Updated
Updated · Arizona Daily Star · Jul 6
Arizona Retirees Need $810,000 Nest Egg as Annual Costs Hit $56,200
Updated
Updated · Arizona Daily Star · Jul 6

Arizona Retirees Need $810,000 Nest Egg as Annual Costs Hit $56,200

3 articles · Updated · Arizona Daily Star · Jul 6

Summary

  • $810,000 is the average savings a single person needs to retire comfortably in Arizona at 65, according to a new Investopedia study.
  • The estimate assumes the 4% withdrawal rule over 30 years and reflects average annual spending of $56,200 against $23,700 in Social Security income, leaving a $32,500 gap.
  • Arizona ranks around the middle of U.S. retirement affordability: its required nest egg is below the $898,000 national average, even as housing costs run higher than in many states.
  • North Dakota is the cheapest state for retirement at $644,000, while New Jersey and Hawaii are the most expensive at about $1.2 million; Arizona also benefits from no state tax on Social Security benefits.

Insights

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Are hidden healthcare costs making popular retirement states secretly unaffordable?
With savings goals so high, is the American retirement dream now simply a myth?