©Shutterstock.com
Commitment to Our Readers
GOBankingRates’ editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services – our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Trusted by
Millions of Readers
Retirement ages vary across the country, but the bigger question is whether finances can cover the years ahead. Some states see workers step away in their early 60s. Others push closer to 65. But that number alone doesn’t show if the timing matches what’s in the bank.
A study by John Stevenson helps fill in the gap by calculating how many “years to retire” it takes in each state. The formula divides a retirement goal by annual savings potential, which is wages minus expenses plus self-reported savings.
Together with the average retirement age, according to the most recent analysis of U.S. Census Bureau data by Money Talks News, the numbers reveal which states give residents a better shot at stopping work on time, and which stretch retirement further into the distance.
Alabama
Average retirement age: 62
Years to retire: 34
Alaska
Average retirement age: 61
Years to retire: 56
Arizona
Average retirement age: 63
Years to retire: 48
Arkansas
Average retirement age: 62
Years to retire: 38
California
Average retirement age: 64
Years to retire: 71
Colorado
Average retirement age: 64
Years to retire: 31
Connecticut
Average retirement age: 65
Years to retire: 35
Delaware
Average retirement age: 64
Years to retire: 32
Florida
Average retirement age: 63
Years to retire: 41
Georgia
Average retirement age: 62
Years to retire: 27
Hawaii
Average retirement age: 65
Years to retire: Not able to retire on an average wage
Idaho
Average retirement age: 63
Years to retire: 47
Illinois
Average retirement age: 64
Years to retire: 26
Indiana
Average retirement age: 63
Years to retire: 34
Iowa
Average retirement age: 65
Years to retire: 33
Kansas
Average retirement age: 65
Years to retire: 29
Kentucky
Average retirement age: 62
Years to retire: 37
Louisiana
Average retirement age: 62
Years to retire: 41
Maine
Average retirement age: 64
Years to retire: 54
Maryland
Average retirement age: 65
Years to retire: 31
Massachusetts
Average retirement age: 65
Years to retire: 71
Michigan
Average retirement age: 63
Years to retire: 29
Minnesota
Average retirement age: 64
Years to retire: 26
Mississippi
Average retirement age: 62
Years to retire: 44
Missouri
Average retirement age: 63
Years to retire: 30
Montana
Average retirement age: 63
Years to retire: 46
Nebraska
Average retirement age: 64
Years to retire: 32
Nevada
Average retirement age: 63
Years to retire: 47
New Hampshire
Average retirement age: 65
Years to retire: 43
New Jersey
Average retirement age: 65
Years to retire: 37
New Mexico
Average retirement age: 63
Years to retire: 34
New York
Average retirement age: 65
Years to retire: 43
North Carolina
Average retirement age: 63
Years to retire: 35
North Dakota
Average retirement age: 64
Years to retire: 32
Ohio
Average retirement age: 63
Years to retire: 33
Oklahoma
Average retirement age: 62
Years to retire: 34
Oregon
Average retirement age: 64
Years to retire: 44
Pennsylvania
Average retirement age: 64
Years to retire: 32
Rhode Island
Average retirement age: 64
Years to retire: 41
South Carolina
Average retirement age: 63
Years to retire: 41
South Dakota
Average retirement age: 64
Years to retire: 42
Tennessee
Average retirement age: 62
Years to retire: 32
Texas
Average retirement age: 65
Years to retire: 29
Utah
Average retirement age: 64
Years to retire: 45
Vermont
Average retirement age: 65
Years to retire: 55
Virginia
Average retirement age: 64
Years to retire: 29
Washington
Average retirement age: 64
Years to retire: 32
West Virginia
Average retirement age: 61
Years to retire: 32
Wisconsin
Average retirement age: 64
Years to retire: 38
Wyoming
Average retirement age: 63
Years to retire: 34
States Where Retirement Is Within Reach
Some states show a clear advantage, with Illinois and Minnesota both requiring only 26 years of saving, the shortest timelines in the country. Georgia comes in second with 27 years, while Michigan, Kansas, Texas and Virginia all needing 29 years to retire. These shorter timelines suggest that wages, expenses and savings habits are better aligned, making it more realistic for workers to retire on time, or even a little earlier.
States Where Retirement Is Out of Reach
On the other end of the scale, California and Massachusetts need a staggering 71 years of saving — longer than most working lifetimes. Maine and Vermont also stand out, with timelines above 50 years. Hawaii faces the most difficult scenario of all: According to the John Stevenson figures, average wages don’t cover people’s retirement needs at all.