The Average Retirement Age in Every State

·7 min read
skynesher / iStock.com
skynesher / iStock.com

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.com
Sean Pavone / Shutterstock.com

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

Watch Out: 14 Key Signs You Will Run Out of Money in Retirement

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

Related: What Is a Roth IRA?

Tizod / Getty Images
Tizod / Getty Images

Arkansas

  • Average retirement age: 62

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

  • Retirement savings needed: $861,053

Read: 17 Biggest Budgeting Mistakes You’re Making

EQRoy / Shutterstock.com
EQRoy / Shutterstock.com

California

  • Average retirement age: 64

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

  • Retirement savings needed: $1,332,457

Helpful: 19 Effective Ways To Tackle Your Budget

Shutterstock.com
Shutterstock.com

Colorado

  • Average retirement age: 65

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

  • Retirement savings needed: $905,350

Check Out: Best Cities To Retire on a Budget of $1,500 a Month

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

Read: Tips To Keep Your Finances in Order Without Sacrificing What You Want

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

Related: 17 Dumb Home-Buying Mistakes That Hurt Your Wallet

zorazhuang / iStock.com
zorazhuang / iStock.com

District of Columbia

  • Average retirement age: 67

  • Annual cost of a comfortable retirement: $94,248

  • Retirement savings needed: $1,225,222

Try: 50 Easy Things You Should Do To Save Money

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
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

Read: 25 Tips for Saving Money With Your Spouse

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KingWu / Getty Images

Idaho

  • Average retirement age: 64

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

  • Retirement savings needed: $847,388

Helpful: 16 Effective Ways To Trick Yourself Into Saving Money

Randall Runtsch / Shutterstock.com
Randall Runtsch / Shutterstock.com

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
traveler1116 / Getty Images

Indiana

  • Average retirement age: 63

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

  • Retirement savings needed: $861,848

Keep Reading: 25 Ways To Save 20% More of Your Paycheck Without Even Trying

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.com
Sean Pavone / Shutterstock.com

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

davidmarxphoto / Shutterstock.com
davidmarxphoto / Shutterstock.com

Maine

  • Average retirement age: 63

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

  • Retirement savings needed: $1,134,778

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Shutterstock.com

Maryland

  • Average retirement age: 65

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

  • Retirement savings needed: $1,096,666

Work Plans: Chick-fil-A and 23 More Companies With Surprisingly Great 401(k) Plans

Taku Sanada / Getty Images
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.gaul / Getty Images/iStockphoto

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)

jimkruger / Getty Images
jimkruger / Getty Images

Minnesota

  • Average retirement age: 65

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

  • Retirement savings needed: $853,040

Read: 20 Hobbies of the Rich Only They Can Afford

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

Find Out: 31 Dumb Things That Are Keeping You From Being Wealthy

Sean Pavone / Shutterstock.com
Sean Pavone / Shutterstock.com

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.com

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
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
DenisTangneyJr / Getty Images/iStockphoto

New Hampshire

  • Average retirement age: 65

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

  • Retirement savings needed: $930,159

Learn: What Is a Savings Bond and How Does It Work?

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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

Read: 19 Things You’ll Need To Sacrifice Now for a Healthy Retirement

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
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

Read: Why It’s Harder To Save For Retirement Today Than 50 Years Ago

Davel5957 / Getty Images
Davel5957 / Getty Images

Oklahoma

  • Average retirement age: 62

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

  • Retirement savings needed: $876,879

See: 10 Signs You’re Not Saving Enough for Retirement

Bridget Moyer / Shutterstock.com
Bridget Moyer / Shutterstock.com

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
drnadig / Getty Images/iStockphoto

Pennsylvania

  • Average retirement age: 64

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

  • Retirement savings needed: $927,056

Read More: Is Now a Good Time To Raid Your 401(k)?

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
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
James_Gabbert / Getty Images

South Dakota

  • Average retirement age: 66

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

  • Retirement savings needed: $786,497

Read: 10 Simple Habits of Money-Smart Individuals

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Shutterstock.com

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.com
Roschetzky Photography / Shutterstock.com

Texas

  • Average retirement age: 65

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

  • Retirement savings needed: $785,109

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georgeclerk / iStock.com

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

Read: How Much It Cost To Retire in the Year You Were Born

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
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.com

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.com

Wisconsin

  • Average retirement age: 64

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

  • Retirement savings needed: $902,942

Learn: How One Man Saved $1 Million in 5 Years

troutfisherman / Getty Images
troutfisherman / Getty Images

Wyoming

  • Average retirement age: 64

  • Annual cost of a comfortable retirement: $52,330

  • Retirement savings needed: $837,287

More From GOBankingRates

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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