Analysis Ranks Retirement Income Needs Across All 50 States

Annual income requirements for a comfortable retirement vary significantly across the United States, with Hawaii requiring the most at $64,504 and West Virginia the least at $40,627. A MoneyLion analysis using data from the MIT Living Wage Calculator estimates how much a single adult without children would need each year to retire comfortably in each state.

The estimates come as persistent inflation and rising expenses put pressure on household finances. According to the analysis, the figures provide state-by-state estimates of annual income requirements, while Americans may rely on several sources to fund retirement, including personal savings, pensions, annuities, and Social Security benefits.

The Social Security Administration reported an average monthly retirement benefit of $2,071 in January 2026, equivalent to $24,852 annually. That amount represents one potential source of retirement income, alongside savings accumulated through employer-sponsored 401(k) plans and individual retirement accounts.

Among the states with the highest estimated annual retirement income requirements, Hawaii leads at $64,504, followed by Massachusetts at $63,610, California at $63,402, New York at $62,167, and New Jersey at $56,884, according to MoneyLion's analysis.

Other states with estimated annual requirements above $54,000 include Washington at $55,316, Oregon at $55,047, Connecticut at $54,178, Colorado at $54,071, and Maryland at $53,949. Virginia's estimated requirement is $53,505, while New Hampshire stands at $53,604.

At the lower end of the estimates, West Virginia has the lowest annual requirement at $40,627. Arkansas follows at $41,615, while Kentucky is estimated at $42,040, Louisiana at $42,378, South Dakota at $42,706, and North Dakota at $42,874.

Other states with annual requirements below $45,000 include Mississippi at $43,025, Oklahoma at $43,119, Ohio at $43,674, Alabama at $43,814, Missouri at $44,244, Iowa at $44,273, Wyoming at $44,614, Tennessee at $44,959, and Kansas at $44,994.

Across the remaining states, the estimated annual income requirements are $51,965 in Alaska, $50,900 in Arizona, $49,484 in Delaware, $50,117 in Florida, $50,351 in Georgia, $49,091 in Idaho, $50,796 in Illinois, $45,326 in Indiana, $51,465 in Maine, $45,914 in Michigan, $48,475 in Minnesota, $50,409 in Montana, $45,241 in Nebraska, $50,259 in Nevada, $45,607 in New Mexico, $46,745 in North Carolina, $48,515 in Pennsylvania, $52,024 in Rhode Island, $46,469 in South Carolina, $51,407 in Utah, $51,831 in Vermont, $45,504 in Wisconsin, and $44,614 in Wyoming.

MoneyLion's estimates are based on the MIT Living Wage Calculator and cover a single adult without children. The figures describe estimated annual income needs by state rather than a universal retirement budget for households with different family sizes or financial circumstances.