough to cover a few years of retirement expenses.
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