Mapping Out How Much Money You Need to Retire

If you’re a visual person, then this is for you. Visual Capitalist has created a map that shows the annual retirement cost for each state. At a glance, you can see in which areas of the country retirees can stretch their savings the farthest.

Using data compiled by GOBankingRates, which looked at the average cost of food, shelter, transportation, healthcare, and utilities in each state, it found that Hawaii is the most expensive state to retire comfortably in, requiring nearly $130,000 per year. That’s more than double the amount of money needed to live in the two cheapest states: West Virginia ($58,000 annually) and Oklahoma ($60,000 annually).

The Seniors Trust is committed to improving the financial well-being of older Americans through the passage of the Social Security Expansion Act. It will give retirees an immediate benefits increase of about $200 a month, a fair annual cost-of-living adjustment (COLA), increased minimum benefits, and ensure the long-term solvency of the Social Security program.