How much money you need to retire comfortably in every U.S. state

Where you retire can be almost as important as the amount of money you’ve saved, given how much the cost of living varies from state to state.

The annual cost of a comfortable retirement can differ by as much as $67,981 depending on where you settle, according to a recent GOBankingRates analysis of all 50 U.S. states.

Hawaii has the highest average retirement expenses in the country, costing retirees an estimated $129,296 a year to live comfortably. That’s more than twice the amount needed in Mississippi, where retirees need $61,315, on average.

To calculate the annual retirement costs for Americans aged 65 and older in each state, the study used Bureau of Labor Statistics estimates for food, shelter, transportation, health care, and utility expenses. A 20% cash buffer was added to this total to ensure retirees could live “comfortably,” according to the study.

Housing is the biggest differentiator in the cost of living in each state. In Hawaii, a combination of high demand and limited space for homes has led to some of the highest housing costs in the country.

In Mississippi — like many other rural states — home prices and property taxes are among the lowest in the U.S., which helps keep retirement costs down.

Below are the annual retirement expenses for every state, in alphabetical order.  

• Total expenditures:  $50,980
• 20% comfort buffer: $10,196
• Cost of a comfortable retirement annually: $61,176

• Total expenditures: $72,390
• 20% comfort buffer: $14,478
• Cost of a comfortable retirement annually: $86,868

• Total expenditures: $63,942
• 20% comfort buffer: $12,788
• Cost of a comfortable retirement annually: $76,730

• Total expenditures: $51,211
• 20% comfort buffer: $10,242
• Cost of a comfortable retirement annually: $61,454

• Total expenditures: $83,906
• 20% comfort buffer: $16,781
• Cost of a comfortable retirement annually: $100,687

• Total expenditures: $58,908
• 20% comfort buffer: $11,782
• Cost of a comfortable retirement annually: $70,689

• Total expenditures: $65,504
• 20% comfort buffer: $13,101
• Cost of a comfortable retirement annually: $78,605

• Total expenditures: $58,387
• 20% comfort buffer:  $11,677
• Cost of a comfortable retirement annually: $70,064

• Total expenditures: $59,660
• 20% comfort buffer: $11,932
• Cost of a comfortable retirement annually: $71,592

• Total expenditures: $52,832
• 20% comfort buffer: $10,566
• Cost of a comfortable retirement annually: $63,398

• Total expenditures: $107,746
• 20% comfort buffer: $21,549
• Cost of a comfortable retirement annually: $129,296

• Total expenditures: $58,503
• 20% comfort buffer: $11,701
• Cost of a comfortable retirement annually: $70,203

• Total expenditures: $53,989
• 20% comfort buffer: $10,798
• Cost of a comfortable retirement annually: $64,787

• Total expenditures: $52,253
• 20% comfort buffer: $10,451
• Cost of a comfortable retirement annually: $62,704

• Total expenditures: $52,137
• 20% comfort buffer: $10,427
• Cost of a comfortable retirement annually: $62,565

• Total expenditures: $50,517
• 20% comfort buffer: $10,103
• Cost of a comfortable retirement annually: $60,620

• Total expenditures: $53,584
• 20% comfort buffer: $10,717
• Cost of a comfortable retirement annually: $64,301

• Total expenditures: $53,295
• 20% comfort buffer: $10,659
• Cost of a comfortable retirement annually: $63,954

• Total expenditures: $64,405
• 20% comfort buffer: $12,881
• Cost of a comfortable retirement annually: $77,286

• Total expenditures: $67,240
• 20% comfort buffer: $13,448
• Cost of a comfortable retirement annually: $80,688

• Total expenditures: $83,501
• 20% comfort buffer: $16,700
• Cost of a comfortable retirement annually: $100,201

• Total expenditures: $53,121
• 20% comfort buffer: $10,624
• Cost of a comfortable retirement annually: $63,745

• Total expenditures: $54,857
• 20% comfort buffer: $10,971
• Cost of a comfortable retirement annually: $65,828

• Total expenditures: $51,096
• 20% comfort buffer: $10,219
• Cost of a comfortable retirement annually: $61,315

• Total expenditures: $51,211
• 20% comfort buffer: $10,242
• Cost of a comfortable retirement annually: $61,454

• Total expenditures: $54,741
• 20% comfort buffer:  $10,948
• Cost of a comfortable retirement annually: $65,689

• Total expenditures: $54,047
• 20% comfort buffer: $10,809
• Cost of a comfortable retirement annually: $64,856

• Total expenditures: $59,428
• 20% comfort buffer: $11,886
• Cost of a comfortable retirement annually: $71,314

• Total expenditures: $65,736
• 20% comfort buffer: $13,147
• Cost of a comfortable retirement annually: $78,883

• Total expenditures: $65,794
• 20% comfort buffer: $13,159
• Cost of a comfortable retirement annually: $78,952

• Total expenditures: $54,163
• 20% comfort buffer: $10,833
• Cost of a comfortable retirement annually: $64,995

• Total expenditures: $71,233
• 20% comfort buffer: $14,247
• Cost of a comfortable retirement annually: $85,480

• Total expenditures: $56,998
• 20% comfort buffer: $11,400
• Cost of a comfortable retirement annually: $68,398

• Total expenditures: $53,700
• 20% comfort buffer: $10,740
• Cost of a comfortable retirement annually: $64,440

• Total expenditures: $54,394
• 20% comfort buffer: $10,879
• Cost of a comfortable retirement annually: $65,273

• Total expenditures: $49,996
• 20% comfort buffer: $9,999
• Cost of a comfortable retirement annually: $59,995

• Total expenditures: $66,025
• 20% comfort buffer: $13,205
• Cost of a comfortable retirement annually: $79,230

• Total expenditures: $55,320
• 20% comfort buffer: $11,064
• Cost of a comfortable retirement annually: $66,384

• Total expenditures: $65,620
• 20% comfort buffer: $13,124
• Cost of a comfortable retirement annually: $78,744

• Total expenditures: $56,477
• 20% comfort buffer: $11,295
• Cost of a comfortable retirement annually: $67,773

• Total expenditures: $54,047
• 20% comfort buffer: $10,809
• Cost of a comfortable retirement annually: $64,856

• Total expenditures: $52,253
• 20% comfort buffer: $10,451
• Cost of a comfortable retirement annually: $62,704

• Total expenditures: $53,468
• 20% comfort buffer: $10,694
• Cost of a comfortable retirement annually: $64,162

• Total expenditures: $59,544
• 20% comfort buffer: $11,909
• Cost of a comfortable retirement annually: $71,453

• Total expenditures: $66,372
• 20% comfort buffer: $13,274
• Cost of a comfortable retirement annually: $79,647

• Total expenditures: $58,618
• 20% comfort buffer: $11,724
• Cost of a comfortable retirement annually: $70,342

• Total expenditures: $66,604
• 20% comfort buffer: $13,321
• Cost of a comfortable retirement annually: $79,925

• Total expenditures: $48,492
• 20% comfort buffer: $9,698
• Cost of a comfortable retirement annually: $58,190

• Total expenditures: $56,130
• 20% comfort buffer: $11,226
• Cost of a comfortable retirement annually: $67,356

• Total expenditures: $55,031
• 20% comfort buffer: $11,006
• Cost of a comfortable retirement annually: $66,037

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