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Amount needed to retire comfortably in every U.S. state
Retirees move for many reasons, with weather and family among them. But finances should count too; Mike Winters of cnbc.com has a list of what is needed to retire comfortably in each of the 50 states. The amount varies by as much as $66,000 between states — with Hawaii costing the most by far — according to a recent GOBankingRates analysis of retirement expenses in all 50 states and D.C.
To determine the annual retirement costs for Americans aged 65+ in each state, the study used Bureau of Labor Statistics estimates for food, shelter, transportation, health care and utility costs. An additional cash buffer of 20% of that total was added to ensure that retirees would be “comfortable,” according to the study. Full article with all states ranked is here.