Households around the nation are dealing with financial stress amid persistent inflation, and retirees dealing with rising bills need to guarantee their income streams can cowl prices.
Americans derive their retirement income from a selection of sources, which can embody personal retirement financial savings, such as through a 401(okay) plan or IRA, as effectively as annuities, pension plans, and Social Security advantages.
The average annual Social Security benefit quantities to $24,852, based mostly on the month-to-month average of $2,071 reported by the Social Security Administration in January 2026.
A new evaluation by MoneyLion that utilized knowledge from the MIT Living Wage Calculator estimated the annual income required to retire comfortably in each state, which ranges from a high of $64,504 in Hawaii to a low of $40,627 in West Virginia.
Here’s a look at the state-by-state breakdown of the annual income a single grownup without kids would need to retire comfortably, according to MoneyLion’s evaluation of the MIT Living Wage Calculator.
Households around the nation are dealing with financial stress amid persistent inflation, and retirees dealing with rising bills need to guarantee their income streams can cowl prices.
Income necessities by state
Americans derive their retirement income from a selection of sources, which can embody personal retirement financial savings, such as through a 401(okay) plan or IRA, as effectively as annuities, pension plans, and Social Security advantages. OnPoint/peopleimages.com – stock.adobe.com
The average annual Social Security benefit quantities to $24,852, based mostly on the month-to-month average of $2,071 reported by the Social Security Administration in January 2026. JohnKwan – stock.adobe.com
