It’s Shocking How Much Money You Need To Save When Retiring In Montana

The Reality Of Retiring In Montana

As much as I love my job, and I really do love it, at the end of the day it is still a job.

Radio is something I could probably keep doing forever. However, like most people, I would like to try a few other things in life too, which means at some point I will probably look at retiring.

Retirement Is Getting More Expensive

There was a time when the plan seemed simple. You worked your whole career, turned 65, got a gold watch, and spent the rest of your days doing whatever you wanted.

These days, it is not quite that easy.

Retirement has gotten really expensive, and for a lot of people it feels harder and harder to reach. The cost of living keeps climbing, which means the amount of money you need saved up for retirement keeps going up too. It also varies a lot depending on what state you live in.

And here is a little secret about Montana. It is not exactly cheap to retire here.

How Much Money You Need To Retire In Montana

According to Cheapism, which highlighted a recent report from GoBankingRates, the numbers can be pretty eye-opening.

The report looked at each state’s typical expenses and overall cost of living to estimate what retirees might need saved up.

Here in Montana, the number comes out to about $1,125,377 in savings to retire comfortably. That is because the estimated annual cost of living sits around $67,452.

If that is the number I need before I can retire, I might end up staying on the air until I die.

Or maybe the trick is finding a cheaper county here in Montana. Take a look at the gallery below to see which Montana counties are considered the best places to retire under the Big Sky.