American consider a minimum of $ 1.46 million for a comfortable retirement, a Northwestern mutual study found. However, the threshold of savings required to retire well varies greatly in states.
No matter where you spend your golden year, it is important to be realistic how much cash you will need to fund the future.
People should try to stay on their expected retirement budget for a few years and inflation factors in long -term money goals, Financial expert Stacey Black told entrepreneur Last year.
Related: According to a new report, here are the best and worst states for retirement in 2025
A new study from online lender Netcredit In 2025, how much money does the Americans need to retire comfortably in every American state. Researchers calculated the average length of retirement (about 15 years per year of American life expectancy and retirement age) and multiplied it by the cost of life of each state, then increased it by 20% to allow it to be more “comfortable” retirement.
The study found that West Virginia, Arkansas and South Dakota are at least expensive states, requiring $ 712,921, $ 715,126 and $ 724,669 respectively to retire in 2025, respectively.
Hawaii ($ 1,097,790), Massachusetts ($ 1,059,811) and California ($ 1,053,814) scored the top three most expensive states, with well retired according to the data.
Related: Early Retirement vs. Delayed Retirement: Which is right for you?
Look at the map of Netcredit below to break the entire state-by-state, how much is the cost of a comfortable retirement in the US:
Image Credit: Courtesy of Natakredit
American consider a minimum of $ 1.46 million for a comfortable retirement, a Northwestern mutual study found. However, the threshold of savings required to retire well varies greatly in states.
No matter where you spend your golden year, it is important to be realistic how much cash you will need to fund the future.
People should try to stay on their expected retirement budget for a few years and inflation factors in long -term money goals, Financial expert Stacey Black told entrepreneur Last year.
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