The Average Retirement Age in Every State

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.

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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: July 16, 2021

Alabama
Average retirement age: 62
Annual cost of a comfortable retirement: $49,099

Retirement savings needed: $883,790
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Alaska
Average retirement age: 61
Annual cost of a comfortable retirement: $79,249

Retirement savings needed: $1,505,740
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Arizona
Average retirement age: 63
Annual cost of a comfortable retirement: $58,327

Retirement savings needed: $991,560
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Arkansas
Average retirement age: 62
Annual cost of a comfortable retirement: $47,836

Retirement savings needed: $861,053
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California
Average retirement age: 64
Annual cost of a comfortable retirement: $83,279

Retirement savings needed: $1,332,457
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Colorado
Average retirement age: 65
Annual cost of a comfortable retirement: $60,357

Retirement savings needed: $905,350
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Connecticut
Average retirement age: 65
Annual cost of a comfortable retirement: $70,817

Retirement savings needed: $1,062,257
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Delaware
Average retirement age: 63
Annual cost of a comfortable retirement: $58,418

Retirement savings needed: $993,101
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District of Columbia
Average retirement age: 67
Annual cost of a comfortable retirement: $94,248
Retirement savings needed: $1,225,222
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Florida
Average retirement age: 64
Annual cost of a comfortable retirement: $56,382

Retirement savings needed: $902,116
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Georgia
Average retirement age: 63
Annual cost of a comfortable retirement: $50,066

Retirement savings needed: $851,122
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Hawaii
Average retirement age: 66
Annual cost of a comfortable retirement: $120,909

Retirement savings needed: $1,692,722
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Idaho
Average retirement age: 64
Annual cost of a comfortable retirement: $52,962

Retirement savings needed: $847,388
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Illinois
Average retirement age: 64
Annual cost of a comfortable retirement: $54,657

Retirement savings needed: $874,507
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Indiana
Average retirement age: 63
Annual cost of a comfortable retirement: $50,697

Retirement savings needed: $861,848
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Iowa
Average retirement age: 65
Annual cost of a comfortable retirement: $52,399

Retirement savings needed: $785,982
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Kansas
Average retirement age: 65
Annual cost of a comfortable retirement: $50,223

Retirement savings needed: $753,339
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Kentucky
Average retirement age: 62
Annual cost of a comfortable retirement: $51,082

Retirement savings needed: $919,469
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Louisiana
Average retirement age: 62
Annual cost of a comfortable retirement: $52,695

Retirement savings needed: $948,503
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Maine
Average retirement age: 63
Annual cost of a comfortable retirement: $66,752

Retirement savings needed: $1,134,778
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Maryland
Average retirement age: 65
Annual cost of a comfortable retirement: $73,111

Retirement savings needed: $1,096,666
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Massachusetts
Average retirement age: 66
Annual cost of a comfortable retirement: $77,122

Retirement savings needed: $1,079,710
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Michigan
Average retirement age: 62
Annual cost of a comfortable retirement: $51,356
Retirement savings needed: $924,415
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Minnesota
Average retirement age: 65
Annual cost of a comfortable retirement: $56,869

Retirement savings needed: $853,040
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Mississippi
Average retirement age: 63
Annual cost of a comfortable retirement: $46,993

Retirement savings needed: $798,874
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Missouri
Average retirement age: 63
Annual cost of a comfortable retirement: $50,247

Retirement savings needed: $854,197
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Montana
Average retirement age: 64
Annual cost of a comfortable retirement: $55,711

Retirement savings needed: $891,368
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Nebraska
Average retirement age: 65
Annual cost of a comfortable retirement: $52,439

Retirement savings needed: $786,583
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Nevada
Average retirement age: 63
Annual cost of a comfortable retirement: $63,300

Retirement savings needed: $1,076,107
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New Hampshire
Average retirement age: 65
Annual cost of a comfortable retirement: $62,011

Retirement savings needed: $930,159
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New Jersey
Average retirement age: 65
Annual cost of a comfortable retirement: $67,764

Retirement savings needed: $1,016,461
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New Mexico
Average retirement age: 62
Annual cost of a comfortable retirement: $51,556

Retirement savings needed: $928,181
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New York
Average retirement age: 64
Annual cost of a comfortable retirement: $77,911

Retirement savings needed: $1,246,578
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North Carolina
Average retirement age: 63
Annual cost of a comfortable retirement: $54,687

Retirement savings needed: $929,686
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North Dakota
Average retirement age: 65
Annual cost of a comfortable retirement: $57,060

Retirement savings needed: $855,904
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Ohio
Average retirement age: 63
Annual cost of a comfortable retirement: $51,817

Retirement savings needed: $880,889
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Oklahoma
Average retirement age: 62
Annual cost of a comfortable retirement: $48,716

Retirement savings needed: $876,879
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Oregon
Average retirement age: 63
Annual cost of a comfortable retirement: $78,439

Retirement savings needed: $1,333,467
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Pennsylvania
Average retirement age: 64
Annual cost of a comfortable retirement: $57,941

Retirement savings needed: $927,056
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Rhode Island
Average retirement age: 65
Annual cost of a comfortable retirement: $67,594

Retirement savings needed: $1,013,904
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South Carolina
Average retirement age: 63
Annual cost of a comfortable retirement: $53,207

Retirement savings needed: $904,527
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South Dakota
Average retirement age: 66
Annual cost of a comfortable retirement: $56,178

Retirement savings needed: $786,497
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Tennessee
Average retirement age: 64
Annual cost of a comfortable retirement: $50,186

Retirement savings needed: $802,977
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Texas
Average retirement age: 65
Annual cost of a comfortable retirement: $52,341

Retirement savings needed: $785,109
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Utah
Average retirement age: 65
Annual cost of a comfortable retirement: $54,363

Retirement savings needed: $815,449
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Vermont
Average retirement age: 65
Annual cost of a comfortable retirement: $67,651

Retirement savings needed: $1,014,762
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Virginia
Average retirement age: 65
Annual cost of a comfortable retirement: $58,120

Retirement savings needed: $871,793
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Washington
Average retirement age: 64
Annual cost of a comfortable retirement: $64,636

Retirement savings needed: $1,034,174
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West Virginia
Average retirement age: 61
Annual cost of a comfortable retirement: $49,439

Retirement savings needed: $939,341
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Wisconsin
Average retirement age: 64
Annual cost of a comfortable retirement: $56,434

Retirement savings needed: $902,942
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Wyoming
Average retirement age: 64
Annual cost of a comfortable retirement: $52,330

Retirement savings needed: $837,287
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Methodology: GOBankingRates looked at the average retirement age in every state, as reported by Money Talk News on Sep. 29, 2019, using data from the U.S. Census Bureau’s latest American Community Survey and compared it with the cost to retire in each state. To find the cost of a comfortable retirement in each of the respective states, GOBankingRates analyzed consumption expenditures of Americans aged 65 and older, based on data sourced from the Bureau of Labor Statistics' (BLS) Consumer Expenditure Survey 2019: (1) annual spending on groceries, defined as "food at home" by the BLS; (2) annual spending on housing, defined as "shelter" by the BLS; (3) annual spending on transportation, defined as ""Gasoline, other fuels, and motor oil" + "other vehicle expenses" by the BLS; (4) annual spending on healthcare; (5) annual spending on utilities, defined as "uilities, uels and other services" by BLS. These were then adjusted to every state's itemized cost-of-living index, sourced from the Missouri Economic Research and Information Center's 2020 Quarter 3 average annual cost-of-living index. After calculating total necessities expenditures, an additional savings buffer was calculated by assuming that total expenditures covers 80% of one's budget (50% for necessities and 30% for discretionary spending), with 20% left over for savings. All of GOBankingRates original data and analyses was conducted on Dec. 14, 2020.

This article originally appeared on GOBankingRates.com: The Average Retirement Age in Every State