Million dollar retirement: See where it lasts longest, and where it vanishes fast

Retirement. It’s the golden dream, right? But how much do you *really* need to make that dream a reality? A recent study says the magic number is $1. 46 million. Yikes!

That’s a big jump from the $951,000 folks thought they needed back in 2019. And the average American? They’ve saved around $88,400. Talk about a gap!

What does this mean for your future? Where will your hard-earned savings actually *last*?

The Million-Dollar Question: Where Does it Go Furthest?

GoBankingRates did some digging. They looked at how far $1 million in retirement savings will stretch in each state. They even factored in Social Security.

Think about it. Groceries, rent, gas. .. it all adds up differently depending on where you live.

Quick Reality Check: What’s Included?

This study looked at the cost of living basics:

• Housing
• Food
• Transportation
• Utilities

Good to know, right?

Where Your Retirement Savings Disappear Fastest

Hawaii. Paradise, yes. Cheap? Nope! A million bucks plus Social Security might only last you about 12 years there. Why? Sky-high housing costs, mainly.

California and Massachusetts aren’t much better. Expect your money to vanish in under 20 years. Ouch!

Blame it on those hefty monthly expenses. Think $2,200+ just to live!

The Good News: States Where Your Money Goes the Distance

Don’t panic! There’s hope. Imagine your retirement savings lasting for *decades*. It’s possible!

In states like Oklahoma, Louisiana, Arkansas, Mississippi, and West Virginia, $1 million could last over 70 years. Yes, you read that right!

The secret? A low cost of living. Monthly expenses can be under $1,200. Now *that’s* retirement bliss.

West Virginia: The Champion of Cheap Living?

West Virginia’s cost of living is way below the national average. Housing is especially affordable. Think about it. .. more money for travel, hobbies, and spoiling the grandkids!

The Bottom Line: It’s All About Location

Where you choose to spend your golden years makes a HUGE difference. Do your homework. Plan smart. And maybe, just maybe, that million-dollar dream can become a reality that lasts.

The Quick Breakdown: Where Your Money Runs Out Fast

Here’s a quick look at the states where a million dollars doesn’t go as far:

1. Hawaii
2. California
3. Massachusetts
4. Washington
5. New Jersey
6. Colorado
7. New Hampshire
8. Utah
9. Oregon
10. Rhode Island

And Where It Lasts the Longest:

Ready for some good news? Here are the states where your retirement savings can really stretch:

1. West Virginia
2. Mississippi
3. Arkansas
4. Louisiana
5. Oklahoma
6. Kentucky
7. Alabama
8. Iowa
9. Kansas
10. Ohio

Are you ready to pack your bags?