People Live Longest in These 11 States: How Much You Need Saved for Retirement

Nationwide, the CDC reports an average life expectancy at birth of 77.5 years. However, Americans live longer in some states than others. And retirees who live longer need more saved for retirement, to cover those extra years of living expenses. 

So how much more do residents of the highest-longevity states need saved for retirement?

We started by calculating the extra longevity above the national average for each of these top ten states. Then, we multiplied those extra years by the average annual living expenses in that state, to come up with a “longevity premium”: the extra amount the average resident of that state pays for their longer retirement, compared to the national average. 

To keep this all in perspective, retirees in every state may still do fine with the classic 4% Rule. It was originally calculated to allow for a minimum of a 30-year retirement, which is far longer than most people who retire at 65 need — even those in longer-lived states. 

Without further ado, enjoy the average retirement numbers for longevity in these states.

Also check out what retirees should stop investing in to boost their retirement savings.  

• Life Expectancy: 80.7 years
• Longevity Over Average: 3.2 years
• Average Annual Cost of Living: $131,560
• Longevity Premium: $420,992

Hawaii combines low obesity rates with strong healthcare and a laid-back culture that prizes a healthy lifestyle. In other words, it makes a perfect brew for longer life spans. 

Unfortunately, living there also costs an arm and a leg, as it is the most expensive state in the US (by a lot). 

• Life Expectancy: 79.2 years
• Longevity Over Average: 1.7 years
• Average Annual Cost of Living: $84,642
• Longevity Premium: $143,891

Washington too enjoys a reputation for a healthy lifestyle and strong healthcare. It ranks seventh in the country for high cost of living however.

That combination means residents need a larger nest egg than in most states.

• Life Expectancy: 79.1 years
• Longevity Over Average: 1.6 years
• Average Annual Cost of Living: $68,662
• Longevity Premium: $109,859

Minnesota ranks 30th for cost of living, making it one of the few states on this list with a below-average cost of living. 

Still, longer life expectancy means Minnesota residents spend more in retirement than their neighbors in shorter-lived states.

• Life Expectancy: 79.0 years
• Longevity Over Average: 1.5 years
• Average Annual Cost of Living: $83,255
• Longevity Premium: $124,883

The famously self-reliant natives of New Hampshire live longer than most Americans. But they also spend more to live there, with the state ranking tenth in the country for cost of living. 

• Life Expectancy: 79.0 years
• Longevity Over Average: 1.5 years
• Average Annual Cost of Living: $106,897
• Longevity Premium: $160,346

Massachusetts residents also live a year and a half longer than the national average. The abundance of high-quality healthcare doesn’t hurt. 

Unfortunately for them, they rank second in the nation for cost of living. 

• Life Expectancy: 79.0 years
• Longevity Over Average: 1.5 years
• Average Annual Cost of Living: $101,059
• Longevity Premium: $151,589

The laid-back reputation of California’s culture couldn’t hurt longevity. However, California is equally famous for its high cost of living, especially along the coast where most residents live. 

The Golden State ranks third in the nation for cost of living, so the extra year and a half of living expenses don’t come cheap. 

• Life Expectancy: 78.8 years
• Longevity Over Average: 1.3 years
• Average Annual Cost of Living: $84,131
• Longevity Premium: $109,370

Vermont too enjoys a reputation for a relaxed, healthy style. Like most other states on this list, however, living there also costs a pretty penny.

Vermont ranks eighth in the nation for cost of living.

• Life Expectancy: 78.8 years
• Longevity Over Average: 1.3 years
• Average Annual Cost of Living: $83,693
• Longevity Premium: $108,801

Similar to its neighbors to the north and south, Oregon residents live longer than average — and pay more to live there. The state falls just behind Vermont, not just in longevity but also in cost of living, ranking ninth in the nation. 

• Life Expectancy: 78.6 years
• Longevity Over Average: 1.1 years
• Average Annual Cost of Living: $75,302
• Longevity Premium: $82,832

Rugged Utah residents must be doing something right, because they live longer than most Americans and it doesn’t cost much more than average to live there. The state ranks 17th for cost of living.

• Life Expectancy: 78.4 years
• Longevity Over Average: 0.9 years
• Average Annual Cost of Living: $71,945
• Longevity Premium: $64,751

Another Northwestern state to make the top ten list, Idaho residents don’t pay an outrageous premium to live there. The state ranks 23rd for cost of living, making it the cheapest state on this list for the longevity premium. 

• Life Expectancy: 78.4 years
• Longevity Over Average: 0.9 years
• Average Annual Cost of Living: $82,307
• Longevity Premium: $74,076

Technically, this top-ten list has 11 entries because Connecticut tied for tenth with Idaho. Living in this small New England state costs more, which ranks 12th in the country in terms of cost of living.