And most of us don’t even have close to enough
Depending on what state you choose to retire in, you could need anywhere from $666,000 to upward of $2 million saved. And that’s outside of what you get from your Social Security checks.
The cheapest state to retire in, according to their calculations, was Mississippi, where you’ll need about $667,000 to retire. That’s thanks, in part, to low housing and transportation costs. That’s followed by Oklahoma and Arkansas. Of course, these are just estimates — and the city or town you choose to live in will also impact these numbers. And, to be safe, you’ll want to save more in case your expenses are higher than average or you have a longer than expected lifespan.
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