Financial planning is essential when deciding where to spend your retirement years. According to the Social Security Administration, the average benefit for January 2024 was $1,907, and the average spending was $4,345, so it’s crucial to maximize your savings and get more bang for your buck. That includes moving to a state with reasonably priced housing, a low tax burden for seniors, and a cost of living that’s ideally below the nation’s average. And that state, according to a recent study by the financial website Insider Monkey, is South Dakota.