Monday, November 2, 2015

West Virginians 32nd in average retirement savings

West Virginians rank 32nd nationally in average retirement savings, at $211,085.89.

Surprisingly, Delaware is No. 1, at $286,277.12.

Wyoming is last, at $153,182.46.

Even more surprising, to me, is that the difference between first and last is only $133,094.66, with the wealthiest not even double the savings of the poorest. 
By the time you factor in the cost of living in the various states compared to the average retirement savings, the top and the bottom really aren’t that far apart in living standards at retirement time.

For example, if your home costs you twice as much in one state as in the another state with higher savings, the disparity evaporates rapidly.

And most of the pensions are spent in Florida anyway by the snowbirds.

 

No comments:

Post a Comment