54°
MagnifyMoney's analysts found that there are 28 metros in the United States where retirees need to save at least $1 million to retire with an average lifestyle.
The website reported that analysts based the amount required to retire on the average amount that retirees spend in a year in each of the locations.
The location with the largest amount of savings needed to retire was San Francisco, $1.56 million needed, according to the report.
Some Northeast metros ranked high on the list, including New York City, which came in at fifth with $1.34 million needed to retire.
Poughkeepsie was listed at 13th, with projected savings needed to be $1.21 million.
Boston was listed as 18th, with $1.12 million in savings needed to retire.
Finally, Bridgeport broke the $1 million mark and was ranked 22nd, with an estimated $1.03 million needed to retire.
Check out the full report here.
Click here to follow Daily Voice Armonk and receive free news updates.
