10 states where retirement savings last the longest

While people live longer and spend more time, it is more important than ever to plan life after your work.

To make things even more complicated, the current trade war has created a delicate economic backdrop for the older Americans to retire, which made their pensions delay, wait to perceive social security or “non-retrait” and return to work.

This is why being intelligent on the place where you live in your golden years can have large -scale consequences, because housing costs – whether it is a mortgage, land tax or rent expenses – are generally most of your monthly expenses.

The financial technology company has compiled data on the retirement economies of Americans across the country. The quantity you need in retirement varies, but the basic rule is that when you retire, you should aim to have about 10 times your salary saved. Half, noted that Americans aged 55 to 64 generally saved an average of $ 537,650 and a median of $ 185,000 – which means that there is a great variability of the amounts that people have saved.

When calculating the amount of money you need for a comfortable retirement, take into account annual expenses such as housing, public services, transport and health care – and also take into account in an additional 20% stamp for unexpected costs.

Depending on the state in which you withdraw, the cost of living could fluctuate wildly. A examined in lace the average retirement savings and the annual expenses expected for a comfortable retirement for each state in order to calculate the duration of the duration of a retirement nest egg in different parts of the country.

While annual expenses to retire comfortably in many states have hovered in the range of $ 60,000 to $ 80,000, some states have taken the cake for life costs. In Hawaii, the average annual expenses were $ 129,296. California was the second most expensive state, annual retirement expenses reached $ 100,687. In these states, retirement savings will only last 2.8 and 4.5 years, respectively.

On the other hand, Kansas takes first place for retired lasting subsistence costs – retirement savings last 7.5 years on average.

Here are the first ten states where retirees can make the most of them for their money. The average amount of savings at the time of retirement, annual retirement expenses and the number of years of retirement savings will also last.