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The Average Retirement Age in Every State




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skynesher / iStock.  

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.

Read More: Social Security Cost-of-Living Adjustments Aren't Enough To Pay Higher Costs for Seniors
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: Sept. 10, 2021

Sean Pavone / Shutterstock.
Sean Pavone / Shutterstock.  

Alabama

  • Average retirement age: 62

  • Annual cost of a comfortable retirement: $49,099

  • Retirement savings needed: $883,790

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wanderluster / Getty Images
wanderluster / Getty Images  

Alaska

  • Average retirement age: 61

  • Annual cost of a comfortable retirement: $79,249

  • Retirement savings needed: $1,505,740

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Sean Pavone / Getty Images/iStockphoto
Sean Pavone / Getty Images/iStockphoto  

Arizona

  • Average retirement age: 63

  • Annual cost of a comfortable retirement: $58,327

  • Retirement savings needed: $991,560

Tizod / Getty Images
Tizod / Getty Images  

Arkansas

  • Average retirement age: 62

  • Annual cost of a comfortable retirement: $47,836

  • Retirement savings needed: $861,053

EQRoy / Shutterstock.
EQRoy / Shutterstock.  

California

  • Average retirement age: 64

  • Annual cost of a comfortable retirement: $83,279

  • Retirement savings needed: $1,332,457

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Shutterstock.
Shutterstock.  

Colorado

  • Average retirement age: 65

  • Annual cost of a comfortable retirement: $60,357

  • Retirement savings needed: $905,350

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DenisTangneyJr / Getty Images/iStockphoto
DenisTangneyJr / Getty Images/iStockphoto  

Connecticut

  • Average retirement age: 65

  • Annual cost of a comfortable retirement: $70,817

  • Retirement savings needed: $1,062,257

benkrut / Getty Images/iStockphoto
benkrut / Getty Images/iStockphoto  

Delaware

  • Average retirement age: 63

  • Annual cost of a comfortable retirement: $58,418

  • Retirement savings needed: $993,101

zorazhuang / iStock.
zorazhuang / iStock.  

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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Sean Pavone / Getty Images/iStockphoto
Sean Pavone / Getty Images/iStockphoto  

Florida

  • Average retirement age: 64

  • Annual cost of a comfortable retirement: $56,382

  • Retirement savings needed: $902,116

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SeanPavonePhoto / Getty Images  

Georgia

  • Average retirement age: 63

  • Annual cost of a comfortable retirement: $50,066

  • Retirement savings needed: $851,122

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zorazhuang / Getty Images/iStockphoto
zorazhuang / Getty Images/iStockphoto  

Hawaii

  • Average retirement age: 66

  • Annual cost of a comfortable retirement: $120,909

  • Retirement savings needed: $1,692,722

KingWu / Getty Images
KingWu / Getty Images  

Idaho

  • Average retirement age: 64

  • Annual cost of a comfortable retirement: $52,962

  • Retirement savings needed: $847,388

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Randall Runtsch / Shutterstock.  

Illinois

  • Average retirement age: 64

  • Annual cost of a comfortable retirement: $54,657

  • Retirement savings needed: $874,507

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traveler1116 / Getty Images  

Indiana

  • Average retirement age: 63

  • Annual cost of a comfortable retirement: $50,697

  • Retirement savings needed: $861,848

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benkrut / Getty Images/iStockphoto
benkrut / Getty Images/iStockphoto  

Iowa

  • Average retirement age: 65

  • Annual cost of a comfortable retirement: $52,399

  • Retirement savings needed: $785,982

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Sean Pavone / Getty Images
Sean Pavone / Getty Images  

Kansas

  • Average retirement age: 65

  • Annual cost of a comfortable retirement: $50,223

  • Retirement savings needed: $753,339

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Sean Pavone / Shutterstock.
Sean Pavone / Shutterstock.  

Kentucky

  • Average retirement age: 62

  • Annual cost of a comfortable retirement: $51,082

  • Retirement savings needed: $919,469

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Susanne Neumann / Getty Images/iStockphoto
Susanne Neumann / Getty Images/iStockphoto  

Louisiana

  • Average retirement age: 62

  • Annual cost of a comfortable retirement: $52,695

  • Retirement savings needed: $948,503

See: How To Protect Your Retirement Savings During the Coronavirus Pandemic

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davidmarxphoto / Shutterstock.  

Maine

  • Average retirement age: 63

  • Annual cost of a comfortable retirement: $66,752

  • Retirement savings needed: $1,134,778

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Shutterstock.  

Maryland

  • Average retirement age: 65

  • Annual cost of a comfortable retirement: $73,111

  • Retirement savings needed: $1,096,666

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Taku Sanada / Getty Images  

Massachusetts

  • Average retirement age: 66

  • Annual cost of a comfortable retirement: $77,122

  • Retirement savings needed: $1,079,710

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pawel.
pawel.  

Michigan

  • Average retirement age: 62

  • Annual cost of a comfortable retirement: $51,356

  • Retirement savings needed: $924,415

Read More: 27 Best Strategies To Get the Most Out of Your 401(k)

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jimkruger / Getty Images  

Minnesota

  • Average retirement age: 65

  • Annual cost of a comfortable retirement: $56,869

  • Retirement savings needed: $853,040

Sean Pavone / Getty Images/iStockphoto
Sean Pavone / Getty Images/iStockphoto  

Mississippi

  • Average retirement age: 63

  • Annual cost of a comfortable retirement: $46,993

  • Retirement savings needed: $798,874

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Sean Pavone / Shutterstock.
Sean Pavone / Shutterstock.  

Missouri

  • Average retirement age: 63

  • Annual cost of a comfortable retirement: $50,247

  • Retirement savings needed: $854,197

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Scott Wilson Photography / Shutterstock.  

Montana

  • Average retirement age: 64

  • Annual cost of a comfortable retirement: $55,711

  • Retirement savings needed: $891,368

See: 42 Easy Ways To Save For Retirement

Davel5957 / Getty Images/iStockphoto
Davel5957 / Getty Images/iStockphoto  

Nebraska

  • Average retirement age: 65

  • Annual cost of a comfortable retirement: $52,439

  • Retirement savings needed: $786,583

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LTuray / Getty Images/iStockphoto  

Nevada

  • Average retirement age: 63

  • Annual cost of a comfortable retirement: $63,300

  • Retirement savings needed: $1,076,107

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DenisTangneyJr / Getty Images/iStockphoto  

New Hampshire

  • Average retirement age: 65

  • Annual cost of a comfortable retirement: $62,011

  • Retirement savings needed: $930,159

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littleny / Getty Images  

New Jersey

  • Average retirement age: 65

  • Annual cost of a comfortable retirement: $67,764

  • Retirement savings needed: $1,016,461

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ivanastar / Getty Images  

New Mexico

  • Average retirement age: 62

  • Annual cost of a comfortable retirement: $51,556

  • Retirement savings needed: $928,181

DenisTangneyJr / Getty Images/iStockphoto
DenisTangneyJr / Getty Images/iStockphoto  

New York

  • Average retirement age: 64

  • Annual cost of a comfortable retirement: $77,911

  • Retirement savings needed: $1,246,578

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traveler1116 / Getty Images  

North Carolina

  • Average retirement age: 63

  • Annual cost of a comfortable retirement: $54,687

  • Retirement savings needed: $929,686

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DenisTangneyJr / Getty Images
DenisTangneyJr / Getty Images  

North Dakota

  • Average retirement age: 65

  • Annual cost of a comfortable retirement: $57,060

  • Retirement savings needed: $855,904

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aceshot / Getty Images/iStockphoto
aceshot / Getty Images/iStockphoto  

Ohio

  • Average retirement age: 63

  • Annual cost of a comfortable retirement: $51,817

  • Retirement savings needed: $880,889

Davel5957 / Getty Images
Davel5957 / Getty Images  

Oklahoma

  • Average retirement age: 62

  • Annual cost of a comfortable retirement: $48,716

  • Retirement savings needed: $876,879

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Bridget Moyer / Shutterstock.  

Oregon

  • Average retirement age: 63

  • Annual cost of a comfortable retirement: $78,439

  • Retirement savings needed: $1,333,467

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drnadig / Getty Images/iStockphoto  

Pennsylvania

  • Average retirement age: 64

  • Annual cost of a comfortable retirement: $57,941

  • Retirement savings needed: $927,056

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Sean Pavone / Getty Images/iStockphoto
Sean Pavone / Getty Images/iStockphoto  

Rhode Island

  • Average retirement age: 65

  • Annual cost of a comfortable retirement: $67,594

  • Retirement savings needed: $1,013,904

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traveler1116 / Getty Images  

South Carolina

  • Average retirement age: 63

  • Annual cost of a comfortable retirement: $53,207

  • Retirement savings needed: $904,527

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James_Gabbert / Getty Images  

South Dakota

  • Average retirement age: 66

  • Annual cost of a comfortable retirement: $56,178

  • Retirement savings needed: $786,497

Shutterstock.
Shutterstock.  

Tennessee

  • Average retirement age: 64

  • Annual cost of a comfortable retirement: $50,186

  • Retirement savings needed: $802,977

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Roschetzky Photography / Shutterstock.
Roschetzky Photography / Shutterstock.  

Texas

  • Average retirement age: 65

  • Annual cost of a comfortable retirement: $52,341

  • Retirement savings needed: $785,109

georgeclerk / iStock.
georgeclerk / iStock.  

Utah

  • Average retirement age: 65

  • Annual cost of a comfortable retirement: $54,363

  • Retirement savings needed: $815,449

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Ron_Thomas / Getty Images  

Vermont

  • Average retirement age: 65

  • Annual cost of a comfortable retirement: $67,651

  • Retirement savings needed: $1,014,762

WilliamSherman / Getty Images/iStockphoto
WilliamSherman / Getty Images/iStockphoto  

Virginia

  • Average retirement age: 65

  • Annual cost of a comfortable retirement: $58,120

  • Retirement savings needed: $871,793

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AnSyvanych / Getty Images  

Washington

  • Average retirement age: 64

  • Annual cost of a comfortable retirement: $64,636

  • Retirement savings needed: $1,034,174

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DavidByronKeener / iStock.  

West Virginia

  • Average retirement age: 61

  • Annual cost of a comfortable retirement: $49,439

  • Retirement savings needed: $939,341

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MarynaG / Shutterstock.  

Wisconsin

  • Average retirement age: 64

  • Annual cost of a comfortable retirement: $56,434

  • Retirement savings needed: $902,942

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troutfisherman / Getty Images  

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

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  • While there are countless generic retirement calculators available on line, there are several serious limitations to them from a planning standpoint. First, knowing how much money you will need for retirement is uniquely personal and specific to you and your circumstances, and there is no one size fits all tool to determine your needs. Second, and more problematic, there is simply no crystal ball that exists to predict the future. How much will you earn between now and retirement? How much will you be able to save? How much will I really need when I retire? What annual inflation rate should I assume before and after retirement? Will Social Security even exit to help defray my living expenses? What might happen between now and retirement to derail my plans?

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