Map Shows Best States To Retire Comfortably in US
Summary
A new report shows that the cost to live comfortably in retirement varies widely across the United States, with some states requiring over $100,000 per year. Hawaii is the most expensive state for retirees, while West Virginia is the least expensive. Housing is the biggest cost for seniors, followed by transportation, food, and healthcare.Key Facts
- Retirees in Hawaii need about $156,610 per year to live comfortably, the highest in the U.S.
- California and Massachusetts follow with retirement costs over $110,000 annually.
- Thirteen states require more than $100,000 per year for comfortable retirement, mostly in the West and Northeast.
- West Virginia has the lowest retirement cost at $33,223 per year.
- Housing costs average $22,193 annually for retirees, the largest single expense.
- Transportation costs about $9,538 per year, including vehicles and fuel.
- Food and healthcare costs average roughly $7,940 and $7,799 per year, respectively.
- Nearly half of retirees say their expenses are higher than they expected, causing concerns about their savings lasting.
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