This Is the Minimum You Need Saved for Retirement in Every State 

It’s not surprising that the more expensive a state and its overall cost of living is, the more retirees will need to fund their retirement years.

GOBankingRates found out how much is needed to retire in every U.S. state — at minimum — by finding each state’s annual cost of expenditures for a retired person and multiplying age 65 (and older) expenditures by the cost-of-living index. From there, we divided each state’s annual expenditures (exempting annual Social Security income) by .04 and assumed drawing down savings by 4% each year to pay for living expenses.

Keep reading to see the minimum needed in savings for retirement in every state.

• Annual cost of living (total expenditures): $52,877
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $29,702
• How much savings you need to retire: $742,554

• Annual cost of living (total expenditures): $74,388
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $51,213
• How much savings you need to retire: $1,280,333

• Annual cost of living (total expenditures): $66,997
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $43,823
• How much savings you need to retire: $1,095,565

• Annual cost of living (total expenditures): $53,297
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $30,123
• How much savings you need to retire: $753,069

• Annual cost of living (total expenditures): $87,006
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $63,832
• How much savings you need to retire: $1,595,789

• Annual cost of living (total expenditures): $61,289
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $38,114
• How much savings you need to retire: $952,859

• Annual cost of living (total expenditures): $67,478
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $44,303
• How much savings you need to retire: $1,107,583

• Annual cost of living (total expenditures): $60,568
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $37,393
• How much savings you need to retire: $934,832

• Annual cost of living (total expenditures): $61,769
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $38,595
• How much savings you need to retire: $964,876

• Annual cost of living (total expenditures): $54,859
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $31,685
• How much savings you need to retire: $792,126

• Annual cost of living (total expenditures): $112,303
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $89,128
• How much savings you need to retire: $2,228,205

• Annual cost of living (total expenditures): $61,289
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $38,114
• How much savings you need to retire: $952,859

• Annual cost of living (total expenditures): $56,722
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $33,548
• How much savings you need to retire: $838,693

• Annual cost of living (total expenditures): $54,379
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $31,204
• How much savings you need to retire: $780,108

• Annual cost of living (total expenditures): $53,898
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $30,724
• How much savings you need to retire: $768,091

• Annual cost of living (total expenditures): $52,276
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $29,101
• How much savings you need to retire: $727,532

• Annual cost of living (total expenditures): $55,881
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $32,707
• How much savings you need to retire: $817,663

• Annual cost of living (total expenditures): $55,400
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $32,226
• How much savings you need to retire: $805,645

• Annual cost of living (total expenditures): $67,358
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $44,183
• How much savings you need to retire: $1,104,578

• Annual cost of living (total expenditures): $69,280
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $46,106
• How much savings you need to retire: $1,152,648

• Annual cost of living (total expenditures): $87,667
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $64,493
• How much savings you need to retire: $1,612,313

• Annual cost of living (total expenditures): $54,319
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $31,144
• How much savings you need to retire: $778,606

• Annual cost of living (total expenditures): $57,143
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $33,968
• How much savings you need to retire: $849,208

• Annual cost of living (total expenditures): $52,816
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $29,642
• How much savings you need to retire: $741,052

• Annual cost of living (total expenditures): $53,297
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $30,123
• How much savings you need to retire: $753,069

• Annual cost of living (total expenditures): $57,023
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $33,848
• How much savings you need to retire: $846,204

• Annual cost of living (total expenditures): $55,941
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $32,767
• How much savings you need to retire: $819,165

• Annual cost of living (total expenditures): $60,868
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $37,694
• How much savings you need to retire: $942,343

• Annual cost of living (total expenditures): $67,658
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $44,484
• How much savings you need to retire: $1,112,089

• Annual cost of living (total expenditures): $68,860
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $45,685
• How much savings you need to retire: $1,142,133

• Annual cost of living (total expenditures): $56,061
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $32,887
• How much savings you need to retire: $822,169

• Annual cost of living (total expenditures): $74,087
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $50,913
• How much savings you need to retire: $1,272,822

• Annual cost of living (total expenditures): $58,765
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $35,591
• How much savings you need to retire: $889,767

• Annual cost of living (total expenditures): $55,220
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $32,046
• How much savings you need to retire: $801,139

• Annual cost of living (total expenditures): $56,602
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $33,428
• How much savings you need to retire: $835,689

• Annual cost of living (total expenditures): $51,495
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $28,320
• How much savings you need to retire: $708,004

• Annual cost of living (total expenditures): $67,297
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $44,123
• How much savings you need to retire: $1,103,076

• Annual cost of living (total expenditures): $57,143
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $33,968
• How much savings you need to retire: $849,208

• Annual cost of living (total expenditures): $67,418
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $44,243
• How much savings you need to retire: $1,106,080

• Annual cost of living (total expenditures): $57,623
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $34,449
• How much savings you need to retire: $861,226

• Annual cost of living (total expenditures): $55,400
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $32,226
• How much savings you need to retire: $805,645

• Annual cost of living (total expenditures): $54,379
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $31,204
• How much savings you need to retire: $780,108

• Annual cost of living (total expenditures): $55,701
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $32,526
• How much savings you need to retire: $813,156

• Annual cost of living (total expenditures): $63,031
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $39,857
• How much savings you need to retire: $996,422

• Annual cost of living (total expenditures): $68,740
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $45,565
• How much savings you need to retire: $1,139,128

• Annual cost of living (total expenditures): $60,508
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $37,333
• How much savings you need to retire: $933,330

• Annual cost of living (total expenditures): $68,619
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $45,445
• How much savings you need to retire: $1,136,124

• Annual cost of living (total expenditures): $50,533
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $27,359
• How much savings you need to retire: $683,969

• Annual cost of living (total expenditures): $58,284
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $35,110
• How much savings you need to retire: $877,750

• Annual cost of living (total expenditures): $57,383
• Annual Social Security income: $23,174
• Annual expenditures (after Social Security): $34,209
• How much savings you need to retire: $855,217

Methodology: In order to find out exactly how much you need to retire in your state, GOBankingRates found the annual cost of expenditures for a retired person in each state by multiplying the 65-year-and-older expenditures from the Bureau of Labor Statistics’ 2023 Consumer Expenditure Survey by the cost-of-living index for each state from the Missouri Economic Research and Information Center’s 2024 cost-of-living 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, February 2025, by .04, assuming drawing down savings by 4% each year to pay for living expenses. All data was collected and is up to date as of April 17, 2025.