Here’s How Much You Need Saved in Every State If You Live to 100

The basic costs of living don’t exactly come cheap anywhere, but there is wide variation in what people can expect to pay depending upon which state they live in. Most people know that, on average, the cost of living in the South runs a lot cheaper than in more expensive states like California and New York. And if you’re planning on living a long life, those costs can quickly eat into your savings and force you to delay your long-awaited retirement.

To figure out how much you would need to save in order to live comfortably to 100, GOBankingRates sourced data for all 50 states from the Missouri Economic Research and Information Center (MERIC), the Bureau of Labor Statistics and the United States Census Bureau. The study took the U.S. averages for six living expenses — groceries, housing, utilities, transportation, healthcare and miscellaneous costs — and used cost-of-living indices from MERIC to determine the annual cost for each expense in every state. The six living expenses were then added together to give a total annual cost of living for that state.

Assuming a retirement age of 65, GOBankingRates extrapolated the total cost of living data by 35 years to determine how much an individual would need to have saved in each state to live comfortably to age 100.

Last updated: Sept. 14, 2020

• Annual cost of living: $26,580.54
• Total cost of living over 35 years: $930,318.80
• Savings needed to live comfortably to 100: $1,860,637.59

• Annual cost of living: $26,946.25
• Total cost of living over 35 years: $943,118.82
• Savings needed to live comfortably to 100: $1,886,237.64

• Annual cost of living: $27,384.17
• Total cost of living over 35 years: $958,446.09
• Savings needed to live comfortably to 100: $1,916,892.18

• Annual cost of living: $27,406.55
• Total cost of living over 35 years: $959,229.15
• Savings needed to live comfortably to 100: $1,918,458.29

• Annual cost of living: $27,413.14
• Total cost of living over 35 years: $959,459.97
• Savings needed to live comfortably to 100: $1,918,919.94

• Annual cost of living: $27,619.96
• Total cost of living over 35 years: $966,698.74
• Savings needed to live comfortably to 100: $1,933,397.48

• Annual cost of living: $27,667.53
• Total cost of living over 35 years: $968,363.52
• Savings needed to live comfortably to 100: $1,936,727.03

• Annual cost of living: $27,798.81
• Total cost of living over 35 years: $972,958.21
• Savings needed to live comfortably to 100: $1,945,916.42

• Annual cost of living: $27,912.69
• Total cost of living over 35 years: $976,944.22
• Savings needed to live comfortably to 100: $1,953,888.44

• Annual cost of living: $28,089.33
• Total cost of living over 35 years: $983,126.55
• Savings needed to live comfortably to 100: $1,966,253.10

• Annual cost of living: $28,185.21
• Total cost of living over 35 years: $986,482.35
• Savings needed to live comfortably to 100: $1,972,964.70

• Annual cost of living: $28,225
• Total cost of living over 35 years: $987,875.04
• Savings needed to live comfortably to 100: $1,975,750.07

• Annual cost of living: $28,486.15
• Total cost of living over 35 years: $997,015.39
• Savings needed to live comfortably to 100: $1,994,030.78

• Annual cost of living: $28,620.77
• Total cost of living over 35 years: $1,001,726.92
• Savings needed to live comfortably to 100: $2,003,453.83

• Annual cost of living: $28,921.35
• Total cost of living over 35 years: $1,012,247.18
• Savings needed to live comfortably to 100: $2,024,494.36

• Annual cost of living: $28,948.11
• Total cost of living over 35 years: $1,013,183.78
• Savings needed to live comfortably to 100: $2,026,367.56

• Annual cost of living: $29,187.12
• Total cost of living over 35 years: $1,021,549.31
• Savings needed to live comfortably to 100: $2,043,098.61

• Annual cost of living: $29,193.92
• Total cost of living over 35 years: $1,021,787.34
• Savings needed to live comfortably to 100: $2,043,574.68

• Annual cost of living: $29,241.53
• Total cost of living over 35 years: $1,023,453.55
• Savings needed to live comfortably to 100: $2,046,907.10

• Annual cost of living: $29,285.98
• Total cost of living over 35 years: $1,025,009.13
• Savings needed to live comfortably to 100: $2,050,018.25

• Annual cost of living: $29,454.83
• Total cost of living over 35 years: $1,030,919.09
• Savings needed to live comfortably to 100: $2,061,838.17

• Annual cost of living: $29,587.56
• Total cost of living over 35 years: $1,035,564.50
• Savings needed to live comfortably to 100: $2,071,128.99

• Annual cost of living: $29,773.72
• Total cost of living over 35 years: $1,042,080.34
• Savings needed to live comfortably to 100: $2,084,160.68

• Annual cost of living: $30,331.81
• Total cost of living over 35 years: $1,061,613.49
• Savings needed to live comfortably to 100: $2,123,226.98

• Annual cost of living: $30,674.14
• Total cost of living over 35 years: $1,073,594.83
• Savings needed to live comfortably to 100: $2,147,189.66

• Annual cost of living: $30,908.65
• Total cost of living over 35 years: $1,081,802.68
• Savings needed to live comfortably to 100: $2,163,605.36

• Annual cost of living: $31,029.36
• Total cost of living over 35 years: $1,086,027.71
• Savings needed to live comfortably to 100: $2,172,055.41

• Annual cost of living: $31,034.37
• Total cost of living over 35 years: $1,086,203.02
• Savings needed to live comfortably to 100: $2,172,406.04

• Annual cost of living: $31,358.17
• Total cost of living over 35 years: $1,097,535.88
• Savings needed to live comfortably to 100: $2,195,071.76

• Annual cost of living: $31,548.40
• Total cost of living over 35 years: $1,104,193.83
• Savings needed to live comfortably to 100: $2,208,387.65

• Annual cost of living: $31,569.83
• Total cost of living over 35 years: $1,104,943.95
• Savings needed to live comfortably to 100: $2,209,887.89

• Annual cost of living: $31,872.01
• Total cost of living over 35 years: $1,115,520.39
• Savings needed to live comfortably to 100: $2,231,040.77

• Annual cost of living: $32,196.12
• Total cost of living over 35 years: $1,126,864.17
• Savings needed to live comfortably to 100: $2,253,728.33

• Annual cost of living: $32,354.50
• Total cost of living over 35 years: $1,132,407.47
• Savings needed to live comfortably to 100: $2,264,814.93

• Annual cost of living: $33,090.20
• Total cost of living over 35 years: $1,158,157
• Savings needed to live comfortably to 100: $2,316,314

• Annual cost of living: $33,825.14
• Total cost of living over 35 years: $1,183,879.94
• Savings needed to live comfortably to 100: $2,367,759.87

• Annual cost of living: $34,620.63
• Total cost of living over 35 years: $1,211,722.16
• Savings needed to live comfortably to 100: $2,423,444.31

• Annual cost of living: $34,897.66
• Total cost of living over 35 years: $1,221,418.17
• Savings needed to live comfortably to 100: $2,442,836.34

• Annual cost of living: $36,317.58
• Total cost of living over 35 years: $1,271,115.23
• Savings needed to live comfortably to 100: $2,542,230.46

• Annual cost of living: $36,661.98
• Total cost of living over 35 years: $1,283,169.41
• Savings needed to live comfortably to 100: $2,566,338.81

• Annual cost of living: $37,154.14
• Total cost of living over 35 years: $1,300,394.94
• Savings needed to live comfortably to 100: $2,600,789.87

• Annual cost of living: $38,681.48
• Total cost of living over 35 years: $1,353,851.63
• Savings needed to live comfortably to 100: $2,707,703.25

• Annual cost of living: $39,412.25
• Total cost of living over 35 years: $1,379,428.79
• Savings needed to live comfortably to 100: $2,758,857.57

• Annual cost of living: $39,693.97
• Total cost of living over 35 years: $1,389,288.81
• Savings needed to live comfortably to 100: $2,778,577.62

• Annual cost of living: $41,303.22
• Total cost of living over 35 years: $1,445,612.53
• Savings needed to live comfortably to 100: $2,891,225.05

• Annual cost of living: $41,482.91
• Total cost of living over 35 years: $1,451,901.92
• Savings needed to live comfortably to 100: $2,903,803.84

• Annual cost of living: $41,771.22
• Total cost of living over 35 years: $1,461,992.74
• Savings needed to live comfortably to 100: $2,923,985.47

• Annual cost of living: $43,066.26
• Total cost of living over 35 years: $1,507,319.10
• Savings needed to live comfortably to 100: $3,014,638.20

• Annual cost of living: $43,936.11
• Total cost of living over 35 years: $1,537,763.99
• Savings needed to live comfortably to 100: $3,075,527.98

• Annual cost of living: $61,360.62
• Total cost of living over 35 years: $2,147,621.81
• Savings needed to live comfortably to 100: $4,295,243.61

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Methodology: GOBankingRates looked at all 50 states and D.C. in terms of cost of living for retirees 65 and older in order to discover how much one would need saved in every state if you lived to 100. First, GOBankingRates sourced cost of living indices from the Missouri Economic Research and Information Center’s (MERIC) 2019 second quarter cost of living data series for each state in the following categories: groceries, housing, utilities, transportation, healthcare and miscellaneous.

GOBankingRates determined the total annual cost of living by looking at the (1) annual cost of groceries based on the “food at home” annual expenditure for a person 65 and older, sourced from the third quarter 2017 through second quarter 2018 Bureau of Labor Statistics (BLS) Consumer Expenditure Survey; (2) annual cost of housing, based on the “shelter” annual expenditure for a person 65 and older, sourced from the third quarter 2017 through second quarter 2018 BLS Consumer Expenditure Survey; (3) annual cost of utilities, based on the “utilities, fuels and public services” annual expenditure for a person 65 and older, sourced from the third quarter 2017 through second quarter 2018 BLS Consumer Expenditure Survey; (4) annual cost of healthcare, based on the “healthcare” annual expenditure for a person 65 and older, sourced from the third quarter 2017 through second quarter 2018 BLS Consumer Expenditure Survey; (5) annual cost of transportation, based on the “gasoline, other fuels and motor oil” and “other vehicle expenses” annual expenditures for a person 65 and older, sourced from the third quarter 2017 through second quarter 2018 BLS Consumer Expenditure Survey; and (6) annual cost of miscellaneous purchases, based on the “miscellaneous” annual expenditure for a person 65 and older, sourced from the third quarter 2017 through second quarter 2018 BLS Consumer Expenditure Survey. These costs were adjusted to each state’s cost of living using the MERIC indices.

Factors one through six were then combined to give the (7) total annual cost of living which was then factored out by 35 years (assuming a retirement age of 65) to give (8) 35 years total cost of living. Finally, GOBankingRates took factor eight and doubled it to determine (9) how much an individual would need saved to live comfortably to age 100. Cost of living totals did not account for inflation. This figure was used because according to the 50/30/20 budgeting rule one’s necessary cost of living should make up 50% of their expenses, thus one should have double saved up in order to “live comfortably”. Median household income from each state was gathered as supplemental data and sourced from the United States Census Bureau’s 2017 American Community Survey. All data was collected and is up to date as of Aug. 27, 2019.