Here’s the Cost To Retire Comfortably in Every State by Age

What stands between most people and retirement is having enough money to afford it. While many people love the idea of an early retirement, say in their 40s or 50s, that goal isn’t very likely in most states. However, retiring in your early 60s depends on where you live.

Of course, to truly live a comfortable retirement takes more than desire — it also takes a large chunk of cash. Find out how much you’ll need to retire, assuming a life expectancy of 80 — depending on the state you call home.

• Annual cost of a comfortable retirement: $56,048
• Retirement savings needed at 60: $1,120,967
• Retirement savings needed at 70: $560,483 

• Annual cost of a comfortable retirement: $87,697
• Retirement savings needed at 60: $1,753,947 
• Retirement savings needed at 70: $876,973

• Annual cost of a comfortable retirement: $72,825
• Retirement savings needed at 60: $1,456,502
• Retirement savings needed at 70: $728,251

• Annual cost of a comfortable retirement: $55,837 
• Retirement savings needed at 60: $1,116,740
• Retirement savings needed at 70: $558,370

• Annual cost of a comfortable retirement: $95,256
• Retirement savings needed at 60: $1,905,121
• Retirement savings needed at 70: $952,560

• Annual cost of a comfortable retirement: $70,667
• Retirement savings needed at 60: $1,413,334
• Retirement savings needed at 70: $706,667

• Annual cost of a comfortable retirement: $77,182
• Retirement savings needed at 60: $1,543,642
• Retirement savings needed at 70: $771,821

• Annual cost of a comfortable retirement: $65,875
• Retirement savings needed at 60: $1,317,491 
• Retirement savings needed at 70: $658,746

• Annual cost of a comfortable retirement: $67,310.
• Retirement savings needed at 60: $1,346,206
• Retirement savings needed at 70: $673,103

• Annual cost of a comfortable retirement: $59,197
• Retirement savings needed at 60: $1,183,932
• Retirement savings needed at 70: $591,966

• Annual cost of a comfortable retirement: $127,576
• Retirement savings needed at 60: $2,551,528
• Retirement savings needed at 70: $1,275,764

• Annual cost of a comfortable retirement: $64,990
• Retirement savings needed at 60: $1,299,790
• Retirement savings needed at 70: $649,895

• Annual cost of a comfortable retirement: $59,824
• Retirement savings needed at 60: $1,196,470
• Retirement savings needed at 70: $598,235

• Annual cost of a comfortable retirement: $60,327
• Retirement savings needed at 60: $1,206,547
• Retirement savings needed at 70: $603,273

• Annual cost of a comfortable retirement: $59,382
• Retirement savings needed at 60: $1,187,640
• Retirement savings needed at 70: $593,820

• Annual cost of a comfortable retirement: $57,714
• Retirement savings needed at 60: $1,154,288
• Retirement savings needed at 70: $577,144

• Annual cost of a comfortable retirement: $59,143
• Retirement savings needed at 60: $1,182,861
• Retirement savings needed at 70: $591,430

• Annual cost of a comfortable retirement: $59,200
• Retirement savings needed at 60: $1,184,005
• Retirement savings needed at 70: $592,003

• Annual cost of a comfortable retirement: $74,661
• Retirement savings needed at 60: $1,493,222
• Retirement savings needed at 70: $746,611

• Annual cost of a comfortable retirement: $76,955
• Retirement savings needed at 60: $1,539,110
• Retirement savings needed at 70: $769,555

• Annual cost of a comfortable retirement: $104,012
• Retirement savings needed at 60: $2,080,240
• Retirement savings needed at 70: $1,040,120

• Annual cost of a comfortable retirement: $60,048
• Retirement savings needed at 60: $1,200,961
• Retirement savings needed at 70: $600,480

• Annual cost of a comfortable retirement: $62,890
• Retirement savings needed at 60: $1,257,794
• Retirement savings needed at 70: $628,897

• Annual cost of a comfortable retirement: $56,921
• Retirement savings needed at 60: $1,138,419
• Retirement savings needed at 70: $569,210

• Annual cost of a comfortable retirement: $57,964
• Retirement savings needed at 60: $1,159,276
• Retirement savings needed at 70: $579,638

• Annual cost of a comfortable retirement: $67,884
• Retirement savings needed at 60: $1,357,680
• Retirement savings needed at 70: $678,840

• Annual cost of a comfortable retirement: $59,685
• Retirement savings needed at 60: $1,193,704
• Retirement savings needed at 70: $596,852

• Annual cost of a comfortable retirement: $68,582
• Retirement savings needed at 60: $1,371,642
• Retirement savings needed at 70: $685,821

• Annual cost of a comfortable retirement: $74,471
• Retirement savings needed at 60: $1,489,430
• Retirement savings needed at 70: $744,715

• Annual cost of a comfortable retirement: $73,892
• Retirement savings needed at 60: $1,477,833 
• Retirement savings needed at 70: $738,917

• Annual cost of a comfortable retirement: $61,775
• Retirement savings needed at 60: $1,235,500
• Retirement savings needed at 70: $617,750

• Annual cost of a comfortable retirement: $87,058
• Retirement savings needed at 60: $1,741,152
• Retirement savings needed at 70: $870,576

• Annual cost of a comfortable retirement: $64,049
• Retirement savings needed at 60: $1,280,970
• Retirement savings needed at 70: $640,485

• Annual cost of a comfortable retirement: $63,523
• Retirement savings needed at 60: $1,270,456
• Retirement savings needed at 70: $635,228

• Annual cost of a comfortable retirement: $61,020
• Retirement savings needed at 60: $1,220,390
• Retirement savings needed at 70: $610,195

• Annual cost of a comfortable retirement: $56,936
• Retirement savings needed at 60: $1,138,728
• Retirement savings needed at 70: $569,364

• Annual cost of a comfortable retirement: $79,356
• Retirement savings needed at 60: $1,587,111
• Retirement savings needed at 70: $793,556

• Annual cost of a comfortable retirement: $61,870
• Retirement savings needed at 60: $1,237,410
• Retirement savings needed at 70: $618,705

• Annual cost of a comfortable retirement: $72,511
• Retirement savings needed at 60: $1,450,220
• Retirement savings needed at 70: $725,110

• Annual cost of a comfortable retirement: $60,631
• Retirement savings needed at 60: $1,212,620
• Retirement savings needed at 70: $606,310

• Annual cost of a comfortable retirement: $61,078
• Retirement savings needed at 60: $1,221,562
• Retirement savings needed at 70: $610,781

• Annual cost of a comfortable retirement: $58,254
• Retirement savings needed at 60: $1,165,073
• Retirement savings needed at 70: $582,536

• Annual cost of a comfortable retirement: $60,586
• Retirement savings needed at 60: $1,211,718
• Retirement savings needed at 70: $605,859

• Annual cost of a comfortable retirement: $69,010
• Retirement savings needed at 60: $1,380,204
• Retirement savings needed at 70: $690,102

• Annual cost of a comfortable retirement: $77,903
• Retirement savings needed at 60: $1,558,053
• Retirement savings needed at 70: $779,027

• Annual cost of a comfortable retirement: $67,569
• Retirement savings needed at 60: $1,351,373
• Retirement savings needed at 70: $675,686

• Annual cost of a comfortable retirement: $79,457
• Retirement savings needed at 60: $1,589,130
• Retirement savings needed at 70: $794,565

• Annual cost of a comfortable retirement: $55,485
• Retirement savings needed at 60: $1,109,701
• Retirement savings needed at 70: $554,850

• Annual cost of a comfortable retirement: $64,029
• Retirement savings needed at 60: $1,280,582
• Retirement savings needed at 70: $640,291

• Annual cost of a comfortable retirement: $61,127
• Retirement savings needed at 60: $1,222,532
• Retirement savings needed at 70: $611,266

John Csiszar contributed to the reporting for this article.

Methodology: For this study, GOBankingRates analyzed each state for their cost of living to determine how much someone would need to save to live comfortably in their retirement. Using the average expenditure costs for [1] Groceries, defined as ‘Food at Home’; [2] Housing, defined as ‘Shelter’; [3] Transportation, defined as ‘Gasoline, other fuels and motor oil’ and ‘other vehicle expenses’; [4] Healthcare; and [5] Utilities, defined as ‘Utilities, fuels and other services,’ all sourced from the Bureau of Labor and Statistics 2022 Consumer Expenditure Survey; and the cost of living indexes from the Missouri Economic and Research Center, the average expenditure for each state was calculated. After calculating the total savings needed, an additional savings buffer was calculated by assuming that total expenditures cover 80% of one’s budget (50% for necessities and 30% for discretionary spending), with 20% left over for savings. GOBankingRates then calculated how much savings you would need to retire comfortably for various retirement ages. All data was collected and is up to date as of Feb. 2, 2024.