Your State's True Retirement Cost in 2026

Your State's True Retirement Cost in 2026

Heather Taylor

Wed, September 23, 2026 at 6:09 PM GMT+3 13 min read

The more money Americans can put toward their retirement savings, the better. Key findings from a new MoneyLion study, which ranked the 50 U.S. states based on where retirees are most and least likely to outlive their retirement savings, revealed that these funds deplete too fast (to where you run out of money) in 23 states, or nearly half of the country. Data also indicates there are 10 states where life expectancy after age 65 ensures a six-figure leftover retirement cushion – and Hawaii is one of them.

To find out what the cost of living after retirement looks like in every state, MoneyLion calculated the total cost of retirement (using each state's average mortgage and expenditure costs) and sourced the average Social Security benefits amount for retired workers. Using the average life expectancy at 65 (sourced from the Center for Disease Control's 2025 National Vital Reports), we calculated the total cost for retirement through life expectancy in each state. The median net worth for ages 65+ was also sourced and is 95% higher than the national median net worth.

As such, each state's median net worth was increased by 95% to calculate every state's estimated median net worth for ages 65+. The total retirement income was calculated using Social Security benefits and median net worth for ages 65+. To calculate the retirement cushion and rank states in order of most to least cushion leftover, we used the necessities cost for retirement from age 65 to total life expectancy and retirement income.

Key Findings

• Nebraska, New Hampshire and Washington are the top three U.S. states with the highest leftover retirement cushions. Each state's life expectancy at 65 and their retirement cushions are as follows: Nebraska (18.9 years and $295,069), New Hampshire (19.1 years and $265,417) and Washington (19.1 years and $216,077).

• The top 10 ranking states have leftover retirement cushions of $100,000 or more. Nebraska, New Hampshire and Washington aside, the rest of the list includes Maryland ($193,131), Minnesota ($178,894), Hawaii ($162,584), Colorado ($138,125), Iowa ($135,115), Pennsylvania ($131,410) and Illinois ($113,077).

• Retirees outlive their retirement savings by a whopping six figures in six states. Each state and its negative savings balance include Nevada (-$113,829), New Mexico (-$189,992), Alaska (-$192,137), Rhode Island (-$198,448), New York (-$340,712) and California (-$433,044).

• Which states have the highest and lowest life expectancy at 65? Hawaii boasts the most years (20.5) while West Virginia ranks last at 16.6.

Here's what the cost of living looks like after entering retirement in every U.S. state.

1. Nebraska

• Life expectancy at 65: 18.9 years

• Necessities cost for retirement (age 65 to total life expectancy): $718,290

• Average total Social Security benefits for retired worker for total life expectancy: $456,049

• Retirement income: $1,013,359

• Retirement cushion: $295,069

2. New Hampshire

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $1,039,685

• Average total Social Security benefits for retired worker for total life expectancy: $500,532

• Retirement income: $1,305,102

• Retirement cushion: $265,417

3. Washington

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $1,155,276

• Average total Social Security benefits for retired worker for total life expectancy: $481,178

• Retirement income: $1,371,353

• Retirement cushion: $216,077

4. Maryland

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $939,159

• Average total Social Security benefits for retired worker for total life expectancy: $487,815

• Retirement income: $1,132,290

• Retirement cushion: $193,131

5. Minnesota

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $842,916

• Average total Social Security benefits for retired worker for total life expectancy: $492,775

• Retirement income: $1,021,810

• Retirement cushion: $178,894

6. Hawaii

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $1,675,480

• Average total Social Security benefits for retired worker for total life expectancy: $487,299

• Retirement income: $1,838,064

• Retirement cushion: $162,584

7. Colorado

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $1,057,540

• Average total Social Security benefits for retired worker for total life expectancy: $474,165

• Retirement income: $1,195,665

• Retirement cushion: $138,125

8. Iowa

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $657,251

• Average total Social Security benefits for retired worker for total life expectancy: $447,021

• Retirement income: $792,366

• Retirement cushion: $135,115

9. Pennsylvania

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $734,141

• Average total Social Security benefits for retired worker for total life expectancy: $460,536

• Retirement income: $865,551

• Retirement cushion: $131,410

10. Illinois

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $745,366

• Average total Social Security benefits for retired worker for total life expectancy: $449,918

• Retirement income: $858,443

• Retirement cushion: $113,077

11. Michigan

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $682,079

• Average total Social Security benefits for retired worker for total life expectancy: $456,179

• Retirement income: $781,829

• Retirement cushion: $99,751

12. Idaho

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $958,042

• Average total Social Security benefits for retired worker for total life expectancy: $444,926

• Retirement income: $1,056,056

• Retirement cushion: $98,014

13. Florida

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $856,176

• Average total Social Security benefits for retired worker for total life expectancy: $456,656

• Retirement income: $954,101

• Retirement cushion: $97,925

14. Maine

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $919,852

• Average total Social Security benefits for retired worker for total life expectancy: $423,818

• Retirement income: $1,016,033

• Retirement cushion: $96,181

15. Kansas

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $646,459

• Average total Social Security benefits for retired worker for total life expectancy: $446,383

• Retirement income: $727,573

• Retirement cushion: $81,113

16. West Virginia

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $523,612

• Average total Social Security benefits for retired worker for total life expectancy: $378,092

• Retirement income: $602,342

• Retirement cushion: $78,729

17. Ohio

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $647,489

• Average total Social Security benefits for retired worker for total life expectancy: $410,734

• Retirement income: $711,814

• Retirement cushion: $64,325

18. North Dakota

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $763,638

• Average total Social Security benefits for retired worker for total life expectancy: $451,276

• Retirement income: $823,921

• Retirement cushion: $60,283

19. Tennessee

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $685,195

• Average total Social Security benefits for retired worker for total life expectancy: $404,133

• Retirement income: $739,533

• Retirement cushion: $54,338

20. Indiana

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $654,668

• Average total Social Security benefits for retired worker for total life expectancy: $432,009

• Retirement income: $707,544

• Retirement cushion: $52,876

21. Wisconsin

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $799,102

• Average total Social Security benefits for retired worker for total life expectancy: $464,726

• Retirement income: $831,326

• Retirement cushion: $32,224

22. South Dakota

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $790,965

• Average total Social Security benefits for retired worker for total life expectancy: $446,811

• Retirement income: $819,456

• Retirement cushion: $28,491

23. Wyoming

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $803,045

• Average total Social Security benefits for retired worker for total life expectancy: $449,226

• Retirement income: $821,871

• Retirement cushion: $18,826

24. Utah

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $1,007,060

• Average total Social Security benefits for retired worker for total life expectancy: $470,861

• Retirement income: $1,022,321

• Retirement cushion: $15,261

25. Virginia

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $874,392

• Average total Social Security benefits for retired worker for total life expectancy: $458,197

• Retirement income: $885,442

• Retirement cushion: $11,050

26. Alabama

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $597,227

• Average total Social Security benefits for retired worker for total life expectancy: $405,340

• Retirement income: $607,165

• Retirement cushion: $9,937

27. Mississippi

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $535,029

• Average total Social Security benefits for retired worker for total life expectancy: $363,574

• Retirement income: $533,770

• Retirement cushion: -$1,260

28. Connecticut

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $1,018,830

• Average total Social Security benefits for retired worker for total life expectancy: $521,805

• Retirement income: $1,015,350

• Retirement cushion: -$3,480

29. Georgia

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $742,656

• Average total Social Security benefits for retired worker for total life expectancy: $413,368

• Retirement income: $739,018

• Retirement cushion: -$3,638

30. Texas

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $720,673

• Average total Social Security benefits for retired worker for total life expectancy: $424,272

• Retirement income: $715,797

• Retirement cushion: -4,876

31. North Carolina

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $768,343

• Average total Social Security benefits for retired worker for total life expectancy: $430,058

• Retirement income: $762,338

• Retirement cushion: -$6,005

32. New Jersey

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $1,135,571

• Average total Social Security benefits for retired worker for total life expectancy: $515,100

• Retirement income: $1,124,280

• Retirement cushion: -$11,291

33. Missouri

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $656,766

• Average total Social Security benefits for retired worker for total life expectancy: $413,636

• Retirement income: $645,101

• Retirement cushion: -$11,665

34. Delaware

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $880,849

• Average total Social Security benefits for retired worker for total life expectancy: $489,694

• Retirement income: $862,339

• Retirement cushion: -$18,510

35. Montana

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $956,911

• Average total Social Security benefits for retired worker for total life expectancy: $432,489

• Retirement income: $935,784

• Retirement cushion: -$21,127

36. South Carolina

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $712,662

• Average total Social Security benefits for retired worker for total life expectancy: $431,201

• Retirement income: $684,506

• Retirement cushion: -$28,156

37. Oklahoma

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $575,573

• Average total Social Security benefits for retired worker for total life expectancy: $387,413

• Retirement income: $540,507

• Retirement cushion: -$35,065

38. Louisiana

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $583,371

• Average total Social Security benefits for retired worker for total life expectancy: $381,864

• Retirement income: $5

• Retirement cushion: - $35,308

39. Arkansas

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $569,857

• Average total Social Security benefits for retired worker for total life expectancy: $411,982

• Retirement income: $533,857

• Retirement cushion: -$3

40. Kentucky

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $584,222

• Average total Social Security benefits for retired worker for total life expectancy: $376,137

• Retirement income: $535,842

• Retirement cushion: -$48,380

41. Arizona

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $887,517

• Average total Social Security benefits for retired worker for total life expectancy: $430,217

• Retirement income: $828,602

• Retirement cushion: -$58,915

42. Massachusetts

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $1,329,761

• Average total Social Security benefits for retired worker for total life expectancy: $492,733

• Retirement income: $1,262,788

• Retirement cushion: -$66,973

43. Vermont

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $934,115

• Average total Social Security benefits for retired worker for total life expectancy: $477,276

• Retirement income: $849,9

• Retirement cushion: -$84,194

44. Oregon

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $1,026,322

• Average total Social Security benefits for retired worker for total life expectancy: $448,885

• Retirement income: $934,240

• Retirement cushion: -$92,082

45. Nevada

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $862,030

• Average total Social Security benefits for retired worker for total life expectancy: $409,486

• Retirement income: $748,201

• Retirement cushion: -$113,829

46. New Mexico

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $759,650

• Average total Social Security benefits for retired worker for total life expectancy: $418,533

• Retirement income: $569,658

• Retirement cushion: -$189,992

47. Alaska

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $993,371

• Average total Social Security benefits for retired worker for total life expectancy: $428,589

• Retirement income: $801,234

• Retirement cushion: -$192,137

48. Rhode Island

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $1,048,291

• Average total Social Security benefits for retired worker for total life expectancy: $477,198

• Retirement income: $849,843

• Retirement cushion: -$198,448

49. New York

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $1,079,202

• Average total Social Security benefits for retired worker for total life expectancy: $479,529

• Retirement income: $738,489

• Retirement cushion: -$340,712

50. California

• Life expectancy at 65:

• Necessities cost for retirement (age 65 to total life expectancy): $1,434,426

• Average total Social Security benefits for retired worker for total life expectancy: $457,472

• Retirement income: $991,382

• Retirement cushion: - $443,044

Methodology: For this study, MoneyLion analyzed each U.S. state to find the places where retirees will outlive their savings. MoneyLion sourced data including total population, population ages 65 and up, total households, and median household income from the U.S. Census ACS. The cost-of-living indexes were sourced from Missouri Economic and Research Information Center and using the national average expenditure costs for retired households, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey, the average expenditure costs can be calculated for each state. The average single-family home value was sourced from Zillow Home Value Index. Assuming a 20% down payment and using the national average 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data, the average mortgage can be calculated for each state. Using the average mortgage and expenditure costs, the total cost of retirement was calculated for each state. The average Social Security benefits for a retired worker in each state was sourced from the 2025 Annual Statistical Supplement from the Social Security Administration. The average life expectancy at 65 was sourced from the Center for Disease Control's 2025 National Vital Reports. Using the life expectancy at 65, the total cost for retirement through life expectancy was calculated for each state. Using the U.S. Census' SIPP data, the median net worth (including home equity) was sourced for each state and for selected characteristics. The median net worth for ages 65 and over is 95% higher than the national median net worth, so each state's median net worth was increased by 95% to calculate the estimated median net worth for ages 65 and over in each state. Using the Social Security benefits along with the median net worth (including home equity) for ages 65 and over in each state, the total retirement income was calculated for each state. The total cost of retirement until life expectancy was counted as retirement expenses and using retirement expenses along with the retirement income, the retirement cushion was calculated for each U.S. state. All data is up to date as of July 8, 2026.

This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.

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