Retiring early is the ultimate dream for many, but doing it successfully requires more than just a large 401(k). The latest data shows that certain states have become magnets for those exiting the workforce well before the national average age of 62.

While some choose to retire early to pursue hobbies or travel, others do so because of the lower cost of living in specific regions. CheapInsurance.com gives the breakdown of the top 10 states where residents are hanging up their hats the earliest.

car insurance in states with the youngest retirees

Here are the 10 states with the youngest retirees and some key information about each one:

welcome to utah life elevated. 10 states with the youngest retirees

1. Utah

Utah has the youngest average retirement age at just 60.2 years old. The state is appealing due to its low cost of living and proximity to stunning national parks, which offer a wide range of outdoor activities.

  • Average retirement age: 60.2
  • Average cost of living index: 94.2
  • Average annual income: $66,680
  • Climate: Humid continental
  • Average annual car insurance cost: $1,955
alaska village, 10 states with the youngest retirees

2. Alaska

With an average retirement age of 60.3, Alaska is known for its natural beauty and abundant wildlife, attracting retirees who want an active, outdoorsy lifestyle.

  • Average retirement age: 60.3
  • Average cost of living index: 128.2
  • Average annual income: $71,530
  • Climate: Subarctic
  • Average annual car insurance cost: $1,946
texas blue bells, 10 states with the youngest retirees

3. Texas

Texas has the third-youngest average retirement age at 60.5. Its appeal lies in its diverse economy, warm weather, and low taxes, making it a popular choice for those seeking a lower cost of living.

  • Average retirement age: 60.5
  • Average cost of living index: 97.8
  • Average annual income: $63,120
  • Climate: Humid subtropical
  • Average annual car insurance cost: $2,938
smyrna market village georgia

4. Georgia

Retirees in Georgia enjoy an average retirement age of 60.6. The state offers Southern hospitality, a mild climate, and a relatively low cost of living.

  • Average retirement age: 60.6
  • Average cost of living index: 95.9
  • Average annual income: $59,140
  • Climate: Humid subtropical
  • Average annual car insurance cost: $1,720
union station denver colorado, 10 states with the youngest retirees

5. Colorado

With an average retirement age of 60.7, Colorado attracts those seeking a healthy and active lifestyle with its Rocky Mountain scenery and vast outdoor recreation opportunities.

  • Average retirement age: 60.7
  • Average cost of living index: 105.8
  • Average annual income: $67,820
  • Climate: Humid continental
  • Average annual car insurance cost: $2,291
Cathedral of Our Lady of Perpetual Help, 10 states with the youngest retirees

6. Oklahoma

Oklahoma’s average retirement age is 60.8. Its low cost of living and friendly residents make it an ideal place for retirees looking for a relaxed lifestyle.

  • Average retirement age: 60.8
  • Average cost of living index: 90.8
  • Average annual income: $56,070
  • Climate: Humid continental
  • Average annual car insurance cost: $2,291
boise depot, 10 states with the youngest retirees

7. Idaho

Idaho has an average retirement age of 60.9. It offers a quiet and peaceful lifestyle with a low cost of living and an abundance of natural beauty and outdoor activities.

  • Average retirement age: 60.9
  • Average cost of living index: 94.3
  • Average annual income: $58,810
  • Climate: Semi-arid
  • Average annual car insurance cost: $1,021
wyoming, 10 states with the youngest retirees

8. Wyoming

Wyoming’s average retirement age is 61. The state is known for its wide-open spaces, natural beauty, and tax-friendly environment, which is especially attractive to retirees.

  • Average retirement age: 61
  • Average cost of living index: 92.5
  • Average annual income: $67,480
  • Climate: Semi-arid
  • Average annual car insurance cost: $1,341
Abandoned church North Dakota, 10 states with the youngest retirees

9. North Dakota

With an average retirement age of 61.1, North Dakota appeals to those who value a safe, secure, and affordable lifestyle.

  • Average retirement age: 61.1
  • Average cost of living index: 92.2
  • Average annual income: $59,440
  • Climate: Humid continental
  • Average annual car insurance cost: $1,319
Mount Rushmore, 10 states with the youngest retirees

10. South Dakota

South Dakota’s average retirement age is 61.2. The state offers a relaxed and peaceful atmosphere, along with iconic landmarks like Mount Rushmore and a low cost of living.

  • Average retirement age: 61.2
  • Average cost of living index: 91.9
  • Average annual income: $57,220
  • Climate: Humid continental
  • Average annual car insurance cost: $1,821
young retirees at a picnic

Frequently Asked Questions About Young Retiree States

Which states have the youngest retirees?

States with the youngest retirees tend to have favorable climates, lower cost of living, and retiree-friendly policies. Examples include states like Florida, Arizona, and Texas, where people often retire earlier to enjoy warm weather and tax advantages.

Why do some states attract younger retirees?

Younger retirees are attracted to states with lower living costs, mild climates, access to healthcare, and retirement benefits. States with no or low income tax, recreational opportunities, and strong social networks for retirees also tend to draw early retirees.

How can I plan to retire in one of these states?

Planning to retire in a state with a younger retiree population involves budgeting for cost of living, researching healthcare options, and considering tax policies. Evaluating housing, transportation, and community amenities can help ensure a smooth transition into early retirement.

Disclosures: The data on cost of living, income, temperature, and car insurance costs are averages and can vary widely based on specific locations within each state and individual circumstances.

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Published

May 1, 2025

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