Retiring for 25 Years? How Much You Need To Save in Your State If You Start at Age 25

Worried about whether you’ll have enough in retirement savings and Social Security benefits to support a comfortable, quarter-century retirement? Concerned your dream location to live out your golden years might be too expensive in the long run to support your golden years?

Recently, GOBankingRates built out a projection of retirement affordability — taking into account such factors as the average yearly Social Security benefits for a single person ($22,510), cost of living in each state and more — to calculate just how much a 25-year retirement would cost if you began saving by the age of 25 and eventually began receiving Social Security benefits upon retirement. Not only that, but GOBankingRates also calculated just how much you’d need to save each month when living in each particular state.

Want to know if you can afford your dream retirement state? Read on.

Also see how much it costs to retire for 30 years in every state.

• Annual cost of a comfortable living: $73,678
• Cost of 25 years of comfortable retirement with Social Security: $716,454
• How much you need to save monthly if you start at 25: $1,493

• Annual cost of a comfortable living: $113,674
• Cost of 25 years of comfortable retirement with Social Security: $1,716,354
• How much you need to save monthly if you start at 25: $3,576

• Annual cost of a comfortable living: $104,930
• Cost of 25 years of comfortable retirement with Social Security: $1,497,753
• How much you need to save monthly if you start at 25: $3,120

• Annual cost of a comfortable living: $69,517
• Cost of 25 years of comfortable retirement with Social Security: $612,421
• How much you need to save monthly if you start at 25: $1,276

• Annual cost of a comfortable living: $162,045
• Cost of 25 years of comfortable retirement with Social Security: $2,925,637
• How much you need to save monthly if you start at 25: $6,095

• Annual cost of a comfortable living: $120,778
• Cost of 25 years of comfortable retirement with Social Security: $1,893,963
• How much you need to save monthly if you start at 25: $3,946

• Annual cost of a comfortable living: $110,596
• Cost of 25 years of comfortable retirement with Social Security: $1,639,413
• How much you need to save monthly if you start at 25: $3,415

• Annual cost of a comfortable living: $98,685
• Cost of 25 years of comfortable retirement with Social Security: $1,341,643
• How much you need to save monthly if you start at 25: $2,795

• Annual cost of a comfortable living: $101,626
• Cost of 25 years of comfortable retirement with Social Security: $1,415,148
• How much you need to save monthly if you start at 25: $2,948

• Annual cost of a comfortable living: $89,501
• Cost of 25 years of comfortable retirement with Social Security: $1,112,039
• How much you need to save monthly if you start at 25: $2,317

• Annual cost of a comfortable living: $200,289
• Cost of 25 years of comfortable retirement with Social Security: $3,881,730
• How much you need to save monthly if you start at 25: $8,087

• Annual cost of a comfortable living: $106,893
• Cost of 25 years of comfortable retirement with Social Security: $1,546,839
• How much you need to save monthly if you start at 25: $3,223

• Annual cost of a comfortable living: $83,406
• Cost of 25 years of comfortable retirement with Social Security: $959,668
• How much you need to save monthly if you start at 25: $1,999

• Annual cost of a comfortable living: $77,613
• Cost of 25 years of comfortable retirement with Social Security: $814,822
• How much you need to save monthly if you start at 25: $1,698

• Annual cost of a comfortable living: $74,527
• Cost of 25 years of comfortable retirement with Social Security: $737,684
• How much you need to save monthly if you start at 25: $1,537

• Annual cost of a comfortable living: $74,293
• Cost of 25 years of comfortable retirement with Social Security: $731,831
• How much you need to save monthly if you start at 25: $1,525

• Annual cost of a comfortable living: $72,899
• Cost of 25 years of comfortable retirement with Social Security: $696,971
• How much you need to save monthly if you start at 25: $1,452

• Annual cost of a comfortable living: $69,971
• Cost of 25 years of comfortable retirement with Social Security: $623,775
• How much you need to save monthly if you start at 25: $1,300

• Annual cost of a comfortable living: $104,397
• Cost of 25 years of comfortable retirement with Social Security: $1,484,431
• How much you need to save monthly if you start at 25: $3,093

• Annual cost of a comfortable living: $105,060
• Cost of 25 years of comfortable retirement with Social Security: $1,501,004
• How much you need to save monthly if you start at 25: $3,127

• Annual cost of a comfortable living: $143,885
• Cost of 25 years of comfortable retirement with Social Security: $2,471,637
• How much you need to save monthly if you start at 25: $5,149

• Annual cost of a comfortable living: $77,275
• Cost of 25 years of comfortable retirement with Social Security: $806,381
• How much you need to save monthly if you start at 25: $1,680

• Annual cost of a comfortable living: $92,599
• Cost of 25 years of comfortable retirement with Social Security: $1,189,491
• How much you need to save monthly if you start at 25: $2,478

• Annual cost of a comfortable living: $67,151
• Cost of 25 years of comfortable retirement with Social Security: $553,275
• How much you need to save monthly if you start at 25: $1,153

• Annual cost of a comfortable living: $76,431
• Cost of 25 years of comfortable retirement with Social Security: $785,273
• How much you need to save monthly if you start at 25: $1,636

• Annual cost of a comfortable living: $107,035
• Cost of 25 years of comfortable retirement with Social Security: $1,550,381
• How much you need to save monthly if you start at 25: $3,230

• Annual cost of a comfortable living: $79,958
• Cost of 25 years of comfortable retirement with Social Security: $873,447
• How much you need to save monthly if you start at 25: $1,820

Also See: 6 Things Frugal Boomers Never Buy

• Annual cost of a comfortable living: $106,716
• Cost of 25 years of comfortable retirement with Social Security: $1,542,412
• How much you need to save monthly if you start at 25: $3,213

• Annual cost of a comfortable living: $118,035
• Cost of 25 years of comfortable retirement with Social Security: $1,825,371
• How much you need to save monthly if you start at 25: $3,803

• Annual cost of a comfortable living: $123,370
• Cost of 25 years of comfortable retirement with Social Security: $1,958,761
• How much you need to save monthly if you start at 25: $4,081

• Annual cost of a comfortable living: $85,305
• Cost of 25 years of comfortable retirement with Social Security: $1,007,127
• How much you need to save monthly if you start at 25: $2,098

• Annual cost of a comfortable living: $111,328
• Cost of 25 years of comfortable retirement with Social Security: $1,657,703
• How much you need to save monthly if you start at 25: $3,454

• Annual cost of a comfortable living: $90,206
• Cost of 25 years of comfortable retirement with Social Security: $1,129,658
• How much you need to save monthly if you start at 25: $2,353

• Annual cost of a comfortable living: $80935
• Cost of 25 years of comfortable retirement with Social Security: $897,884
• How much you need to save monthly if you start at 25: $1,871

• Annual cost of a comfortable living: $76,058
• Cost of 25 years of comfortable retirement with Social Security: $775,961
• How much you need to save monthly if you start at 25: $1,617

• Annual cost of a comfortable living: $72,010
• Cost of 25 years of comfortable retirement with Social Security: $674,765
• How much you need to save monthly if you start at 25: $1,406

• Annual cost of a comfortable living: $116,724
• Cost of 25 years of comfortable retirement with Social Security: $1,792,618
• How much you need to save monthly if you start at 25: $3,735

• Annual cost of a comfortable living: $81,739
• Cost of 25 years of comfortable retirement with Social Security: $917,972
• How much you need to save monthly if you start at 25: $1,912

• Annual cost of a comfortable living: $115,926
• Cost of 25 years of comfortable retirement with Social Security: $1,772,667
• How much you need to save monthly if you start at 25: $3,693

• Annual cost of a comfortable living: $84,702
• Cost of 25 years of comfortable retirement with Social Security: $992,057
• How much you need to save monthly if you start at 25: $2,067

• Annual cost of a comfortable living: $85,827
• Cost of 25 years of comfortable retirement with Social Security: $1,020,189
• How much you need to save monthly if you start at 25: $2,125

• Annual cost of a comfortable living: $84,451
• Cost of 25 years of comfortable retirement with Social Security: $985,788
• How much you need to save monthly if you start at 25: $2,054

• Annual cost of a comfortable living: $85,459
• Cost of 25 years of comfortable retirement with Social Security: $1,010,973
• How much you need to save monthly if you start at 25: $2,106

• Annual cost of a comfortable living: $117,038
• Cost of 25 years of comfortable retirement with Social Security: $1,800,446
• How much you need to save monthly if you start at 25: $3,751

• Annual cost of a comfortable living: $103,361
• Cost of 25 years of comfortable retirement with Social Security: $1,458,528
• How much you need to save monthly if you start at 25: $3,039

• Annual cost of a comfortable living: $100,213
• Cost of 25 years of comfortable retirement with Social Security: $1,379,839
• How much you need to save monthly if you start at 25: $2,875

• Annual cost of a comfortable living: $132,485
• Cost of 25 years of comfortable retirement with Social Security: $2,186,624
• How much you need to save monthly if you start at 25: $4,555

• Annual cost of a comfortable living: $66,745
• Cost of 25 years of comfortable retirement with Social Security: $543,126
• How much you need to save monthly if you start at 25: $1,132

• Annual cost of a comfortable living: $87,554
• Cost of 25 years of comfortable retirement with Social Security: $1,063,368
• How much you need to save monthly if you start at 25: $2,215

• Annual cost of a comfortable living: $92,488
• Cost of 25 years of comfortable retirement with Social Security: $1,186,706
• How much you need to save monthly if you start at 25: $2,472

Methodology: For this study, GOBankingRates analyzed each state to find the amount you need to save monthly in order to retire comfortably. First, GOBankingRates found each state’s total population, population ages 65 and over, total households and household median income, all sourced from the U.S. Census American Community Survey. Using this data, the percentage of the population ages 65 and over was calculated. The cost-of-living indexes were sourced from the Missouri Economic and Research Information Center and include the grocery, healthcare, housing, utilities, transportation and miscellaneous cost-of-living indexes. Using the cost-of-living indexes for grocery, healthcare, utilities, transportation and miscellaneous, as well as the national average expenditure costs, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey, the average expenditure cost for each state was calculated. The average single-family home value was sourced from Zillow Home Value Index for October 2024. Using the average single-family home value, assuming a 10% down payment, and using the most recent national average 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data, the average mortgage was calculated. Using the average mortgage and average expenditure costs, the average total monthly and annual cost of living were calculated. Using the 50/30/20 rule that states that needs should not exceed 50% of household income, the total cost of living was doubled in order to find the amount needed to live comfortably. The average Social Security benefits were sourced from the Social Security Administration for each state. Using the average Social Security benefits as well as the total cost of living comfortably, the amount needed to live comfortably after Social Security benefits can be calculated. A variety of ages were used to calculate savings; started saving at 20, 25 and 30, the age of retirement is 65, and the life expectancy is 80, 85 and 90 years old. The amount needed before and after Social Security benefits was calculated for each age of starting savings and each age of life expectancy. All data was collected on and is up to date as of Nov. 15, 2024.