Tennessee ninth cheapest state for retirees

Tennessee is in the top ten cheapest places to retire with a cost of living for retirees 10.3% less than the national average. New findings from financial planning website 24/7 Wall Street found Tennessee ranked as the ninth cheapest state to retire in with a savings of $937,660 needed to fund retirement in the state, $183,000 less than the average retirement savings needed nationally. The typical retirement-age homeowner in the state without a mortgage spends $388 a month on housing, below the national median cost of $499. Tennessee retirees typically live 18.1 additional years past the age of 65, which is more than a year below the national average life expectancy post retirement.