This Is Exactly How Much You Need to Retire in Every State (Spoiler: It’s a Lot)

Once upon a time, retirement followed a template: You worked until 65, and then your coworkers threw a potluck celebration in the conference room for you and sent you on your way. On to traveling, mowing the lawn too often, and picking up new hobbies. Pensions were the norm.

Now, a new state-by-state analysis from GOBankingRates showing how much savings is needed to retire by 65 in each state is revealing some concerning discrepancies. Depending on where you live, the savings requirement can vary by as much as $1.46 million. Yikes, right? We’ve gathered the findings for each state below so you can see how your future is stacking up.

Alabama

• Annual cost of living: $53,999
• Savings you need to retire: $789,037

Alaska

• Annual cost of living: $78,449
• Savings you need to retire: $1,400,286

Arizona

• Annual cost of living: $66,838
• Savings you need to retire: $1,110,019

Arkansas

• Annual cost of living: $54,859
• Savings you need to retire: $810,538

California

• Annual cost of living: $83,978
• Savings you need to retire: $1,538,508

Colorado

• Annual cost of living: $63,091
• Savings you need to retire: $1,016,336

Connecticut

• Annual cost of living: $70,094
• Savings you need to retire: $1,191,417

Delaware

• Annual cost of living: $63,152
• Savings you need to retire: $1,017,871

Florida

• Annual cost of living: $61,125
• Savings you need to retire: $967,190

Georgia

• Annual cost of living: $56,395
• Savings you need to retire: $848,933

Hawaii

• Annual cost of living: $110,393
• Savings you need to retire: $2,198,902

Idaho

• Annual cost of living: $60,818
• Savings you need to retire: $959,511

Illinois

• Annual cost of living: $58,913
• Savings you need to retire: $911,901

Indiana

• Annual cost of living: $55,657
• Savings you need to retire: $830,504

Iowa

• Annual cost of living: $55,473
• Savings you need to retire: $825,896

Kansas

• Annual cost of living: $54,613
• Savings you need to retire: $804,395

Kentucky

• Annual cost of living: $56,456
• Savings you need to retire: $850,469

Louisiana

• Annual cost of living: $56,947
• Savings you need to retire: $862,756

Maine

• Annual cost of living: $70,155
• Savings you need to retire: $1,192,953

Maryland

• Annual cost of living: $73,043
• Savings you need to retire: $1,265,135

Massachusetts

• Annual cost of living: $92,639
• Savings you need to retire: $1,755,055

Michigan

• Annual cost of living: $58,176
• Savings you need to retire: $893,472

Minnesota

• Annual cost of living: $57,869
• Savings you need to retire: $885,793

Mississippi

• Annual cost of living: $52,524
• Savings you need to retire: $752,178

Missouri

• Annual cost of living: $54,674
• Savings you need to retire: $805,931

Montana

• Annual cost of living: $67,452
• Savings you need to retire: $1,125,377

Nebraska

• Annual cost of living: $56,272
• Savings you need to retire: $845,862

Nevada

• Annual cost of living: $60,572
• Savings you need to retire: $953,368

New Hampshire

• Annual cost of living: $67,084
• Savings you need to retire: $1,116,163

New Jersey

• Annual cost of living: $70,401
• Savings you need to retire: $1,199,096

New Mexico

• Annual cost of living: $56,825
• Savings you need to retire: $859,684

New York

• Annual cost of living: $77,773
• Savings you need to retire: $1,383,392

North Carolina

• Annual cost of living: $59,835
• Savings you need to retire: $934,938

North Dakota

• Annual cost of living: $56,087
• Savings you need to retire: $841,254

Ohio

• Annual cost of living: $57,009
• Savings you need to retire: $864,291

Oklahoma

• Annual cost of living: $51,849
• Savings you need to retire: $735,284

Oregon

• Annual cost of living: $68,681
• Savings you need to retire: $1,156,093

Pennsylvania

• Annual cost of living: $59,650
• Savings you need to retire: $930,331

Rhode Island

• Annual cost of living: $69,664
• Savings you need to retire: $1,180,666

South Carolina

• Annual cost of living: $56,825
• Savings you need to retire: $859,684

South Dakota

Tennessee

• Annual cost of living: $55,473
• Savings you need to retire: $825,896

Texas

• Annual cost of living: $55,780
• Savings you need to retire: $833,575

Utah

• Annual cost of living: $60,879
• Savings you need to retire: $961,047

Vermont

• Annual cost of living: $69,848
• Savings you need to retire: $1,185,274

Virginia

• Annual cost of living: $61,493
• Savings you need to retire: $976,405

Washington

• Annual cost of living: $69,971
• Savings you need to retire: $1,188,345

West Virginia

• Annual cost of living: $54,122
• Savings you need to retire: $792,109

Wisconsin

• Annual cost of living: $60,019
• Savings you need to retire: $939,546

Wyoming

• Annual cost of living: $58,545
• Savings you need to retire: $902,686
  

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