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Brand-New Report Reveals How Much Money You Need To Retire In These Parts Of Region

A new report has reported just how much money residents need to save up to retire in certain cities in the United States. 

A new report has reported just how much money residents need to save up to retire in certain cities in the United States.

A new report has reported just how much money residents need to save up to retire in certain cities in the United States.

Photo Credit: Pixabay/QuinceCreative

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.

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