In a recent study, SmartAsset ranked Webster County No. 1 on the list of best places in Mississippi to live on Social Security.
The study analyzes Social Security income, cost of living data and taxes across all counties to determine where people are getting the most out of Social Security, and Webster County ranked first on the list.
Webster County has an $18,126 cost of living with $19,721 of annual Social Security. DeSoto County was ranked at No. 2 with a $20,360 cost of living and $21,221 in annual Social Security.
Social Security is critical for most retirees. Steve Sabato from SmartAsset said it is important for senior citizens to consider places like Webster County for retirement.
“Social Security income has a critical impact on your ability to budget for your retirement,” Sabato said, “and the mileage on that income will vary depending on how much of it you can expect, and the cost of living in your county.”
In order to get the most out of retirement, Sabato said seniors should keep their budget in mind.
“The best way to take advantage of your Social Security income is to calculate what you can expect ahead of time so you can set the savings goals necessary to meet your needs in retirement,” Sabato said.
Sabato said it can be beneficial for retirees to live in counties that are ranked higher.
“The benefit of your Social Security income covering these living expenses is that it can create financial flexibility for you depending on how much you have saved for retirement,” Sabato said.
This article includes reporting by the DeSoto Times.
https://smartasset.com/retirement/social-security-calculator#mississippi
