How much money will you need to retire?

According to a recent analysis by GoBankingRates.com, it takes more than $1 million to have a comfortable retirement in any state in America. That figure grows to more than $2 million if youre planning to retire in Hawaii or the District of Columbia.

The average age most people retire varies from state to state as well. The GoBankingRates.com analysis showed the average retirement age in every single state is below 67, though the District of Columbia comes in higher. On average, people in the U.S. retire at age 64.

The average retirement age in Alabama is a few years younger - 62. Thats one of the lowest average ages in the country.

The lowest average retirement age was 61 in West Virginia and Alaska.

At 67, the highest average retirement age was in the District of Columbia, followed by Hawaii (66); Massachusetts (66); and South Dakota (66).

The study showed the annual cost of a comfortable retirement in Alabama was $55,425, one of the lower figures in the country (you can compare that to $100,879 per year in Washington, D.C.)

You can see how every state ranks here.

See the article here:
This is the average retirement age in Alabama - AL.com