Looking to retire? Or wondering how much money you’ll need in your nest egg to retire comfortably, while living in the tri-state area?

A new study shows that the average American will need $1.25 million in savings to retire. To make matters worse, the number has risen 20% in the past year, according to 24/7 Wall Street.

If you’re looking to boost your retirement fund, a plan like a 401(k) is one of the best ways to save. Click here to learn more about starting a 401 (k).

Here is what it will cost you to retire comfortably in Connecticut, New Jersey and New York, according to 24/7 Wall Street:

Estimated total retirement spending: $1,148,930
Average cost of living: 3.4% more than average
Typical monthly housing costs, 65 and older pop.: $1,880 w/ mortgage; $898 w/o mortgage
Average life expectancy at age 65: age 85.3
Population 65 and older: 17.6%

Estimated total retirement spending: $1,210,393
Average cost of living: 11.2% more than average
Typical monthly housing costs, 65 and older population: $2,074 w/ mortgage; $1,017 w/o mortgage
Average life expectancy at age 65: age 84.9
Population 65 and older: 16.6%

Estimated total retirement spending: $1,218,129
Average cost of living: 10.2% more than average
Typical monthly housing costs, 65 and older population: $1,911 w/ mortgage; $766 w/o mortgage
Average life expectancy at age 65: age 85.2
Population 65 and older: 16.9%