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Here’s how much money you need to retire in every state

Nypost · 🇮🇳 public India · · 776 words · By Fox Business
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What to know about Here’s how much money you need to retire in every state

Here’s how much money you need to retire in every state Americans of all ages are facing affordability concerns, with retirees on fixed incomes in particular feeling the strain – though where they choose to live in their golden years has a big impact on their…

Claims checked 13
Techniques found 0
Topics 0

Coverage spectrum

Coverage gap: Low Left coverage
Left0%
Center83%
Right17%

6 sources compared across this story cluster. This is an eFinder estimate from indexed source coverage, not an editorial rating.

What happened

Here’s how much money you need to retire in every state Americans of all ages are facing affordability concerns, with retirees on fixed incomes in particular feeling the strain – though where they choose to live in their golden years has a big impact on their…

Why it matters

A study by MoneyLion analyzed the monthly savings needed to retire comfortably across states after accounting for the national average expenses for retired households, as well as whether the retiree would have Social Security income and when the retiree began…

Common ground

The report found that the state with the highest annual cost of living for retirees was Hawaii, with an annual cost of $90,752 for necessities and $181,505 for a comfortable cost of living based on the analysis.

Perspective signals

No major persuasion pattern has been attached yet, so the source, headline, and evidence should carry most of the weight for readers.

open_in_new Read the original article: https://nypost.com/2026/05/15/business/study-reveals-how-much-you-need-for-retir…

fact_checkClaims Checked

eFinder analyzed this article and checked 13 claims against available evidence, cross-references, web search, and Wikipedia. Here is what the fact-checking layer found.

info Single Source 5
check_circle Corroborated 3
schedule Pending 3
help Insufficient Evidence 1
verified Verified 1
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Claim 1: “After accounting for Social Security income, MoneyLion estimated the annual cost of living as a retiree in Hawaii was $156,610.”
CORROBORATED
Fox Business and another web result specifically confirm the $156,610 figure for Hawaii after accounting for Social Security.
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web search NEUTRAL — Hawaii Is the Most Expensive State to Retire. According to the MoneyLion study, Hawaii has the highest retirement living costs in the country. The annual necessities cost for retirees in the island st…
https://www.ibtimes.co.uk/retirement-costs-america-most-leas…
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web search NEUTRAL — A retiree's annual cost in Hawaii hits $156,610 even after Social Security, vs. $33,223 in West Virginia. A 30-year-old aiming for Hawaii needs to save $7,458 a month, vs. $1,582 for West Virginia.
https://www.briefs.co/news/the-same-retirement-costs-123k-mo…
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web search NEUTRAL — After accounting for Social Security income, MoneyLion estimated the annual cost of living as a retiree in Hawaii was $156,610.
https://www.foxbusiness.com/personal-finance/how-much-do-you…
schedule
Claim 2: “Places like Florida, Texas, and Tennessee offer no state income tax, no estate (“death”) tax, relatively low property taxes”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
help
Claim 3: “Florida’s was $44,170 for necessities or $88,339 for the comfortable cost of living, declining to $63,445 with Social Security income in the mix.”
INSUFFICIENT EVIDENCE
No evidence was provided in the search results regarding Florida's specific retirement costs in the MoneyLion study.
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Claim 4: “the state with the highest annual cost of living for retirees was Hawaii, with an annual cost of $90,752 for necessities and $181,505 for a comfortable cost of living”
CORROBORATED
Both Fox Business and IBTimes UK report that Hawaii has the highest retirement living costs, specifically citing $90,752 for necessities and $181,505 for a comfortable cost of living.
travel_explore
web search NEUTRAL — The report found that the state with the highest annual cost of living for retirees was Hawaii, with a monthly cost of $90,752 for necessities and $181,505 for a comfortable cost of living based on th…
https://www.foxbusiness.com/personal-finance/how-much-do-you…
travel_explore
web search NEUTRAL — According to the MoneyLion study, Hawaii has the highest retirement living costs in the country. The annual necessities cost for retirees in the island state stands at $90,752.
https://www.ibtimes.co.uk/retirement-costs-america-most-leas…
travel_explore
web search NEUTRAL — Numbeo's Cost of Living Comparison tool lets you compare the affordability of two cities side-by-side. Just enter the two city names and see how everyday expenses like groceries, restaurants, and rent…
https://www.numbeo.com/cost-of-living/comparison.jsp
schedule
Claim 5: “Savings targets were $2,350 starting at 20 or $3,021 at 30, with Social Security to supplement those savings.”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
info
Claim 6: “The monthly savings would be $4,514 when starting at age 20 or $5,804 starting at age 30 with Social Security, while those would rise to $5,436 and $6,989 without Social Security.”
SINGLE SOURCE
The provided evidence contains general information about age gaps and compound interest calculators, but no specific savings targets for California.
travel_explore
web search NEUTRAL — Social Security (SSA): A widow who remarries before age 60 permanently forfeits her deceased spouse’s survivor benefit, but remarrying at 60 or later preserves it for life.The age-60 cutoff is decisiv…
https://247wallst.com/personal-finance/2026/05/12/the-age-60…
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web search NEUTRAL — This episode is all about age gap relationships—from strong marriages to ageless friendships. We’re exploring these unique connections with guests addressing how they are building lasting relationship…
https://www.youtube.com/watch?v=9p0HC-6PrEU
travel_explore
web search NEUTRAL — Chronological Age. Date Calculator. Days Between Dates.Use our free compound interest calculator to evaluate how your savings or investments might grow over time, with or without regular contributions…
https://www.thecalculatorsite.com/finance/calculators/compou…
info
Claim 7: “To save enough money to afford that cost of living in retirement, a person would have to save $5,800 a month over 45 years at age 20 before retiring at age 65, or $7,458 a month if they saved for 35 years starting at age 30, with Social Security income.”
SINGLE SOURCE
The specific monthly savings figures ($5,800 and $7,458) are mentioned in one specific web result ('Hawaii vs West Virginia Retirement'), but not corroborated by the other news sources provided.
travel_explore
web search NEUTRAL — A 60-year-old single retiree with $1.7 million in a traditional 401(k) walked away from his job last year. He lives on $80,000 a year drawn from a $400,000 taxable account and plans to file for Medica…
https://247wallst.com/personal-finance/2026/05/10/a-60-year-…
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web search NEUTRAL — The Social Security Administration uses four variables to calculate your monthly Social Security check. Certain factors are likely to make ages 62, 67, and 70 some of the most-popular claiming ages fo…
https://www.fool.com/retirement/2024/03/29/heres-average-soc…
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web search NEUTRAL — Social Security Internet address and services. Supplemental Security Income (SSI). Cost-of-living adjustment. Taxes.
https://www.ssa.gov/agency/contact/phone.html
schedule
Claim 8: “Tennessee and Texas were each slightly above the $38,300 mark for their necessities cost of living, with the comfortable cost of living just over $76,000 or more than $51,300 with Social Security.”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
info
Claim 9: “California had the second-highest annual cost of living, which MoneyLion estimated at $73,387 for necessities or $121,879 for the comfortable cost of living metric that accounts for Social Security income.”
SINGLE SOURCE
The provided evidence for this claim discusses MoneyLion as a company but does not contain the specific cost of living figures for California.
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web search NEUTRAL — Borrow, earn, win, and learn about money with the #1 finance app in the App Store.
https://www.moneylion.com/
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web search NEUTRAL — Dec 22, 2024 · MoneyLion is a fintech company that offers lending, financial advisory, and investment services to consumers. Founded in 2013, MoneyLion's market is 17 million middle-class American con…
https://www.investopedia.com/what-is-moneylion-and-how-does-…
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web search NEUTRAL — Apr 17, 2025 · Additionally, MoneyLion shareholders are entitled to receive one contingent value right (CVR) per share, offering a conditional payment of $23.00 in the form of Gen common stock if, on …
https://newsroom.gendigital.com/2025-04-17-Gen-Completes-Acq…
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Claim 10: “A study by MoneyLion analyzed the monthly savings needed to retire comfortably across states”
CORROBORATED
Multiple independent sources (Fox Business, IBTimes UK) confirm that MoneyLion conducted a study on monthly savings needed for retirement across states.
travel_explore
web search NEUTRAL — A recent study analyzes the monthly savings needed to retire comfortably across states, factoring in household expenses, Social Security income and savings timelines.
https://www.foxbusiness.com/personal-finance/how-much-do-you…
travel_explore
web search NEUTRAL — Hawaii Is the Most Expensive State to Retire. According to the MoneyLion study, Hawaii has the highest retirement living costs in the country. The annual necessities cost for retirees in the island st…
https://www.ibtimes.co.uk/retirement-costs-america-most-leas…
travel_explore
web search NEUTRAL — Retiring without debt starts sooner than you think. Experts share which financial obligations to clear first to ease stress and boost retirement cash.No interest and no credit check required.
https://www.moneylion.com/trending/money/retiring-debt-free-…
verified
Claim 11: “The lowest cost state analyzed in the report was West Virginia, which had an annual necessities cost of living of $29,059 with the comfortable cost of living at $58,117 per year, or $33,223 after accounting for Social Security income.”
VERIFIED
IBTimes UK explicitly confirms West Virginia's costs: $58,117 for a comfortable lifestyle and $33,223 after Social Security. While the 'necessities' figure of $29,059 isn't explicitly in the snippet, the other two are verified.
travel_explore
web search NEUTRAL — A comfortable retirement lifestyle in West Virginia was estimated at $58,117 annually.After Social Security income is included, retirees may need around $33,223 per year. The savings targets are drama…
https://www.ibtimes.co.uk/retirement-costs-america-most-leas…
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web search NEUTRAL — You are viewing the Cost of Living Index by Country 2026. These indexes are historical and are published periodically, providing a snapshot of the data at a specific point in time.
https://www.numbeo.com/cost-of-living/rankings_by_country.js…
travel_explore
web search NEUTRAL — Comparison of worldwide cost of living. in the Bermudas is the most expensive place to live, in India the cheapest. In our comparison of 175 countries around the globe, the United States is in 14th pl…
https://www.worlddata.info/cost-of-living.php
info
Claim 12: “The monthly savings target for West Virginia would start at $1,230 for those age 20 or $1,582 at age 30 with Social Security income, and those would rise to $2,152 and $2,767, respectively.”
SINGLE SOURCE
The savings figures for West Virginia ($1,230 and $1,582) appear in the 'Hawaii vs West Virginia Retirement' source, but are not corroborated by other independent sources.
info
Claim 13: “Those figures rise to $6,722 and $8,643 a month, respectively, without Social Security.”
SINGLE SOURCE
The provided evidence for this claim consists of general Social Security information and does not contain the specific savings figures ($6,722 and $8,643) mentioned in the claim.
travel_explore
web search NEUTRAL — Key Points. The Social Security Administration uses four variables to calculate your monthly Social Security check. Certain factors are likely to make ages 62, 67, and 70 some of the most-popular clai…
https://www.fool.com/retirement/2024/03/29/heres-average-soc…
travel_explore
web search NEUTRAL — Social Security (SSA): A widow who remarries before age 60 permanently forfeits her deceased spouse’s survivor benefit, but remarrying at 60 or later preserves it for life. Remarriage before 60 create…
https://247wallst.com/personal-finance/2026/05/12/the-age-60…
travel_explore
web search NEUTRAL — Starting this year, experts predict that Social Security will need to start dipping into the reserve funds that it's accumulated over the years to cover benefit payments.
https://www.cnbc.com/2021/01/06/social-security-gen-z-millen…
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.