Thinking of Retiring? Here’s the Average Retirement Age In Your State

If you are financially ok to retire, which means you have a solid grasp of your budget, a carefully considered investment and spending plan for your life savings, debt that’s under control, and a plan you’re excited about for how you’ll spend your days, maybe you should actually consider it. 

Here’s a list of the average retirement age in every state, plus the retirement savings needed to help you make your decisions. 

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Alabama

  • Average retirement age: 62
  • Annual cost of a comfortable retirement: $49,099
  • Retirement savings needed: $883,790

Alaska

  • Average retirement age: 61
  • Annual cost of a comfortable retirement: $79,249
  • Retirement savings needed: $1,505,740

Arizona

  • Average retirement age: 63

  • Annual cost of a comfortable retirement: $58,327

  • Retirement savings needed: $991,560

Arkansas

  • Average retirement age: 62
  • Annual cost of a comfortable retirement: $47,836
  • Retirement savings needed: $861,053

California

  • Average retirement age: 64
  • Annual cost of a comfortable retirement: $83,279
  • Retirement savings needed: $1,332,457

Colorado

  • Average retirement age: 65

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

  • Retirement savings needed: $905,350

Connecticut

  • Average retirement age: 65
  • Annual cost of a comfortable retirement: $70,817
  • Retirement savings needed: $1,062,257

Delaware

  • Average retirement age: 63
  • Annual cost of a comfortable retirement: $58,418
  • Retirement savings needed: $993,101

District of Columbia

  • Average retirement age: 67

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

  • Retirement savings needed: $1,225,222

Florida

  • Average retirement age: 64
  • Annual cost of a comfortable retirement: $56,382
  • Retirement savings needed: $902,116

Georgia

  • Average retirement age: 63
  • Annual cost of a comfortable retirement: $50,066
  • Retirement savings needed: $851,122

Hawaii

  • Average retirement age: 66

  • Annual cost of a comfortable retirement: $120,909

  • Retirement savings needed: $1,692,722

Idaho

  • Average retirement age: 64
  • Annual cost of a comfortable retirement: $52,962
  • Retirement savings needed: $847,388

Illinois

  • Average retirement age: 64
  • Annual cost of a comfortable retirement: $54,657
  • Retirement savings needed: $874,507

Indiana

  • Average retirement age: 63

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

  • Retirement savings needed: $861,848

Iowa

  • Average retirement age: 65
  • Annual cost of a comfortable retirement: $52,399
  • Retirement savings needed: $785,982

Kansas

  • Average retirement age: 65
  • Annual cost of a comfortable retirement: $50,223
  • Retirement savings needed: $753,339

Kentucky

  • Average retirement age: 62

  • Annual cost of a comfortable retirement: $51,082

  • Retirement savings needed: $919,469

Louisiana

  • Average retirement age: 62
  • Annual cost of a comfortable retirement: $52,695
  • Retirement savings needed: $948,503

Maine

  • Average retirement age: 63
  • Annual cost of a comfortable retirement: $66,752
  • Retirement savings needed: $1,134,778
Maryland
  • Average retirement age: 65

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

  • Retirement savings needed: $1,096,666

Massachusetts

  • Average retirement age: 66
  • Annual cost of a comfortable retirement: $77,122
  • Retirement savings needed: $1,079,710

Michigan

  • Average retirement age: 62
  • Annual cost of a comfortable retirement: $51,356
  • Retirement savings needed: $924,415

Minnesota

  • Average retirement age: 65

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

  • Retirement savings needed: $853,040

Mississippi

  • Average retirement age: 63
  • Annual cost of a comfortable retirement: $46,993
  • Retirement savings needed: $798,874

Missouri

  • Average retirement age: 63
  • Annual cost of a comfortable retirement: $50,247
  • Retirement savings needed: $854,197

Montana

  • Average retirement age: 64

  • Annual cost of a comfortable retirement: $55,711

  • Retirement savings needed: $891,368

Nebraska

  • Average retirement age: 65
  • Annual cost of a comfortable retirement: $52,439
  • Retirement savings needed: $786,583

Nevada

  • Average retirement age: 63
  • Annual cost of a comfortable retirement: $63,300
  • Retirement savings needed: $1,076,107

New Hampshire

  • Average retirement age: 65

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

  • Retirement savings needed: $930,159

New Jersey

  • Average retirement age: 65
  • Annual cost of a comfortable retirement: $67,764
  • Retirement savings needed: $1,016,461

New Mexico

  • Average retirement age: 62
  • Annual cost of a comfortable retirement: $51,556
  • Retirement savings needed: $928,181

New York

  • Average retirement age: 64

  • Annual cost of a comfortable retirement: $77,911

  • Retirement savings needed: $1,246,578

North Carolina

  • Average retirement age: 63
  • Annual cost of a comfortable retirement: $54,687
  • Retirement savings needed: $929,686

North Dakota

  • Average retirement age: 65
  • Annual cost of a comfortable retirement: $57,060
  • Retirement savings needed: $855,904

Ohio

  • Average retirement age: 63
  • Annual cost of a comfortable retirement: $51,817
  • Retirement savings needed: $880,889

Oklahoma

  • Average retirement age: 62
  • Annual cost of a comfortable retirement: $48,716
  • Retirement savings needed: $876,879

Oregon

  • Average retirement age: 63
  • Annual cost of a comfortable retirement: $78,439
  • Retirement savings needed: $1,333,467

Pennsylvania

  • Average retirement age: 64
  • Annual cost of a comfortable retirement: $57,941
  • Retirement savings needed: $927,056

Rhode Island

  • Average retirement age: 65
  • Annual cost of a comfortable retirement: $67,594
  • Retirement savings needed: $1,013,904

South Carolina

  • Average retirement age: 63
  • Annual cost of a comfortable retirement: $53,207
  • Retirement savings needed: $904,527

South Dakota

  • Average retirement age: 66
  • Annual cost of a comfortable retirement: $56,178
  • Retirement savings needed: $786,497

Tennessee

  • Average retirement age: 64
  • Annual cost of a comfortable retirement: $50,186
  • Retirement savings needed: $802,977

Texas

  • Average retirement age: 65
  • Annual cost of a comfortable retirement: $52,341
  • Retirement savings needed: $785,109

Utah

  • Average retirement age: 65
  • Annual cost of a comfortable retirement: $54,363
  • Retirement savings needed: $815,449

Vermont

  • Average retirement age: 65
  • Annual cost of a comfortable retirement: $67,651
  • Retirement savings needed: $1,014,762

Virginia

  • Average retirement age: 65
  • Annual cost of a comfortable retirement: $58,120
  • Retirement savings needed: $871,793

Washington

  • Average retirement age: 64
  • Annual cost of a comfortable retirement: $64,636
  • Retirement savings needed: $1,034,174

West Virginia

  • Average retirement age: 61
  • Annual cost of a comfortable retirement: $49,439
  • Retirement savings needed: $939,341

Wisconsin

  • Average retirement age: 64
  • Annual cost of a comfortable retirement: $56,434
  • Retirement savings needed: $902,942

Wyoming

  • Average retirement age: 64

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

  • Retirement savings needed: $837,287

Overall, your financial situation should be stable before you decide to retire: A detailed projection of your retirement income and expenses is key. You should also be able to understand how taxes, inflation, and healthcare will affect your nest egg.

Lastly, if you’re still happily working, don’t let an arbitrary age determine when to retire.

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