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GOBankingRates then calculated how much savings you would need to retire comfortably for various retirement ages. All data was collected and is up to date as of Feb. 2, 2024. All data was ...
Michigan. Cost-of-living index: 92.3. Annual cost of living: $55,460. Annual expenditures after Social Security: $33,023. ... How much savings you need to retire: $2,212,084. Methodology: In order ...
1. West Virginia. Annual cost of living: $49,260.94 Cost of living after using Social Security income: $27,123.82 How much you need in savings to retire: $678,095.40 Find Out: 2 Things Empty ...
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Cost of 20 years of comfortable retirement: $949,365. How much you need to save monthly for 20 years of comfortable retirement (through age 85): If you start at age 20: $1,758. If you start at age ...
Specifically, for a comfortable retirement to age 85, you'll need $3,105,384. To reach this, GoBankingRates explained you'd need to "start saving $5,751 a month at age 20 or $7,394 a month at age ...
For example, if you live in a colder climate like Michigan, you might pay upwards of $4,236 a year in retirement. Learn More: 3 Things Retirees Should Sell To Build Their Retirement Savings ...
Wyoming. Amount Needed to Retire by 35: $3,187,981. Amount Needed to Retire by 45: $2,300,308. Amount Needed to Retire by 55: $1,366,510. Annual expenditures in Wyoming range from $48,387 at age ...