Dreaming of retiring in Hawaii? You need to start saving more than $5,000 every month, even if you plan to collect Social Security benefits. According to a new GOBankingRates study, Hawaii leads the nation with the highest annual cost of a comfortable living — at a whopping $181,505. That requires savings of about $5,800 a month, from age 20 through 65.
This is a far cry from the six states in the union where a comfortable retirement will run you less than $1,500 saved monthly.
Learn More: GOBankingRates Original Research Center
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To determine how much savings is needed monthly for a comfortable retirement in every state, GOBankingRates referred to the 50/30/20 finance rule and doubled the cost of living for necessities in every state.
The average Social Security income for a retired worker ($2,075 per month and $24,894 annually) was factored in to calculate 20 years of retirement, assuming a person retires at age 65 and lives to age 85. From there, the monthly savings needed to retire with and without Social Security income was calculated.
Key Findings
- It costs $100,000+ annually to live comfortably in 13 states. Besides Hawaii’s exorbitant $181,505, the other 12 states are California ($146,773), Massachusetts ($136,040), Washington ($119,994), New Jersey ($115,405), Colorado ($109,816), New Hampshire ($107,669), Oregon ($106,972), Rhode Island ($106,338), Utah ($105,471), Alaska ($102,726), New York ($102,674) and Connecticut ($102,521).
- You can retire comfortably in six states, if you start saving at least $1,500 every month from age 20 onward. A comfortable retirement in Kentucky ($1,490), Oklahoma ($1,455) Arkansas ($1,400), Louisiana ($1,391), Mississippi ($1,301) and West Virginia ($1,230) includes Social Security.
- Those getting a late start at age 30 can still enjoy and afford retirement if they set aside $2,000 every month in eight states: Iowa ($1,955), Alabama ($1,948), Kentucky ($1,915), Oklahoma ($1,871), Arkansas ($1,801), Louisiana ($1,789), Mississippi ($1,673) and West Virginia ($1,582). This monthly savings also factors in Social Security benefits.
- Even if you receive Social Security and you start saving at age 30, you need to save more than $4,000 per month to retire in six high-cost states. Hawaii requires the largest monthly savings at $7,458, followed by California ($5,804), Massachusetts ($5,293), Washington ($4,529), New Jersey ($4,310) and Colorado ($4,044).
Take a look at how much savings is needed monthly for a comfortable retirement in the United States. Plus, check out which 50 retirement towns are the nation’s wealthiest in 2026.
Alabama
- Population 65+ (%): 17.8%
- Median household income: $66,659
- Comfortable cost of living annually: $65,797
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $2,437
- Start saving at 30: $3,133
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $1,515
- Start saving at 30: $1,948
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Alaska
- Population 65+ (%): 13.8%
- Median household income: $95,665
- Comfortable cost of living annually: $102,726
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $3,805
- Start saving at 30: $4,892
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $2,883
- Start saving at 30: $3,706
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Arizona
- Population 65+ (%): 18.9%
- Median household income: $81,486
- Comfortable cost of living annually: $93,536
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $3,464
- Start saving at 30: $4,454
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $2,542
- Start saving at 30: $3,269
Arkansas
- Population 65+ (%): 17.6%
- Median household income: $62,106
- Comfortable cost of living annually: $62,705
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $2,322
- Start saving at 30: $2,986
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $1,400
- Start saving at 30: $1,801
California
- Population 65+ (%): 15.7%
- Median household income: $100,149
- Comfortable cost of living annually: $146,773
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $5,436
- Start saving at 30: $6,989
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $4,514
- Start saving at 30: $5,804
Colorado
- Population 65+ (%): 15.6%
- Median household income: $97,113
- Comfortable cost of living annually: $109,816
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $4,067
- Start saving at 30: $5,229
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $3,145
- Start saving at 30: $4,044
Connecticut
- Population 65+ (%): 18.5%
- Median household income: $96,049
- Comfortable cost of living annually: $102,521
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $3,797
- Start saving at 30: $4,882
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $2,875
- Start saving at 30: $3,697
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Delaware
- Population 65+ (%): 20.6%
- Median household income: $87,534
- Comfortable cost of living annually: $90,679
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $3,358
- Start saving at 30: $4,318
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $2,436
- Start saving at 30: $3,133
Florida
- Population 65+ (%): 21.3%
- Median household income: $77,735
- Comfortable cost of living annually: $88,339
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $3,272
- Start saving at 30: $4,207
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $2,350
- Start saving at 30: $3,021
Georgia
- Population 65+ (%): 15%
- Median household income: $79,991
- Comfortable cost of living annually: $80,244
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $2,972
- Start saving at 30: $3,821
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $2,050
- Start saving at 30: $2,636
Hawaii
- Population 65+ (%): 20.5%
- Median household income: $100,745
- Comfortable cost of living annually: $181,505
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $6,722
- Start saving at 30: $8,643
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $5,800
- Start saving at 30: $7,458
Idaho
- Population 65+ (%): 17%
- Median household income: $81,166
- Comfortable cost of living annually: $97,454
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $3,609
- Start saving at 30: $4,641
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $2,687
- Start saving at 30: $3,455
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Illinois
- Population 65+ (%): 17%
- Median household income: $83,211
- Comfortable cost of living annually: $75,061
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $2,780
- Start saving at 30: $3,574
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $1,858
- Start saving at 30: $2,389
Indiana
- Population 65+ (%): 16.8%
- Median household income: $71,959
- Comfortable cost of living annually: $69,021
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $2,556
- Start saving at 30: $3,287
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $1,634
- Start saving at 30: $2,101
Iowa
- Population 65+ (%): 18.1%
- Median household income: $75,501
- Comfortable cost of living annually: $65,953
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $2,443
- Start saving at 30: $3,141
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $1,521
- Start saving at 30: $1,955
Kansas
- Population 65+ (%): 17%
- Median household income: $75,514
- Comfortable cost of living annually: $68,853
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $2,550
- Start saving at 30: $3,279
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $1,628
- Start saving at 30: $2,093
Kentucky
- Population 65+ (%): 17.3%
- Median household income: $64,526
- Comfortable cost of living annually: $65,118
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $2,412
- Start saving at 30: $3,101
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $1,490
- Start saving at 30: $1,915
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Louisiana
- Population 65+ (%): 16.7%
- Median household income: $60,986
- Comfortable cost of living annually: $62,464
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $2,313
- Start saving at 30: $2,974
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $1,391
- Start saving at 30: $1,789
Maine
- Population 65+ (%): 22.4%
- Median household income: $76,442
- Comfortable cost of living annually: $94,055
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $3,484
- Start saving at 30: $4,479
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $2,562
- Start saving at 30: $3,293
Maryland
- Population 65+ (%): 16.7%
- Median household income: $102,905
- Comfortable cost of living annually: $98,013
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $3,630
- Start saving at 30: $4,667
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $2,708
- Start saving at 30: $3,482
Massachusetts
- Population 65+ (%): 17.9%
- Median household income: $104,828
- Comfortable cost of living annually: $136,040
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $5,039
- Start saving at 30: $6,478
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $4,116
- Start saving at 30: $5,293
Michigan
- Population 65+ (%): 18.6%
- Median household income: $72,389
- Comfortable cost of living annually: $68,321
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $2,530
- Start saving at 30: $3,253
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $1,608
- Start saving at 30: $2,068
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Minnesota
- Population 65+ (%): 17.3%
- Median household income: $87,117
- Comfortable cost of living annually: $83,026
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $3,075
- Start saving at 30: $3,954
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $2,153
- Start saving at 30: $2,768
Mississippi
- Population 65+ (%): 17.2%
- Median household income: $59,127
- Comfortable cost of living annually: $60,024
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $2,223
- Start saving at 30: $2,858
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $1,301
- Start saving at 30: $1,673
Missouri
- Population 65+ (%): 17.9%
- Median household income: $71,589
- Comfortable cost of living annually: $69,317
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $2,567
- Start saving at 30: $3,301
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $1,645
- Start saving at 30: $2,115
Montana
- Population 65+ (%): 20.1%
- Median household income: $75,340
- Comfortable cost of living annually: $96,999
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $3,593
- Start saving at 30: $4,619
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $2,671
- Start saving at 30: $3,434
Nebraska
- Population 65+ (%): 16.7%
- Median household income: $76,376
- Comfortable cost of living annually: $71,605
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $2,652
- Start saving at 30: $3,410
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $1,730
- Start saving at 30: $2,224
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Nevada
- Population 65+ (%): 17%
- Median household income: $81,134
- Comfortable cost of living annually: $95,499
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $3,537
- Start saving at 30: $4,548
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $2,615
- Start saving at 30: $3,362
New Hampshire
- Population 65+ (%): 20.1%
- Median household income: $99,782
- Comfortable cost of living annually: $107,669
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $3,988
- Start saving at 30: $5,127
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $3,066
- Start saving at 30: $3,942
New Jersey
- Population 65+ (%): 17.2%
- Median household income: $104,294
- Comfortable cost of living annually: $115,405
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $4,274
- Start saving at 30: $5,495
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $3,352
- Start saving at 30: $4,310
New Mexico
- Population 65+ (%): 19.3%
- Median household income: $67,816
- Comfortable cost of living annually: $77,999
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $2,889
- Start saving at 30: $3,714
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $1,967
- Start saving at 30: $2,529
New York
- Population 65+ (%): 17.9%
- Median household income: $85,820
- Comfortable cost of living annually: $102,674
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $3,803
- Start saving at 30: $4,889
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $2,881
- Start saving at 30: $3,704
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North Carolina
- Population 65+ (%): 17.2%
- Median household income: $73,958
- Comfortable cost of living annually: $81,989
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $3,037
- Start saving at 30: $3,904
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $2,115
- Start saving at 30: $2,719
North Dakota
- Population 65+ (%): 16.5%
- Median household income: $77,871
- Comfortable cost of living annually: $74,654
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $2,765
- Start saving at 30: $3,555
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $1,843
- Start saving at 30: $2,370
Ohio
- Population 65+ (%): 18.3%
- Median household income: $72,212
- Comfortable cost of living annually: $68,808
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $2,548
- Start saving at 30: $3,277
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $1,626
- Start saving at 30: $2,091
Oklahoma
- Population 65+ (%): 16.3%
- Median household income: $66,148
- Comfortable cost of living annually: $64,181
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $2,377
- Start saving at 30: $3,056
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $1,455
- Start saving at 30: $1,871
Oregon
- Population 65+ (%): 19.1%
- Median household income: $85,220
- Comfortable cost of living annually: $106,972
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $3,962
- Start saving at 30: $5,094
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $3,040
- Start saving at 30: $3,908
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Pennsylvania
- Population 65+ (%): 19.5%
- Median household income: $77,545
- Comfortable cost of living annually: $73,928
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $2,738
- Start saving at 30: $3,520
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $1,816
- Start saving at 30: $2,335
Rhode Island
- Population 65+ (%): 18.7%
- Median household income: $83,504
- Comfortable cost of living annually: $106,338
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $3,938
- Start saving at 30: $5,064
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $3,016
- Start saving at 30: $3,878
South Carolina
- Population 65+ (%): 18.9%
- Median household income: $72,350
- Comfortable cost of living annually: $75,991
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $2,814
- Start saving at 30: $3,619
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $1,892
- Start saving at 30: $2,433
South Dakota
- Population 65+ (%): 18%
- Median household income: $76,881
- Comfortable cost of living annually: $78,601
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $2,911
- Start saving at 30: $3,743
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $1,989
- Start saving at 30: $2,557
Tennessee
- Population 65+ (%): 17.1%
- Median household income: $71,997
- Comfortable cost of living annually: $76,629
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $2,838
- Start saving at 30: $3,649
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $1,916
- Start saving at 30: $2,464
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Texas
- Population 65+ (%): 13.4%
- Median household income: $79,721
- Comfortable cost of living annually: $76,249
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $2,824
- Start saving at 30: $3,631
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $1,902
- Start saving at 30: $2,445
Utah
- Population 65+ (%): 11.9%
- Median household income: $96,658
- Comfortable cost of living annually: $105,471
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $3,906
- Start saving at 30: $5,022
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $2,984
- Start saving at 30: $3,837
Vermont
- Population 65+ (%): 21.4%
- Median household income: $82,730
- Comfortable cost of living annually: $92,133
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $3,412
- Start saving at 30: $4,387
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $2,490
- Start saving at 30: $3,202
Virginia
- Population 65+ (%): 16.7%
- Median household income: $92,090
- Comfortable cost of living annually: $92,172
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $3,414
- Start saving at 30: $4,389
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $2,492
- Start saving at 30: $3,204
Washington
- Population 65+ (%): 16.6%
- Median household income: $99,389
- Comfortable cost of living annually: $119,994
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $4,444
- Start saving at 30: $5,714
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $3,522
- Start saving at 30: $4,529
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West Virginia
- Population 65+ (%): 21%
- Median household income: $60,798
- Comfortable cost of living annually: $58,117
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $2,152
- Start saving at 30: $2,767
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $1,230
- Start saving at 30: $1,582
Wisconsin
- Population 65+ (%): 18.5%
- Median household income: $77,488
- Comfortable cost of living annually: $79,701
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $2,952
- Start saving at 30: $3,795
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $2,030
- Start saving at 30: $2,610
Wyoming
- Population 65+ (%): 18.5%
- Median household income: $75,532
- Comfortable cost of living annually: $83,054
Monthly savings to retire at 65 w/o Social Security
- Start saving at 20: $3,076
- Start saving at 30: $3,955
Monthly savings to retire at 65 w/Social Security
- Start saving at 20: $2,154
- Start saving at 30: $2,770
Explore more original studies and surveys in the GOBankingRates original research center.
Methodology: For this study, GOBankingRates found total population, population ages 65 and over, total households and household median income (via the U.S. Census American Community Survey). The cost-of-living indexes were sourced from Missouri Economic and Research Information Center for 2025 and the national average expenditure costs for retired households came from the Bureau of Labor Statistics Consumer Expenditure Survey. The average home value was sourced from Zillow Home Value Index. Using the national average 30-year fixed mortgage rate of 6.11, as sourced from the Federal Reserve Economic Data on Feb. 11, 2026, the average mortgage was calculated for each state. Using the average mortgage and expenditure costs, the total cost of living for necessities was calculated. Using the 50/30/20 finance rule that states needs should not exceed 50% of household income, the total cost of living for necessities was doubled to find the comfortable cost of living. Using the average monthly Social Security income for one retired worker, the total cost of living comfortably after Social Security income was calculated for each state. Assuming a person retires at 65 and lives to 85, 20 years of retirement was calculated with and without Social Security income. Assuming a person starts saving at 20 or 30 years old, the monthly amount needed to retire with and without Social Security income was calculated for each age. All data is up to date as of Feb. 11, 2026.
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This article originally appeared on GOBankingRates.com: Monthly Savings Needed To Retire Comfortably in Every State in 2026
