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How Much Money Do You Need to Retire?
Well, the answer largely depends on where you plan to retire, considering the cost of living where ever that is. Fact is, the cost of living is a variable which varies greatly by U.S. state, so how much you will need to retire comfortably is greatly influenced by your choice of retirement location. If, for example, you plan to retire in Hawaii, you would need a considerably higher nest egg than if you plan to retire in West Virginia. In fact, Hawaii has the highest cost of living while West Virginia the lowest of any U.S. state, with all other states falling in between. This CNBC article by Mike Winters reveals annual cost of living numbers, as well as the projected amount of savings you should have before retiring, in each U.S. state. Click here to read more.
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