How does your state rank in retirement savings?

Core Insights - Retirement readiness in the U.S. varies significantly by state, with some households better prepared than others [1][3] - The average household with a retirement account has saved approximately $82,000, equivalent to about one year of their current annual income [1][2] State-by-State Analysis - Massachusetts has the highest average household retirement savings at $150,000, with nearly 75% of households utilizing tax-advantaged accounts [3] - Mississippi ranks lowest, with an average of $35,000 in retirement savings and only 41.8% of households using retirement-specific accounts [3] Account Preferences - Geographic preferences for retirement accounts differ, with Maryland having the highest share of households using 401(k)s, while Montana leads in IRA usage, including Roth and Keogh accounts [4] - These findings can assist financial advisors in identifying areas where clients may need more guidance in retirement planning [4]