Study finds how much an individual would need to have saved to retire in Texas by their 40th birthday

Many working adults have asked themselves whether or not they’ll be able to achieve an early retirement, but the reality is that it’s not attainable anywhere in the U.S. without a substantial nest egg (and the income to go with it).

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In Texas, that nest egg would have to be at least $1 million in the bank, according to a new annual report by personal finance website GoBankingRates.

The report, “Early Retirement: Here’s How Much Savings Is Needed To Retire by 40 in Every State,” examined each state’s cost of living and Social Security benefits to determine exactly how much money you’d need to have stocked away to achieve an early retirement.

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