Early Retirement: How Much You Need To Save To Retire by 40 in Each State

Many Americans dream of an early retirement, but they might underestimate the savings needed to fund the next chapter. A new original research study from GOBankingRates indicates Americans retiring by age 40 need at least $2 million saved to fund 40 years of retirement in every state. And the savings needed only increases from there if you’re planning to be retired for 50 years (age 90) or 60 years (age 100).

GOBankingRates sourced the cost-of-living indexes and average overall expenditures for retired households in every state to calculate the average annual cost of living. The cost to live to age ranges 80, 90 and 100 was calculated and sorted by states where you need the least to most money in savings.

Neither Social Security nor inflation were factored in.

• Oklahoma has the lowest savings balance to retire by 40. Retirees need $2,140,654 saved for 40 years (age 80), $2,675,818 for 50 years (age 90) and $3,210,981 for 60 years (age 90).
• Hawaii is the most expensive state for funding a 40-year retirement. Early retirees in The Aloha State need a whopping $4,557,767 saved — more than double the amount needed in Oklahoma.
• Retiring by 40 requires $2.2 million (minimum) in the top 10 states. This amount covers 40 years of retirement in Oklahoma (#1), Mississippi (#2), Alabama (#3), West Virginia (#4), Kansas (#5), Missouri (#6), Arkansas (#7), Iowa and Tennessee (tied for #8) and Indiana (#10). 
• Maryland, New York, Alaska, California and Hawaii are the five most expensive states for early retirement. The amount needed to live to age 80 is at least $3,015,684 (in Maryland) and up to $4,557,767 in Hawaii.

This is how much you need to retire by 40 in every state, sorted from states where you need the least to most retirement savings. Plus, this is how far $1.5 retirement savings plus Social Security goes in every state.

• Annual expenditures: $53,516
• Amount needed to live to 80: $2,140,654
• Amount needed to live to 90: $2,675,818
• Amount needed to live to 100: $3,210,981

• Annual expenditures: $54,214
• Amount needed to live to 80: $2,168,554
• Amount needed to live to 90: $2,710,692
• Amount needed to live to 100: $3,252,830

• Annual expenditures: $55,736
• Amount needed to live to 80: $2,229,425
• Amount needed to live to 90: $2,786,782
• Amount needed to live to 100: $3,344,138

• Annual expenditures: $55,862
• Amount needed to live to 80: $2,234,498
• Amount needed to live to 90: $2,793,122
• Amount needed to live to 100: $3,351,747

• Annual expenditures: $56,370
• Amount needed to live to 80: $2,254,788
• Amount needed to live to 90: $2,818,486
• Amount needed to live to 100: $3,382,183

• Annual expenditures: $56,433
• Amount needed to live to 80: $2,257,325
• Amount needed to live to 90: $2,821,656
• Amount needed to live to 100: $3,385,987

• Annual expenditures: $56,623
• Amount needed to live to 80: $2,264,934
• Amount needed to live to 90: $2,831,167
• Amount needed to live to 100: $3,397,401

• Annual expenditures: $57,257
• Amount needed to live to 80: $2,290,297
• Amount needed to live to 90: $2,862,871
• Amount needed to live to 100: $3,435,445

• Annual expenditures: $57,257
• Amount needed to live to 80: $2,290,297
• Amount needed to live to 90: $2,862,871
• Amount needed to live to 100: $3,435,445

• Annual expenditures: $57,448
• Amount needed to live to 80: $2,297,906
• Amount needed to live to 90: $2,872,382
• Amount needed to live to 100: $3,446,859

• Annual expenditures: $57,574
• Amount needed to live to 80: $2,302,979
• Amount needed to live to 90: $2,878,723
• Amount needed to live to 100: $3,454,468

• Annual expenditures: $57,892
• Amount needed to live to 80: $2,315,660
• Amount needed to live to 90: $2,894,575
• Amount needed to live to 100: $3,473,490

• Annual expenditures: $58,082
• Amount needed to live to 80: $2,323,269
• Amount needed to live to 90: $2,904,086
• Amount needed to live to 100: $3,484,904

• Annual expenditures: $58,209
• Amount needed to live to 80: $2,328,342
• Amount needed to live to 90: $2,910,427
• Amount needed to live to 100: $3,492,513

• Annual expenditures: $58,209
• Amount needed to live to 80: $2,328,342
• Amount needed to live to 90: $2,910,427
• Amount needed to live to 100: $3,492,513

• Annual expenditures: $58,272
• Amount needed to live to 80: $2,330,878
• Amount needed to live to 90: $2,913,598
• Amount needed to live to 100: $3,496,317

• Annual expenditures: $58,652
• Amount needed to live to 80: $2,346,096
• Amount needed to live to 90: $2,932,620
• Amount needed to live to 100: $3,519,144

• Annual expenditures: $58,652
• Amount needed to live to 80: $2,346,096
• Amount needed to live to 90: $2,932,620
• Amount needed to live to 100: $3,519,144

• Annual expenditures: $58,779
• Amount needed to live to 80: $2,351,169
• Amount needed to live to 90: $2,938,961
• Amount needed to live to 100: $3,526,753

• Annual expenditures: $58,843
• Amount needed to live to 80: $2,353,705
• Amount needed to live to 90: $2,942,131
• Amount needed to live to 100: $3,530,557

• Annual expenditures: $59,730
• Amount needed to live to 80: $2,389,213
• Amount needed to live to 90: $2,986,517
• Amount needed to live to 100: $3,583,820

• Annual expenditures: $60,047
• Amount needed to live to 80: $2,401,895
• Amount needed to live to 90: $3,002,369
• Amount needed to live to 100: $3,602,843

• Annual expenditures: $60,428
• Amount needed to live to 80: $2,417,113
• Amount needed to live to 90: $3,021,391
• Amount needed to live to 100: $3,625,669

• Annual expenditures: $60,808
• Amount needed to live to 80: $2,432,331
• Amount needed to live to 90: $3,040,414
• Amount needed to live to 100: $3,648,496

• Annual expenditures: $61,569
• Amount needed to live to 80: $2,462,767
• Amount needed to live to 90: $3,078,458
• Amount needed to live to 100: $3,694,150

• Annual expenditures: $61,759
• Amount needed to live to 80: $2,470,376
• Amount needed to live to 90: $3,087,970
• Amount needed to live to 100: $3,705,564

• Annual expenditures: $61,950
• Amount needed to live to 80: $2,477,985
• Amount needed to live to 90: $3,097,481
• Amount needed to live to 100: $3,716,977

• Annual expenditures: $62,520
• Amount needed to live to 80: $2,500,812
• Amount needed to live to 90: $3,126,014
• Amount needed to live to 100: $3,751,217

• Annual expenditures: $62,774
• Amount needed to live to 80: $2,510,957
• Amount needed to live to 90: $3,138,696
• Amount needed to live to 100: $3,766,435

• Annual expenditures: $62,837
• Amount needed to live to 80: $2,513,493
• Amount needed to live to 90: $3,141,866
• Amount needed to live to 100: $3,770,240

• Annual expenditures: $63,091
• Amount needed to live to 80: $2,523,638
• Amount needed to live to 90: $3,154,548
• Amount needed to live to 100: $3,785,458

• Annual expenditures: $63,471
• Amount needed to live to 80: $2,538,856
• Amount needed to live to 90: $3,173,570
• Amount needed to live to 100: $3,808,284

• Annual expenditures: $65,120
• Amount needed to live to 80: $2,604,801
• Amount needed to live to 90: $3,256,001
• Amount needed to live to 100: $3,907,201

• Annual expenditures: $65,183
• Amount needed to live to 80: $2,607,337
• Amount needed to live to 90: $3,259,171
• Amount needed to live to 100: $3,911,005

• Annual expenditures: $68,988
• Amount needed to live to 80: $2,759,516
• Amount needed to live to 90: $3,449,395
• Amount needed to live to 100: $4,139,274

• Annual expenditures: $69,242
• Amount needed to live to 80: $2,769,661
• Amount needed to live to 90: $3,462,077
• Amount needed to live to 100: $4,154,492

• Annual expenditures: $69,622
• Amount needed to live to 80: $2,784,879
• Amount needed to live to 90: $3,481,099
• Amount needed to live to 100: $4,177,319

• Annual expenditures: $70,890
• Amount needed to live to 80: $2,835,606
• Amount needed to live to 90: $3,544,507
• Amount needed to live to 100: $4,253,409

• Annual expenditures: $71,905
• Amount needed to live to 80: $2,876,187
• Amount needed to live to 90: $3,595,234
• Amount needed to live to 100: $4,314,280

• Annual expenditures: $72,095
• Amount needed to live to 80: $2,883,796
• Amount needed to live to 90: $3,604,745
• Amount needed to live to 100: $4,325,694

• Annual expenditures: $72,222
• Amount needed to live to 80: $2,888,868
• Amount needed to live to 90: $3,611,086
• Amount needed to live to 100: $4,333,303

• Annual expenditures: $72,349
• Amount needed to live to 80: $2,893,941
• Amount needed to live to 90: $3,617,426
• Amount needed to live to 100: $4,340,912

• Annual expenditures: $72,412
• Amount needed to live to 80: $2,896,477
• Amount needed to live to 90: $3,620,597
• Amount needed to live to 100: $4,344,716

• Annual expenditures: $72,666
• Amount needed to live to 80: $2,906,623
• Amount needed to live to 90: $3,633,278
• Amount needed to live to 100: $4,359,934

• Annual expenditures: $75,392
• Amount needed to live to 80: $3,015,684
• Amount needed to live to 90: $3,769,606
• Amount needed to live to 100: $4,523,527

• Annual expenditures: $80,275
• Amount needed to live to 80: $3,210,981
• Amount needed to live to 90: $4,013,726
• Amount needed to live to 100: $4,816,472

• Annual expenditures: $80,972
• Amount needed to live to 80: $3,238,881
• Amount needed to live to 90: $4,048,601
• Amount needed to live to 100: $4,858,321

• Annual expenditures: $86,679
• Amount needed to live to 80: $3,467,149
• Amount needed to live to 90: $4,333,937
• Amount needed to live to 100: $5,200,724

• Annual expenditures: $95,619
• Amount needed to live to 80: $3,824,771
• Amount needed to live to 90: $4,780,963
• Amount needed to live to 100: $5,737,156

• Annual expenditures: $113,944
• Amount needed to live to 80: $4,557,767
• Amount needed to live to 90: $5,697,209
• Amount needed to live to 100: $6,836,651

Read more original studies and surveys in the GOBankingRates original research center.

Methodology: The cost-of-living indexes were sourced from the Missouri Economic and Research Information Center. Using the average expenditures for retired households, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey, the average annual cost of living for each state was calculated. Assuming you retire at 40, the cost to live to different age ranges was calculated. All data was collected on Dec. 4, 2025.