Everyday living costs play a major role in how much money you need to retire.

A new state-by-state analysis from personal finance website GOBankingRates shows that the estimated total savings needed to retire at 65 can differ by as much as $1.46 million depending on where you live.

In Hawaii, retirees need about $2.2 million to stop working at 65 and cover essential living expenses for 25 years, including housing, groceries, transportation, utilities and health-care costs. That is the highest estimated minimum of any state. By comparison, Oklahoma has the lowest estimated total, at $735,284, to cover the same basic costs.

The analysis is based on the average living costs for retirees 65 or older in each state, drawn from the latest data published by the U.S. Bureau of Labor Statistics. From there, GOBankingRates subtracted average Social Security payments and estimated the savings needed to cover the remaining expenses using an annual 4% withdrawal rate.

The resulting figures represent a baseline for covering essential costs and don't factor in discretionary spending such as travel, dining or entertainment. Additionally, the estimates don't account for factors such as inflation, lifestyle changes or unexpected costs.

Housing is the biggest factor in annual retirement costs, as it varies by roughly $30,000 annually between states. Utilities and health-care costs can range by as much as $5,000 annually, the study finds.

Here's a look the minimum amount of savings needed to retire at 65 in each state, in alphabetical order.

Alabama Annual cost of living: $53,999 Savings you need to retire: $789,037 Alaska Annual cost of living: $78,449 Savings you need to retire: $1,400,286 Arizona Annual cost of living: $66,838 Savings you need to retire: $1,110,019 Arkansas Annual cost of living: $54,859 Savings you need to retire: $810,538 California Annual cost of living: $83,978 Savings you need to retire: $1,538,508 Colorado Annual cost of living: $63,091 Savings you need to retire: $1,016,336 Connecticut Annual cost of living: $70,094 Savings you need to retire: $1,191,417 Delaware Annual cost of living: $63,152 Savings you need to retire: $1,017,871 Florida Annual cost of living: $61,125 Savings you need to retire: $967,190 Georgia Annual cost of living: $56,395 Savings you need to retire: $848,933 Hawaii Annual cost of living: $110,393 Savings you need to retire: $2,198,902 Idaho Annual cost of living: $60,818 Savings you need to retire: $959,511 Illinois Annual cost of living: $58,913 Savings you need to retire: $911,901 Indiana Annual cost of living: $55,657 Savings you need to retire: $830,504 Iowa Annual cost of living: $55,473 Savings you need to retire: $825,896 Kansas Annual cost of living: $54,613 Savings you need to retire: $804,395 Kentucky Annual cost of living: $56,456 Savings you need to retire: $850,469 Louisiana Annual cost of living: $56,947 Savings you need to retire: $862,756 Maine Annual cost of living: $70,155 Savings you need to retire: $1,192,953 Maryland Annual cost of living: $73,043 Savings you need to retire: $1,265,135 Massachusetts Annual cost of living: $92,639 Savings you need to retire: $1,755,055 Michigan Annual cost of living: $58,176 Savings you need to retire: $893,472 Minnesota Annual cost of living: $57,869 Savings you need to retire: $885,793 Mississippi Annual cost of living: $52,524 Savings you need to retire: $752,178 Missouri Annual cost of living: $54,674 Savings you need to retire: $805,931 Montana Annual cost of living: $67,452 Savings you need to retire: $1,125,377 Nebraska Annual cost of living: $56,272 Savings you need to retire: $845,862 Nevada Annual cost of living: $60,572 Savings you need to retire: $953,368 New Hampshire Annual cost of living: $67,084 Savings you need to retire: $1,116,163 New Jersey Annual cost of living: $70,401 Savings you need to retire: $1,199,096 New Mexico Annual cost of living: $56,825 Savings you need to retire: $859,684 New York Annual cost of living: $77,773 Savings you need to retire: $1,383,392 North Carolina Annual cost of living: $59,835 Savings you need to retire: $934,938 North Dakota Annual cost of living: $56,087 Savings you need to retire: $841,254 Ohio Annual cost of living: $57,009 Savings you need to retire: $864,291 Oklahoma Annual cost of living: $51,849 Savings you need to retire: $735,284 Oregon Annual cost of living: $68,681 Savings you need to retire: $1,156,093 Pennsylvania Annual cost of living: $59,650 Savings you need to retire: $930,331 Rhode Island Annual cost of living: $69,664 Savings you need to retire: $1,180,666 South Carolina Annual cost of living: $56,825 Savings you need to retire: $859,684 South Dakota Annual cost of living: $56,395 Savings you need to retire: $848,933 Tennessee Annual cost of living: $55,473 Savings you need to retire: $825,896 Texas Annual cost of living: $55,780 Savings you need to retire: $833,575 Utah Annual cost of living: $60,879 Savings you need to retire: $961,047 Vermont Annual cost of living: $69,848 Savings you need to retire: $1,185,274 Virginia Annual cost of living: $61,493 Savings you need to retire: $976,405 Washington Annual cost of living: $69,971 Savings you need to retire: $1,188,345 West Virginia Annual cost of living: $54,122 Savings you need to retire: $792,109 Wisconsin Annual cost of living: $60,019 Savings you need to retire: $939,546 Wyoming Annual cost of living: $58,545 Savings you need to retire: $902,686

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