To tally the cost of retirement happiness, the website took the happiest cities and countries as well as the happiest U.S. states from the World Happiness Report. Then, researchers investigated the average salary, monthly living costs and average life expectancy of each city to determine the median retirement savings needed.
Audley Villages listed the best cities based on the aforementioned factors in a scored ranking of each data column to calculate the best and worst cities for retirement. Doing so determined the best overall cities when examining both happiness and cost-related metrics.
More than 56 countries were analyzed in addition to all 50 U.S. states.
Georgia came in at No. 19, where the average life expectancy is 78 years old. Typically, Georgians save an average of $187,186 for retirement and earn a median salary of $61,588 annually. The monthly living costs average $1,219 and the state scored nearly down the middle on the World Happiness Report, having a happiness index of 5.5.
As for how the Peach State compares to others in the country, living in Hawaii, where America’s happiest residents reside, will allow you to retire with the most savings at $304,591 before turning 65.
Still, there’s a higher monthly cost of living at $1,467, so it’s imperative that residents are astute when it comes to retirement fund management to save responsibly.
For a complete list of what you need to save and earn in the top 25 happiest states, visit Audley Villages' website.