Want a Good Retirement in the West? Here’s the Money You Should Save Monthly

A comfortable retirement is considered one that costs about double what a bare-necessity living requires.

For example, the average cost of living if you just want to get by in California is around $6,800 per month (including mortgage). But if you actually want to enjoy life and retire comfortably, GOBankingRates calculates that you would need more like $13,500 per month.

That is the second-highest amount needed in America, behind Hawaii. The Western states, in general, are not cheap. New Mexico is the cheapest in the West — and it is still more expensive than 19 other states.

So the big question we want to answer here is: How much do you have to save each month to retire comfortably in the Western U.S.?

GOBankingRates used data from multiple sources to calculate it out, reducing the amount needed by adding in average projected Social Security. This is the amount you need to save monthly, including investment gains, in order to retire comfortably in each Western state.

• Annual cost of a comfortable living: $113,674
• Cost of 20 years of comfortable retirement: $1,373,083

How much you need to save monthly for 20 years of comfortable retirement (through age 85):

• If you start at age 20: $2,543
• If you start at age 30: $3,269

• Annual cost of a comfortable living: $104,930
• Cost of 20 years of comfortable retirement: $1,198,203

How much you need to save monthly for 20 years of comfortable retirement (through age 85):

• If you start at age 20: $2,219
• If you start at age 30: $2,853

• Annual cost of a comfortable living: $162,045
• Cost of 20 years of comfortable retirement: $2,340,510

How much you need to save monthly for 20 years of comfortable retirement (through age 85):

• If you start at age 20: $4,334
• If you start at age 30: $5,573

• Annual cost of a comfortable living: $120,778
• Cost of 20 years of comfortable retirement: $1,515,171

How much you need to save monthly for 20 years of comfortable retirement (through age 85):

• If you start at age 20: $2,806
• If you start at age 30: $3,608

• Annual cost of a comfortable living: $200,289
• Cost of 20 years of comfortable retirement: $3,105,384

How much you need to save monthly for 20 years of comfortable retirement (through age 85):

• If you start at age 20: $5,751
• If you start at age 30: $7,394

• Annual cost of a comfortable living: $106,893
• Cost of 20 years of comfortable retirement: $1,237,471

How much you need to save monthly for 20 years of comfortable retirement (through age 85):

• If you start at age 20: $2,292
• If you start at age 30: $2,946

• Annual cost of a comfortable living: $107,035
• Cost of 20 years of comfortable retirement: $1,240,305

How much you need to save monthly for 20 years of comfortable retirement (through age 85):

• If you start at age 20: $2,297
• If you start at age 30: $2,953

• Annual cost of a comfortable living: $106,716
• Cost of 20 years of comfortable retirement: $1,233,930

How much you need to save monthly for 20 years of comfortable retirement (through age 85):

• If you start at age 20: $2,285
• If you start at age 30: $2,938

• Annual cost of a comfortable living: $85,305
• Cost of 20 years of comfortable retirement: $805,701

How much you need to save monthly for 20 years of comfortable retirement (through age 85):

• If you start at age 20: $1,492
• If you start at age 30: $1,918

• Annual cost of a comfortable living: $116,724
• Cost of 20 years of comfortable retirement: $1,434,094

How much you need to save monthly for 20 years of comfortable retirement (through age 85):

• If you start at age 20: $2,656
• If you start at age 30: $3,415

• Annual cost of a comfortable living: $117,038
• Cost of 20 years of comfortable retirement: $1,440,357

How much you need to save monthly for 20 years of comfortable retirement (through age 85):

• If you start at age 20: $2,667
• If you start at age 30: $3,429

• Annual cost of a comfortable living: $132,485
• Cost of 20 years of comfortable retirement: $1,749,300

How much you need to save monthly for 20 years of comfortable retirement (through age 85):

• If you start at age 20: $3,239
• If you start at age 30: $4,165

• Annual cost of a comfortable living: $92,488
• Cost of 20 years of comfortable retirement: $949,365

How much you need to save monthly for 20 years of comfortable retirement (through age 85):

• If you start at age 20: $1,758
• If you start at age 30: $2,260

Methodology: For this study, GOBankingRates analyzed each state to find the amount you need to save monthly in order to retire comfortably. GOBankingRates used data from the U.S. Census American Community Survey, Missouri Economic and Research Information Center, Bureau of Labor Statistics Consumer Expenditure Survey, Zillow, the Federal Reserve Economic Data and the Social Security Administration. 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.