Retiring single, by state
With a pension, in all 50 states.
A pension does the work of a big nest egg. Before tax; see your state below.
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1. Your state, your number
2. How the numbers work
Investopedia estimated what a single person 65 or older living alone spends in each state, using federal spending, housing and price data for 2024. Nationally that is about $59,600 a year. Average Social Security, $1,975 a month, covers about $23,700 of it.
Multiplying by 25 is the 4% rule: withdraw 4% of savings a year. We added the pension. Each $1,000 a month of pension covers $12,000 a year, which would otherwise take $300,000 in savings.
For context, the average FERS annuity was $1,810 a month and the average CSRS annuity $4,464 in fiscal 2022. See what FERS actually pays.
3. All 50 states
Savings needed after Social Security, with no pension and with a $2,000 monthly pension. Rounded.
| State | Yearly spending | No pension | $2,000 pension |
|---|---|---|---|
| Alabama | $51,200 | $687,000 | $87,000 |
| Alaska | $57,910 | $855,000 | $255,000 |
| Arizona | $56,210 | $813,000 | $213,000 |
| Arkansas | $49,630 | $648,000 | $48,000 |
| California | $64,300 | $1,015,000 | $415,000 |
| Colorado | $58,810 | $878,000 | $278,000 |
| Connecticut | $60,970 | $932,000 | $332,000 |
| Delaware | $56,000 | $807,000 | $207,000 |
| Florida | $58,030 | $858,000 | $258,000 |
| Georgia | $54,250 | $764,000 | $164,000 |
| Hawaii | $64,350 | $1,016,000 | $416,000 |
| Idaho | $53,110 | $735,000 | $135,000 |
| Illinois | $57,150 | $836,000 | $236,000 |
| Indiana | $52,160 | $711,000 | $111,000 |
| Iowa | $50,400 | $667,000 | $67,000 |
| Kansas | $51,830 | $703,000 | $103,000 |
| Kentucky | $50,780 | $677,000 | $77,000 |
| Louisiana | $50,490 | $670,000 | $70,000 |
| Maine | $55,140 | $786,000 | $186,000 |
| Maryland | $60,880 | $930,000 | $330,000 |
| Massachusetts | $61,160 | $937,000 | $337,000 |
| Michigan | $53,590 | $747,000 | $147,000 |
| Minnesota | $56,430 | $818,000 | $218,000 |
| Mississippi | $49,820 | $653,000 | $53,000 |
| Missouri | $51,880 | $704,000 | $104,000 |
| Montana | $53,260 | $739,000 | $139,000 |
| Nebraska | $51,920 | $705,000 | $105,000 |
| Nevada | $57,590 | $847,000 | $247,000 |
| New Hampshire | $60,360 | $917,000 | $317,000 |
| New Jersey | $64,440 | $1,018,000 | $418,000 |
| New Mexico | $52,150 | $711,000 | $111,000 |
| New York | $61,660 | $949,000 | $349,000 |
| North Carolina | $53,380 | $742,000 | $142,000 |
| North Dakota | $49,450 | $644,000 | $44,000 |
| Ohio | $52,700 | $725,000 | $125,000 |
| Oklahoma | $50,800 | $677,000 | $77,000 |
| Oregon | $58,900 | $880,000 | $280,000 |
| Pennsylvania | $54,550 | $771,000 | $171,000 |
| Rhode Island | $58,490 | $870,000 | $270,000 |
| South Carolina | $52,870 | $729,000 | $129,000 |
| South Dakota | $50,720 | $675,000 | $75,000 |
| Tennessee | $51,070 | $684,000 | $84,000 |
| Texas | $54,790 | $777,000 | $177,000 |
| Utah | $55,890 | $805,000 | $205,000 |
| Vermont | $56,900 | $830,000 | $230,000 |
| Virginia | $57,400 | $842,000 | $242,000 |
| Washington | $61,270 | $939,000 | $339,000 |
| West Virginia | $50,030 | $658,000 | $58,000 |
| Wisconsin | $53,750 | $751,000 | $151,000 |
| Wyoming | $53,020 | $733,000 | $133,000 |
Cheapest: North Dakota, Arkansas, Mississippi and West Virginia. Most expensive: New Jersey, Hawaii and California. Washington, D.C. is about $1.01 million with no pension. Deciding where to live? See the best states to retire.
4. What the numbers leave out
- Taxes. Your annuity is taxable, and part of Social Security may be. Some states tax pensions. See state taxes on federal retirement.
- Health insurance. FEHB premiums and Medicare Part B aren’t fully in a typical budget. What enrollees pay for FEHB rises 10.9% on average for 2027.
- Long-term care. Not included at all.
- Inflation on the pension. FERS COLAs are smaller than inflation when inflation is above 2%, and regular FERS retirees get none before 62 (special-provision and disability retirees are exceptions).
For the full savings math, see how much do I need to retire. Still working? Federal Warrior’s FERS pension estimator projects your annuity. Budgeting for health insurance? Use Warrior Insure’s FEHB premium estimator. Getting VA disability on top? Warrior Disability’s calculator adds it in.
5. Frequently asked questions
How much does a single retiree need to retire comfortably?
About $898,000 nationally, by Investopedia’s estimate, for a single person 65 or older living alone who spends about $59,600 a year and collects the average Social Security benefit of $1,975 a month. The range runs from about $644,000 in North Dakota to about $1,018,000 in New Jersey.
How much less do you need with a pension or annuity?
Every $1,000 a month of pension or annuity income cuts the savings you need by about $300,000, because it covers $12,000 a year that savings would otherwise fund at a 4% withdrawal rate. With a $2,000 monthly annuity, the national figure drops from about $898,000 to about $298,000.
Where does a single retiree with a $2,000 pension need the least?
In North Dakota, about $44,000 in savings on top of Social Security and the pension, using Investopedia’s 2024 spending figures. Arkansas, Mississippi and West Virginia are close. New Jersey needs the most, about $418,000.
Do these figures include taxes?
No. They are before federal and state income tax, and they leave out long-term care. A FERS or CSRS annuity is taxable, and part of Social Security may be. Budget extra for taxes, especially in states that tax pensions.
What counts as an annuity here?
Any steady lifetime income besides Social Security: a FERS or CSRS annuity, military retired pay, a state pension, or an annuity you bought. Enter the monthly amount before tax in the calculator.
Estimates before tax, using 2024 spending data and a 4% withdrawal rule. Your own spending is what matters. Not individual financial advice.