How Much Do You Need To Retire In These 50 States?


Retiring comfortably takes more than daydreams of quiet mornings and strolls along the beach—it requires a solid plan and an understanding of what your golden years will truly cost. With the variance in living expenses from state to state, pinpointing your ideal retirement destination is critical. We’ve compiled the annual costs or the savings you’d need by ages 60 or 70 into one handy overview. Browse through and see where your future could bloom brightest.


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Enjoying your golden years in Alabama necessitates a per annum allocation of $56,048. By age 60, you must have saved approximately $1,120,967, which drops to $560,483 if you start at 70. The region’s affordable living costs and dynamic Southern culture provide retirees with a cost-effective yet culturally rich lifestyle.


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A substantial annual budget of $87,697 is needed for post-career life in Alaska. By age 60, savings should reach $1,753,947, reducing to $876,973 by 70. Although expensive, Alaska’s unique terrain and the tranquility of its expansive wilds make it a splendid haven for nature lovers.



Prepare to spend about $72,825 yearly for a cozy retirement in Arizona. You’ll have to save $1,456,502 by age 60 or $728,251 by 70. The area is famed for its year-round sunny skies and is a favorite among pensioners seeking warm winters and many golf courses.



Noted for its natural vistas and low cost of living, Arkansas is an attractive retreat for seniors seeking peace and affordability. When planning for retirement in this locale, expect an annual price of $55,837. Aim to save $1,116,740 by age 60, which decreases to $558,370 by age 70.


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California ranks among the costlier states, with a retirement allocation demanding $95,256 annually. By age 60, aim for financial reserves close to $1,905,121, which ideally halves to $952,560 by age 70. Despite these expenses, California’s diverse environments, from serene beaches to vibrant artistic hubs, provide a dynamic lifestyle for older people.


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Active retirees enjoy Colorado’s abundant open space recreational opportunities and health-conscious communities. A comfortable retirement here necessitates about $70,667 yearly. The goal must be to reserve $1,413,334 by age 60, reducing to $706,667 by age 70.



To settle in Connecticut, you anticipate needing $77,182 per annum. By age 60, aim for financial reserves of $1,543,642, declining to $771,821 by age 70. Older residents in the region experience an eclectic blend of history and modern conveniences with its coastal charm and cultural offerings in cities like New Haven and Hartford.


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For a secure retirement in Delaware, prepare to allocate $65,875 annually. By 60, plan for $1,317,491 in nest egg, reducing to $658,746 by 70. Delaware’s small size and tax-friendly status, including no sales tax and low property taxes, render it an appealing choice for elders.



Year-round warm weather and the absence of state income tax make Florida a top retirement destination. Anticipate an annual retirement expense of $67,310. By age 60, savings should reach around $1,346,206, decreasing to $673,103 by age 70. Additionally, Florida offers numerous leisure activities like golf and beach resorts for an engaging retirement.


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In Georgia, a yearly retirement allocation of $59,197 is recommended. By age 60, you must have saved about $1,183,932, which halves if you start at 70. Georgia attracts older citizens with its mild climate, affordable living, and vibrant artistic scenes in cities like Savannah and Atlanta.



If you dream of retiring in Hawaii, you’ll need about $127,576 annually. Saving $2,551,528 by 60 or $1,275,764 by 70 can make this dream a reality. Hawaii offers unparalleled natural beauty and a unique cultural heritage, and it is the only U.S. state where coffee is grown commercially.



To retire with ease in Idaho costs $64,990 per annum. Achieving this necessitates savings of $1,299,790 by age 60 or $649,895 by age 70. Idaho, celebrated for its vast wilderness and outdoor activities, is perfect for those who love nature. It is famous for its potatoes, producing one-third of the national yield.



With an annual retirement expense of $59,824, Illinois requires a nest egg of $1,196,470 by 60 or half that by 70. Illinois presents a flourishing blend of urban and rural settings, home to the bustling city of Chicago and tranquil countryside. Interestingly, it has the world’s most extensive public library in Chicago.


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Retiring without strain in Indiana means spending $60,327 yearly. Save up $1,206,547 by your 60s or $603,273 by your 70s. Known for the legendary Indianapolis 500, Indiana provides a mix of sports enthusiasm and midwestern charm that seniors appreciate.



The per annum price for those planning to retire in Iowa is $59,382. You should aim for a considerable nest egg of $1,187,640 by age 60 or $593,820 by age 70. Iowa is celebrated for contributing to agriculture, specifically corn, and grants the retired populace a peaceful, community-focused daily life.



Known as the ‘Sunflower State,’ Kansas offers scenic beauty and a relaxed lifestyle that appeal to many pensioners. Prepare to spend $57,714 annually on retirement here. Setting aside $1,154,288 by age 60 or $577,144 by age 70 is advisable.



Famed for its bourbon distilleries and horse racing, Kentucky provides a culturally rich setting for your golden years. An annual retirement budget of $59,143 is required in this locale. By age 60, aim to have saved $1,182,861, reducing to $591,430 by 70. The region’s relatively low cost of living further enhances its appeal to the older population.


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Living securely in retirement in Louisiana costs $59,200 yearly. Plan to save $1,184,005 by 60 or $592,003 by 70. Louisiana’s vibrant culture, especially its jazz music and Mardi Gras festival, makes it an exciting place for seniors seeking a radiant society.



Scenic coastlines and famous seafood cuisine, especially lobsters, create Maine’s tranquil yet enriching setting. The per annum retirement cost here is $74,661. By age 60, you should accumulate $1,493,222, decreasing to $746,611 by 70. Maine’s lively arts community and abundant outdoor activities enhance its attractiveness for those in their golden years.


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Planning for retirement in Maryland involves an annual expense of $76,955. Aim to accumulate $1,539,110 in financial reserves by age 60 and $769,555 by age 70. Maryland, with its spectacular historical landmarks and proximity to the cultural offerings of Washington D.C., has a diverse and intellectually stimulating environment for retirees.


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A comfortable retirement in Massachusetts costs about $104,012 annually. Aim to have $2,080,240 saved by 60 or $1,040,120 by 70. Known for its historical significance and vibrant academic scene, Massachusetts is also home to the oldest public park in the U.S., Boston Common.


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For a retiree in Michigan, plan on spending $60,048 yearly. By 60, reserve $1,200,961, or $600,480 if you start your retirement at 70. Michigan’s abundant freshwater coastline and the radiant city of Detroit, highly regarded for its automotive legacy, offer a spirited living experience for older people.



In Minnesota, anticipate yearly retirement expenses of $62,890. By 60, your nest egg must be $1,257,794, decreasing to $628,897 by 70. The place is known for its thousand lakes and has the highest number of cyclists per capita in the U.S.



Retiring in Mississippi requires $56,921 per annum. You’ll have amassed $1,138,419 by age 60 and $569,210 by age 70. Mississippi, rich in delta blues heritage, provides a warm climate and low cost of living, making it attractive to pensioners seeking a slower pace of life.



$57,964 must be allocated annually for a comfortable retirement in Missouri. By age 60, aim to accumulate $1,159,276, declining to $579,638 by age 70. If you live in a rural area or a smaller city like Springfield or Columbia, Missouri’s lower cost of living could help you save more for retirement.


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Called “Big Sky Country,” Montana features vast natural scenery and is a haven for wildlife enthusiasts and adventurers. To retire here, expect a yearly expense of $67,884. By age 60, you must reserve $1,357,680 or $678,840 by age 70. The region’s low population density provides older citizens with a peaceful and serene environment.



As the birthplace of Kool-Aid and the center of a thriving agricultural society, Nebraska grants residents a quiet, society-driven way of life. The place necessitates an annual budget of $59,685 for retirement. By age 60, aim for financial reserves of $1,193,704, and by 70, $596,852. The affordability in Nebraska ensures that your retirement funds last longer.



Residing securely in retirement in Nevada necessitates $68,582 annually. Aim to amass $1,371,642 by age 60 and $685,821 by age 70. Beyond its casino cities, Nevada has vast desert vistas and over 300 sunny days a year, perfect for those who love the open spaces.

New Hampshire

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Praised for its lack of sales and income tax, New Hampshire has natural beauty and a strong sense of community. Retirement costs total $74,471 per annum. By age 60, aim to accumulate $1,489,430, which reduces to $744,715 by age 70. This financial advantage makes it an appealing location for retirees.

New Jersey


You’ll need an annual budget of $73,892 to retire in New Jersey. Aim to save $1,477,833 by age 60 and $738,917 by age 70. N.J. grants proximity to major metropolitan areas and diverse cultural experiences. It’s also home to the highest concentration of shopping malls in one area worldwide.

New Mexico

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To retire in New Mexico, expect to need $61,775 annually. Reserve $1,235,500 by 60 or half that by 70. Esteemed for its rich Native American and Hispanic cultures, New Mexico is famous for its stunning desert vistas and vibrant arts scene, including the annual International Balloon Fiesta.

New York

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To enter your golden years affordably in New York, budget $87,058 yearly. You’ll need $1,741,152 saved by 60 or $870,576 by 70. Beyond the allure of NYC, New York State presents various retirement lifestyle options with attractions such as Niagara Falls and the Adirondacks.

North Carolina

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A comfortable retirement in North Carolina costs about $64,049 per year. Aim to save $1,280,970 by age 60 or $640,485 by 70. This place is unique because of its Appalachian Mountains and its role in the American Revolution and Civil War.

North Dakota

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In North Dakota, plan for an annual retirement price of $63,523. Amass $1,270,456 by 60 or $635,228 by 70. As one of the country’s most peaceful and air-quality-oriented states, North Dakota offers seniors a wide range of prairies and a high standard of living.


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Ohioans require $61,020 per annum for a cozy retirement and save up to $1,220,390 by 60 or $610,195 by 70. Ohio is hailed for its significant contributions to aviation history and houses the National Aviation Hall of Fame.


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Oklahoma expects annual retirement expenses of $56,936. It recommends saving $1,138,728 by 60 or $569,364 by 70. Distinguished by its Native American heritage and cowboy culture, Oklahoma hosts many lakes and reservoirs with ample fishing and boating opportunities.


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Living comfortably in retirement in Oregon requires $79,356 each year. By age 60, you should amass $1,587,111, or $793,556, by age 70. Oregon is revered for its environmental initiatives and open-air activities and has no state sales tax.



Well-regarded for its rich cultural scene, Pennsylvania offers seniors numerous museums, theaters, and parks. Annual retirement expenses are $61,870, with target savings of $1,237,410 by age 60 and $618,705 by age 70. Additionally, the area provides tax benefits, such as exemptions on Social Security income and public pensions, making it an attractive destination for the older population.

Rhode Island


Rhode Island’s retirement costs total $72,511 annually. By 60, set aside $1,450,220, halving it by 70. The region offers coastal living and is famed for its colonial towns and large sailing community, including hosting the prestigious America’s Cup.

South Carolina

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Famous for its historic sites and warm beaches, South Carolina is an ideal environment for those seeking history and relaxation. Approximately $60,631 is needed each year to retire in this Palmetto State. Strive to have accumulated $1,212,620 by 60 or $606,310 by 70.

South Dakota


An annual reserve of $61,078 is recommended for the retiree population in South Dakota. Aim to save $1,221,562 by age 60 or $610,781 by age 70. This place has a rich Native American heritage and is home to the stunning Mount Rushmore, a top destination for tourists and history enthusiasts.



Tennessee’s lower cost of living than the national average makes it an attractive option for pensioners and presents a no-state income tax benefit. Living here comfortably in your golden years will require about $58,254 each year. By age 60, it’s wise to have $1,165,073 saved, reducing to $582,536 by age 70.


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For Texas, expect to need $60,586 annually for a comfortable retirement. Save $1,211,718 by 60 or $605,859 by 70. Blessed with diverse terrain, Texas is famous for its BBQ, live music, and significant economic footprint in the tech and energy sectors.


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Notable for its outdoor recreation opportunities, including world-class skiing in Park City and natural wonders like Zion National Park, Utah is an attractive retirement destination. The budget for retirement here is $69,010 yearly. By age 60, you can accumulate $1,380,204 or $690,102 by age 70. Utah’s healthcare system is highly ranked, offering excellent medical care for pensioners.



With its picturesque scenery and prominent maple syrup production, Vermont has a tranquil retirement setting focused on societal and environmental care. Annual retirement costs are $77,903; by age 60, you should set aside $1,558,053; by 70, $779,027. Besides hiking and skiing, you can enjoy numerous regional alfresco activities during retirement.


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Virginia requires $67,569 yearly to settle down securely. Aim for $1,351,373 amassed by 60 and $675,686 by 70. Abundant in American heritage, Virginia is home to several critical historical sites, such as Jamestown and the homes of multiple U.S. Presidents.



A pleasantly retired person in Washington requires an annual income of $79,457. Put aside $1,589,130 by 60 or $794,565 by 70. Washington State is well-regarded not only for its tech industry, which is centered in Seattle, but also for its lush forests and the iconic Mount Rainier.

West Virginia

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Offering a quiet, nature-filled lifestyle, West Virginia is celebrated for its rugged terrain and dynamic coal mining history. An annual retirement allocation of $55,485 is required in the area. Aim to reserve $1,109,701 by age 60, or $554,850 by 70. Moreover, West Virginia has a low cost of living, which can help stretch retirement savings further.



Celebrated for its cheese production and the Green Bay Packers, Wisconsin has a culturally diverse environment for its residents. Retirement expenses run about $64,029 annually. By age 60, aim to have saved $1,280,582; by age 70, you should have $640,291. Interestingly, Wisconsin’s numerous lakes provide ample fishing and boating opportunities, enhancing the quality of retirement life.


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With its breathtaking terrain, including Yellowstone and Grand Teton National Parks, Wyoming is a tranquil retreat for nature lovers. To enjoy your retirement in Wyoming, you will require $61,127 per annum—plan on $1,222,532 by 60 and $611,266 by 70.


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