Report: The Most Realistic Retirement Age in Every State

Most Americans dream of retiring one day, but for that goal is more achievable for some people than others. The retirement age that’s most attainable for you is largely related to where you live, according to a new report.

Finance site GOBankingRates has released a list of realistic retirement ages for residents in every state. The list can be used as a barometer to see how much you need to save before you can retire comfortably.

Realistic Retirement Age in Every State

To find out the most realistic retirement age state by state, GOBankingRates used its own data in concert with that of the Census Bureau and based it on the following assumptions:

Employment began at age 22
“Workers followed the 50/30/20 rule — allocating 50% of personal income to necessities, 30% to wants and 20% to savings.”
Of the 20% put toward savings, “14% was put in a typical savings account and 6% was put into a 401(k) with a 50% employer match (up to 3%)” and an average annual return of 5%.

Let’s look at the most realistic retirement age state by state:

Alabama

Realistic retirement age: 59
How much savings you need to retire: $723,989
Total savings: $759,485

Alaska

Realistic retirement age: 64
How much savings you need to retire: $1,213,517
Total savings at 64: $1,301,392

Arizona

Realistic retirement age: 58
How much savings you need to retire: $862,583
Total savings at 58: $905,975

Arkansas

Realistic retirement age: 59
How much savings you need to retire: $697,288
Total savings at 59: $757,128

California

Realistic retirement age: 66
How much savings you need to retire: $1,369,911
Total savings at 66: $1,442,638

Colorado

Realistic retirement age: 56
How much savings you need to retire: $908,357
Total savings at 56: $970,746

Connecticut

Realistic retirement age: 62
How much savings you need to retire: $1,184,272
Total savings at 62: $1,263,773

Delaware

Realistic retirement age: 60
How much savings you need to retire: $960,488
Total savings at 60: $1,033,545

Florida

Realistic retirement age: 61
How much savings you need to retire: $843,510
Total savings at 61: $907,809

Georgia

Realistic retirement age: 57
How much savings you need to retire: $737,976
Total savings at 57: $776,321

Hawaii

Realistic retirement age: 74
How much savings you need to retire: $2,151,884
Total savings at 74: $2,252,310

Idaho

Realistic retirement age: 58
How much savings you need to retire: $797,736
Total savings at 58: $854,264

Illinois

Realistic retirement age: 54
How much savings you need to retire: $804,094
Total savings at 54: $850,543

Indiana

Realistic retirement age: 56
How much savings you need to retire: $745,605
Total savings at 56: $796,066

Iowa

Realistic retirement age: 54
How much savings you need to retire: $767,220
Total savings at 54: $833,240

Kansas

Realistic retirement age: 54
How much savings you need to retire: $703,645
Total savings at 54: $775,280

Kentucky

Realistic retirement age: 59
How much savings you need to retire: $774,849
Total savings at 59: $829,737

Louisiana

Realistic retirement age: 61
How much savings you need to retire: $773,578
Total savings at 61: $830,209

Maine

Realistic retirement age: 65
How much savings you need to retire: $1,083,824
Total savings at 65: $1,154,700

Maryland

Realistic retirement age: 59
How much savings you need to retire: $1,238,947
Total savings at 59: $1,311,381

Massachusetts

Realistic retirement age: 59
How much savings you need to retire: $1,249,119
Total savings at 59: $1,313,236

Michigan

Realistic retirement age: 55
How much savings you need to retire: $732,890
Total savings at 55: $767,587

Minnesota

Realistic retirement age: 56
How much savings you need to retire: $871,483
Total savings at 56: $954,570

Mississippi

Realistic retirement age: 61
How much savings you need to retire: $666,772
Total savings at 61: $710,727

Missouri

Realistic retirement age: 55
How much savings you need to retire: $725,261
Total savings at 55: $783,803

Montana

Realistic retirement age: 63
How much savings you need to retire: $963,031
Total savings at 63: $1,045,703

Nebraska

Realistic retirement age: 54
How much savings you need to retire: $758,320
Total savings at 54: $819,381

Nevada

Realistic retirement age: 59
How much savings you need to retire: $899,456
Total savings at 59: $940,900

New Hampshire

Realistic retirement age: 55
How much savings you need to retire: $956,674
Total savings at 55: $1,032,939

New Jersey

Realistic retirement age: 61
How much savings you need to retire: $1,174,100
Total savings at 61: $1,232,297

New Mexico

Realistic retirement age: 60
How much savings you need to retire: $720,175
Total savings at 60: $767,592

New York

Realistic retirement age: 66
How much savings you need to retire: $1,308,879
Total savings at 66: $1,376,839

North Carolina

Realistic retirement age: 60
How much savings you need to retire: $797,736
Total savings at 60: $848,448

North Dakota

Realistic retirement age: 56
How much savings you need to retire: $820,623
Total savings at 56: $883,964

Ohio

Realistic retirement age: 56
How much savings you need to retire: $772,306
Total savings at 56: $819,207

Oklahoma

Realistic retirement age: 56
How much savings you need to retire: $687,116
Total savings at 56: $723,520

Oregon

Realistic retirement age: 66
How much savings you need to retire: $1,334,309
Total savings at 66: $1,415,540

Pennsylvania

Realistic retirement age: 58
How much savings you need to retire: $874,026
Total savings at 58: $938,573

Rhode Island

Realistic retirement age: 64
How much savings you need to retire: $1,099,082
Total savings at 64: $1,178,929

South Carolina

Realistic retirement age: 59
How much savings you need to retire: $801,551
Total savings at 59: $873,676

South Dakota

Realistic retirement age: 58
How much savings you need to retire: $819,352
Total savings at 58: $864,955

Tennessee

Realistic retirement age: 56
How much savings you need to retire: $707,460
Total savings at 56: $745,133

Texas

Realistic retirement age: 57
How much savings you need to retire: $762,134
Total savings at 57: $831,450

Utah

Realistic retirement age: 53
How much savings you need to retire: $815,537
Total savings at 53: $887,851

Vermont

Realistic retirement age: 60
How much savings you need to retire: $1,060,937
Total savings at 60: $1,113,893

Virginia

Realistic retirement age: 54
How much savings you need to retire: $885,470
Total savings at 54: $935,494

Washington

Realistic retirement age: 56
How much savings you need to retire: $1,003,719
Total savings at 56: $1,059,694

West Virginia

Realistic retirement age: 60
How much savings you need to retire: $754,505
Total savings at 60: $803,997

Wisconsin

Realistic retirement age: 57
How much savings you need to retire: $811,723
Total savings at 57: $871,002

Wyoming

Realistic retirement age: 59
How much savings you need to retire: $889,284
Total savings at 59: $951,167

As you can see from the list, some of the most populated states have higher retirement ages. However, that doesn’t mean your retirement goals should be based strictly on where you live.

Money expert Clark Howard says anyone can save — if you have a plan. Here’s how to start off investing to save for retirement.