Moving to a place with a lower cost of living can improve your retirement finances 

Specifically, you want to settle down in the South, but you need to find new hometown that's affordable on a fixed income 

As of April 2022, the average Social Security benefit is $1,538.14 per month, according to the Social Security Administration 

A June 2022 study found this is actually lower than the average cost of a one-bedroom apartment in the U.S. -- $1,927 per month 

Housing isn't the only expense you need to think about. The average annual cost of groceries in the U.S. $4,942 -- $411.83 monthly 

Additionally, the average cost of monthly expenses is $2,770.25, so you'll want to keep that in mind when creating your budget 

In addition to affordability, it's also important choose a Southern town with a sizable 65 and older population 

In addition to affordability, it's also important choose a Southern town with a sizable 65 and older population