How Long Will $1 Million Last in Retirement? The Surprising State-by-State Difference of 77 Years

For how long does $1 million last during retirement?
differs significantly throughout the U.S.
— extending over 80 years in certain states but expiring within fewer than 20 years in others.

That is according to the findings of a
recent GOBankingRates analysis
, which looked at how far $1 million in retirement savings combined with Social Security benefits would stretch in each state.

The research incorporated fundamental living costs for an individual based on information from the Missouri Economic Research and Information Center, along with retirement expenditure details per state provided by the Bureau of Labor Statistics. These computations encompass the price of food, accommodation, energy services, travel, medical care, and various other outlays; however, they do not factor in tax-related elements.

The research also incorporated home values from Zillow, considering a 10% down payment along with a 6.91% interest rate for mortgages.

In Hawaii, $1 million only provides enough coverage for approximately 12 years of retirement—the lowest duration among all states. This is succeeded by California with around 16 years and Massachusetts with about 19 years, both of which are also recognized for their high cost of living.
experiencing expensive living costs
The primary reason for increased living costs in these states is higher housing prices, though healthcare, utility bills, and food expenses also contribute significantly to the financial strain.

On the opposite end of the scale, $1 million might extend over 80 years in certain low-cost states, lasting approximately 87 years in Mississippi and potentially reaching up to 89 years in West Virginia.

Below is an overview of how long $1 million might last for one individual in every state, as per GOBankingRates, presented here in alphabetical sequence.

Alabama

• 
  Monthly expenses
  
  : $1,794
• 
  Yearly expense following Social Security assistance
  
  : $14,874
• 
  Years $1 million lasts
  
  : 67

Alaska

• 
  Monthly expenses
  
  : $2,601
• 
  Yearly expense following Social Security assistance
  
  : $35,853
• 
  Years $1 million lasts
  
  : 28

Arizona

• 
  Monthly expenses
  
  : $1,890
• 
  Yearly expense following Social Security
  
  : $31,215
• 
  Years $1 million lasts
  
  : 32

Arkansas

• 
  Monthly expenses
  
  : $1,725
• 
  Yearly expense following Social Security benefits
  
  : $13,000
• 
  Years $1 million lasts
  
  : 77

California

• 
  Monthly expenses
  
  : $2,269
• 
  Yearly expense following Social Security benefits
  
  : $61,406
• 
  Years $1 million lasts
  
  : 16

Colorado

• 
  Monthly expenses
  
  : $1,899
• 
  Yearly expense following Social Security benefits
  
  : $39,759
• 
  Years $1 million lasts
  
  : 25

Connecticut

• 
  Monthly expenses
  
  : $2,154
• 
  Yearly expense following Social Security assistance
  
  : $34,113
• 
  Years $1 million lasts
  
  : 29

Delaware

• 
  Monthly expenses
  
  : $1,930
• 
  Yearly expense following Social Security benefits
  
  : $27,919
• 
  Years $1 million lasts
  
  : 36

Florida

• 
  Monthly expenses
  
  : $1,893
• 
  Yearly expense following Social Security assistance
  
  : $29,362
• 
  Years $1 million lasts
  
  : 34

Georgia

• 
  Monthly expenses
  
  : $1,863
• 
  Yearly expense following Social Security assistance
  
  : $23,206
• 
  Years $1 million lasts
  
  : 43

Hawaii

• 
  Monthly expenses
  
  : $2,761
• 
  Yearly expense following Social Security benefits
  
  : $80,125
• 
  Years $1 million lasts
  
  : 12

Idaho

• 
  Monthly expenses
  
  : $1,887
• 
  Yearly expense following Social Security benefits
  
  : $32,289
• 
  Years $1 million lasts
  
  : 31

Illinois

• 
  Monthly expenses
  
  : $1,931
• 
  Yearly expense following Social Security assistance
  
  : $19,937
• 
  Years $1 million lasts
  
  : 50

Indiana

• 
  Monthly expenses
  
  : $1,854
• 
  Yearly expense following Social Security assistance
  
  : $16,826
• 
  Years $1 million lasts
  
  : 59

Iowa

• 
  Monthly expenses
  
  : $1,836
• 
  Yearly expense following Social Security
  
  : $15,158
• 
  Years $1 million lasts
  
  : 66

Kansas

• 
  Monthly expenses
  
  : $1,801
• 
  Yearly expense following Social Security assistance
  
  : $15,315
• 
  Years $1 million lasts
  
  : 65

Kentucky

• 
  Monthly expenses
  
  : $1,864
• 
  Yearly expense following Social Security benefits
  
  : $14,456
• 
  Years $1 million lasts
  
  : 69

Louisiana

• 
  Monthly expenses
  
  : $1,785
• 
  Yearly expense following Social Security assistance
  
  : $13,065
• 
  Years $1 million lasts
  
  : 77

Maine

• 
  Monthly expenses
  
  : $2,070
• 
  Yearly expense following Social Security benefits
  
  : $30,194
• 
  Years $1 million lasts
  
  : 33

Maryland

• 
  Monthly expenses
  
  : $1,931
• 
  Yearly expense following Social Security
  
  : $31,301
• 
  Years $1 million lasts
  
  : 32

Massachusetts

• 
  Monthly expenses
  
  : $2,340
• 
  Yearly expense following Social Security benefits
  
  : $51,686
• 
  Years $1 million lasts
  
  : 19

Michigan

• 
  Monthly expenses
  
  : $1,835
• 
  Yearly expense following Social Security
  
  : $16,561
• 
  Years $1 million lasts
  
  : 60

Minnesota

• 
  Monthly expenses
  
  : $1,936
• 
  Yearly expense following Social Security assistance
  
  : $24,654
• 
  Years $1 million lasts
  
  : 41

Mississippi

• 
  Monthly expenses
  
  : $1,784
• 
  Yearly expense following Social Security benefits
  
  : $11,473
• 
  Years $1 million lasts
  
  : 87

Missouri

• 
  Monthly expenses
  
  : $1,780
• 
  Yearly expense following Social Security benefits
  
  : $16,403
• 
  Years $1 million lasts
  
  : 61

Montana

• 
  Monthly expenses
  
  : $1,825
• 
  Yearly expense following Social Security assistance
  
  : $31,651
• 
  Years $1 million lasts
  
  : 32

Nebraska

• 
  Monthly expenses
  
  : $1,857
• 
  Yearly expense following Social Security
  
  : $18,172
• 
  Years $1 million lasts
  
  : 55

Nevada

• 
  Monthly expenses
  
  : $1,855
• 
  Yearly expense following Social Security
  
  : $32,332
• 
  Years $1 million lasts
  
  : 31

New Hampshire

• 
  Monthly expenses
  
  : $2,081
• 
  Yearly expense following Social Security assistance
  
  : $38,052
• 
  Years $1 million lasts
  
  : 26

New Jersey

• 
  Monthly expenses
  
  : $2,001
• 
  Yearly expense following Social Security assistance
  
  : $41,315
• 
  Years $1 million lasts
  
  : 24

New Mexico

• 
  Monthly expenses
  
  : $1,829
• 
  Yearly expense following Social Security assistance
  
  : $20,976
• 
  Years $1 million lasts
  
  : 48

New York

• 
  Monthly expenses
  
  : $2,028
• 
  Yearly expense following Social Security
  
  : $34,570
• 
  Years $1 million lasts
  
  : 29

North Carolina

• 
  Monthly expenses
  
  : $1,883
• 
  Yearly expense following Social Security benefits
  
  : $23,429
• 
  Years $1 million lasts
  
  : 43

North Dakota

• 
  Monthly expenses
  
  : $1,862
• 
  Yearly expense following Social Security benefits
  
  : $19,006
• 
  Years $1 million lasts
  
  : 53

Ohio

• 
  Monthly expenses
  
  : $1,853
• 
  Yearly expense following Social Security benefits
  
  : $16,099
• 
  Years $1 million lasts
  
  : 62

Oklahoma

• 
  Monthly expenses
  
  : $1,832
• 
  Yearly expense following Social Security
  
  : $14,048
• 
  Years $1 million lasts
  
  : 71

Oregon

• 
  Monthly expenses
  
  : $2,017
• 
  Yearly expense following Social Security
  
  : $37,346
• 
  Years $1 million lasts
  
  : 27

Pennsylvania

• 
  Monthly expenses
  
  : $1,878
• 
  Yearly expense following Social Security assistance
  
  : $18,974
• 
  Years $1 million lasts
  
  : 53

Rhode Island

• 
  Monthly expenses
  
  : $2,113
• 
  Yearly expense following Social Security
  
  : $36,920
• 
  Years $1 million lasts
  
  : 27

South Carolina

• 
  Monthly expenses
  
  : $1,838
• 
  Yearly expense following Social Security benefits
  
  : $20,595
• 
  Years $1 million lasts
  
  : 49

South Dakota

• 
  Monthly expenses
  
  : $1,834
• 
  Yearly expense following Social Security benefits
  
  : $21,074
• 
  Years $1 million lasts
  
  : 47

Tennessee

• 
  Monthly expenses
  
  : $1,713
• 
  Yearly expense following Social Security assistance
  
  : $20,466
• 
  Years $1 million lasts
  
  : 49

Texas

• 
  Monthly expenses
  
  : $1,851
• 
  Yearly expense following Social Security benefits
  
  : $21,155
• 
  Years $1 million lasts
  
  : 47

Utah

• 
  Monthly expenses
  
  : $1,893
• 
  Yearly expense following Social Security benefits
  
  : $37,797
• 
  Years $1 million lasts
  
  : 26

Vermont

• 
  Monthly expenses
  
  : $2,050
• 
  Yearly expense following Social Security benefits
  
  : $30,022
• 
  Years $1 million lasts
  
  : 33

Virginia

• 
  Monthly expenses
  
  : $1,927
• 
  Yearly expense following Social Security benefits
  
  : $28,916
• 
  Years $1 million lasts
  
  : 35

Washington

• 
  Monthly expenses
  
  : $2,096
• 
  Yearly expense following Social Security assistance
  
  : $45,629
• 
  Years $1 million lasts
  
  : 22

West Virginia

• 
  Monthly expenses
  
  : $1,833
• 
  Yearly expense following Social Security
  
  : $11,263
• 
  Years $1 million lasts
  
  : 89

Wisconsin

• 
  Monthly expenses
  
  : $1,895
• 
  Yearly expense following Social Security assistance
  
  : $22,148
• 
  Years $1 million lasts
  
  : 45

Wyoming

• 
  Monthly expenses
  
  : $1,864
• 
  Yearly expense following Social Security benefits
  
  : $24,836
• 
  Years $1 million lasts
  
  : 40

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