States Where $1M in Savings Won't Last Long for Retirees

Hawaii fares the worst, while West Virginia is best
By John Johnson,  Newser Staff
Posted Feb 9, 2025 12:31 PM CST
States Where $1M in Savings Lasts Longest for Retirees
Retirees in Honolulu might want to have a sizable nest egg. Hawaii finishes last among states in how long $1 million will last in retirement.   (Getty / Jui-Chi Chan)

Is having $1 million in savings enough to retire? A lot depends on where you live, according to an analysis by GoBankingRates. By its reckoning, a stash of that size wouldn't last very long in Hawaii, for example, but it would go a long way in West Virginia. The best and worst states from the study—which assumes people also will have Social Security payments:
The best

  1. West Virginia: 88.70 years (the estimate for how long $1 million plus Social Security would last)
  2. Mississippi: 87.16 years
  3. Arkansas: 76.93 years
  4. Louisiana: 76.54 years
  5. Oklahoma: 71.18 years
  6. Kentucky: 69.17 years
  7. Alabama: 67.23 years
  8. Iowa: 65.97 years
  9. Kansas: 65.29 years
  10. Ohio: 62.12 years

The worst

  1. Rhode Island: 27.09 years
  2. Oregon: 26.78 years
  3. Utah: 26.46 years
  4. New Hampshire: 26.28 years
  5. Colorado: 25.15 years
  6. New Jersey: 24.20 years
  7. Washington state: 21.92 years
  8. Massachusetts: 19.35 years
  9. California: 16.29 years
  10. Hawaii: 12.48 years
Read the full list. (Or check out other lists.)

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