5 States Where You May Not Be Able to Retire at Age 65

This article takes a look at the 5 states where you may not be able to retire at age 65. If you wish to check out our detailed analysis of social security challenges and state-by-state considerations, you may go to 20 States Where You May Not Be Able to Retire at Age 65.

5. Connecticut

Average Retirement Age: 65      

Estimated Annual Cost of Retirement: $70,817

Colorado is among the top 5 states where you may not be able to retire at age 65. The cost of living in this state is 13.9% higher than the state average. Moreover, the estimated annual cost of retirement is $70,817, implying an average monthly cost of $5,900. While retirees are retiring at age 65, on average, more and more of them will choose not to do so in the coming years to deal with medical expenses and other economic pressures. While it may not be feasible for the average retiree to retire below 65, the US Census Bureau notes that there are more than 580,000 seniors aged 65 to 84 in the state. The state gained 3.44 percent gain over the 12 months through June of 2022.