Yahoo Finance Early Retirement: How Much Savings Is Needed To Retire by 50 in Every State
Most Americans dream about an early retirement, but retiring early requires setting aside a substantial nest egg to fund the next chapter. As human lifespans get increasingly longer, the amount of money in savings must also increase regardless of how much you expect to receive in Social Security benefits.
To determine how much savings is needed to retire by age 50, GOBankingRates analyzed each state’s cost of living indexes. The national average expenditure costs for residents born between 1965 and 1980 were sourced to calculate the average expenditure costs for each state. Additional factors sourced for each state include the average single family home value, mortgage cost and Social Security benefits. Assuming someone retires at 50, GOBankingRates calculated the cost of living amount needed for those ages 80, 85, 90 and 95.
Keep reading to find out how much you’ll need in savings if you’re planning to retire by 50.
Also, see these tips for early retirement.
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Alabama
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,286,912
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,258,915
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,501,397
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,464,068
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $1,715,882
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $1,669,221
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $1,930,368
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $1,874,374
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Alaska
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,941,503
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,913,507
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $2,265,087
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $2,227,759
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $2,588,671
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $2,542,010
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,912,255
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,856,262
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Arizona
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,810,899
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,782,902
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $2,112,715
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $2,075,387
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $2,414,532
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $2,367,871
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,716,348
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,660,355
Arkansas
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,223,737
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,195,741
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,427,694
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,390,365
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $1,631,650
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $1,584,989
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $1,835,606
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $1,779,613
California
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $2,737,299
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $2,709,302
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $3,193,515
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $3,156,186
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $3,649,731
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $3,603,070
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $4,105,948
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $4,049,955
Colorado
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $2,070,176
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $2,042,179
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $2,415,205
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $2,377,876
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $2,760,234
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $2,713,573
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $3,105,264
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $3,049,271
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Connecticut
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,856,817
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,828,820
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $2,166,286
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $2,128,958
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $2,475,756
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $2,429,095
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,785,225
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,729,232
Delaware
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,696,714
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,668,718
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,979,500
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,942,171
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $2,262,286
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $2,215,625
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,545,072
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,489,078
District of Columbia (DC)
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $2,491,045
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $2,463,049
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $2,906,220
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $2,868,891
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $3,321,394
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $3,274,733
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $3,736,568
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $3,680,575
Florida
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,735,325
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,707,328
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $2,024,546
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,987,217
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $2,313,767
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $2,267,106
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,602,987
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,546,994
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Georgia
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,527,994
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,499,997
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,782,659
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,745,331
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $2,037,325
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $1,990,664
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,291,991
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,235,997
Hawaii
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $3,235,126
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $3,207,130
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $3,774,314
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $3,736,985
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $4,313,501
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $4,266,840
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $4,852,689
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $4,796,696
Idaho
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,829,015
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,801,018
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $2,133,850
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $2,096,522
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $2,438,686
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $2,392,025
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,743,522
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,687,529
Illinois
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,407,780
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,379,783
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,642,410
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,605,081
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $1,877,040
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $1,830,379
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,111,670
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,055,676
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Indiana
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,364,714
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,336,717
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,592,166
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,554,837
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $1,819,618
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $1,772,957
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,047,070
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $1,991,077
Iowa
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,315,883
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,287,886
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,535,197
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,497,868
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $1,754,511
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $1,707,850
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $1,973,825
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $1,917,831
Kansas
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,317,609
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,289,612
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,537,211
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,499,882
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $1,756,812
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $1,710,151
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $1,976,414
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $1,920,420
Kentucky
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,255,975
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,227,978
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,465,304
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,427,975
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $1,674,633
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $1,627,972
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $1,883,962
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $1,827,969
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Louisiana
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,237,423
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,209,426
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,443,660
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,406,331
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $1,649,897
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $1,603,236
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $1,856,134
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $1,800,141
Maine
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,759,081
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,731,084
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $2,052,261
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $2,014,932
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $2,345,441
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $2,298,780
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,638,621
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,582,628
Maryland
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,805,598
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,777,601
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $2,106,531
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $2,069,202
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $2,407,464
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $2,360,803
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,708,397
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,652,404
Massachusetts
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $2,395,089
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $2,367,092
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $2,794,270
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $2,756,941
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $3,193,452
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $3,146,791
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $3,592,633
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $3,536,640
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Michigan
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,356,074
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,328,077
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,582,086
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,544,758
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $1,808,099
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $1,761,438
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,034,111
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $1,978,118
Minnesota
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,588,175
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,560,178
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,852,870
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,815,542
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $2,117,566
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $2,070,905
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,382,262
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,326,269
Mississippi
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,172,011
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,144,014
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,367,346
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,330,017
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $1,562,681
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $1,516,020
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $1,758,016
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $1,702,023
Missouri
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,330,084
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,302,087
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,551,764
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,514,435
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $1,773,445
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $1,726,784
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $1,995,125
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $1,939,132
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Montana
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,872,042
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,844,046
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $2,184,049
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $2,146,721
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $2,496,056
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $2,449,395
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,808,063
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,752,070
Nebraska
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,384,482
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,356,486
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,615,230
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,577,901
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $1,845,977
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $1,799,316
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,076,724
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,020,731
Nevada
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,862,185
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,834,189
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $2,172,549
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $2,135,221
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $2,482,914
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $2,436,253
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,793,278
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,737,285
New Hampshire
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $2,039,598
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $2,011,601
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $2,379,531
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $2,342,202
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $2,719,464
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $2,672,803
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $3,059,397
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $3,003,404
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New Jersey
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $2,053,695
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $2,025,698
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $2,395,978
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $2,358,649
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $2,738,260
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $2,691,599
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $3,080,543
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $3,024,549
New Mexico
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,471,269
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,443,272
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,716,480
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,679,152
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $1,961,692
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $1,915,031
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,206,903
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,150,910
New York
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,854,421
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,826,424
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $2,163,491
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $2,126,162
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $2,472,561
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $2,425,900
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,781,631
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,725,638
North Carolina
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,556,298
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,528,301
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,815,681
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,778,352
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $2,075,064
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $2,028,403
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,334,447
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,278,454
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North Dakota
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,426,328
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,398,332
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,664,050
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,626,721
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $1,901,771
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $1,855,110
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,139,492
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,083,499
Ohio
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,353,180
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,325,183
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,578,710
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,541,381
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $1,804,240
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $1,757,579
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,029,769
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $1,973,776
Oklahoma
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,248,782
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,220,785
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,456,912
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,419,583
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $1,665,042
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $1,618,381
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $1,873,172
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $1,817,179
Oregon
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $2,018,729
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,990,732
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $2,355,184
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $2,317,855
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $2,691,638
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $2,644,977
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $3,028,093
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,972,100
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Pennsylvania
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,447,094
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,419,097
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,688,276
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,650,947
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $1,929,458
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $1,882,797
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,170,641
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,114,647
Rhode Island
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,897,748
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,869,752
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $2,214,039
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $2,176,711
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $2,530,331
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $2,483,670
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,846,622
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,790,629
South Carolina
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,469,550
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,441,554
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,714,475
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,677,147
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $1,959,400
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $1,912,739
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,204,326
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,148,332
South Dakota
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,472,038
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,444,041
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,717,377
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,680,048
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $1,962,717
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $1,916,056
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,208,056
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,152,063
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Tennessee
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,477,936
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,449,940
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,724,259
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,686,930
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $1,970,582
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $1,923,921
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,216,904
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,160,911
Texas
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,475,895
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,447,898
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,721,877
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,684,549
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $1,967,860
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $1,921,199
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,213,842
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,157,849
Utah
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,983,235
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,955,239
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $2,313,774
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $2,276,446
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $2,644,314
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $2,597,653
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,974,853
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,918,860
Vermont
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,780,653
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,752,657
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $2,077,429
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $2,040,100
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $2,374,204
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $2,327,543
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,670,980
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,614,987
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Virginia
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,710,257
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,682,260
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,995,300
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,957,971
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $2,280,343
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $2,233,682
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,565,386
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,509,392
Washington
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $2,282,417
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $2,254,421
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $2,662,820
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $2,625,492
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $3,043,223
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $2,996,562
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $3,423,626
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $3,367,633
West Virginia
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,178,761
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,150,765
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,375,222
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,337,893
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $1,571,682
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $1,525,021
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $1,768,142
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $1,712,149
Wisconsin
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,531,338
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,503,342
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,786,561
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,749,232
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $2,041,784
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $1,995,123
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,297,007
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,241,014
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Wyoming
Live to 80
Total CoL if you live to 80 (30 years of retirement, no Social Security): $1,565,910
Total CoL if you live to 80 (30 years of retirement, Social Security at age 65): $1,537,913
Live to 85
Total CoL if you live to 85 (35 years of retirement, no Social Security): $1,826,895
Total CoL if you live to 85 (35 years of retirement, Social Security at age 65): $1,789,566
Live to 90
Total CoL if you live to 90 (40 years of retirement, no Social Security): $2,087,879
Total CoL if you live to 90 (40 years of retirement, Social Security at age 65): $2,041,218
Live to 95
Total CoL if you live to 95 (45 years of retirement, no Social Security): $2,348,864
Total CoL if you live to 95 (45 years of retirement, Social Security at age 65): $2,292,871
Methodology: For this study, GOBankingRates analyzed the cost of living for each state to find how much is needed to retire by 50 in every state. First, GOBankingRates found the cost of living indexes for each state as sourced from Missouri Economic and Research Information Center. The national average expenditure costs for residents born between 1965 and 1980 were sourced from the Bureau of Labor Statistics Consumer Expenditure Survey and used to calculate the average expenditure costs for each state. The average single family home value was sourced from Zillow Home Value Index for May 2024. By assuming a 10% down payment and using the national average 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data, the average mortgage cost for each state was calculated. The average Social Security benefits were sourced from the Social Security Administration for residents aged 65 and over. By assuming someone retires at 50, GOBankingRates calculated the cost of living amount needed for various ages. GOBankingRates estimated the individual will take Social Security Benefits at the age of 65 to avoid penalties and calculated the amount needed after Social Security Benefits. The Social Security Benefits are also assumed to stay the same throughout the retirement years. GOBankingRates used the ages of 80, 85, 90, 95 and 100. All data was collected on and is up to date as of July 1st, 2024.
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This article originally appeared on GOBankingRates.com: Early Retirement: How Much Savings Is Needed To Retire by 50 in Every State
