How Much The Average Retiree Takes Home In Every State
Social Security benefits. Pensions. Paychecks from post-retirement gigs. Withdrawals from retirement accounts. Annuities, CDs and bonds.
They can all be a part of retirement income, which if you’re lucky, you either have – or will have – a large chunk of.
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How much you bring in can vary widely and depends on numerous factors. They include the age at which you start collecting Social Security, as most retirees do. Start at 62, and you’ll get money sooner but it will be a locked-in, lower amount. Wait until 67 or later, and that monthly check will be fatter.
Other factors include whether you have a pension, how well you did feeding those retirement accounts over the years, and whether you’re still doing some type of work.
Average retirement income also varies depending on which state you’re in. Here’s a list of how much residents of each state bring in each year on average, along with how each state (and Washington D.C.) ranks – with No. 1 being the highest average and No. 51 the lowest.
Alabama
Mean retirement income: $28,196
Ranking among 50 states + DC: 36
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Alaska
Mean retirement income: $42,676
Ranking among 50 states + DC: 2
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Arizona
Mean retirement income: $32,379
Ranking among 50 states + DC: 20
Arkansas
Mean retirement income: $24,932
Ranking among 50 states + DC: 49
California
Mean retirement income: $38,967
Ranking among 50 states + DC: 4
Colorado
Mean retirement income: $36,606
Ranking among 50 states + DC: 7
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Connecticut
Mean retirement income: $35,824
Ranking among 50 states + DC: 8
Delaware
Mean retirement income: $34,944
Ranking among 50 states + DC: 11
District of Columbia
Mean retirement income: $49,072
Ranking among 50 states + DC: 1
Florida
Mean retirement income: $34,220
Ranking among 50 states + DC: 14
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Georgia
Mean retirement income: $31,201
Ranking among 50 states + DC: 21
Hawaii
Mean retirement income: $37,825
Ranking among 50 states + DC: 5
Idaho
Mean retirement income: $28,798
Ranking among 50 states + DC: 33
Illinois
Mean retirement income: $35,091
Ranking among 50 states + DC: 10
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Indiana
Mean retirement income: $23,466
Ranking among 50 states + DC: 51
Iowa
Mean retirement income: $25,913
Ranking among 50 states + DC: 48
Kansas
Mean retirement income: $27,493
Ranking among 50 states + DC: 40
Kentucky
Mean retirement income: $27,668
Ranking among 50 states + DC: 39
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Louisiana
Mean retirement income: $28,468
Ranking among 50 states + DC: 35
Maine
Mean retirement income: $29,469
Ranking among 50 states + DC: 30
Maryland
Mean retirement income: $40,129
Ranking among 50 states + DC: 3
Massachusetts
Mean retirement income: $35,294
Ranking among 50 states + DC: 9
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Michigan
Mean retirement income: $27,742
Ranking among 50 states + DC: 38
Minnesota
Mean retirement income: $30,037
Ranking among 50 states + DC: 26
Mississippi
Mean retirement income: $26,300
Ranking among 50 states + DC: 47
Missouri
Mean retirement income: $27,218
Ranking among 50 states + DC: 42
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Montana
Mean retirement income: $29,745
Ranking among 50 states + DC: 27
Nebraska
Mean retirement income: $27,216
Ranking among 50 states + DC: 43
Nevada
Mean retirement income: $34,918
Ranking among 50 states + DC: 12
New Hampshire
Mean retirement income: $30,671
Ranking among 50 states + DC: 24
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New Jersey
Mean retirement income: $34,883
Ranking among 50 states + DC: 13
New Mexico
Mean retirement income: $32,865
Ranking among 50 states + DC: 17
New York
Mean retirement income: $33,934
Ranking among 50 states + DC: 15
North Carolina
Mean retirement income: $29,056
Ranking among 50 states + DC: 32
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North Dakota
Mean retirement income: $27,207
Ranking among 50 states + DC: 44
Ohio
Mean retirement income: $29,646
Ranking among 50 states + DC: 28
Oklahoma
Mean retirement income: $27,178
Ranking among 50 states + DC: 45
Oregon
Mean retirement income: $32,535
Ranking among 50 states + DC: 18
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Pennsylvania
Mean retirement income: $27,994
Ranking among 50 states + DC: 37
Rhode Island
Mean retirement income: $31,055
Ranking among 50 states + DC: 22
South Carolina
Mean retirement income: $29,486
Ranking among 50 states + DC: 29
South Dakota
Mean retirement income: $27,482
Ranking among 50 states + DC: 41
Tennessee
Mean retirement income: $26,826
Ranking among 50 states + DC: 46
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Texas
Mean retirement income: $30,970
Ranking among 50 states + DC: 23
Utah
Mean retirement income: $32,401
Ranking among 50 states + DC: 19
Vermont
Mean retirement income: $29,401
Ranking among 50 states + DC: 31
Virginia
Mean retirement income: $37,730
Ranking among 50 states + DC: 6
Washington
Mean retirement income: $33,503
Ranking among 50 states + DC: 16
West Virginia
Mean retirement income: $24,639
Ranking among 50 states + DC: 50
Wisconsin
Mean retirement income: $28,704
Ranking among 50 states + DC: 34
Wyoming
Mean retirement income: $30,435
Ranking among 50 states + DC: 25
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