Overview
- CareScout's state-by-state study, published Friday, June 26, projects seniors in 41 states plus the District of Columbia are likely to outlive their savings with an average shortfall of about $109,000 for a 65-year-old.
- The biggest projected deficits are concentrated in high-cost jurisdictions led by New York ($471,000), the District of Columbia ($432,000), California ($395,000) and Alaska ($350,000).
- Only nine states show a projected retirement surplus, led by Washington, New Hampshire and Colorado, reflecting how local prices, benefits and life expectancy change retirement math.
- Analysts point to longer life expectancy, rising long-term care and healthcare costs, low personal savings rates and many near-retirees lacking dedicated retirement accounts as the main causes of the gap.
- Federal and industry data show median balances for people approaching retirement remain far below comfort targets, so experts advise delaying Social Security, factoring care costs and location into plans, using workplace auto‑savings features, or buying long-term care insurance to reduce the risk of running out of money.