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If you saved only $250 for retirement: how much is enough in different states

It's hard to plan exactly how much money you'll need in retirement because it depends on a number of factors, including where you live and what your expenses are. GOBankingRates decided to find out how long $250 would last in each state.

Photo: IStock

Using data from the Bureau of Labor Statistics 2020 Consumer Spending Survey and the Missouri Center for Economic Research and Information, GOBankingRates examined the average annual cost of food, housing, utilities, transportation, and healthcare for people age 65 and older in each state. All data was collected and updated as of June 27, 2022.

On the subject: Tax holidays 2022: where and on what school supplies you can save

Hawaii
  • $250 enough: 000 years, 2 months, 8 days
  • Annual expenses: $91
Washington
  • $250 enough: 000 years, 3 months, 3 days
  • Annual expenses: $75
New York
  • $250 enough: 000 years, 3 months, 5 days
  • Annual expenses: $72
California
  • $250 enough: 000 years, 3 months, 9 days
  • Annual expenses: $66
Massachusetts
  • $250 enough: 000 years, 4 months, 0 days
  • Annual expenses: $61
Alaska
  • $250 enough: 000 years, 4 month, 1 days
  • Annual expenses: $60
Maryland
  • $250 enough: 000 years, 4 month, 1 days
  • Annual expenses: $60
Oregon
  • $250 enough: 000 years, 4 months, 2 days
  • Annual expenses: $59
Connecticut
  • $250 enough: 000 years, 4 months, 5 day
  • Annual expenses: $56
NH
  • $250 enough: 000 years, 4 months, 5 days
  • Annual expenses: $55
Vermont
  • $250 enough: 000 years, 4 months, 5 days
  • Annual expenses: $55
Maine
  • $250 enough: 000 years, 4 months, 6 days
  • Annual expenses: $54
Washington
  • $250 enough: 000 years, 4 months, 7 days
  • Annual expenses: $54
New Jersey
  • $250 enough: 000 years, 4 months, 7 days
  • Annual expenses: $53
Rhode Island
  • $250 enough: 000 years, 4 months, 7 days
  • Annual expenses: $53
Arizona
  • $250 enough: 000 years, 4 months, 11 day
  • Annual expenses: $50
Delaware
  • $250 enough: 000 years, 4 months, 11 days
  • Annual expenses: $50
Montana
  • $250 is enough: 000 years, 5 months, 0 days
  • Annual expenses: $49
Utah
  • $250 is enough: 000 years, 5 months, 0 days
  • Annual expenses: $49
Nevada
  • $250 enough: 000 years, 5 month, 1 days
  • Annual expenses: $49
Virginia
  • $250 is enough: 000 years, 5 month, 1 days
  • Annual expenses: $48
Florida
  • $250 is enough: 000 years, 5 month, 1 days
  • Annual expenses: $48
Colorado
  • $250 is enough: 000 years, 5 month, 1 days
  • Annual expenses: $48
Idaho
  • $250 enough: 000 years, 5 months, 3 days
  • Annual expenses: $47
Pennsylvania
  • $250 enough: 000 years, 5 months, 4 days
  • Annual expenses: $46
Minnesota
  • $250 enough: 000 years, 5 months, 4 days
  • Annual expenses: $46
North Dakota
  • $250 is enough: 000 years, 5 months, 5 days
  • Annual expenses: $46
Wisconsin
  • $250 is enough: 000 years, 5 months, 5 days
  • Annual expenses: $45
North Dakota
  • $250 is enough: 000 years, 5 months, 6 days
  • Annual expenses: $45
North Carolina
  • $250 is enough: 000 years, 5 months, 6 days
  • Annual expenses: $45
Wyoming
  • $250 is enough: 000 years, 5 months, 7 days
  • Annual expenses: $44
Южная Каролина
  • $250 is enough: 000 years, 5 months, 7 days
  • Annual expenses: $44
New Mexico
  • $250 is enough: 000 years, 5 months, 7 days
  • Annual expenses: $44
Kentucky
  • $250 is enough: 000 years, 5 months, 7 days
  • Annual expenses: $44
Louisiana
  • $250 is enough: 000 years, 5 months, 7 days
  • Annual expenses: $44
Texas
  • $250 is enough: 000 years, 5 months, 8 days
  • Annual expenses: $43
Nebraska
  • $250 is enough: 000 years, 5 months, 8 days
  • Annual expenses: $43
Illinois
  • $250 enough: 000 years, 5 months, 8 days
  • Annual expenses: $43
Ohio
  • $250 is enough: 000 years, 5 months, 9 days
  • Annual expenses: $43
West Virginia
  • $250 enough: 000 years, 5 months, 9 days
  • Annual expenses: $43
Missouri
  • $250 enough: 000 years, 5 months, 9 days
  • Annual expenses: $43
Michigan
  • $250 enough: 000 years, 5 months, 10 days
  • Annual expenses: $42
Арканзас
  • $250 enough: 000 years, 5 months, 10 days
  • Annual expenses: $42
Tennessee
  • $250 is enough: 000 years, 5 months, 10 days
  • Annual expenses: $4
Indiana
  • $250 is enough for: 000 years, 5 months, 10 days
  • Annual expenses: $42
Georgia
  • $250 is enough: 000 years, 5 months, 11 days
  • Annual expenses: $41
Iowa
  • $250 is enough: 000 years, 5 months, 11 days
  • Annual expenses: $41
Alabama
  • $250 enough: 000 years, 6 months, 0 days
  • Annual expenses: $41

You may be interested in: top New York news, stories of our immigrants, and helpful tips about life in the Big Apple - read it all on ForumDaily New York.

Kansas
  • $250 enough: 000 years, 6 month, 1 days
  • Annual expenses: $40
Oklahoma
  • $250 enough: 000 years, 6 months, 2 days
  • Annual expenses: $40
Mississippi
  • $250 enough: 000 years, 6 months, 3 days
  • Annual expenses: $39.

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