Do you have enough money in retirement? Probably not, study says

Only in three states do retired seniors achieve 70 percent of their pre-retirement income, with 70 percent being the figure most financial advisers agree is the minimum required to survive and thrive while retired.

A study by the financial data aggregator Bankrate notes that seniors in Hawaii, Alaska and South Carolina made the cut.

Seniors in Washington did not.

Hawaii rated highest in the survey, with 72.59 percent of seniors “safely” retired. Massachusetts came last, at 48.22 percent. The survey calculated the national average at 60.27 percent.

Washington seniors settled between Idaho and Wyoming and below the national average at 59.81 percent.

Using data from the U.S. Census Bureau, the percentages were calculated by dividing median annual household income for those 65 and older by the median annual household income for those people in their later working years, between the ages of 45 and 64.

The median household income for retired seniors in Washington is $44,104, while those still working between 45 and 64 earn a median $73,740.

C.R. Roberts: 253-597-8535