Here’s How Much You Need Saved To Retire Rich in Every State

May 9, 2025

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As concerns about the longevity and solvency of Social Security continue to mount, an important calculus for many Americans approaching their golden years is just how much money they’ll need to save in order to retire comfortably. Furthermore, many would likely prefer to know how much they need to retire not just comfortably, but rich.

Check Out: The Cheapest Place To Buy a Home in Every State

To that end, GOBankingRates collated the annual cost of expenditures for a retired person in each of the 50 states by utilizing the Bureau of Labor Statistics’ 2023 Consumer Expenditure Survey and the Missouri Economic Information and Research Center’s 2024 Cost of Living data series, all as a means to determine how much money a prospective retiree would need to save to retire rich for 20 years, 25 years and 30 years.

Curious how much you’ll need to retire in your dream state, or home state? Keep reading to find out.

1. Hawaii

To retire rich for 20 years, you need: $3.6 million
To retire rich for 25 years, you need: $4.5 million
To retire rich for 30 years, you need: $5.4 million
Annual cost of living after Social Security: $89,128

2. Massachusetts

To retire rich for 20 years, you need: $2.6 million
To retire rich for 25 years, you need: $3.2 million
To retire rich for 30 years, you need: $3.9 million
Annual cost of living after Social Security: $64,493

3. California

To retire rich for 20 years, you need: $2.6 million
To retire rich for 25 years, you need: $3.2 million
To retire rich for 30 years, you need: $5.4 million
Annual cost of living after Social Security: $63,832

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4. Alaska

To retire rich for 20 years, you need: $2.0 million
To retire rich for 25 years, you need: $2.6 million
To retire rich for 30 years, you need: $3.1 million
Annual cost of living after Social Security: $51,213

5. New York

To retire rich for 20 years, you need: $2.0 million
To retire rich for 25 years, you need: $2.5 million
To retire rich for 30 years, you need: $3.1 million
Annual cost of living after Social Security: $50,913

6. Maryland

To retire rich for 20 years, you need: $1.8 million
To retire rich for 25 years, you need: $2.3 million
To retire rich for 30 years, you need: $2.8 million
Annual cost of living after Social Security: $46,106

7. New Jersey

To retire rich for 20 years, you need: $1.8 million
To retire rich for 25 years, you need: $2.3 million
To retire rich for 30 years, you need: $2.7 million
Annual cost of living after Social Security: $45,685

8. Vermont

To retire rich for 20 years, you need: $1.8 million
To retire rich for 25 years, you need: $2.3 million
To retire rich for 30 years, you need: $2.7 million
Annual cost of living after Social Security: $45,565

9. Washington

To retire rich for 20 years, you need: $1.8 million
To retire rich for 25 years, you need: $2.3 million
To retire rich for 30 years, you need: $2.7 million
Annual cost of living after Social Security: $45,445

10. New Hampshire

To retire rich for 20 years, you need: $1.8 million
To retire rich for 25 years, you need: $2.2 million
To retire rich for 30 years, you need: $2.7 million
Annual cost of living after Social Security: $44,484

11. Connecticut

To retire rich for 20 years, you need: $1.8 million
To retire rich for 25 years, you need: $2.2 million
To retire rich for 30 years, you need: $2.7 million
Annual cost of living after Social Security: $44,303

Today’s Top Offers

12. Rhode Island

To retire rich for 20 years, you need: $1.8 million
To retire rich for 25 years, you need: $2.2 million
To retire rich for 30 years, you need: $2.7 million
Annual cost of living after Social Security: $44,243

13. Maine

To retire rich for 20 years, you need: $1.8 million
To retire rich for 25 years, you need: $2.2 million
To retire rich for 30 years, you need: $2.7 million
Annual cost of living after Social Security: $44,183

14. Oregon

To retire rich for 20 years, you need: $1.8 million
To retire rich for 25 years, you need: $2.2 million
To retire rich for 30 years, you need: $2.7 million
Annual cost of living after Social Security: $44,123

15. Arizona

To retire rich for 20 years, you need: $1.8 million
To retire rich for 25 years, you need: $2.2 million
To retire rich for 30 years, you need: $2.6 million
Annual cost of living after Social Security: $43,823

16. Utah

To retire rich for 20 years, you need: $1.6 million
To retire rich for 25 years, you need: $2.0 million
To retire rich for 30 years, you need: $2.4 million
Annual cost of living after Social Security: $39,857

17. Florida

To retire rich for 20 years, you need: $1.5 million
To retire rich for 25 years, you need: $1.9 million
To retire rich for 30 years, you need: $2.3 million
Annual cost of living after Social Security: $38,595

18. Colorado

To retire rich for 20 years, you need: $1.5 million
To retire rich for 25 years, you need: $1.9 million
To retire rich for 30 years, you need: $2.3 million
Annual cost of living after Social Security: $38,144

19. Idaho

To retire rich for 20 years, you need: $1.5 million
To retire rich for 25 years, you need: $1.9 million
To retire rich for 30 years, you need: $2.3 million
Annual cost of living after Social Security: $38,144

Today’s Top Offers

20. Nevada

To retire rich for 20 years, you need: $1.5 million
To retire rich for 25 years, you need: $1.9 million
To retire rich for 30 years, you need: $2.3 million
Annual cost of living after Social Security: $37,694

21. Delaware

To retire rich for 20 years, you need: $1.5 million
To retire rich for 25 years, you need: $1.9 million
To retire rich for 30 years, you need: $2.2 million
Annual cost of living after Social Security: $37,393

22. Virginia

To retire rich for 20 years, you need: $1.5 million
To retire rich for 25 years, you need: $1.9 million
To retire rich for 30 years, you need: $2.2 million
Annual cost of living after Social Security: $37,333

23. North Carolina

To retire rich for 20 years, you need: $1.4 million
To retire rich for 25 years, you need: $1.8 million
To retire rich for 30 years, you need: $2.1 million
Annual cost of living after Social Security: $35,591

24. Wisconsin

To retire rich for 20 years, you need: $1.4 million
To retire rich for 25 years, you need: $1.8 million
To retire rich for 30 years, you need: $2.1 million
Annual cost of living after Social Security: $35,110

25. South Carolina

To retire rich for 20 years, you need: $1.4 million
To retire rich for 25 years, you need: $1.7 million
To retire rich for 30 years, you need: $2.1 million
Annual cost of living after Social Security: $34,449

26. Wyoming

To retire rich for 20 years, you need: $1.4 million
To retire rich for 25 years, you need: $1.7 million
To retire rich for 30 years, you need: $2.1 million
Annual cost of living after Social Security: $34,209

27. Minnesota

To retire rich for 20 years, you need: $1.4 million
To retire rich for 25 years, you need: $1.7 million
To retire rich for 30 years, you need: $2.0 million
Annual cost of living after Social Security: $33,968

Today’s Top Offers

28. Pennsylvania

To retire rich for 20 years, you need: $1.4 million
To retire rich for 25 years, you need: $1.7 million
To retire rich for 30 years, you need: $2.0 million
Annual cost of living after Social Security: $33,968

29. Montana

To retire rich for 20 years, you need: $1.4 million
To retire rich for 25 years, you need: $1.7 million
To retire rich for 30 years, you need: $2.0 million
Annual cost of living after Social Security: $33,848

30. Illinois

To retire rich for 20 years, you need: $1.3 million
To retire rich for 25 years, you need: $1.7 million
To retire rich for 30 years, you need: $2.0 million
Annual cost of living after Social Security: $33,548

31. Ohio

To retire rich for 20 years, you need: $1.3 million
To retire rich for 25 years, you need: $1.7 million
To retire rich for 30 years, you need: $2.0 million
Annual cost of living after Social Security: $33,428

32. New Mexico

To retire rich for 20 years, you need: $1.3 million
To retire rich for 25 years, you need: $1.6 million
To retire rich for 30 years, you need: $2.0 million
Annual cost of living after Social Security: $32,887

33. Nebraska

To retire rich for 20 years, you need: $1.3 million
To retire rich for 25 years, you need: $1.6 million
To retire rich for 30 years, you need: $2.0 million
Annual cost of living after Social Security: $32,767

34. Kentucky

To retire rich for 20 years, you need: $1.3 million
To retire rich for 25 years, you need: $1.6 million
To retire rich for 30 years, you need: $2.0 million
Annual cost of living after Social Security: $32,707

35. Texas

To retire rich for 20 years, you need: $1.3 million
To retire rich for 25 years, you need: $1.6 million
To retire rich for 30 years, you need: $2.0 million
Annual cost of living after Social Security: $32,526

Today’s Top Offers

36. Louisiana

To retire rich for 20 years, you need: $1.3 million
To retire rich for 25 years, you need: $1.6 million
To retire rich for 30 years, you need: $1.9 million
Annual cost of living after Social Security: $32,226

37. South Dakota

To retire rich for 20 years, you need: $1.3 million
To retire rich for 25 years, you need: $1.6 million
To retire rich for 30 years, you need: $1.9 million
Annual cost of living after Social Security: $32,226

38. North Dakota

To retire rich for 20 years, you need: $1.3 million
To retire rich for 25 years, you need: $1.6 million
To retire rich for 30 years, you need: $1.9 million
Annual cost of living after Social Security: $32,046

39. Georgia

To retire rich for 20 years, you need: $1.3 million
To retire rich for 25 years, you need: $1.6 million
To retire rich for 30 years, you need: $1.9 million
Annual cost of living after Social Security: $31,685

40. Indiana

To retire rich for 20 years, you need: $1.2 million
To retire rich for 25 years, you need: $1.6 million
To retire rich for 30 years, you need: $1.9 million
Annual cost of living after Social Security: $31,204

41. Tennessee

To retire rich for 20 years, you need: $1.2 million
To retire rich for 25 years, you need: $1.6 million
To retire rich for 30 years, you need: $1.9 million
Annual cost of living after Social Security: $31,204

42. Michigan

To retire rich for 20 years, you need: $1.2 million
To retire rich for 25 years, you need: $1.6 million
To retire rich for 30 years, you need: $1.9 million
Annual cost of living after Social Security: $31,144

43. Iowa

To retire rich for 20 years, you need: $1.2 million
To retire rich for 25 years, you need: $1.5 million
To retire rich for 30 years, you need: $1.8 million
Annual cost of living after Social Security: $30,724

Today’s Top Offers

44. Arkansas

To retire rich for 20 years, you need: $1.2 million
To retire rich for 25 years, you need: $1.5 million
To retire rich for 30 years, you need: $1.8 million
Annual cost of living after Social Security: $30,123

45. Missouri

To retire rich for 20 years, you need: $1.2 million
To retire rich for 25 years, you need: $1.5 million
To retire rich for 30 years, you need: $1.8 million
Annual cost of living after Social Security: $30,123

46. Alabama

To retire rich for 20 years, you need: $1.2 million
To retire rich for 25 years, you need: $1.5 million
To retire rich for 30 years, you need: $1.8 million
Annual cost of living after Social Security: $29,702

47. Mississippi

To retire rich for 20 years, you need: $1.2 million
To retire rich for 25 years, you need: $1.5 million
To retire rich for 30 years, you need: $1.8 million
Annual cost of living after Social Security: $29,642

48. Kansas

To retire rich for 20 years, you need: $1.2 million
To retire rich for 25 years, you need: $1.5 million
To retire rich for 30 years, you need: $1.7 million
Annual cost of living after Social Security: $29,101

49. Oklahoma

To retire rich for 20 years, you need: $1.1 million
To retire rich for 25 years, you need: $1.4 million
To retire rich for 30 years, you need: $1.7 million
Annual cost of living after Social Security: $28,320

50. West Virginia

To retire rich for 20 years, you need: $1.1 million
To retire rich for 25 years, you need: $1.4 million
To retire rich for 30 years, you need: $1.6 million
Annual cost of living after Social Security: $27,359

_{Methodology: In order to find out exactly how much you need to retire rich in every state, GOBankingRates found the annual cost of expenditures for a retired person in each state by multiplying expenditures for people 65 and up from the Bureau of Labor Statistics’ 2023 Consumer Expenditure Survey by the cost-of-living index for each city from Missouri Economic Information and Research Center’s 2024 Cost of Living data series. To find how much money a retired person would need to save, we divided each state’s annual expenditures, minus the annual Social Security income as sourced from the Social Security Administration’s Monthly Statistical Snapshot in February 2025, by 0.0333%, 0.04% and 0.05% — assuming 20, 25 and 30 years of retirement respectively. To determine how much one would need to retire rich, GOBankingRates took the 20-, 25- and 30-year minimums and doubled those amounts. All data was collected on and is up to date as of April 15, 2025.}

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