Posted on 07/06/2025 2:08:11 PM PDT by Libloather
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A study released this week by GOBankingRates calculated the amount of money that a "comfortable" retirement would require without income from Social Security factored in and the associated yearly expenses a retiree would face in each U.S. state.
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Alabama ($70,492 cost of living per year): $1,409,839
Alaska ($110,457 cost of living per year): $2,209,137
Arizona ($100,281 cost of living per year): $2,005,627
Arkansas ($67,502 cost of living per year): $1,350,045
California ($155,117 cost of living per year): $3,102,333
Colorado ($114,744 cost of living per year): $2,294,882
Connecticut ($105,428 cost of living per year): $2,108,563
Delaware ($94,392 cost of living per year): $1,887,834
Florida ($97,119 cost of living per year): $1,942,374
Georgia ($86,005 cost of living per year): $1,720,096
Hawaii ($186,062 cost of living per year): $3,721,237
Idaho ($101,912 cost of living per year): $2,038,236
Illinois ($79,736 cost of living per year): $1,594,716
Indiana ($74,029 cost of living per year): $1,480,575
Iowa ($71,373 cost of living per year): $1,427,463
Kansas ($71,534 cost of living per year): $1,430,672
Kentucky ($71,410 cost of living per year): $1,428,204
Louisiana ($67,482 cost of living per year): $1,349,639
Maine ($98,612 cost of living per year): $1,972,231
Maryland ($101,991 cost of living per year): $2,039,812
Massachusetts ($136,626 cost of living): $2,732,517
Michigan ($73,780 cost of living per year): $1,475,595
Minnesota ($88,321 cost of living per year): $1,766,414
Mississippi ($65,523 cost of living per year): $1,310,451
Missouri ($73,667 cost of living per year): $1,473,335
Montana ($102,916 cost of living per year): $2,058,322
Nebraska ($76,792 cost of living per year): $1,535,846
Nevada ($103,661 cost of living per year): $2,073,215
New Hampshire ($110,761 cost of living per year): $2,215,216
New Jersey ($118,338 cost of living per year): $2,366,765
New Mexico ($81,627 cost of living per year): $1,632,542
New York ($105,619 cost of living per year): $2,112,384
More...
(Excerpt) Read more at foxbusiness.com ...
North Carolina ($86,857 cost of living per year): $1,737,146
North Dakota ($78,734 cost of living per year): $1,574,682
Ohio ($73,120 cost of living per year): $1,462,391
Oklahoma ($69,161 cost of living per year): $1,383,214
Oregon ($111,541 cost of living per year): $2,230,814
Pennsylvania ($78,582 cost of living per year): $1,571,642
Rhode Island ($109,811 cost of living per year): $2,196,222
South Carolina ($81,586 cost of living per year): $1,631,721
South Dakota ($81,949 cost of living per year): $1,638,979
Tennessee ($81,474 cost of living per year): $1,629,482
Texas ($81,985 cost of living per year): $1,639,693
Utah ($110,623 cost of living per year): $2,212,458
Vermont ($97,999 cost of living per year): $1,959,971
Virginia ($96,141 cost of living per year): $1,922,813
Washington ($126,952 cost of living per year): $2,539,048
West Virginia ($64,715 cost of living per year): $1,294,300
Wisconsin ($84,485 cost of living per year): $1,689,700
Wyoming ($88,792 cost of living per year): $1,775,841
People need to do serious financial planning when they’re young and that just isn’t on most young people’s radar.
My kids get it and have been putting money away for retirement for years already. I guess we taught them SOMETHING when they were growing up.
I’d do ok on half .
I spend 4K a month in Florida. Not sure where they get the 100K from. I bring in 77K a year so 100K would require additional revenue. Seems very exaggerated.
Simple enough solution. Move to rural Louisiana or rural Mississippi.
Same here. Lived in FL since a kid. Never made near that.
Lots of wide open wildnerness that you can drop a trailer and not be detected for years on end.
I recently retired in MA.
I live in a big, expensive house. With enormous property taxes.
I'm currently budgeted for 7000 a month, and it's too much. I'm going to reduce my monthly allowance to 6000 which ought to be just fine. I'm not collecting social security yet, but will in a few months, and that will pay for more than half my needs.
I have no idea where this $136,000 figure is coming from.
“””Simple enough solution. Move to rural Louisiana or rural Mississippi.”””
Being retired I would love to live out in the boonies somewhere. But then you are far away from good medical facilities so you would be traveling all the time.
California over three million!, only Hawaii is worst.
Same. About 4k a month for 2. Make 120k a year. Bring home 7k a month.
Some people have a different definition of comfortable than others.
Compound Interest is the 8th Wonder Of The World.
The numbers are ridiculous.
It sounds like you need to be eating more lobster and drinking champagne.
“Compound Interest is the 8th Wonder Of The World.”
Compound Inflation is the 9th.
Tell me about those looming social security cuts. I haven’t heard about them.
Well, Zimbabwe is cheaper than Mississippi, and parts of it aren't much different. Decent medical care if you live within range of Jackson, Memphis, or New Orleans, but there are large risks in going to any of those. Louisiana - decent medical care in New Orleans, Shreveport, or Baton Rouge. But same risks. Maybe the Florida parishes of Louisiana?
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