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.