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To find how much money a retired person would need to save, we divided each state’s annual expenditures, minus the annual Social Security income as sourced from the Social Security ...
The wealthiest state for average retirement savings is Connecticut, at $545,754, with Alaska and Vermont following closely at $503,822 and $494,569, respectively.
The state also ranked high for overall financial health, thanks to high disposable income, which averages $73,888 per capita. That means Connecticut residents have more money available to save.
For many Americans, balances in an employer-sponsored 401(k) retirement plan are on the lower end. Here are the 10 states with the lowest average 401(k) balances, as well as factors that come into ...
This article includes a list of U.S. states that have highest portion of savings (i.e. pensions, investment products, 401(k)); regular savings account, certificate of deposit, or Individual Retirement Account. The increase in people has also increased the Nest Egg index within a given year.
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 Nesters Should Stop Investing In To Boost Retirement ...
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