The amount of money needed for a comfortable retirement varies by state in the United States.

The location of your retirement can be just as significant as the amount of savings you have, due to the significant differences in the cost of living among states.

The cost of a comfortable retirement can vary by as much as $67,981 depending on the state you choose to live in, according to a recent GOBankingRates analysis of all 50 U.S. states.

On average, retirees in Hawaii need $129,296 to live comfortably, which is more than twice the amount needed in Mississippi, where retirees need $61,315.

To determine the annual retirement expenses for Americans aged 65 and above in each state, a study employed Bureau of Labor Statistics data for food, housing, transportation, healthcare, and utility expenses. A 20% cash reserve was added to this total to ensure that retirees could live comfortably, according to the study. The study found that housing is the most significant factor in the cost of living in each state. In Hawaii, the high demand and limited space for homes have resulted in some of the highest housing costs in the country.

Rural states, including Mississippi, have low home prices and property taxes, contributing to lower retirement expenses.

Below are the annual retirement expenses for every state, in alphabetical order.

Alabama

Total expenditures: $50,980
20% comfort buffer: $10,196
Cost of a comfortable retirement annually: $61,176

Alaska

Total expenditures: $72,390
20% comfort buffer: $14,478
Cost of a comfortable retirement annually: $86,868

Arizona

Total expenditures: $63,942
20% comfort buffer: $12,788
Cost of a comfortable retirement annually: $76,730

Arkansas

Total expenditures: $51,211
20% comfort buffer: $10,242
Cost of a comfortable retirement annually: $61,454

California

Total expenditures: $83,906
20% comfort buffer: $16,781
Cost of a comfortable retirement annually: $100,687

Colorado

Total expenditures: $58,908
20% comfort buffer: $11,782
Cost of a comfortable retirement annually: $70,689

Connecticut

Total expenditures: $65,504
20% comfort buffer: $13,101
Cost of a comfortable retirement annually: $78,605

Delaware

Total expenditures: $58,387
20% comfort buffer: $11,677
Cost of a comfortable retirement annually: $70,064

Florida

Total expenditures: $59,660
20% comfort buffer: $11,932
Cost of a comfortable retirement annually: $71,592

Georgia

Total expenditures: $52,832
20% comfort buffer: $10,566
Cost of a comfortable retirement annually: $63,398

Hawaii

Total expenditures: $107,746
20% comfort buffer: $21,549
Cost of a comfortable retirement annually: $129,296

Idaho

Total expenditures: $58,503
20% comfort buffer: $11,701
Cost of a comfortable retirement annually: $70,203

Illinois

Total expenditures: $53,989
20% comfort buffer: $10,798
Cost of a comfortable retirement annually: $64,787

Indiana

Total expenditures: $52,253
20% comfort buffer: $10,451
Cost of a comfortable retirement annually: $62,704

Iowa

Total expenditures: $52,137
20% comfort buffer: $10,427
Cost of a comfortable retirement annually: $62,565

Kansas

Total expenditures: $50,517
20% comfort buffer: $10,103
Cost of a comfortable retirement annually: $60,620

Kentucky

Total expenditures: $53,584
20% comfort buffer: $10,717
Cost of a comfortable retirement annually: $64,301

Louisiana

Total expenditures: $53,295
20% comfort buffer: $10,659
Cost of a comfortable retirement annually: $63,954

Maine

Total expenditures: $64,405
20% comfort buffer: $12,881
Cost of a comfortable retirement annually: $77,286

Maryland

Total expenditures: $67,240
20% comfort buffer: $13,448
Cost of a comfortable retirement annually: $80,688

Massachusetts

Total expenditures: $83,501
20% comfort buffer: $16,700
Cost of a comfortable retirement annually: $100,201

Michigan

Total expenditures: $53,121
20% comfort buffer: $10,624
Cost of a comfortable retirement annually: $63,745

Minnesota

Total expenditures: $54,857
20% comfort buffer: $10,971
Cost of a comfortable retirement annually: $65,828

Mississippi

Total expenditures: $51,096
20% comfort buffer: $10,219
Cost of a comfortable retirement annually: $61,315

Missouri

Total expenditures: $51,211
20% comfort buffer: $10,242
Cost of a comfortable retirement annually: $61,454

Montana

Total expenditures: $54,741
20% comfort buffer: $10,948
Cost of a comfortable retirement annually: $65,689

Nebraska

Total expenditures: $54,047
20% comfort buffer: $10,809
Cost of a comfortable retirement annually: $64,856

Nevada

Total expenditures: $59,428
20% comfort buffer: $11,886
Cost of a comfortable retirement annually: $71,314

New Hampshire

Total expenditures: $65,736
20% comfort buffer: $13,147
Cost of a comfortable retirement annually: $78,883

New Jersey

Total expenditures: $65,794
20% comfort buffer: $13,159
Cost of a comfortable retirement annually: $78,952

New Mexico

Total expenditures: $54,163
20% comfort buffer: $10,833
Cost of a comfortable retirement annually: $64,995

New York

Total expenditures: $71,233
20% comfort buffer: $14,247
Cost of a comfortable retirement annually: $85,480

North Carolina

Total expenditures: $56,998
20% comfort buffer: $11,400
Cost of a comfortable retirement annually: $68,398

North Dakota

Total expenditures: $53,700
20% comfort buffer: $10,740
Cost of a comfortable retirement annually: $64,440

Ohio

Total expenditures: $54,394
20% comfort buffer: $10,879
Cost of a comfortable retirement annually: $65,273

Oklahoma

Total expenditures: $49,996
20% comfort buffer: $9,999
Cost of a comfortable retirement annually: $59,995

Oregon

Total expenditures: $66,025
20% comfort buffer: $13,205
Cost of a comfortable retirement annually: $79,230

Pennsylvania

Total expenditures: $55,320
20% comfort buffer: $11,064
Cost of a comfortable retirement annually: $66,384

Rhode Island

Total expenditures: $65,620
20% comfort buffer: $13,124
Cost of a comfortable retirement annually: $78,744

South Carolina

Total expenditures: $56,477
20% comfort buffer: $11,295
Cost of a comfortable retirement annually: $67,773

South Dakota

Total expenditures: $54,047
20% comfort buffer: $10,809
Cost of a comfortable retirement annually: $64,856

Tennessee

Total expenditures: $52,253
20% comfort buffer: $10,451
Cost of a comfortable retirement annually: $62,704

Texas

Total expenditures: $53,468
20% comfort buffer: $10,694
Cost of a comfortable retirement annually: $64,162

Utah

Total expenditures: $59,544
20% comfort buffer: $11,909
Cost of a comfortable retirement annually: $71,453

Vermont

Total expenditures: $66,372
20% comfort buffer: $13,274
Cost of a comfortable retirement annually: $79,647

Virginia

Total expenditures: $58,618
20% comfort buffer: $11,724
Cost of a comfortable retirement annually: $70,342

Washington

Total expenditures: $66,604
20% comfort buffer: $13,321
Cost of a comfortable retirement annually: $79,925

West Virginia

Total expenditures: $48,492
20% comfort buffer: $9,698
Cost of a comfortable retirement annually: $58,190

Wisconsin

Total expenditures: $56,130
20% comfort buffer: $11,226
Cost of a comfortable retirement annually: $67,356

Wyoming

Total expenditures: $55,031
20% comfort buffer: $11,006
Cost of a comfortable retirement annually: $66,037

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