Special Report

What It Costs to Retire Comfortably in Every State

Source: Art Wager / Getty Images

Hawaii
> Est. total retirement spending: $1,392,579 (the most)
> Avg. cost of living: 19.3% more than avg. (the highest)
> Avg. homeownership cost for citizens 65 and older with no mortgage: $534 per month (16th highest)
> Pop. 65 and older: 19.0% (7th highest)

Source: vkbhat / Getty Images

Idaho
> Est. total retirement spending: $984,431 (23rd least)
> Avg. cost of living: 7.8% less than avg. (21st lowest)
> Avg. homeownership cost for citizens 65 and older with no mortgage: $384 per month (9th lowest)
> Pop. 65 and older: 16.2% (16th lowest)

Source: Sean Pavone / Getty Images

Illinois
> Est. total retirement spending: $1,045,340 (20th most)
> Avg. cost of living: 2.6% less than avg. (21st highest)
> Avg. homeownership cost for citizens 65 and older with no mortgage: $617 per month (8th highest)
> Pop. 65 and older: 16.1% (14th lowest)

Source: Davel5957 / Getty Images

Indiana
> Est. total retirement spending: $897,991 (9th least)
> Avg. cost of living: 11.3% less than avg. (10th lowest)
> Avg. homeownership cost for citizens 65 and older with no mortgage: $406 per month (12th lowest)
> Pop. 65 and older: 16.1% (13th lowest)

Source: pabradyphoto / Getty Images

Iowa
> Est. total retirement spending: $950,264 (16th least)
> Avg. cost of living: 11.0% less than avg. (12th lowest)
> Avg. homeownership cost for citizens 65 and older with no mortgage: $498 per month (22nd highest)
> Pop. 65 and older: 17.5% (17th highest)

Sponsored: Tips for Investing

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.