At what age do you hope to retire? If youre like the majority of workers, youre probably planning to stop punching the clock by the time you turn 65.

A survey by the Employee Benefit Research Institute (EBRI) found that 54% of respondents said they expect to retire at age 65 or younger. However, a significant percentage of workers expect to keep clocking in until theyre much older. One-third of respondents said they dont expect to retire until theyre 70 or older. Some dont plan to retire at all.

Its one thing to have an idea of when you want to retire. Its another thing altogether to know whether youll actually be able to retire. Several factors can affect your retirement plans including whether youll have enough saved by your ideal retirement age to stop working. The EBRI survey found that less than half of workers 42% had tried to figure out how much they would need to have saved by the time they retired to live comfortably.

Using an online retirement calculator is a great way to get an estimate of how much you should save to retire by a certain age. To give you an idea, though, of when you might realistically be able to retire and how much in savings you would need depending on where you live, GOBankingRates crunched the numbers for you.

To determine the most realistic retirement age in every state, GOBankingRates first calculated the median income by age in every state using Census Bureau data to find out how much people could set aside in savings at various ages. Then GOBankingRates used findings from its January 2020 study on how much savings one needs across America to retire comfortably to pinpoint an ideal savings target amount for each state. To find out how long it would take workers in every state to save up to the states ideal savings target, GOBankingRates assumed the following:

Using the above assumptions, GOBankingRates found how much a worker in each state earning a median income could have saved at ages 24, 34, 44 and 58 to 77 years of age. Once the ideal savings target as identified by the earlier GOBankingRates study was met or exceeded, the following year was determined to be the ideal retirement age of each state.

You might be surprised to find that if you start saving 20% of your income starting at age 22, the realistic retirement age in your state might be sooner than you think. Or you might have to work longer than you expected.

Last updated: Jan. 23, 2020

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Methodology: To determine the most realistic retirement age in every state, GOBankingRates first found median income in each state, according to the 2018 current population survey conducted by the U.S. Census Bureau. To calculate income by age bracket (15-24, 25-34, etc.), GOBankingRates first divided the median income of each state by the median income nationally to derive an income index that was use to factor out income by age for each state. Once the median income by age was calculated for each state, GOBankingRates found an ideal savings target for each state, sourced from a January 2020 GOBankingRates study (Heres Exactly How Much Savings You Need to Retire in Your State), which assumes one will draw 4% from their savings each year to pay for living expenses. Finally, GOBankingRates set three constants for the type of savings that would occur: (1) workers start working at age 22; (2) workers are following the 50/30/20 rule (allocating 50% of personal income to necessities, 30% to wants and 20% to savings); and (3) workers are saving 14% in a typical savings account, in addition to putting 6% into a 401(k) with a 50% employer match (up to 3%) and an average annual return of 5%. Using those constants, GOBankingRates found the savings total of each state at 24, 34, 44 and 58-77 years of age. Once the ideal savings goal was met or exceeded, the following year was determined to be the ideal retirement age of each state. All data was collected and is-up-to date as of Jan. 8, 2020.

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Heres Exactly How Much Savings You Need to Retire in Your State methodology: To find out exactly how much is needed to retire in each state, GOBankingRates found the annual cost of expenditures for a retired person in each state by multiplying expenditures for those over the age of 65 from the Bureau of Labor Statistics 2018 Consumer Expenditure Survey by the cost-of-living index for each state from the Missouri Economic Research and Information Centers third quarter 2019 cost of living series. To find how much money a retired person would need to save, GOBankingRates divided each states annual expenditures, minus the annual Social Security income as sourced from the Social Security Administrations monthly statistical snapshot, November 2019, by .04, assuming drawing down savings by 4% each year to pay for living expenses. All data was collected and is up-to-date as of Dec. 13, 2019.

This article originally appeared on GOBankingRates.com: The Most Realistic Retirement Age in Every State

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