06-11-2021, 12:16 PM
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Retiring early seems to be on everyone's minds these days. The growing popularity of the so-called FIRE movement -- short for financial independence, retire early -- is a testament to how much everyone seems to be craving a slice of "the easy life." The good news is that in many U.S. states, what most people would call an "early" retirement is within reach. Although "full retirement age" for Social Security purposes isn't until age 67, the average retirement age in every single state -- with the exception of the District of Columbia -- is below 67. On average, retirees in the U.S. hang up their work boots at age 64, according to Money Talks News.
Read More: Social Security Cost-of-Living Adjustments Aren’t Enough to Pay Higher Costs for Seniors
Find Out: Here’s Exactly How Much Savings You Need To Retire In Your State
Of course, to truly live a comfortable retirement takes more than desire -- it also takes a large chunk of cash.
If nothing else, this study proves two things. First, the state in which you live can play a big role in how early you can retire, as evidenced by the low average retirement ages across wide swaths of the South and Midwest. Next, it takes more than $1 million to have a comfortable retirement in any state in America -- or over $2 million in the case of Hawaii and the District of Columbia -- so it's important to work with a retirement advisor or the best 401(k) providers to help boost your savings as much as possible.
Check out when you can expect to retire, based on your state of residence.
Last updated: March 30, 2021
Birmingham, Alabama, USA downtown city skyline.
Alabama
- Average retirement age: 62
- Annual cost of a comfortable retirement: $49,099
- Retirement savings needed: $883,790
Alaska, USA - August 12, 2016: Downtown Juneau with flowers in the foreground with painted wooden storefront buildings and the Red Dog Saloon.
Alaska
- Average retirement age: 61
- Annual cost of a comfortable retirement: $79,249
- Retirement savings needed: $1,505,740
Tucson, Arizona, USA downtown skyline with Sentinel Peak at dusk.
Arizona
- Average retirement age: 63
- Annual cost of a comfortable retirement: $58,327
- Retirement savings needed: $991,560
Hot Springs, Arkansas, USA - May 23, 2014: Historic Bath House Row at sunrise.
Arkansas
- Average retirement age: 62
- Annual cost of a comfortable retirement: $47,836
- Retirement savings needed: $861,053
SAN FRANCISCO, CA -31 AUG 2017- The Chinatown neighborhood of San Francisco is the oldest Chinatown in the United States and the largest Chinese community outside Asia.
California
- Average retirement age: 64
- Annual cost of a comfortable retirement: $83,279
- Retirement savings needed: $1,332,457
Centennial Colorado aerial view
Colorado
- Average retirement age: 65
- Annual cost of a comfortable retirement: $60,357
- Retirement savings needed: $905,350
Hartford Connecticut in the fall
Connecticut
- Average retirement age: 65
- Annual cost of a comfortable retirement: $70,817
- Retirement savings needed: $1,062,257
State Capitol Building of Delaware.
Delaware
- Average retirement age: 63
- Annual cost of a comfortable retirement: $58,418
- Retirement savings needed: $993,101
Washington's city street and post office tower at sunrise, Washington, DC, USA.
District of Columbia
- Average retirement age: 67
- Annual cost of a comfortable retirement: $94,248
- Retirement savings needed: $1,225,222
Naples, Florida, USA downtown skyline at dusk.
Florida
- Average retirement age: 64
- Annual cost of a comfortable retirement: $56,382
- Retirement savings needed: $902,116
Helen, Georgia, USA - May 7, 2013: The square in the Appalachian town of Helen.
Georgia
- Average retirement age: 63
- Annual cost of a comfortable retirement: $50,066
- Retirement savings needed: $851,122
Palm tree silhouette at sunset, Hawaii, USA.
Hawaii
- Average retirement age: 66
- Annual cost of a comfortable retirement: $120,909
- Retirement savings needed: $1,692,722
City of Idaho Falls in Idaho State showing famous landmark church in autumn, USA.
Idaho
- Average retirement age: 64
- Annual cost of a comfortable retirement: $52,962
- Retirement savings needed: $847,388
Old State Capitol in Springfield, Illinois - Image.
Illinois
- Average retirement age: 64
- Annual cost of a comfortable retirement: $54,657
- Retirement savings needed: $874,507
Indianapolis, Indiana canal walk
Indiana
- Average retirement age: 63
- Annual cost of a comfortable retirement: $50,697
- Retirement savings needed: $861,848
Morning in Des Moines, Iowa.
Iowa
- Average retirement age: 65
- Annual cost of a comfortable retirement: $52,399
- Retirement savings needed: $785,982
Wichita, Kansas, USA - Augusst 31, 2018: The confluence of the Arkansas and Little Arkansas River at the Keeper of the Plains near downtown Wichita at dawn.
Kansas
- Average retirement age: 65
- Annual cost of a comfortable retirement: $50,223
- Retirement savings needed: $753,339
Frankfort, Kentucky, USA town skyline on the Kentucky River at dusk.
Kentucky
- Average retirement age: 62
- Annual cost of a comfortable retirement: $51,082
- Retirement savings needed: $919,469
The St.
Louisiana
- Average retirement age: 62
- Annual cost of a comfortable retirement: $52,695
- Retirement savings needed: $948,503
Dawn At The Burnt Island Lighthouse - Image.
Maine
- Average retirement age: 63
- Annual cost of a comfortable retirement: $66,752
- Retirement savings needed: $1,134,778
Annapolis Maryland capitol
Maryland
- Average retirement age: 65
- Annual cost of a comfortable retirement: $73,111
- Retirement savings needed: $1,096,666
Lobster Pot Restaurant in Province Town.
Massachusetts
- Average retirement age: 66
- Annual cost of a comfortable retirement: $77,122
- Retirement savings needed: $1,079,710
Capitol park in Detroit downtown Summer.
Michigan
- Average retirement age: 62
- Annual cost of a comfortable retirement: $51,356
- Retirement savings needed: $924,415
Minneapolis Minnesota cityscape view
Minnesota
- Average retirement age: 65
- Annual cost of a comfortable retirement: $56,869
- Retirement savings needed: $853,040
Biloxi, Mississippi, USA at Biloxi Lighthouse.
Mississippi
- Average retirement age: 63
- Annual cost of a comfortable retirement: $46,993
- Retirement savings needed: $798,874
Columbia, Missouri, USA downtown city skyline at twilight.
Missouri
- Average retirement age: 63
- Annual cost of a comfortable retirement: $50,247
- Retirement savings needed: $854,197
Barn near Helena Montana - Image.
Montana
- Average retirement age: 64
- Annual cost of a comfortable retirement: $55,711
- Retirement savings needed: $891,368
Downtown Omaha skyline with the Heartland of America Park (with a lake and fall colored trees) in the foreground.
Nebraska
- Average retirement age: 65
- Annual cost of a comfortable retirement: $52,439
- Retirement savings needed: $786,583
yacht
Nevada
- Average retirement age: 63
- Annual cost of a comfortable retirement: $63,300
- Retirement savings needed: $1,076,107
Laconia is a city in Belknap County, New Hampshire, United States.
New Hampshire
- Average retirement age: 65
- Annual cost of a comfortable retirement: $62,011
- Retirement savings needed: $930,159
Atlantic City, New Jersey, USA - September 22, 2013: People walking the Atlantic City Boardwalk in NJ on September 22, 2013.
New Jersey
- Average retirement age: 65
- Annual cost of a comfortable retirement: $67,764
- Retirement savings needed: $1,016,461
Old Town Albuquerque New Mexico
New Mexico
- Average retirement age: 62
- Annual cost of a comfortable retirement: $51,556
- Retirement savings needed: $928,181
Buffalo is the second largest city in the state of New York and the 81st most populous city in the United States.
New York
- Average retirement age: 64
- Annual cost of a comfortable retirement: $77,911
- Retirement savings needed: $1,246,578
The historic Market House in downtown Fayetteville, North Carolina was built in 1838.
North Carolina
- Average retirement age: 63
- Annual cost of a comfortable retirement: $54,687
- Retirement savings needed: $929,686
Fargo, North Dakota, USA - June 12, 2017: Daytime view of the Fargo Theatre along Broadway N in the Downtown Historic District.
North Dakota
- Average retirement age: 65
- Annual cost of a comfortable retirement: $57,060
- Retirement savings needed: $855,904
The Roebling Bridge in Cincinnati in the summer
Ohio
- Average retirement age: 63
- Annual cost of a comfortable retirement: $51,817
- Retirement savings needed: $880,889
Tulsa skyline with a park, pond, and fountains in the foreground.
Oklahoma
- Average retirement age: 62
- Annual cost of a comfortable retirement: $48,716
- Retirement savings needed: $876,879
The barn on my family ranch in Pendleton, Oregon at dusk.
Oregon
- Average retirement age: 63
- Annual cost of a comfortable retirement: $78,439
- Retirement savings needed: $1,333,467
View of Erie Pennsylvania from Dobbins Landing.
Pennsylvania
- Average retirement age: 64
- Annual cost of a comfortable retirement: $57,941
- Retirement savings needed: $927,056
Providence, Rhode Island, USA park and skyline.
Rhode Island
- Average retirement age: 65
- Annual cost of a comfortable retirement: $67,594
- Retirement savings needed: $1,013,904
Downtown Charleston, South Carolina in the early evening.
South Carolina
- Average retirement age: 63
- Annual cost of a comfortable retirement: $53,207
- Retirement savings needed: $904,527
Rapid City, South Dakota, USA - October 06, 2018: Street scene of downtown Rapid City with buildings and businesses.
South Dakota
- Average retirement age: 66
- Annual cost of a comfortable retirement: $56,178
- Retirement savings needed: $786,497
Tennessee
Tennessee
- Average retirement age: 64
- Annual cost of a comfortable retirement: $50,186
- Retirement savings needed: $802,977
Austin Texas USA sunrise skyline cityscape over Town Lake or Lady Bird Lake with amazing reflection.
Texas
- Average retirement age: 65
- Annual cost of a comfortable retirement: $52,341
- Retirement savings needed: $785,109
Diminishing perspective on a high-angle view of towers and streets in the centre of Utah's State Capital, Salt Lake City.
Utah
- Average retirement age: 65
- Annual cost of a comfortable retirement: $54,363
- Retirement savings needed: $815,449
The village of South Peacham nestled in the hill side of Vermont.
Vermont
- Average retirement age: 65
- Annual cost of a comfortable retirement: $67,651
- Retirement savings needed: $1,014,762
High angle view of Roanoke Virginia with famous church in the background -- St Andrews Catholic Church.
Virginia
- Average retirement age: 65
- Annual cost of a comfortable retirement: $58,120
- Retirement savings needed: $871,793
Seattle, Washington, USA - July 6, 2018: Pike Place Market or Public Market Center in summer season, Seattle, Washington, USA.
Washington
- Average retirement age: 64
- Annual cost of a comfortable retirement: $64,636
- Retirement savings needed: $1,034,174
West Virginia
West Virginia
- Average retirement age: 61
- Annual cost of a comfortable retirement: $49,439
- Retirement savings needed: $939,341
MADISON, WISCONSIN, USA - JULY 29, 2017.
Wisconsin
- Average retirement age: 64
- Annual cost of a comfortable retirement: $56,434
- Retirement savings needed: $902,942
downtown Jackson Hole Wyoming
Wyoming
- Average retirement age: 64
- Annual cost of a comfortable retirement: $52,330
- Retirement savings needed: $837,287
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