One in five Americans aged 50 and over has no retirement savings<\/a>, and more than half worry that they won’t have enough money to last once they leave the workforce<\/a>, according to an AARP survey<\/a>.<\/p>\n However, where U.S. workers live can have a significant impact on their retirement<\/a> readiness.<\/p>\n Getting familiar with some of the key averages in your state, from 401(k)<\/a> balances to median incomes, life expectancies, cost of living and more, can help you understand just how prepared you are \u2014 or aren’t \u2014 for your golden years.<\/p>\n Related: How Much Money Do You Need to Retire Comfortably in Your State? Here’s the Breakdown.<\/a><\/b><\/p>\n Western & Southern Financial Group<\/a> examined those metrics and others to rank all 50 states based on where retirees have the best and worst readiness for retirement.<\/p>\n New Jersey, Connecticut, Maryland, Virginia and Vermont came out on top for states where people are most prepared for retirement, per the study.<\/p>\n What’s more, residents in Connecticut and New Jersey reported the highest average 401(k) balances: $546,000 and $514,000, respectively. Residents over the age of 65 in those states also have high median incomes<\/a> \u2014 over $96,000.<\/p>\n Related: Here Are the Best and Worst States for Retirement in 2025, According to a New Report<\/a><\/b><\/p>\n Americans living in West Virginia, Mississippi, Arkansas, Tennessee and Arizona may fare the worst in retirement<\/a>, according to the research.<\/p>\n Mississippi and Arkansas residents reported some of the lowest average 401(k) balances, at $348,000 and $364,000, respectively. In West Virginia and Arkansas, residents over the age of 65 have median incomes<\/a> under $58,000.<\/p>\n Related: These Are the States Where $1 Million in Retirement Savings Lasts the Longest (and Where You’ll Be Broke in No Time)<\/a><\/b><\/p>\n Check out Western & Southern Financial Group’s full ranking of Americans’ retirement readiness by state below:<\/p>\n Image Credit: Courtesy of Western & Southern Financial Group<\/sup><\/p>\n<\/div>\n One in five Americans aged 50 and over has no retirement savings<\/a>, and more than half worry that they won’t have enough money to last once they leave the workforce<\/a>, according to an AARP survey<\/a>.<\/p>\n However, where U.S. workers live can have a significant impact on their retirement<\/a> readiness.<\/p>\n Getting familiar with some of the key averages in your state, from 401(k)<\/a> balances to median incomes, life expectancies, cost of living and more, can help you understand just how prepared you are \u2014 or aren’t \u2014 for your golden years.<\/p>\n<\/div>\n![\"\"](\"https:\/\/assets.entrepreneur.com\/images\/misc\/1748555888_retirement-readiness-by-state.png?width=1000\")
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