Average retirement savings by state: Where are Americans saving the most — and least?

This Yahoo Finance article analyzes U.S. Census Bureau data on median retirement savings by state, highlighting significant geographic disparities. States with the highest median savings include Massachusetts, Hawaii ($149,000), Washington ($143,400), New Jersey ($134,000), and Maryland ($120,000). The article explains that cost of living, wages, and state tax policies heavily influence savings capacity. Higher-cost states like California, Hawaii, and New York require larger nest eggs but often offer higher wages. The analysis uses median rather than average figures to avoid distortion by high-net-worth households. It also notes that state income tax rates and retirement tax treatment vary considerably, affecting both saving ability and retirement income needs.