skynesher \/ Getty Images<\/p>\n
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.<\/p>\n
Read More: Social Security Cost-of-Living Adjustments Arent Enough to Pay Higher Costs for SeniorsFind Out: Heres Exactly How Much Savings You Need To Retire In Your State<\/p>\n
Of course, to truly live a comfortable retirement takes more than desire -- it also takes a large chunk of cash.<\/p>\n
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.<\/p>\n
Check out when you can expect to retire, based on your state of residence.<\/p>\n
Last updated: March 30, 2021<\/p>\n
Birmingham, Alabama, USA downtown city skyline.<\/p>\n
Average retirement age: 62<\/p>\n
Annual cost of a comfortable retirement: $49,099<\/p>\n
Retirement savings needed: $883,790<\/p>\n
Save More: Savings Tricks From Regular People Who Are Sitting on Millions<\/p>\n
Alaska, USA - August 12, 2016: Downtown Juneau with flowers in the foreground with painted wooden storefront buildings and the Red Dog Saloon.<\/p>\n
Average retirement age: 61<\/p>\n
Annual cost of a comfortable retirement: $79,249<\/p>\n
Retirement savings needed: $1,505,740<\/p>\n
Watch Out: 14 Key Signs You Will Run Out of Money in Retirement<\/p>\n
Story continues<\/p>\n
Tucson, Arizona, USA downtown skyline with Sentinel Peak at dusk.<\/p>\n
Average retirement age: 63<\/p>\n
Annual cost of a comfortable retirement: $58,327<\/p>\n
Retirement savings needed: $991,560<\/p>\n
Related: What Is a Roth IRA?<\/p>\n
Hot Springs, Arkansas, USA - May 23, 2014: Historic Bath House Row at sunrise.<\/p>\n
Average retirement age: 62<\/p>\n
Annual cost of a comfortable retirement: $47,836<\/p>\n
Retirement savings needed: $861,053<\/p>\n
Read: 17 Biggest Budgeting Mistakes Youre Making<\/p>\n
SAN FRANCISCO, CA -31 AUG 2017- The Chinatown neighborhood of San Francisco is the oldest Chinatown in the United States and the largest Chinese community outside Asia.<\/p>\n
Average retirement age: 64<\/p>\n
Annual cost of a comfortable retirement: $83,279<\/p>\n
Retirement savings needed: $1,332,457<\/p>\n
Helpful: 19 Effective Ways To Tackle Your Budget<\/p>\n
Centennial Colorado aerial view<\/p>\n
Average retirement age: 65<\/p>\n
Annual cost of a comfortable retirement: $60,357<\/p>\n
Retirement savings needed: $905,350<\/p>\n
Check Out: Best Cities To Retire on a Budget of $1,500 a Month<\/p>\n
Hartford Connecticut in the fall<\/p>\n
Average retirement age: 65<\/p>\n
Annual cost of a comfortable retirement: $70,817<\/p>\n
Retirement savings needed: $1,062,257<\/p>\n
Read: Tips To Keep Your Finances in Order Without Sacrificing What You Want<\/p>\n
State Capitol Building of Delaware.<\/p>\n
Average retirement age: 63<\/p>\n
Annual cost of a comfortable retirement: $58,418<\/p>\n
Retirement savings needed: $993,101<\/p>\n
Related: 17 Dumb Home-Buying Mistakes That Hurt Your Wallet<\/p>\n
Washington's city street and post office tower at sunrise, Washington, DC, USA.<\/p>\n
Average retirement age: 67<\/p>\n
Annual cost of a comfortable retirement: $94,248<\/p>\n
Retirement savings needed: $1,225,222<\/p>\n
Try: 50 Easy Things You Should Do To Save Money<\/p>\n
Naples, Florida, USA downtown skyline at dusk.<\/p>\n
Average retirement age: 64<\/p>\n
Annual cost of a comfortable retirement: $56,382<\/p>\n
Retirement savings needed: $902,116<\/p>\n
Stop Now: 50 Terrible Ways To Try and Save Money<\/p>\n
Helen, Georgia, USA - May 7, 2013: The square in the Appalachian town of Helen.<\/p>\n
Average retirement age: 63<\/p>\n
Annual cost of a comfortable retirement: $50,066<\/p>\n
Retirement savings needed: $851,122<\/p>\n
Find Out: Things To Cut Out Right Now To Save Money During the Health Crisis<\/p>\n
Palm tree silhouette at sunset, Hawaii, USA.<\/p>\n
Average retirement age: 66<\/p>\n
Annual cost of a comfortable retirement: $120,909<\/p>\n
Retirement savings needed: $1,692,722<\/p>\n
Read: 25 Tips for Saving Money With Your Spouse<\/p>\n
City of Idaho Falls in Idaho State showing famous landmark church in autumn, USA.<\/p>\n
Average retirement age: 64<\/p>\n
Annual cost of a comfortable retirement: $52,962<\/p>\n
Retirement savings needed: $847,388<\/p>\n
Helpful: 16 Effective Ways To Trick Yourself Into Saving Money<\/p>\n
Old State Capitol in Springfield, Illinois - Image.<\/p>\n
Average retirement age: 64<\/p>\n
Annual cost of a comfortable retirement: $54,657<\/p>\n
Retirement savings needed: $874,507<\/p>\n
Good To Know: 16 Splurges That Save You Money in the Long Run<\/p>\n
Indianapolis, Indiana canal walk<\/p>\n
Average retirement age: 63<\/p>\n
Annual cost of a comfortable retirement: $50,697<\/p>\n
Retirement savings needed: $861,848<\/p>\n
Keep Reading: 25 Ways To Save 20% More of Your Paycheck Without Even Trying<\/p>\n
Morning in Des Moines, Iowa.<\/p>\n
Average retirement age: 65<\/p>\n
Annual cost of a comfortable retirement: $52,399<\/p>\n
Retirement savings needed: $785,982<\/p>\n
Try: Cutting Out These 25 Expenses Will Save You $16,142.08 a Year<\/p>\n
Wichita, Kansas, USA - Augusst 31, 2018: The confluence of the Arkansas and Little Arkansas River at the Keeper of the Plains near downtown Wichita at dawn.<\/p>\n
Average retirement age: 65<\/p>\n
Annual cost of a comfortable retirement: $50,223<\/p>\n
Retirement savings needed: $753,339<\/p>\n
Learn More: Surprising Ways Gen Z and Millennials Are Worlds Apart Financially<\/p>\n
Frankfort, Kentucky, USA town skyline on the Kentucky River at dusk.<\/p>\n
Average retirement age: 62<\/p>\n
Annual cost of a comfortable retirement: $51,082<\/p>\n
Retirement savings needed: $919,469<\/p>\n
Exclusive: Americans Savings Drop to Lowest Point in Years<\/p>\n
The St.<\/p>\n
Average retirement age: 62<\/p>\n
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More here:<\/p>\n
The Average Retirement Age in Every State - Yahoo Finance<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" skynesher \/ Getty Images 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 Continue reading