“Living in a low-cost state could backfire as a long-term retirement strategy, says a report by the National Institute for Retirement Security.

While much of good retirement planning begins decades ahead, a young worker who moves to a low-cost state could end up harming him- or herself later on since wages also tend to be low, the think tank reported Thursday.

For example, North Dakota has one of the lowest costs of living in the country, the institute said, but on average residents of the state have defined contribution account assets of only $27,000.” -Financial Advisor

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