US EditionHow Much Money You Need to Retire in Your State – without Social Security
UNITED STATES, JUN 20 – GoBankingRates study highlights 12 careers allowing retirement at 52 without pension loss amid Social Security's projected 19% benefit cut after 2034, urging early savings planning.
- GoBankingRates released a study on February 21, 2025, calculating the savings needed to retire comfortably without Social Security across all 50 U.S. states.
- The study follows reports that Social Security trust funds will be depleted by 2034, triggering a mandatory 19% cut in scheduled benefits for recipients.
- The study defines a comfortable retirement as having double the amount needed for living expenses, with Hawaii requiring the highest savings of $3,721,237 at age 60.
- A Gallup survey in early June found that 50% of U.S. adults with retirement accounts expect to live comfortably in retirement, versus 31% lacking accounts.
- Experts recommend maximizing pension contributions during peak earning years, stress testing assets, and aligning spending with lifestyle goals to prepare amid Social Security uncertainty.
13 Articles
13 Articles
Americans face vastly different retirement costs across states as Social Security cuts loom
Retirement remains top of mind for many Americans, whether they are approaching their so-called "golden years" or have many years to go before leaving the workforce. How much money a person needs to have saved to retire without financial stress is an important consideration in the retirement preparation process, and that can vary depending on various factors, including where someone intends to live and their retirement income sources.A study rel…
New professions will be able to retire early in Spain without adversely affecting their pension.This is what the government has decided today, which has given the ok to the process to expand the catalogue of professionals who can retire earlier without being economically harmed.The Minister of Inclusion, Social Security and Migration, Elma Saiz, announced today, Tuesday, May 27, the new system of coefficients that will allow some professional pr…
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