Average Retirement Age by State

To live a satisfying life after retirement, one should have enough savings to at least cover food, housing and utilities, healthcare costs, taxes, home or other assets maintenance, family expenditure, entertainment, and emergency costs. The following statistics give the average actual retirement age, average actual savings, and savings required to live comfortably according to each state.

Alabama is one of the friendlier states in terms of government taxes for retirees. In this state, social security is fully exempted from taxes and any retirement income and pensions (public or private) are also tax-free.  Additionally, seniors can expect low property taxes too. Moreover, the average cost of living in Alabama is much lower than in many other states making it an affordable state for retirees.  However, the withdrawals from the retirement accounts are fully taxed, but considering other leverages mentioned, overall it is a friendly state for retirees.

Average Retirement Age: 62

Average Savings to Retire: $395,563

Savings Required to Live Comfortably: $883,790

Alaska is a friendly state for retirees as the social security and retirement income/pensions are not taxed. Secondly, From 65 years of age and older, Alaskan retirees can benefit from some exemption in their property taxes too. Moreover, withdrawals from retirement accounts are also free of tax charges.

However, the cold weather might be a problem for senior citizens. Also, the state has one of the highest cost of living indexes which requires a greater amount of savings to live comfortably after retirement. Nevertheless, due to the tax leniency, Alaska would be a nice place for those retirees that have sufficient savings.

Average Retirement Age: 61

Average Savings to Retire: $503,822

Savings Required to Live Comfortably: $1,505,740

Due to the taxes in the state of Arizona and the higher cost of living, this state may not be the best state for retirement. With regards to taxes, the social security income is not taxed but both public and private pension incomes are taxed partially. Moreover, withdrawals from retirement accounts are also fully taxed. Since the average savings in the state are already much less than what is required, the tax laws will just make matters harder for retirees in the state. However, for those who can afford it, Arizona does have a good healthcare system and food and prescription medications are exempt from sales taxes too.

Average Retirement Age: 63

Average Savings to Retire: $427,418

Savings Required to Live Comfortably: $991,560

Arkansas is generally okay but not the best state for retirees. On the positive side, seniors in Arkansas retire at 62 years of age on average and will enjoy the relatively low cost of living in this state. With regards to taxes also, Arkansas is a friendly state for retirees as social security is completely exempted from taxes. However, retirement account withdrawals and public pensions are partially taxed by the government.

There are a few other problems that retirees might have to face in Arkansas including a high sales tax rate, fewer healthcare facilities, and high crime rates.

Average Retirement Age: 62

Average Savings to Retire: $364,395

Savings Required to Live Comfortably: $861,053

California is loved for its good quality of living but this state is one of the most expensive states for retirement. This state has one of the highest costs of living in the US and it is also not a tax-friendly place for seniors. Due to high expenses, many seniors’ average savings are much lower than what is required to live comfortably in California. Moreover, the full taxes charged on pension incomes and withdrawals from retirement accounts will only make survival harder for retirees. Social security, however, is not taxed.

Average Retirement Age: 64

Average Savings to Retire: $452,135

Savings Required to Live Comfortably: $1,332,457

Retirees in Colorado are not dealt with the best tax exemptions, but Colorado still has a large retiree community. In this state, all retirement income is subject to partial income tax. This includes social security, public, and private retirement income/pensions. The cost of living is also on the higher side. People may have to work more to collect a reasonable amount of savings.  However, due to property tax exemptions, low sales tax rates, and high-quality health care, there is a large retiree community in the state.

Average Retirement Age: 65

Average Savings to Retire: $449,719

Savings Required to Live Comfortably: $905,350

Connecticut is one of the worst places for retirement as all forms of retirement income and pensions (private and public) are taxed as regular income. Social security in the state is also taxed partially. In addition to this, there are no tax exemptions on property in this state and the cost of living is quite high too. Due to the high cost of living, the savings required to live comfortably are also high and the tax laws makes the matters worse only.

Average Retirement Age: 65

Average Savings to Retire: $545,754

Savings Required to Live Comfortably: $1,062,257

Delaware is one of the more reasonable states for retirees to live in. Even though the cost of living is on the higher side, the tax leverages can be beneficial for retirees who have a reasonable amount of savings accumulated. The state of Delaware charges zero sales taxes and social security is also completely exempted from tax charges. Property taxes are also among the lowest in the country. Retirement account withdrawals and pension incomes, however, are taxed but partially only.

Average Retirement Age: 63

Average Savings to Retire: $454,679

Savings Required to Live Comfortably: $993,101

Florida is known as one of the best states to retire in for many reasons including great weather, good standard of living, and various tax exemptions. It is actually one of the most tax-friendly states in America. In Florida, social security, public pensions, private pensions, and retirement account withdrawals are all completely exempted from any tax charges. Retirees can enjoy their savings to the fullest. The cost of living may not be ideal, but the exemptions and leverages that are given to retirees in Florida make living in the state quite comfortable.

Average Retirement Age: 64

Average Savings to Retire: $428,997

Savings Required to Live Comfortably: $902,116

Georgia’s relatively lower cost of living and tax legislations are quite beneficial for retirees in the state, making it another one of the better options for retirees.  There is no tax on any social security benefits, and the government gives deductions on taxes on pensions. The withdrawals from the retirement accounts are also not fully taxed.  The property taxes are also quite manageable here for all.  However, people might need to work harder to accumulate more savings that are closer to the amount required for a comfortable living.

Average Retirement Age: 63

Average Savings to Retire: $435,254

Savings Required to Live Comfortably: $851,122

Hawaii is one of the most challenging places to live for retirees mainly because of the extremely high cost of living. In fact, it has the highest average cost of living index of all the other states, which is why the amount of savings required to live comfortably in Hawaii is the highest. People are unable to collect enough savings due to the high cost of living, resulting in later retirement and the highest difference between the average amount saved and the savings required. Moreover, withdrawals from retirement accounts and private pensions are also fully charged. Social security and public pensions are exempted from taxes, but the significantly high cost of living makes these exemptions insignificant.

Average Retirement Age: 66

Average Savings to Retire: $366,776

Savings Required to Live Comfortably: $1,692,722

Seniors living off their retirement savings will most likely find this state to be unideal as the tax legislation in Idaho is not the best for retirees. Only social security benefits are exempted; whereas, other retirement income and pensions are partially taxed. However, the property and sales taxes are relatively low in this state, which may make the number of taxes more bearable. Considering the cost of living and other statistics, those who can save up well enough may find Idaho a reasonable state to retire in.

Average Retirement Age: 64

Average Savings to Retire: $437,396

Savings Required to Live Comfortably: $847,388

Illinois is amongst the states that exempt retirement income from taxation. This includes social security retirement, public and private retirement incomes, and pensions. This would be beneficial for retirees in this state, but the property taxes and state sales taxes in the state are quite high. This will increase retirees’ expenses but generally, the cost of living is quite low so this should be manageable.

Average Retirement Age: 64

Average Savings to Retire: $449,983

Savings Required to Live Comfortably: $874,507

The state of Indiana has one of the lowest costs of living, but the retirement taxes in the state can cause concern for any person planning to move to the state. The only thing that is exempted from government taxes is the social security benefit. Other things like public pensions, private pensions, and retirement account withdrawals are fully taxed.

Therefore, the low cost of living can allow people in this state to save better, but the tax legislation for retirees would make it challenging to live here after retirement.

Average Retirement Age: 63

Average Savings to Retire: $405,732

Savings Required to Live Comfortably: $861,848

Iowa, having a lower cost of living, may allow people to save more but its tax laws are not one of the best when compared to other states. In this state, social security income is exempted from taxes. However other pension incomes and withdrawals from retirement accounts are partially taxed. Moreover, Iowa is one of the few states that charges inheritance taxes, and their property taxes are also above average.

Average Retirement Age: 65

Average Savings to Retire: $465,127

Savings Required to Live Comfortably: $785,982

Kansas is a place that is relatively one of the friendliest ones for retirees. This is because the cost of living in the state is not too high which allows people to save better. The amount of savings required for a comfortable living is also not too high because of that reason.  In terms of taxes, public retirement income is not taxed at all; however, private pensions are taxed like normal income. Social security income is also partially taxed but those having an adjusted gross income of $75000 or less are exempted from the social security income tax.

Average Retirement Age: 65

Average Savings to Retire: $452,703

Savings Required to Live Comfortably: $753,339

The retirement tax legislation in Kentucky is favorable for retirees. In this state, social security is not taxed and other retirement incomes are partially taxed. The withdrawals from retirement accounts are also partially taxed in the state. In addition to this, state sales tax and property taxes are below the national average and will keep seniors’ expenses relatively low. However, the state charges an inheritance tax, which might be a discouraging factor for many retirees.

Average Retirement Age: 62

Average Savings to Retire:  $441,757

Savings Required to Live Comfortably: $919,469

Louisiana is again not the best but a reasonable option for retirement. The cost of living is not too high and the social security income is exempted from any tax charges. Moreover, the government does not charge any taxes on income from public pensions either. Though those on private pensions have to pay partial taxes. The property tax rate is also one of the lowest in Louisiana. There are also no inheritance or estate taxes.  However, retirees will have to face high sales tax rates in the state.

Average Retirement Age: 62

Average Savings to Retire: $386,908

Savings Required to Live Comfortably: $948,503

Maine is not the most tax-friendly place for retirement, because public and private retirement income is taxed at high rates. This may strain retirees over time. Moreover, property taxes in the state are also quite high and only receive an exemption from the age of 65. The cost of living in Maine is high too and this calls for a higher amount of savings required for comfortable living.  However,  social security benefits are not taxed at all in this state.

Average Retirement Age: 63

Average Savings to Retire: $403,751

Savings Required to Live Comfortably: $1,134,778

Maryland is not the best option as it has a high average cost of living which requires retirees to save more. Moreover, the tax laws in the state are also not ideal.  Social security benefits are exempted from taxes but other forms of retirement incomes are taxed. Public pension income is taxed partially while private pensions are fully taxed. Withdrawals from retirement accounts are also partially taxed.

Therefore, those retirees on public pensions might find Maryland better than those who are on private pensions.

Average Retirement Age: 65

Average Savings to Retire: $485,501

Savings Required to Live Comfortably: $1,096,666

Massachusetts does have great attractions, culture, great health care facilities, food, and weather. It would be a nice place to retire for those on public pension incomes as they are not taxed at all. Moreover, the social security income is also fully exempted. However, for those who are on private pension income, Massachusetts might not be the best option for retirement as private pensions are taxed fully like normal income.

Furthermore, the cost of living in the state is high which would require people to accumulate more in terms of savings to retire comfortably. This may also explain why the average retirement age for this state is higher than many others.

Average Retirement Age: 66

Average Savings to Retire: $478,947

Savings Required to Live Comfortably: $1,079,710

Michigan is a great and affordable place for retirement. Retirees in this state typically retire at 62 years of age and may enjoy a few benefits by spending their retirement here. One of these benefits is the tax exemption on social security income. Other forms of retirement incomes like pensions are partially taxed but the government provides large deductions on the tax rates on those incomes.  Sales taxes are also below average.

These tax benefits will help retirees with the cost of living in this state, which is already not too high when compared to other states. However, it should be noted that the property taxes in Michigan are above average and therefore may have an impact on the decision of some retirees.

Average Retirement Age: 62

Average Savings to Retire: $439,568

Savings Required to Live Comfortably: $924,415

Minnesota is not regarded as a great state for retirement because of some of its tax laws. The state of Minnesota charges full taxes on public pension income, private pensions, and also on retirement account withdrawals. Moreover, the social security income is also partially taxed. The tax rates charged in Minnesota on incomes are actually one of the highest in America.  These kinds of tax laws will significantly pinch retirees’ savings and affect the age that they can retire at also.

Average Retirement Age: 65

Average Savings to Retire: $470,549

Savings Required to Live Comfortably: $853,040

Mississippi has the lowest average cost of living index as compared to all the other states. This means that it is a state cheaper to live in than others and requires fewer savings to live comfortably, making it a favorable state to live in for retirees. Moreover, it is actually a very tax-friendly state for retirees too as they are fully exempted from many taxes including taxes on the social security income, withdrawals from retirement accounts, and public and private pension income.

Average Retirement Age: 63

Average Savings to Retire: $347,884

Savings Required to Live Comfortably: $798,874

Missouri has a reasonable average cost of living that retirees can benefit from but the taxes levied on retirement incomes may be bothering. The social security income in the state is generally partially taxed, but some retirees may be exempted from the tax charges under certain conditions. Public pension income in Missouri is also partially taxed; whereas private pensions are taxed fully like normal income.

Nevertheless, since the cost of living in the state is comparatively not too high,  and housing is also relatively cost-friendly, it might not be a bad option for some retirees, especially the ones on public pensions, to live in.

Average Retirement Age: 63

Average Savings to Retire: $410,656

Savings Required to Live Comfortably: $854,197

Montana does not fall amongst the top best options for retirees to live in post-retirement. This is mainly because of its remoteness. Seniors might face difficulty in accessing efficient health care facilities and there is also a lack of urban amenities that might hinder comfortable living in Montana.

Moreover, all forms of retirement and pension income/benefits are taxed fully. Social security income is also taxed partially. Therefore, seniors planning to retire here may have to make arrangements to reduce their expenses and adjust their lifestyle for this reason.

Average Retirement Age: 64

Average Savings to Retire: $390,768

Savings Required to Live Comfortably: $891,368

Retirees in this state will enjoy a low cost of living here. Moreover, the savings required to live comfortably are also much lower than in many other states, and a person planning their retirement in Nebraska may be able to meet this amount by 65.

However, the problem is that the tax laws for retirees are not very friendly in the state. All kinds of pension incomes are fully taxed and the social security income is also taxed but partially.  Its property taxes are also among the highest in America. Nebraska is also one of the few states that charge an inheritance tax too. These strict laws may discourage many retirees to choose Nebraska as the state of their retirement.

Average Retirement Age: 65

Average Savings to Retire: $404,650

Savings Required to Live Comfortably: $786,583

Nevada would make a great place for retirement for a retiree trying to avoid burdensome taxes. This state has no state income tax so all retirement income is also completely tax-free. In addition to this, property taxes are also low and even though there are no exemptions on them, veterans and people with disabilities may apply for an exemption. The cost of living is, however, higher but for those who have been able to collect a reasonable amount of savings,  Nevada would be a good place to live overall.

Average Retirement Age: 63

Average Savings to Retire: $379,728

Savings Required to Live Comfortably: $1,076,107

New Hampshire is considered a tax-friendly state for retirees because there are no taxes charged on any type of retirement income/benefits including social security income, public pensions, and private pensions. Withdrawals from retirement accounts are also free of such charges. Therefore, New Hampshire is considered a popular choice for many retirees.

From the statistics below, it can also be seen that the average saving for retirement is also much higher than in many other states. This is also because of the non-existent sales tax rates in the state. The high cost of living and property taxes may be a challenge,  but since people are able to save more due to other tax leverages, it is a friendly state for retirees overall.

Average Retirement Age: 65

Average Savings to Retire: $512,781

Savings Required to Live Comfortably: $930,159

New Jersey is a great place to live but it may not be the best state for retirement. That is because the cost of living is high here, and the tax system may be burdensome for some retirees. Social security is not taxed in this state but pensions (public and private) are partially taxed according to income level. The property taxes, however,  will be the largest burden for retirees. There are some rebates available for those homeowners who are above 65. It is very important for a person planning to retire here, to save more of their income.

Average Retirement Age: 65

Average Savings to Retire: $514,245

Savings Required to Live Comfortably: $1,016,461

New Mexico is a desirable place to retire for its low cost of living, and also access to recreational activities. The tax system is not ideal but is reasonable considering the cost of living. In the state, all types of retirement incomes are partially taxable in the state of New Mexico, including social security income, public pensions, and private pensions.  The tax rate depends on the level of income. Seniors may, however, benefit from low property taxes, and tax exemptions on groceries and medication.

Therefore, overall New Mexico is not a bad state to retire in but people planning to retire in this state should prepare and plan ahead to meet all the tax demands.

Average Retirement Age: 62

Average Savings to Retire: $428,041

Savings Required to Live Comfortably: $928,181

While New York is tax-friendly to a certain extent, it has the third highest cost of living among all the states in the US. Moreover, the sayings required for a comfortable living are also quite high and people are not able to save enough due to the soaring costs of living. The property taxes are also very high. Therefore, New York might not be the best choice for retirees with insufficient savings.

For those who can afford the state, it does have the benefit of easy accessibility to great health care and good quality of life. Moreover, the social security income and public pension are exempted from taxes altogether.

Average Retirement Age: 64

Average Savings to Retire: $382,027

Savings Required to Live Comfortably: $1,246,578

North Carolina might not be the best but may be a good place for retirement in general. The cost of living in this state is low, and retirees would be able to live comfortably with less. There is also good access to quality health care and community. Moreover, the tax laws in this state are also reasonable and should not infringe too much on retirees. The biggest challenge is that there is a flat tax rate on income of 5.25% on all retirement income, excluding social security retirement income. In addition to this, there are exclusions and deferrals that retirees over 65 can apply for which may help.

Average Retirement Age: 63

Average Savings to Retire: $464,104

Savings Required to Live Comfortably: $929,686

North Dakota is already loved for its affordable living costs, low taxes, and economic growth. Although the average retirement age is 65, the amount required to live comfortably in this state is not too high. There are homestead credits, and exemptions on sales taxes for medication, medical equipment, and groceries which will benefit seniors in this state.

Moreover,  all retirement income is taxable in North Dakota, but the income tax rate is low so it will not burden retirees too much. From the year 2021, the social security income has been exempted from tax charges altogether.  All in all, North Dakota is a reasonably good state for retirees to settle in.

Average Retirement Age: 65

Average Savings to Retire: $319,609

Savings Required to Live Comfortably: $855,904

The retirement age in Ohio is also less than in many other states as the cost of living is low and not much is required to live comfortably.  This makes this state quite livable for retirees. The tax laws are also not too strict in the state with the social security benefits being fully exempted from any tax charges. The public and private pension income are, however, partially taxed. The sales and property taxes may also be slightly higher than the avenger but the lower cost of living offset the tax expenses.

Average Retirement Age: 63

Average Savings to Retire: $427,462

Savings Required to Live Comfortably: $880,889

Oklahoma is a good place for retirees to settle in. People are retiring early at the age of 62 in Oklahoma. The tax laws are also lenient in the state with the social security income being fully exempted from tax charges. The withdrawals from the retirement accounts, and public and private pension incomes are only partially taxed.

However, the statistics show that people are retiring with average savings much lower than what is needed to live comfortably in this state. To live comfortably, a reasonable amount of planning and preparedness in terms of savings would be required.

Average Retirement Age: 62

Average Savings to Retire: $361,366

Savings Required to Live Comfortably: $876,879

Oregon is not a highly favorable state for retirees mainly because of the cost of living. People are retiring at 63 on average but their actual savings are much lower than what is needed to live in Oregon. This is because the cost of living is quite high as can be seen from the statistics below. So naturally, people end up spending more and saving less for retirement in Oklahoma. Moreover, while the social security income is not taxed, withdrawals from retirement accounts are fully taxed. Income from public and private pensions are also taxed, but partially.

Average Retirement Age: 63

Average Savings to Retire: $452,558

Savings Required to Live Comfortably: $1,333,467

Even though the average cost of living is a little high in Pennsylvania, it is a friendly state to live in for retirees. This is mainly because considerable tax relaxations are provided to retirees with zero taxes levied on social security income, withdrawals from retirement accounts, and public and private pension income. Moreover, the marginal state tax rate on wages is also at 0%.

Average Retirement Age: 64

Average Savings to Retire: $462,075

Savings Required to Live Comfortably: $927,056

Rhode Island is not a very friendly place for retirees. This is because the cost of living in the state is relatively higher. People require a high amount of savings at retirement to live comfortably, but they are not able to collect enough due to the expenses. The gap between average savings and the savings required is considerable in Rhode Island as can be seen from the statistics below.

Moreover, social security is also partially taxed in this state; whereas, withdrawals from retirement accounts are fully taxed. The public and private pensions are also fully taxed making Rhode Island an unfriendly tax zone for retirees.

Average Retirement Age: 65

Average Savings to Retire: $392,622

Savings Required to Live Comfortably: $1,013,904

South Carolina, while not the best state for retirement, is still good for retirees for a few reasons. Firstly, the cost of living is relatively better than in other expensive states in the US and people are able to collect a reasonable amount of savings on average and still retire at an average age of 63.

Moreover, South Carolina is also a tax-friendly state for retirees as social security is not taxed at all. The retirement account withdrawals and, public and private pension income are only partially taxed.

Average Retirement Age: 63

Average Savings to Retire: $449,486

Savings Required to Live Comfortably: $904,527

South Dakota is one of the very friendly places to live for retirees, mainly because of tax reasons. It is also one of the states that do not require a very high amount of savings to live comfortably after retirement. The payment on the pre-tax income of $40000 is also nil and the marginal state tax rate on the wages is also at 0.0%.

Moreover, the social security in South Dakota is not taxed, along with the withdrawals from retirement accounts, and public and private pension income. They are all free of any tax charges which explains why the amount of savings required to live in the state is much lower than many others.

Average Retirement Age: 66

Average Savings to Retire: $449,628

Savings Required to Live Comfortably: $786,497

Tennessee is another good choice for retirees to spend their lives in retirement. The cost of living is not too high for retirees as compared to other states and they barely have to pay anything in taxes. There are no tax charges on any type of retirement income or benefits including social security income, retirement account withdrawals, and public and private pensions. The property tax rates are also quite low. However, one thing that may hit a retiree’s savings is the high sales tax charged by the state.

Average Retirement Age: 64

Average Savings to Retire: $376,476

Savings Required to Live Comfortably: $802,977

Texas is also grouped amongst states that are friendly for retirees. On average, people are retiring at the age of 65, but the average savings they collect are much closer to what is needed for a comfortable living. The average cost of living is also average and not too high.

In Texas, retirees are exempted from social security taxes and taxes on withdrawals from retirement accounts. Moreover, their pensions are also not taxed making this state one of the tax-friendly states for retirees.

Average Retirement Age: 65

Average Savings to Retire: $434,328

Savings Required to Live Comfortably: $785,109

Utah is not a very good choice for retirement in comparison. This is because the average cost of living in the state falls towards the higher end of the scale. People in Utah might have to work more to save more. Moreover, in terms of taxes, Utah is a hard state to live in for retirees. This is because the social security and the withdrawals from retirement accounts are fully taxed. Retirees have to pay partial taxes on their pensions too, be it public or private.

Average Retirement Age: 65

Average Savings to Retire: $315,160

Savings Required to Live Comfortably: $815,449

Vermont also requires a considerable amount of savings to live comfortably in the state. This is probably because the average cost of living index is high, making the state an expensive one to live in. This may result in extending the age at which people are able to retire.  Additionally, the public and private pensions, and withdrawals from the retirement accounts are fully taxed in Vermont. Social security is also partially taxed.

Therefore, in terms of the cost of living and taxes too, Vermont is not a very friendly state to choose for retirement.

Average Retirement Age: 65

Average Savings to Retire: $494,569

Savings Required to Live Comfortably: $1,014,762

Virginia is also on the expensive side when it comes to comparing states in terms of the cost of living. However, its tax laws are comparatively lenient which may make it a choice to consider for retirement. Social security income is not taxed in the state and the retirement account withdrawals and public and private pensions are only partially taxed. Moreover, the property and sales taxes in Virginia are quite low.

Average Retirement Age: 65

Average Savings to Retire: $492,965

Savings Required to Live Comfortably: $871,793

Regardless, of the high average cost of living, Washington is a friendly state for retirees to live in based on tax laws. One just needs to have enough savings. It is actually one of the few states that charge nothing for income tax. In Washington, social security income is not taxed, there are no tax charges levied on retirement account withdrawals, and even the pensions are tax-free.

Therefore for those who are able to save enough, Washington is a good state for retirement. With its tax exemptions, low crime rates, developed economy, and many facilities, it is actually becoming an increasingly popular choice for retirement in America.

Average Retirement Age: 64

Average Savings to Retire: $469,987

Savings Required to Live Comfortably: $1,034,174

West Virginia is a reasonable state for retirees to choose for retirement. The retirement incomes/benefits including social security and pensions are taxed partially, but the tax rates are lower than in many other states. Seniors can also claim a deduction in the tax rates. Moreover, it has one of the lowest tax rates on property and the sales tax is also considerably less.

However, people may need to plan ahead and take note of their spending habits to save an amount closer to what is required for living comfortably.

Average Retirement Age: 61

Average Savings to Retire: $370,532

Savings Required to Live Comfortably: $939,341

Wisconsin is also not the best option for life after retirement, especially for those on private pensions. A good amount of savings are required in the state to live comfortably. Moreover, the state charges full taxes on the amount withdrawn from retirement accounts. The private pension income is also fully taxed. Also, the taxes might be more burdensome for homeowners.

However, the good thing is that the social security income in Wisconsin is not taxed. Public pensions are also fully exempted from taxes in the state. Therefore, Wisconsin would be better for those on public pensions rather than private.

Average Retirement Age: 64

Average Savings to Retire: $448,975

Savings Required to Live Comfortably: $902,942

The cost of living in Wyoming is average and it is a very friendly state for retirees. This is mainly because of leniency in taxes toward retirees. The social security income in Wyoming is not taxed at all. Moreover, taxes on withdrawals from retirement accounts and public and private pension income are all nil too. The sales and property tax rates are also among the lowest in America, making it a great choice for retirement. One just needs to plan ahead and accumulate a reasonable amount of savings to fully enjoy life after retirement.

Average Retirement Age: 64

Average Savings to Retire: $381,133

Savings Required to Live Comfortably: $837,287