How much money physicians need to retire, by US state

The annual cost of retirement can vary by as much as $67,981 annually, depending on what state you live in, according to an Oct. 2 report from CNBC, based on a recent GOBankingRates analysis of all 50 U.S. states.

Hawaii has the highest annual cost of living for retirees, with high tax rates and home prices. 

Here is the annual cost of a comfortable retirement in all 50 states: 

Note: Figures include total expected annual expenditures plus a 20% comfort buffer. 

Alabama:  $61,176

Alaska: $86,868

Arizona: $76,730

Arkansas: $61,454

California: $100,687

Colorado: $70,689

Connecticut: $78,605

Delaware: $70,064

Florida: $71,592

Georgia: $63,398

Hawaii: $129,296

Idaho: $70,203

Illinois: $64,787

Indiana: $62,704

Iowa: $62,565

Kansas: $60,620

Kentucky: $64,301

Louisiana: $63,954

Maine: $77,286

Maryland: $80,688

Massachusetts:  $100,201

Michigan: $63,745

Minnesota: $65,828

Mississippi: $61,315

Missouri: $61,454

Montana: $65,689

Nebraska: $64,856

Nevada: $71,314

New Hampshire: $78,883

New Jersey: $78,952

New Mexico: $64,995

New York: $85,480

North Carolina: $68,398

North Dakota: $64,440

Ohio: $65,273

Oklahoma: $59,995

Oregon: $79,230

Pennsylvania: $66,384

Rhode Island: $78,744

South Carolina: $67,773

South Dakota: $64,856

Tennessee: $62,704

Texas: $64,162

Utah: $71,453

Vermont: $79,647

Virginia: $70,342

Washington: $79,925

West Virginia: $58,190

Wisconsin: $67,356

Wyoming: $66,037

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Articles We Think You'll Like

 

Featured Whitepapers

Featured Webinars