Retired people in this state will outperform the savings by about half a million dollars

New analysis from Major Put the American Retirement The crisis to black and white numbers. On a national basis, the elderly in 41 are expected to exceed 50 states, along with those in Washington, DC, their savings. Specifically, the elderly people see the elderly who are not less than $ 115,000.

Read the following: 50 places cheaper for retirement throughout America

Explore more: To what extent does 750 thousand dollars retire in addition to social security in each American region

Unfortunately, this is the blatant reality that many Americans face when it comes to retirement. But although these statistics are greatly, things are worse in New York State.

See too How much $ 1 million in retirement will continue in each state.

According to the elderly, New York is the first rank in the country when it comes to a brief in terms of retirement needs. The normal number of New York is expected to face a shortage of $ 448,000 in retirement. Total expenses are expected for $ 1.12 million, however Retirement It is only 670,000 dollars on average, according to data.

New York is not the most expensive state. In fact, four other states (as well as Washington, DC) have higher expenses:

• Hawaii: $ 1.74 million

• Massachusetts: $ 1.31 million

• California: $ 1.26 million

• Washington, DC: $ 1.14 million

But New York is still leading in terms of a Retirement savings Because income is higher in these sites. Hawaii, for example, has the highest total retirement income in the country, at $ 1.32 million. This is almost poor income in New York, which leads to contrast.

However, Hawaii is still ranked second in terms of retirement deficit for the elderly. Massachusetts, California and Washington, Rank No. 6, No. 5 and No. 3, respectively.

Payment: 25 cities where you can retire in the wonderful weather for $ 2000 per month

The results of the study differ from one state to another, but the bottom line is that only nine states have an average income that exceeds the average Expenditures in retirement.

The good thing about retirement expectations is that they are just expectations. Although you cannot control every variable when it comes to pension planning, you can increase your chances of increasing your money. Here are some important steps, according to what she said:

• Use tools: There are a lot of online calculators that can help you determine the duration of your savings. Play with different variables, such as the return on investment, longevity and expenses, to find out how it can affect your total outcome.

• Do not assume that you are average: No one understands your lifestyle is better than you do. Although the averages of the case separately can be a place to start, the modification of these data is based on your real personal income and expenses for more accurate projection.

• Improving your social security strategy: You may want to think about working with a financial specialist to help you choose the best time to demand The benefits of social security.

• An unexpected expenses: Income and investment returns and expenses are all variables that may not come in the place where you do. To help cover unexpected costs that can hinder your financial plan, build an emergency fund and consider additional insurance, such as long -term and/or umbrella care policies.

• Talk about your plan: Whether it is with your wife, other important children, adult children or financial advisor, if you wear your plan, someone can provide you with visions that you may lose regarding how to meet your strategy your needs.