A fresh analysis from Investopedia pegs the cost of a comfortable retirement for a single American at approximately $898,000. The figure assumes retirement at age 65 and factors in average life expectancy, healthcare costs, and inflation-adjusted living expenses.
Regional variations are stark. Retirees in Hawaii face the highest required nest egg, while those in Mississippi need significantly less due to lower costs of living. The analysis did not break down specific state-by-state numbers.
Affordability remains a pressing concern as rising prices erode purchasing power. The $898,000 target represents a baseline that many households may find difficult to reach, given that median retirement savings for Americans near retirement age hover far lower.
The report does not address how home equity or Social Security benefits might offset savings needs. It also assumes a single-person household, leaving couples with a different—often higher—target.
Economists caution that individual circumstances vary widely. The Investopedia model does not account for unexpected healthcare costs or market downturns, which could push actual savings requirements higher for many retirees.