Throughout America, the most affordable countries for retirement are in the south. to 20 years of retirement In Mississippi, a medium -class couple needs only about $ 270,000 after social security, according to the recent GoBankingrates research.
Middle -class income: 50,861 dollars to 152,584 dollars
The amount needed for a period of 20 years with social security: 555,068 dollars
The amount needed for retirement for 20 years without social security: 1,017,227 dollars
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Middle -class income: 60,649 dollars to 181,948 dollars
The amount needed for a period of 20 years with social security: 750,828 dollars
The amount needed for retirement for 20 years without social security: 1,212,987 dollars
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Middle -class income: $ 38,611 to 115,834 dollars
The amount needed for a period of 20 years with social security: 310,068 dollars
The amount needed for retirement for 20 years without social security: 772,227 dollars
Methodology: For this study, Gobankingches has analyzed each state to find out the amount you will need for retirement. Vers Gopangerstez found the total population, population between 65 years old, more than total families, and medium income for the family, all of whom are obtained from wiping American society. Using the cost of living for each state, as a source from the Research and Economic Information Center in Missouri, and the average cost of living for retired residents, where an investigative source of consumer spending was obtained in the statistics office, the average spending costs for each state was calculated. The average value of the house of one family from December 2024 was obtained from the Zillow Home Value Index, and the average cost of the mortgage was calculated (assuming that the batch provided by 10 % and the use of the average fixed mortgage rate for 30 years, as it was obtained from the economic research of the Federal Reserve). Using a average mortgage and average spending costs, average cost of living has been calculated. The income of the middle class is defined by the Pew Research Center as two -thirds of the multiplication of national national income. The minimum income needed to be the middle layer has been calculated and the necessary savings for retirement were calculated. The average income of one person from the Social Security Department was obtained for the month of December 2024, and the necessary retirement savings calculated after calculating the advantages of social security. All data were collected and updated as of January 24, 2025.
