When planning for retirement, one of the most important things you’ll need to think about is how much you’ll need to live comfortably. Across America, you’ll need a different amount in each state, thanks to differences in living costs. Here are 25 states and how much you might need to set aside for each one.
Florida
This information comes from a BankingRates report. It’s hard to resist Florida’s sunny skies and endless golf courses, especially during retirement. But living the dream in the Sunshine State isn’t exactly cheap, as you’ll need about $73,646 per year to be comfortable. Can you put a price on warm winters and never needing a snow shovel again?
California
If you’re dreaming of retiring in a place where you can surf year-round, then California might be the one for you. To nobody’s surprise, the Golden State comes with some golden price tags because you’ll need to budget about $100,965 annually to keep up with the Cali lifestyle. Even so, those sunsets over the Pacific are worth every penny.
Texas
Everything’s bigger in Texas, including how much you’ll get for your retirement funds, as you’ll need about $67,141 annually to be comfortable. It doesn’t matter if you’re settling down in a busy city like Houston or the quiet Hill Country because, across Texas, you’ve got a great mix of affordability and style.
New York
Want to retire where there’s always something to do? New York could be your dream state, as long as your wallet’s ready. Living comfortably here could cost you around $91,497 annually, which isn’t cheap, but hey, it’s New York. With all those Broadway shows and museums, you’ll never be bored.
Arizona
Arizona’s become a popular spot for retirees, and it’s not hard to see why with those stunning desert landscapes. Living here isn’t the cheapest, but it’s also not the most expensive at $77,404 annually. Places like Sedona and Scottsdale are perfect places if you want a sense of community and somewhere your retirement dollars stretch further.
Alaska
Alaska’s the place for people who want a more adventurous retirement, and it’s certainly not for the faint of heart or thin of wallet. You’ll need about $90,557 to enjoy the Last Frontier comfortably, which is pricey. But with that steep cost comes breathtaking mountain views and wildlife that’s practically your backyard, so it could be worth it.
South Carolina
If you’re looking for some Southern charm during your retirement, South Carolina’s got that in spades, along with some beautiful coastal towns. South Carolina is where you can sip sweet tea on your porch and take a walk down cobblestone streets. Living in a place with such a rich history is surprisingly on the cheaper side at only $69,671 per year.
Georgia
With its delicious peaches and warm hospitality, it’s no wonder that Georgia is a sweet spot for retirees, and living here comfortably isn’t too harsh at $64,539. You can get a taste of city life in Atlanta and enjoy the quietness of laid-back country living in other areas. It’s the perfect retiree choice.
Michigan
Retiring in Michigan means enjoying the Great Lakes and a whole lot more on a budget of around $66,563. It’s a place where you can live pretty comfortably and get access to beautiful natural places for that price. If you’re looking for a place to go boating or fishing, this is the one for you.
Nevada
Las Vegas has certainly made Nevada famous, but there’s so much more to this state for retirees. You can live a good life here for roughly $73,501 per year, and that’ll give you a chance to enjoy all the fun of the Strip, but if that’s not your thing, you can also get some peace in places like Lake Tahoe. And best of all? Nevada has no income tax.
North Carolina
North Carolina is a great spot for retirees since it has some truly beautiful places, like the Appalachian Mountains and the Outer Banks. There are plenty of golf courses and community activities to do, too. If you’re looking to retire here, you’ll need around $69,237 annually, which isn’t much to pay for a place as attractive as this one.
Ohio
Ohio is somewhere you can enjoy a mix of urban and rural living without needing to spend a fortune, as retirees need around $66,057 to live here comfortably. If you’re looking for some rock and roll, Cleveland’s perfect for you, and if you want something more peaceful, head over to the Amish countryside. You can also take part in any number of classes specifically created for seniors.
Pennsylvania
There’s plenty of rich history and nature in Pennsylvania, which you can experience as a retiree if you can afford $70,104 per year. You can explore a ton of iconic landmarks in Pennsylvania, like the Liberty Bell in Philadelphia and the Pocono Mountains. If that’s not your thing, you can also visit some of the year-round festivals, which are particularly good for anyone interested in the arts.
Tennessee
Tennessee is probably most famous for its soul music and majestic mountains, which are the perfect invitation for retirees. You’ll need approximately $65,334 to live a comfortable life and take part in the Nashville or Memphis music scenes. Better yet, there’s so much nature to explore in the Smoky Mountains. What’s not to love?
Virginia
Looking for a taste of American history as a retiree? If you’re getting at least $74,152 annually, head over to Virginia, where you can explore the historic Williamsburg streets or Northern Virginia’s corridors. Plus, Virginia’s healthcare facilities are some of the best in the country, so it’s pretty good for retirees.
Washington
Washington is the perfect mix of city and nature, but you’ll need quite a bit of cash to stay here as a retiree. Estimates put the cost of living comfortably at $83,475, making it more of a place for the weather people out there. But honestly, living in a state as environmentally friendly as this one is definitely worth it.
Wisconsin
In Wisconsin, everyone says hello, and there’s always a cheese festival or farmer’s market to check out. What more could you want? And if you’re getting $68,731 annually, those busy Madison markets and peaceful lakefront moments could be all yours. Community comes first here, so it’s perfect for retirees.
Mississippi
If you want to stretch your retirement dollars, Mississippi’s here to welcome you with open arms. The state has some of the lowest costs of living around, which is why you’ll need around $62,154 to live here comfortably. Plus, you just can’t put a price tag on Mississippi soul food because it’s that good.
Maine
Maine’s charm comes from its small towns and stunning Atlantic coastlines, but it comes at a pretty hefty cost of $81,307. The high cost comes from state taxes and the government’s efforts to protect its gorgeous natural scenes. But even with that high cost, the sense of community you’ll get here is unbeatable.
Illinois
Illinois has a place for everyone, no matter if you prefer the business of Chicago or the calm of the countryside. You’ll need roughly $66,563 annually to enjoy opera nights or quiet river picnics in Illinois. Unlike some of the other states, this state has clear seasons, meaning you’ll get a year-round mix of snow and sun.
Utah
For anyone who loves the great outdoors, Utah is the perfect place. If you’ve got around $74,224 annually, you can enjoy national parks like Zion and Arches being practically in your backyard. And you’ll get to live out your retirement days exploring red-rock canyons and taking part in the senior community.
Oregon
Oregon’s more on the expensive side since you’ll need $83,981 per year to live here comfortably. For some people, it’s absolutely worth it since people in this state value community and sustainability like no other. There are plenty of coastal towns and big cities to suit every person out there.
New Jersey
New Jersey is right in the sweet spot, as you’ve got easy access to major cities like New York and Philadelphia but without the high cost of city living. Even so, you’ll need $80,728 annually to live here, which isn’t as much as these big cities. And best of all, great healthcare is just a stone’s throw away.
Kentucky
Retiring in Kentucky means being able to enjoy its rolling hills and friendly small-town vibes for just around $68,298 per year. Here, you can live comfortably by enjoying some leisurely walks on horse farms and the natural beauty of the Bluegrass State. If you’re looking for a slower pace of life, Kentucky could be right for you.
Maryland
Living in Maryland means you’re just a quick drive from Washington, D.C., but that’s not the only thing on offer. It’s definitely pricey at $87,233, but that’ll give you access to some amazing coastal scenes and delicious seafood. And for those looking for long-term healthcare, the system here is excellent.
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