In This State-by-State Breakdown, See What Retirement Savings Are Needed Across the U.S.

A recent survey that polled adults at the end of March 2025 found 41% admitting, “they won’t be able to support the retirement lifestyle they envisioned.” The oftentimes chaotic stock markets since President Trump took office in 2025 have caused Americans’ 401k plans to shrink. (Want to retire outside of the country? Check out the nine countries that are popular among American retirees.)

Americans are experiencing growing concerns about their financial security in retirement. The average American can expect to spend over $1 million after leaving the workforce at age 65. According to the CDC, the American life expectancy is 77.5 years of age. (Also see how record numbers of retirees are swamping the economy.)

24/7 Wall St. calculated the estimated average expenditures throughout retirement in each state by using the latest data from the Bureau of Labor Statistics, the Bureau of Economic Analysis, and the National Center for Health Statistics. We’ve ranked each state by the total estimated retirement spending for retirees after age 65. Our calculations are based on averages, and for those seeking greater economic security in their golden years, we also included estimated retirement spending with a 15% financial cushion. With this 15% buffer, estimated retirement spending ranges from $1.2 million to more than $2 million, depending on the state. We have updated the data below to show the average home value in each state in 2025 based on the Zillow Home Values Index.

(This article was updated on May 10, 2025, to reflect Americans’ growing concerns regarding the state of the economy.)

Why It Matters Now

Based on spending patterns and estimated life expectancy, a typical American can expect to spend over $1 million after age 65. While retirees do not need to have that amount in savings, as Social Security payments can ease the financial burden of retirement, government benefits alone are not enough for a comfortable and financially secure retirement. Furthermore, retirement costs are not equal across the country, and older Americans on tighter budgets can significantly reduce expenses by residing in states with a lower cost of living.

This is how much it costs to retire in every state:

50. Mississippi

Total estimated retirement spending: $1,049,656 ($1,207,104 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $52,451 (cost of living adjusted)
Est. life expectancy at age 65: 81.1 years old (2nd lowest of 50 states)
Avg. cost of living: 12.7% lower than avg. (2nd lowest of 50 states)
Average home value in 2025: $181,232 (+3.6% in the past year)
Median income for 65 & older households: $41,013 (the lowest of 50 states)
65 and older population: 510,627 (22.9% of 18 and older pop.)

49. Oklahoma

Total estimated retirement spending: $1,061,609 ($1,220,850 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $53,048 (cost of living adjusted)
Est. life expectancy at age 65: 81.4 years old (5th lowest of 50 states)
Avg. cost of living: 11.7% lower than avg. (4th lowest of 50 states)
Average home value in 2025: $208,281 (+3.3% in the past year)
Median income for 65 & older households: $47,259 (7th lowest of 50 states)
65 and older population: 653,664 (22.3% of 18 and older pop.)

48. West Virginia

Total estimated retirement spending: $1,079,477 ($1,241,399 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $53,941 (cost of living adjusted)
Est. life expectancy at age 65: 81.1 years old (2nd lowest of 50 states)
Avg. cost of living: 10.2% lower than avg. (8th lowest of 50 states)
Average home value in 2025: $167,589 (+6.4% in the past year)
Median income for 65 & older households: $41,438 (2nd lowest of 50 states)
65 and older population: 375,264 (26.6% of 18 and older pop.)

47. Alabama

Total estimated retirement spending: $1,081,858 ($1,244,137 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $54,060 (cost of living adjusted)
Est. life expectancy at age 65: 81.4 years old (5th lowest of 50 states)
Avg. cost of living: 10.0% lower than avg. (10th lowest of 50 states)
Average home value in 2025: $228,669 (+2.2% in the past year)
Median income for 65 & older households: $47,114 (6th lowest of 50 states)
65 and older population: 907,882 (23.5% of 18 and older pop.)

46. Kentucky

Total estimated retirement spending: $1,087,846 ($1,251,023 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $54,360 (cost of living adjusted)
Est. life expectancy at age 65: 81.4 years old (5th lowest of 50 states)
Avg. cost of living: 9.5% lower than avg. (14th lowest of 50 states)
Average home value in 2025: $217,447 (+7.1% in the past year)
Median income for 65 & older households: $43,927 (5th lowest of 50 states)
65 and older population: 787,176 (23.0% of 18 and older pop.)

45. Arkansas

Total estimated retirement spending: $1,113,013 ($1,279,965 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $51,980 (cost of living adjusted)
Est. life expectancy at age 65: 81.6 years old (7th lowest of 50 states)
Avg. cost of living: 13.5% lower than avg. (the lowest of 50 states)
Average home value in 2025: $210,633 (+3.3% in the past year)
Median income for 65 & older households: $42,943 (4th lowest of 50 states)
65 and older population: 534,187 (23.6% of 18 and older pop.)

44. Louisiana

Total estimated retirement spending: $1,136,648 ($1,307,145 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $53,084 (cost of living adjusted)
Est. life expectancy at age 65: 81.8 years old (8th lowest of 50 states)
Avg. cost of living: 11.7% lower than avg. (5th lowest of 50 states)
Average home value in 2025: $201,100 (+0.4% in the past year)
Median income for 65 & older households: $42,215 (3rd lowest of 50 states)
65 and older population: 774,581 (22.5% of 18 and older pop.)

43. Ohio

Total estimated retirement spending: $1,181,255 ($1,358,443 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $55,167 (cost of living adjusted)
Est. life expectancy at age 65: 82.3 years old (11th lowest of 50 states)
Avg. cost of living: 8.2% lower than avg. (18th lowest of 50 states)
Average home value in 2025: $234,906 (+5.5% in the past year)
Median income for 65 & older households: $49,081 (12th lowest of 50 states)
65 and older population: 2,150,228 (24.0% of 18 and older pop.)

42. Indiana

Total estimated retirement spending: $1,186,041 ($1,363,947 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $55,391 (cost of living adjusted)
Est. life expectancy at age 65: 82.3 years old (11th lowest of 50 states)
Avg. cost of living: 7.8% lower than avg. (19th lowest of 50 states)
Average home value in 2025: $244,855 (+4.7% in the past year)
Median income for 65 & older households: $48,309 (10th lowest of 50 states)
65 and older population: 1,145,300 (22.7% of 18 and older pop.)

41. Tennessee

Total estimated retirement spending: $1,190,299 ($1,368,844 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $55,589 (cost of living adjusted)
Est. life expectancy at age 65: 81.6 years old (7th lowest of 50 states)
Avg. cost of living: 7.5% lower than avg. (20th lowest of 50 states)
Average home value in 2025: $319,167 (+3.0% in the past year)
Median income for 65 & older households: $48,478 (11th lowest of 50 states)
65 and older population: 1,207,948 (22.7% of 18 and older pop.)

40. South Carolina

Total estimated retirement spending: $1,198,817 ($1,378,639 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $55,987 (cost of living adjusted)
Est. life expectancy at age 65: 82.4 years old (12th lowest of 50 states)
Avg. cost of living: 6.8% lower than avg. (22nd lowest of 50 states)
Average home value in 2025: $298,029 (+1.5% in the past year)
Median income for 65 & older households: $50,287 (16th lowest of 50 states)
65 and older population: 998,167 (24.7% of 18 and older pop.)

39. Kansas

Total estimated retirement spending: $1,234,698 ($1,419,903 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $54,057 (cost of living adjusted)
Est. life expectancy at age 65: 83.0 years old (20th lowest of 50 states)
Avg. cost of living: 10.0% lower than avg. (9th lowest of 50 states)
Average home value in 2025: $230,884 (+5.6% in the past year)
Median income for 65 & older households: $52,203 (25th lowest of 50 states)
65 and older population: 499,746 (23.4% of 18 and older pop.)

38. Montana

Total estimated retirement spending: $1,238,527 ($1,424,306 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $54,225 (cost of living adjusted)
Est. life expectancy at age 65: 83.4 years old (25th highest of 50 states)
Avg. cost of living: 9.8% lower than avg. (11th lowest of 50 states)
Average home value in 2025: $459,370 (+3.0% in the past year)
Median income for 65 & older households: $48,165 (8th lowest of 50 states)
65 and older population: 224,418 (25.6% of 18 and older pop.)

37. New Mexico

Total estimated retirement spending: $1,240,476 ($1,426,548 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $54,310 (cost of living adjusted)
Est. life expectancy at age 65: 83.3 years old (24th lowest of 50 states)
Avg. cost of living: 9.6% lower than avg. (13th lowest of 50 states)
Average home value in 2025: $308,031 (+3.4% in the past year)
Median income for 65 & older households: $50,240 (15th lowest of 50 states)
65 and older population: 393,944 (25.4% of 18 and older pop.)

36. Georgia

Georgia | Forsyth Park in Savannah, Georgia

Total estimated retirement spending: $1,244,131 ($1,430,751 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $58,104 (cost of living adjusted)
Est. life expectancy at age 65: 82.1 years old (9th lowest of 50 states)
Avg. cost of living: 3.3% lower than avg. (24th highest of 50 states)
Average home value in 2025: $329,110 (+0.3% in the past year)
Median income for 65 & older households: $51,664 (20th lowest of 50 states)
65 and older population: 1,609,186 (20.4% of 18 and older pop.)

35. Wyoming

Total estimated retirement spending: $1,246,817 ($1,433,839 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $54,588 (cost of living adjusted)
Est. life expectancy at age 65: 82.8 years old (17th lowest of 50 states)
Avg. cost of living: 9.2% lower than avg. (15th lowest of 50 states)
Average home value in 2025: $357,698 (+5.9% in the past year)
Median income for 65 & older households: $53,229 (23rd highest of 50 states)
65 and older population: 107,482 (24.3% of 18 and older pop.)

34. Idaho

Blue night sky over Boise Idaho with moon by Knowles Gallery

Blue night sky over Boise Idaho with moon (BY 2.0) by Knowles Gallery

Total estimated retirement spending: $1,254,736 ($1,442,946 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $54,935 (cost of living adjusted)
Est. life expectancy at age 65: 83.4 years old (25th highest of 50 states)
Avg. cost of living: 8.6% lower than avg. (16th lowest of 50 states)
Average home value in 2025: $462,014 (+2.4% in the past year)
Median income for 65 & older households: $52,132 (24th lowest of 50 states)
65 and older population: 325,721 (23.0% of 18 and older pop.)

33. Missouri

Gateway Arch - St. Louis - Missouri by Arch_Sam

Gateway Arch - St. Louis - Missouri (BY 2.0) by Arch_Sam

Total estimated retirement spending: $1,259,361 ($1,448,265 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $55,137 (cost of living adjusted)
Est. life expectancy at age 65: 82.6 years old (15th lowest of 50 states)
Avg. cost of living: 8.2% lower than avg. (17th lowest of 50 states)
Average home value in 2025: $251,663 (+3.8% in the past year)
Median income for 65 & older households: $48,298 (9th lowest of 50 states)
65 and older population: 1,105,780 (23.5% of 18 and older pop.)

32. South Dakota

Panorama of Rapid City, South Dakota, USA

Total estimated retirement spending: $1,286,148 ($1,479,071 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $52,934 (cost of living adjusted)
Est. life expectancy at age 65: 84.2 years old (9th highest of 50 states)
Avg. cost of living: 11.9% lower than avg. (3rd lowest of 50 states)
Average home value in 2025: $308,842 (+3.3% in the past year)
Median income for 65 & older households: $50,665 (18th lowest of 50 states)
65 and older population: 165,403 (24.4% of 18 and older pop.)

31. North Carolina

Total estimated retirement spending: $1,291,983 ($1,485,781 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $56,565 (cost of living adjusted)
Est. life expectancy at age 65: 82.7 years old (16th lowest of 50 states)
Avg. cost of living: 5.9% lower than avg. (23rd lowest of 50 states)
Average home value in 2025: $331,761 (+1.4% in the past year)
Median income for 65 & older households: $49,781 (13th lowest of 50 states)
65 and older population: 1,840,567 (23.2% of 18 and older pop.)

30. Michigan

By the dawn's early light (CC BY 2.0) by Ken Bosma

Total estimated retirement spending: $1,292,601 ($1,486,491 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $56,592 (cost of living adjusted)
Est. life expectancy at age 65: 82.9 years old (19th lowest of 50 states)
Avg. cost of living: 5.8% lower than avg. (24th lowest of 50 states)
Average home value in 2025: $248,560 (+4.3% in the past year)
Median income for 65 & older households: $51,010 (19th lowest of 50 states)
65 and older population: 1,851,239 (24.2% of 18 and older pop.)

29. North Dakota

Total estimated retirement spending: $1,293,112 ($1,487,079 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $53,220 (cost of living adjusted)
Est. life expectancy at age 65: 84.1 years old (10th highest of 50 states)
Avg. cost of living: 11.4% lower than avg. (6th lowest of 50 states)
Average home value in 2025: $269,509 (+5.5% in the past year)
Median income for 65 & older households: $56,319 (16th highest of 50 states)
65 and older population: 129,816 (22.4% of 18 and older pop.)

28. Iowa

Total estimated retirement spending: $1,295,959 ($1,490,353 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $53,337 (cost of living adjusted)
Est. life expectancy at age 65: 83.6 years old (20th highest of 50 states)
Avg. cost of living: 11.2% lower than avg. (7th lowest of 50 states)
Average home value in 2025: $219,987 (+4.7% in the past year)
Median income for 65 & older households: $52,006 (23rd lowest of 50 states)
65 and older population: 585,334 (24.5% of 18 and older pop.)

27. Nebraska

Omaha (BY 2.0) by Pat Hawks

Total estimated retirement spending: $1,319,450 ($1,517,367 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $54,304 (cost of living adjusted)
Est. life expectancy at age 65: 83.8 years old (16th highest of 50 states)
Avg. cost of living: 9.6% lower than avg. (12th lowest of 50 states)
Average home value in 2025: $264,859 (+3.4% in the past year)
Median income for 65 & older households: $51,974 (22nd lowest of 50 states)
65 and older population: 329,771 (23.2% of 18 and older pop.)

26. Nevada

Total estimated retirement spending: $1,330,974 ($1,530,620 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $58,272 (cost of living adjusted)
Est. life expectancy at age 65: 82.5 years old (14th lowest of 50 states)
Avg. cost of living: 3.0% lower than avg. (23rd highest of 50 states)
Average home value in 2025: $448,322 (+4.2% in the past year)
Median income for 65 & older households: $54,959 (21st highest of 50 states)
65 and older population: 511,078 (22.9% of 18 and older pop.)

25. Texas

Total estimated retirement spending: $1,333,650 ($1,533,697 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $58,390 (cost of living adjusted)
Est. life expectancy at age 65: 82.5 years old (14th lowest of 50 states)
Avg. cost of living: 2.8% lower than avg. (21st highest of 50 states)
Average home value in 2025: $303,321 (-0.7% in the past year)
Median income for 65 & older households: $52,331 (25th highest of 50 states)
65 and older population: 3,817,557 (19.1% of 18 and older pop.)

24. Pennsylvania

Total estimated retirement spending: $1,338,110 ($1,538,827 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $58,585 (cost of living adjusted)
Est. life expectancy at age 65: 83.2 years old (23rd lowest of 50 states)
Avg. cost of living: 2.5% lower than avg. (20th highest of 50 states)
Average home value in 2025: $272,299 (+3.9% in the past year)
Median income for 65 & older households: $50,330 (17th lowest of 50 states)
65 and older population: 2,508,501 (25.2% of 18 and older pop.)

23. Wisconsin

Madison, Wisconsin (BY 2.0) by JordanAnthony

Total estimated retirement spending: $1,359,175 ($1,563,052 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $55,939 (cost of living adjusted)
Est. life expectancy at age 65: 83.9 years old (15th highest of 50 states)
Avg. cost of living: 6.9% lower than avg. (21st lowest of 50 states)
Average home value in 2025: $312,361 (+5.7% in the past year)
Median income for 65 & older households: $50,167 (14th lowest of 50 states)
65 and older population: 1,095,117 (24.3% of 18 and older pop.)

22. Virginia

Total estimated retirement spending: $1,382,700 ($1,590,105 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $60,537 (cost of living adjusted)
Est. life expectancy at age 65: 83.2 years old (23rd lowest of 50 states)
Avg. cost of living: 0.7% higher than avg. (16th highest of 50 states)
Average home value in 2025: $400,201 (+4.1% in the past year)
Median income for 65 & older households: $61,447 (11th highest of 50 states)
65 and older population: 1,430,307 (22.3% of 18 and older pop.)

21. Utah

Total estimated retirement spending: $1,386,987 ($1,595,036 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $57,084 (cost of living adjusted)
Est. life expectancy at age 65: 83.8 years old (16th highest of 50 states)
Avg. cost of living: 5.0% lower than avg. (25th lowest of 50 states)
Average home value in 2025: $530,787 (+2.2% in the past year)
Median income for 65 & older households: $63,225 (8th highest of 50 states)
65 and older population: 395,938 (17.3% of 18 and older pop.)

20. Arizona

Total estimated retirement spending: $1,387,586 ($1,595,724 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $60,751 (cost of living adjusted)
Est. life expectancy at age 65: 83.1 years old (21st lowest of 50 states)
Avg. cost of living: 1.1% higher than avg. (15th highest of 50 states)
Average home value in 2025: $429,140 (-0.9% in the past year)
Median income for 65 & older households: $57,507 (14th highest of 50 states)
65 and older population: 1,328,837 (25.0% of 18 and older pop.)

19. Alaska

view of downtown fairbanks alaska across frozen chena river on clear winter morning by FloridaStock

view of downtown fairbanks alaska across frozen chena river on clear winter morning (Shutterstock.com) by FloridaStock

Total estimated retirement spending: $1,395,958 ($1,605,351 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $61,117 (cost of living adjusted)
Est. life expectancy at age 65: 82.9 years old (19th lowest of 50 states)
Avg. cost of living: 1.7% higher than avg. (12th highest of 50 states)
Average home value in 2025: $371,807 (+2.6% in the past year)
Median income for 65 & older households: $66,292 (3rd highest of 50 states)
65 and older population: 100,267 (18.6% of 18 and older pop.)

18. Vermont

Total estimated retirement spending: $1,410,829 ($1,622,453 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $58,065 (cost of living adjusted)
Est. life expectancy at age 65: 84.4 years old (4th highest of 50 states)
Avg. cost of living: 3.4% lower than avg. (25th highest of 50 states)
Average home value in 2025: $388,919 (-0.5% in the past year)
Median income for 65 & older households: $53,245 (22nd highest of 50 states)
65 and older population: 137,830 (26.3% of 18 and older pop.)

17. Maine

Coastal Maine Winter (BY 2.0) by Me in ME

Total estimated retirement spending: $1,417,574 ($1,630,210 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $58,343 (cost of living adjusted)
Est. life expectancy at age 65: 83.6 years old (20th highest of 50 states)
Avg. cost of living: 2.9% lower than avg. (22nd highest of 50 states)
Average home value in 2025: $400,642 (+2.8% in the past year)
Median income for 65 & older households: $51,870 (21st lowest of 50 states)
65 and older population: 309,782 (27.7% of 18 and older pop.)

16. Minnesota

Minneapolis, Minnesota (BY-SA 2.0) by Dougtone

Total estimated retirement spending: $1,436,845 ($1,652,372 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $59,136 (cost of living adjusted)
Est. life expectancy at age 65: 84.4 years old (4th highest of 50 states)
Avg. cost of living: 1.6% lower than avg. (19th highest of 50 states)
Average home value in 2025: $337,891 (+2.7% in the past year)
Median income for 65 & older households: $56,839 (15th highest of 50 states)
65 and older population: 986,180 (23.2% of 18 and older pop.)

15. Illinois

Total estimated retirement spending: $1,443,240 ($1,659,725 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $59,399 (cost of living adjusted)
Est. life expectancy at age 65: 83.6 years old (20th highest of 50 states)
Avg. cost of living: 1.1% lower than avg. (18th highest of 50 states)
Average home value in 2025: $273,186 (+5.2% in the past year)
Median income for 65 & older households: $55,071 (20th highest of 50 states)
65 and older population: 2,093,908 (23.1% of 18 and older pop.)

14. Delaware

Total estimated retirement spending: $1,449,050 ($1,666,408 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $59,638 (cost of living adjusted)
Est. life expectancy at age 65: 83.6 years old (20th highest of 50 states)
Avg. cost of living: 0.7% lower than avg. (17th highest of 50 states)
Average home value in 2025: $389,974 (+2.5% in the past year)
Median income for 65 & older households: $62,733 (9th highest of 50 states)
65 and older population: 209,183 (27.2% of 18 and older pop.)

13. Colorado

On Mountain Ave, Fort Collins,... by Paul L Dineen

On Mountain Ave, Fort Collins,... (CC BY 2.0) by Paul L Dineen

Total estimated retirement spending: $1,480,133 ($1,702,153 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $60,917 (cost of living adjusted)
Est. life expectancy at age 65: 84.1 years old (10th highest of 50 states)
Avg. cost of living: 1.4% higher than avg. (14th highest of 50 states)
Average home value in 2025: $551,854 (+0.3% in the past year)
Median income for 65 & older households: $63,445 (7th highest of 50 states)
65 and older population: 899,032 (20.6% of 18 and older pop.)

12. Rhode Island

Total estimated retirement spending: $1,480,571 ($1,702,656 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $60,935 (cost of living adjusted)
Est. life expectancy at age 65: 84.0 years old (13th highest of 50 states)
Avg. cost of living: 1.4% higher than avg. (13th highest of 50 states)
Average home value in 2025: $475,865 (+6.5% in the past year)
Median income for 65 & older households: $55,691 (19th highest of 50 states)
65 and older population: 199,395 (24.2% of 18 and older pop.)

11. Florida

Total estimated retirement spending: $1,510,354 ($1,736,907 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $62,161 (cost of living adjusted)
Est. life expectancy at age 65: 83.7 years old (18th highest of 50 states)
Avg. cost of living: 3.5% higher than avg. (11th highest of 50 states)
Average home value in 2025: $387,464 (-2.5% in the past year)
Median income for 65 & older households: $52,625 (24th highest of 50 states)
65 and older population: 4,571,937 (28.3% of 18 and older pop.)

10. Maryland

Total estimated retirement spending: $1,517,843 ($1,745,520 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $62,469 (cost of living adjusted)
Est. life expectancy at age 65: 83.7 years old (18th highest of 50 states)
Avg. cost of living: 4.0% higher than avg. (9th highest of 50 states)
Average home value in 2025: $425,692 (+3.1% in the past year)
Median income for 65 & older households: $69,070 (2nd highest of 50 states)
65 and older population: 1,010,721 (22.9% of 18 and older pop.)

9. Oregon

Oregon welcomes you sign at state line. US-HWY 199 Redwood Highway in rain.

Total estimated retirement spending: $1,528,881 ($1,758,213 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $62,924 (cost of living adjusted)
Est. life expectancy at age 65: 83.6 years old (20th highest of 50 states)
Avg. cost of living: 4.7% higher than avg. (8th highest of 50 states)
Average home value in 2025: $500,850 (+1.4% in the past year)
Median income for 65 & older households: $55,973 (17th highest of 50 states)
65 and older population: 801,572 (25.0% of 18 and older pop.)

8. New Hampshire

Total estimated retirement spending: $1,537,991 ($1,768,689 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $63,299 (cost of living adjusted)
Est. life expectancy at age 65: 84.0 years old (13th highest of 50 states)
Avg. cost of living: 5.3% higher than avg. (7th highest of 50 states)
Average home value in 2025: $487,482 (+5.3% in the past year)
Median income for 65 & older households: $59,946 (13th highest of 50 states)
65 and older population: 278,740 (25.0% of 18 and older pop.)

7. New York

Total estimated retirement spending: $1,571,292 ($1,806,986 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $64,669 (cost of living adjusted)
Est. life expectancy at age 65: 84.4 years old (4th highest of 50 states)
Avg. cost of living: 7.6% higher than avg. (6th highest of 50 states)
Average home value in 2025: $485,932 (+6.0% in the past year)
Median income for 65 & older households: $55,878 (18th highest of 50 states)
65 and older population: 3,379,568 (24.0% of 18 and older pop.)

6. Washington

Olympic Coast (BY-SA 2.0) by pfly

Total estimated retirement spending: $1,584,957 ($1,822,701 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $65,232 (cost of living adjusted)
Est. life expectancy at age 65: 84.1 years old (10th highest of 50 states)
Avg. cost of living: 8.6% higher than avg. (4th highest of 50 states)
Average home value in 2025: $603,837 (+3.1% in the past year)
Median income for 65 & older households: $62,597 (10th highest of 50 states)
65 and older population: 1,271,287 (22.7% of 18 and older pop.)

5. New Jersey

Total estimated retirement spending: $1,589,644 ($1,828,091 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $65,425 (cost of living adjusted)
Est. life expectancy at age 65: 84.4 years old (4th highest of 50 states)
Avg. cost of living: 8.9% higher than avg. (2nd highest of 50 states)
Average home value in 2025: $548,338 (+6.5% in the past year)
Median income for 65 & older households: $65,988 (4th highest of 50 states)
65 and older population: 1,545,244 (23.9% of 18 and older pop.)

4. Connecticut

Total estimated retirement spending: $1,606,394 ($1,847,353 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $62,304 (cost of living adjusted)
Est. life expectancy at age 65: 84.9 years old (2nd highest of 50 states)
Avg. cost of living: 3.7% higher than avg. (10th highest of 50 states)
Average home value in 2025: $414,183 (+5.1% in the past year)
Median income for 65 & older households: $65,053 (6th highest of 50 states)
65 and older population: 639,992 (24.0% of 18 and older pop.)

3. California

Total estimated retirement spending: $1,643,633 ($1,890,178 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $67,647 (cost of living adjusted)
Est. life expectancy at age 65: 84.3 years old (8th highest of 50 states)
Avg. cost of living: 12.6% higher than avg. (the highest of 50 states)
Average home value in 2025: $788,920 (+2.3% in the past year)
Median income for 65 & older households: $65,628 (5th highest of 50 states)
65 and older population: 5,673,617 (21.8% of 18 and older pop.)

2. Massachusetts

Total estimated retirement spending: $1,676,869 ($1,928,399 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $65,037 (cost of living adjusted)
Est. life expectancy at age 65: 84.6 years old (3rd highest of 50 states)
Avg. cost of living: 8.2% higher than avg. (5th highest of 50 states)
Average home value in 2025: $635,252 (+4.5% in the past year)
Median income for 65 & older households: $60,810 (12th highest of 50 states)
65 and older population: 1,216,510 (23.7% of 18 and older pop.)

1. Hawaii

Total estimated retirement spending: $1,781,529 ($2,048,758 with 15% cushion)
Avg. spending of 65 and older pop. in 2023: $65,260 (cost of living adjusted)
Est. life expectancy at age 65: 85.6 years old (the highest of 50 states)
Avg. cost of living: 8.6% higher than avg. (3rd highest of 50 states)
Average home value in 2025: $841,274 (+0.5% in the past year)
Median income for 65 & older households: $77,957 (the highest of 50 states)
65 and older population: 279,735 (26.5% of 18 and older pop.)