{"id":290000,"date":"2025-11-18T00:59:05","date_gmt":"2025-11-18T00:59:05","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/290000\/"},"modified":"2025-11-18T00:59:05","modified_gmt":"2025-11-18T00:59:05","slug":"how-much-does-it-cost-to-retire-in-washington","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/290000\/","title":{"rendered":"How much does it cost to retire in Washington?"},"content":{"rendered":"

Looking to retire in Washington? It won\u2019t come cheap.<\/p>\n

A study<\/a> by NetCredit revealed Washington is the fifth most expensive state to retire in.<\/p>\n

It costs more than $950,000 to retire in Washington<\/p>\n

Factoring in average retirement age, life expectancy, local costs, and 20% for breathing room \u2014 the cost to retire in Washington is $967,166.<\/p>\n

The most expensive state to retire in was Hawaii, at $1,097,790, followed by Massachusetts at $1,059,811, California at $1,053,814, and New York at $1,011,425.<\/p>\n

Meanwhile, the state with the lowest cost was West Virginia, at $712,921. Other states with low costs include Arkansas at $715,126, South Dakota at $724,669, North Dakota at $725,851, and Kentucky at $737,264.<\/p>\n

Most and least expensive countries to retire in<\/p>\n

Looking worldwide, the U.S. is the fifth most expensive country to retire in, at an average of $737,997. The most expensive country is Singapore at $1,146,232, followed by Iceland at $892,906, Switzerland at $858,950, and Luxembourg at $794,045.<\/p>\n

The least expensive countries to retire in are Pakistan at $187,065, India at $188,901, Bangladesh at $189,625, and Nepal at $214,396.<\/p>\n

\u201cWe live nicely in a way that I would have to have much more to live like this in the U.S.,\u201d Albert Greenwood, who retired to Nepal from New York, said, as reported in the study. \u201cBut I know not everybody has success with these moves. If you have a big family, you miss them, and maybe that\u2019s going to be a problem.\u201d<\/p>\n

Saving for retirement<\/p>\n

To save for retirement, NetCredit recommends setting savings goals, determining total assets and future earnings, automating savings, utilizing employer-sponsored retirement plans, and visualizing the benefits of saving for retirement.<\/p>\n

\u201cSeeing the life you want to live in detail can incentivize you to save more in order to live that life,\u201d Mark Hebner, CEO of Index Fund Advisors, stated<\/a>, as reported in the study.<\/p>\n

Overall, NetCredit stressed the importance of identifying how much is needed to save for retirement and coming up with a plan to do so.<\/p>\n

Contributing: Manda Factor, KIRO Newsradio<\/p>\n

Follow Julia Dallas on\u00a0X.<\/a> Read her stories here<\/a>. Submit news tips here.<\/a><\/p>\n

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