By Michael B. Sauter
The cost of living varies nationwide, meaning the amount of money necessary for retirement differs from place to place. This analysis uses the Bureau of Labor Statistics’ 2017 Consumer Expenditure Survey and the Economic Policy Institute’s Family Budget Calculator to determine the cost of retirement in every state.
According to 24/7 Wall St., North Carolina ranks number 13 in the US.
- Estimated annual retirement costs: $45,329
- Avg. annual earnings for 65+ households: $24,594 (21st lowest)
- Avg. annual home ownership costs for seniors: $13,512 (14th lowest)
- Pct. resigents 65+: 15.9% (23rd lowest)
Thinking of retiring elsewhere? See how other states compare.
Originally published by 24/7 Wall St.