This is how much money you need to retire by 40 in Texas, report finds

by the numbers

Here's how big your nest egg needs to be in Texas if you want an early retirement. Photo via Pexels

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

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.

According to the study's findings, the total cost of living expenses for the average Texan adds up to $3,362.63 per month, or $40,351.50 a year.

Based on those numbers, GoBakingRates calculated that a Texas resident retiring by age 40 would need a jaw-dropping $1,278,894.70 saved up if they were to live until they were 80 years old.

If a 40-year-old Texan lived to be 90, that nest egg would have to be $1,458,966.13, and if they lived to be 100, they'd need $1,639,037.55 in their savings for those remaining 60 years.

Texas came in at No. 20 on the list. Texans can breathe a (small) sigh of relief they aren't retiring in Hawaii, which came in at No. 1 on the list, with the highest amount of savings needed to retire early. The annual cost of living in Hawaii is nearly $107,000, which means a 40-year-old Hawaiian would need more than $3.94 million to retire early and enjoy 40 years of retirement.

California came in second, followed by Washington DC, Massachusetts, and Washington state.

The states with the least amount of savings required to retire by 40 are:

  • No. 1 – West Virginia
  • No. 2 – Mississippi
  • No. 3 – Oklahoma
  • No. 4 – Arkansas
  • No. 5 – Kentucky
  • No. 6 – Louisiana
  • No. 7 – Alabama
  • No. 8 – Kansas
  • No. 9 – Iowa
  • No. 10 – Michigan

GOBankingRates sourced cost of living data and national average expenditure data for retired residents from the Missouri Economic and Research Information Center, the Bureau of Labor Statistics Consumer Expenditure for Retired Residents, and Zillow’s Home Value Index. These three data points were combined to determine the average annual cost of living for retired residents, and used the typical retirement age of 65 to factor in the full Social Security benefits, thus calculating the average income to be expected in retirement.

The report echoes national ongoing financial strife in regards to inflation and cost of living increases, where not even Houston is immune.

The full report can be found on gobankingrates.com.

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This article originally ran on CultureMap.

Monthly bills, subscriptions, and taxes, oh my. Photo by rc.xyz NFT gallery on Unsplash

Houstonians hit with among the highest inflation rate in the U.S., study says

budgeting woes

Inflation has certainly rattled the national economy, but some cities are feeling that sting harder than others — especially Houston.

According to new study by personal finance experts WalletHub, Houston-The Woodlands-Sugar Land has been saddled with the No. 7 highest inflation rate in the U.S.

The report compared 23 of America’s largest metropolitan statistical areas (MSAs) with Consumer Price Index data to measure inflation trends in two timetables:

  • the most previous month (November)
  • the most recent year

In the most previous month, Houston saw a very slight improvement in inflation when compared to the two prior months, with the city's inflation rate falling by .10 percent. To put that in context, Dallas-Fort Worth experienced the biggest climb in the U.S. with an increase of .90 percent when compared to the two prior months.

In the most recent year, inflation in Houston increased by 4.5 percent year-over-year from November 2022. On that list, Houston tied with Detroit-Warren-Dearborn (No. 5 overall), Michigan and Denver-Aurora-Lakewood, Colorado (No. 9 overall).

Houston's inflation woes are still an improvement when compared to an April 2023 WalletHub report, which maintained Houston was still experiencing the 7th highest inflation rate in the U.S., but at 5.2 percent year over-year.

Daniel C. O'Neill, a professor of political science and chair of the School of International Studies at University of the Pacific, cited previous government policies, post-COVID-19 pandemic recovery, and employee demands for higher pay as the major factors behind rising inflation.

As consumer demand rose with the introduction of stimulus checks and unemployment benefits during the pandemic, O'Neill explained, businesses post-pandemic had to raise their pay to attract workers.

"In addition, anecdotally it seems that many businesses hit especially hard by the pandemic, such as movie theaters and restaurants, raised prices when people returned to make up for some of those losses during the pandemic," he said. "While rising wages are a good thing, if they do not keep up with increases in the price of rent, food, gas, and other necessities, they are not real increases and wages."

Houston-The Woodlands-Sugar Land wasn’t the only Texas metro area to make WalletHub’s top 10. Dallas-Fort-Worth-Arlington ranked No. 1, with inflation rising 5.2 percent year-over-year from November 2022.

The top 10 metro areas where inflation is rising the most are:

  • No. 1 – Dallas-Fort Worth-Arlington, Texas
  • No. 2 – Miami-Fort Lauderdale-West Palm Beach, Florida
  • No. 3 – Urban Honolulu, Hawaii
  • No. 4 – San Diego-Carlsbad, California
  • No. 5 – Detroit-Warren-Dearborn, Michigan
  • No. 6 – Tampa-St. Petersburg-Clearwater, Florida
  • No. 7 – Houston-The Woodlands-Sugar Land, Texas
  • No. 8 – Riverside-San Bernardino-Ontario, California
  • No. 9 – Denver-Aurora-Lakewood, Colorado
  • No. 10 – Philadelphia-Camden-Wilmington, Pennsylvania-New Jersey-Delaware-Maryland

The full report can be found on wallethub.com.

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This article originally ran on CultureMap.

When employers recognize the interconnectedness of employee wellbeing and business success, they lay the foundation for a sustainable future for their organization. Photo via Getty Images

Inflation: Why Houston employers should prioritize employee financial well-being

guest column

Inflation impacts everyone, including individuals, the workforce and business leaders. As the cost of living continues to rise, employees face diminishing purchasing power, shrinking retirement savings and higher stress levels.

In PwC’s 2023 Employee Financial Wellness Survey, 57 percent of respondents named finances as the top cause of stress in their lives. With these factors in play, employers should consider the support they provide for employees’ financial health, which directly impacts them emotionally and physically. When any one of these elements are out of alignment, employee productivity and engagement suffer, in turn impacting business success.

The Inflation Conundrum

Inflation is the silent financial predator that affects every aspect of life. Coupled with the financial responsibilities of the workforce, like child or elder care and college tuition, inflation erodes the value of money over time. As prices surge and the purchasing power of the dollar declines, the effects can ripple through a person’s life, including the workplace. Here are several ways inflation can impact employees:

  • Diminished Salary Satisfaction: Inflation does not discriminate. When prices rise, compensation does not follow suit at a one-to-one ratio. This can lead employees to feel their salaries are no longer sufficient to maintain their desired standard of living. Employees who do not have enough for their daily needs are not saving for their future goals, which exacerbates salary dissatisfaction.
  • Eroding Retirement Savings: A 401(k) is a critical component for many employees’ long-term financial strategy. However, inflation can interfere as the cost of living finds employees allocating less to their retirement accounts. Fewer contributions can have a significant long-term impact on the workforce’s financial goals.
  • Increased Stress and Anxiety: Financial insecurity and the higher cost of living can impact mental health. The stress and anxiety common with financial challenges often makes its way into the workplace, resulting in decreased productivity and engagement, interpersonal tension and employees seeking additional or alternative employment opportunities.

The PwC survey underlines how financial stress impacts employees beyond their pocketbooks with 50% or more reporting a negative impact on sleep, mental health and self-esteem. While physical health and relationships at home are not far behind at 44 percent and 40 percent, respectively.

The Holistic Approach to Employee Well-being

In times of economic uncertainty, it becomes vital for employers to prioritize their employees' well-being. A holistic approach, proactively addressing emotional, physical and financial health, can mitigate the negative impacts of inflation and foster a more engaged workforce. A few strategies to consider include:

  • Employee Assistance Programs (EAPs): Employee Assistance Programs are a valuable resource for employees facing personal or financial challenges. These programs provide access to counseling services, financial advice and other forms of support. Offering EAPs demonstrates an employer’s commitment to the overall well-being of their workforce.
  • Greater 401(k) Contributions: Employers can consider increasing the company’s 401(k) contributions in recognition of the strain inflation places on employees' retirement savings. A higher match encourages employees to save more and helps offset the erosion of their retirement savings due to inflation. It is important to note, this is not a short-term solution. Once implemented, it is difficult to walk back these changes without negatively impacting employee morale.
  • Open Communication: Open and transparent communication with employees is always key but is especially paramount to understanding their concerns and needs during periods of inflation. Regular surveys or meetings to gauge employees' financial stress levels and field suggestions for improvement can provide valuable insights.
  • Financial Incentives: Though it is not an immediate fix to immediate financial needs, incentivizing employees to save and invest can be a win-win strategy. Employers can offer financial literacy programs, workshops, or provide bonuses or incentives tied to employees' financial goals. These resources, trainings and initiatives can empower employees to make better informed financial decisions.

The Consequences

Business leaders should realize inflation impacts more than balance sheets, sending shockwaves deep into the health, morale and productivity of their workforce. And when employees are suffering with their mental, physical or financial health, they are more prone to look for employment where these needs are met.

Employers are at a crossroads where they can create a workplace culture that not only supports employees during times of inflation but also fosters resilience and loyalty. EAPs, increased 401(k) contributions, open communication, and financial incentives are just a few of the strategies that employers can implement to ease the burden of inflation on their workforce.

When employers recognize the interconnectedness of employee wellbeing and business success, they lay the foundation for a sustainable future for their organization. Employees can weather the storm and eventually thrive when armed with the proper support and tools.


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Kelly Yeates is vice president of service operations with Insperity, a leading provider of human resources and business performance solutions.

Looking at bills can be stressful these days. Photo via Getty Images

Houston area hit with 7th highest inflation rate in U.S., new report says

wealth woes

As if living comfortably in Houston wasn’t already hard enough to afford in 2023, now a new report says inflation is rising more quickly in the city than in other parts of the United States. Unfortunately for Houston, the news seems to be a little worse than it was last year.

Financial experts at WalletHub compared 22 of America’s largest metropolitan statistical areas (MSAs) with Consumer Price Index data to measure inflation trends in two categories: last March and year-over-year changes.

"Though inflation has started to slow slightly due to factors like the Federal Reserve rate hikes, the year-over-year inflation rate was still a whopping 5 percent (nationally) in March," WalletHub says. "This high inflation is driven by a variety of factors, including the continued presence of the COVID-19 pandemic, the war in Ukraine and labor shortages."

Houston-The Woodlands-Sugar Land ranked No. 7 in WalletHub's new list of cities where inflation is rising the most. The Consumer Price Index change in March when compared to two months prior showed a 1.9 percent increase, while inflation increased 5.2 percent last month, since March 2022.

The current inflation woes continue with the knowledge that the region seems to be faring slightly worse than it was last year. The latest ranking is a three-place jump from WalletHub’s last report, when Houston was saddled with the 10th highest inflation rate in the U.S., at 9.5 percent, year-over-year.

Roosevelt University Associate Professor of Finance and Real Estate Dr. Henry I. Silverman says in the report that rising interest rates are the traditional tool that banks use to fight inflation, but aren’t necessarily cost effective for consumers.

“Unfortunately, not only do higher rates make it more expensive for consumers to borrow money and thus afford many of the things we would otherwise purchase, but they also make it more costly for firms to expand and produce more goods and services which might otherwise help lower inflation,” he says.

Houston wasn’t the only Texas metro area to make WalletHub’s top 10. Dallas-Fort Worth-Arlington ranked three places lower at No. 10, with inflation rising 1.3 percent in March from January, but nearly six percent greater year-over-year. Last year’s report put Dallas-Fort Worth at No. 5, with year-over-year inflation for August 2022 at 9.4 percent.

Silverman warns that inflation and true economic growth are “not negatively correlated,” but many economists are predicting a recession this year.

“[H]igher inflation tends to be associated with lower real economic growth in the future,” Silverman says. “Undoubtedly, this is in part due to the higher interest rates that often follow higher inflation rates which inevitably slow economic activity, consumption, investment, etc[etera].”

The top 10 metro areas where inflation is rising the most are:

  • No. 1 – Philadelphia-Camden-Wilmington
  • No. 2 – Detroit-Warren-Dearborn
  • No. 3 – Phoenix-Mesa-Scottsdale
  • No. 4 – Seattle-Tacoma-Bellevue
  • No. 5 – Atlanta-Sandy Springs-Roswell
  • No. 6 – Tampa-St. Petersburg-Clearwater
  • No. 7 – Houston-The Woodlands-Sugar Land
  • No. 8 – San Francisco-Oakland-Hayward
  • No. 9 – Baltimore-Columbia-Towson
  • No. 10 – Dallas-Fort Worth-Arlington

The full report can be found on wallethub.com.

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This article originally ran on CultureMap.

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11 Houston companies named best places to work by U.S. News

Best in the U.S.

Nearly a dozen public and private Houston-based companies have been hailed among the best places to work in 2025 by U.S. News and World Report.

The annual "U.S. News Best Companies to Work For" report examines thousands of publicly-traded companies around the world to determine the best employers based on six metrics including work-life balance and flexibility; quality of pay and benefits; job and company stability; career opportunities and professional development; and more. The companies were not ranked, but included based on reader surveys and publicly available data about each workplace.

New for the 2025-2026 ratings,U.S. News expanded its methodology to include privately owned companies and companies with internship opportunities for recent graduates and new, current, and prospective students. Companies were also grouped into job-specific and industry-specific lists, and the publication also added a new list highlighting "employers that are particularly friendly to employees who are also caregivers in their personal lives."

U.S. News included seven publicly-traded companies and four privately owned companies in Houston on the lists.

Chevron

It may not come as a surprise that oil and gas corporation Chevron landed at the top of the list of top public employers in the Energy Capital of the World. The energy giant currently employs more than 45,000 people, earns $193.47 billion in annual revenue, and has a market cap of $238.74 billion. The company earned high ratings by U.S. News for its job stability, "belongingness," and quality of pay.

Chevron also appeared in U.S. News'industry-specific "Best in Energy and Resources" list, the "Best Companies in the South" list, and the "Best for Internships" list.

American Bureau of Shipping (ABS)

In the category of privately held companies headquartered in Houston, American Bureau of Shipping (ABS) landed on top as one of the best employers thanks to its employee work-life balance, job stability, and quality of pay. U.S. News estimates ABS has between 5,000 and 10,000 employees, and generated between $1 billion to $10 billion in revenue in 2024.

This engineering and construction company was founded in 1862, and describes itself as "a global leader in providing classification services for marine and offshore assets."

"Our mission is to serve the public interest as well as the needs of our members and clients by promoting the security of life and property and preserving the natural environment," the company website says.

In addition to earning a place among U.S. News' overall "Best Companies" list, ABS also appeared in the "Best in Engineering and Construction" list.

Other top companies to work for in Houston include:

  • Calpine – Best in Energy and Resources; Best Companies (overall)
  • ConocoPhillips – Best in Energy and Resources; Best Companies (overall); Best in Caregiving; Best Companies in the South
  • Hines – Best in Real Estate and Facilities Management; Best Companies (overall)
  • Insperity, Kingwood – Best in Healthcare and Research; Best Companies (overall); Best in Caregiving; Best Companies in the South
  • KBR – Best in Engineering and Construction; Best Companies (overall); Best Companies in the South
  • Men's Warehouse – Best in Consumer Products; Best Companies (overall)
  • Occidental – Best in Energy and Resources; Best Companies (overall); Best Companies in the South
  • PROS – Best in Information Technology; Best Companies (overall); Best Companies in the South
  • Skyward Specialty Insurance – Best in Finance and Insurance; Best Companies (overall); Best Companies in the South
"'Best' is a subjective term relative to career satisfaction, and many aspects factor into someone’s decision to apply for a job with any given company," U.S. News said. "But some universally desired factors can contribute to a good workplace, such as quality pay, good work-life balance, and opportunities for professional development and advancement.

Other top Texas employers

In all, 30 employers headquartered in the Lone Star State made it onto U.S. News' 2025-2026 "Best Places to Work For" lists. Houston and the Dallas-Fort Worth metro area tied for the most employers make the list, at 11 companies each. Diamondback Energy in Midland was the only company from West Texas to make it on the list for the second year in a row.

The best places to work for across Dallas-Fort Worth:

  • Aimbridge Hospitality, Plano
  • Ben E. Keith, Fort Worth
  • Coach America, Grand Prairie
  • Digital Realty, Dallas
  • Freeman, Dallas
  • Integrity Marketing Group, Dallas
  • Lincoln Property Company, Dallas
  • RGP, Dallas
  • Sammons Enterprises, Dallas
  • Texas Instruments, Dallas
  • Veritex Community Bank, Dallas

The top companies to work for in Austin:

  • Cirrus Logic
  • Dell Technologies, Round Rock
  • Silicon Labs
  • Yeti

The top companies to work for in San Antonio:

  • Frost Bank
  • H-E-B
  • Sachry Group
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This article originally appeared on CultureMap.com.

Texas Space Commission doles out $5.8 million to Houston companies

On A Mission

Two Houston-area companies have landed more than $5.8 million in funding from the Texas Space Commission.

The commission granted up to $5.5 million to Houston-based Axiom Space and up to $347,196 to Conroe-based FluxWorks.

The two-year-old commission previously awarded $95.3 million to 14 projects. A little over $34 million remains in the commission-managed Space Exploration and Aeronautics Research Fund.

Axiom Space, a commercial spaceflight company, said the new funding will go toward the development of its orbital data center capabilities. By the end of this year, Axiom plans to launch two free-flying nodes in low-Earth orbit to support its orbital data center operations. More nodes are set to go online in the coming years.

“Axiom Space is actively evaluating how our [orbital data center] architecture can enhance critical U.S. capabilities, including the proposed Golden Dome missile defense architecture,” Jason Aspiotis, global director of in-space data and security at Axiom, said in a news release. “In this context, real-time, around-the-clock availability, secure orbital processing, and AI-driven autonomy are vital for ensuring mission success.”

Founded in 2021, FluxWorks provides magnetic gear technology that was developed at Texas A&M University.

In 2024, FluxWorks was one of two startups to receive the Technology in Space Prize, funded by Boeing and the Center for the Advancement of Science in Space (CASIS), which manages the International Space Station National Laboratory.

FluxWorks is testing the performance of magnetic gear in microgravity environments, such as the International Space Station.

“Gearboxes aim to reduce the mass of motors required in a variety of applications; however, the lubricant needed to make them work properly is not designed for use in extreme environments like space,” according to a 2024 news release about the Technology in Space Prize. “Magnetic gears do not require lubricant, making them an appealing alternative.”

The Texas Space Commission granted $25 million to Houston aerospace companies Starlab Space and Intuitive Machines earlier this year. Read more here.

3 Houston startups named most innovative in Texas by LexisNexis

report card

Three Houston companies claimed spots on LexisNexis's 10 Most Innovative Startups in Texas report, with two working in the geothermal energy space.

Sage Geosystems claimed the No. 3 spot on the list, and Fervo Energy followed closely behind at No. 5. Fintech unicorn HighRadius rounded out the list of Houston companies at No. 8.

LexisNexis Intellectual Property Solutions compiled the report. It was based on each company's Patent Asset Index, a proprietary metric from LexisNexis that identifies the strength and value of each company’s patent assets based on factors such as patent quality, geographic scope and size of the portfolio.

Houston tied with Austin, each with three companies represented on the list. Caris Life Sciences, a biotechnology company based in Dallas, claimed the top spot with a Patent Asset Index more than 5 times that of its next competitor, Apptronik, an Austin-based AI-powered humanoid robotics company.

“Texas has always been fertile ground for bold entrepreneurs, and these innovative startups carry that tradition forward with strong businesses based on outstanding patent assets,” Marco Richter, senior director of IP analytics and strategy for LexisNexis Intellectual Property Solutions, said in a release. “These companies have proven their innovation by creating the most valuable patent portfolios in a state that’s known for game-changing inventions and cutting-edge technologies.We are pleased to recognize Texas’ most innovative startups for turning their ideas into patented innovations and look forward to watching them scale, disrupt, and thrive on the foundation they’ve laid today.”

This year's list reflects a range in location and industry. Here's the full list of LexisNexis' 10 Most Innovative Startups in Texas, ranked by patent portfolios.

  1. Caris (Dallas)
  2. Apptronik (Austin)
  3. Sage Geosystems (Houston)
  4. HiddenLayer (Austin)
  5. Fervo Energy (Houston)
  6. Plus One Robotics (San Antonio)
  7. Diligent Robotics (Austin)
  8. HighRadius (Houston)
  9. LTK (Dallas)
  10. Eagle Eye Networks (Austin)

Sage Geosystems has partnered on major geothermal projects with the United States Department of Defense's Defense Innovation Unit, the U.S. Air Force and Meta Platforms. Sage's 3-megawatt commercial EarthStore geothermal energy storage facility in Christine, Texas, was expected to be completed by the end of last year.

Fervo Energy fully contracted its flagship 500 MW geothermal development, Cape Station, this spring. Cape Station is currently one of the world’s largest enhanced geothermal systems (EGS) developments, and the station will begin to deliver electricity to the grid in 2026. The company was recently named North American Company of the Year by research and consulting firm Cleantech Group and came in at No. 6 on Time magazine and Statista’s list of America’s Top GreenTech Companies of 2025. It's now considered a unicorn, meaning its valuation as a private company has surpassed $1 billion.

Meanwhile, HighRadius announced earlier this year that it plans to release a fully autonomous finance platform for the "office of the CFO" by 2027. The company reached unicorn status in 2020.

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This article originally appeared on Energy Capital HTX.

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