## Where Can $1 Million in Retirement Savings Plus Social Security Take You? A State-by-State Cost Analysis

Planning to **retire on 1 million dollars**? Your purchasing power depends entirely on geography. A recent comprehensive analysis examined how long $1 million in retirement savings combined with Social Security benefits would sustain retirees across all 50 states, revealing dramatic disparities in cost of living that can either extend or compress your retirement timeline by decades.

## The Geographic Divide: Where Your Million Goes Furthest and Fastest

The data paints a stark picture. In the most expensive coastal regions, a million-dollar nest egg evaporates quickly. Hawaii residents would see their savings depleted in just 12.48 years, followed by California at 16.29 years and Massachusetts at 19.35 years. Meanwhile, retirees in the most affordable states enjoy dramatically different outcomes: West Virginia stretches that same million to 88.79 years, Mississippi to 87.16 years, and Arkansas to 76.93 years. Oklahoma completes the top five with 71.18 years.

The core finding: **36 states** offer sufficient cost structures where $1 million plus Social Security provides a comfortable 30-year retirement or longer.

## High-Cost Retirement Zones: When $1 Million Isn't Enough

For those considering expensive states, the numbers demand attention:

- **Hawaii**: Monthly expenditures average $2,761, requiring $80,125 annually after Social Security
- **California**: $2,269 monthly ($61,406 annually after benefits)
- **Massachusetts**: $2,340 monthly ($51,686 annually)
- **Washington**: $2,096 monthly ($45,629 annually)
- **New Jersey**: $2,001 monthly ($41,315 annually)

In these markets, you'd be consuming roughly 25-35% of your million-dollar savings annually just to cover basic living expenses.

## Mid-Range States: The 20-30 Year Sweet Spot

Several states provide moderate sustainability for your retirement funds:

- **Colorado**: $39,759 annual cost, 25.15 years of sustainability
- **New Hampshire**: $38,052 annual cost, 26.28 years
- **Utah**: $37,797 annual cost, 26.46 years
- **Oregon**: $37,346 annual cost, 26.78 years
- **Rhode Island**: $36,920 annual cost, 27.09 years
- **Alaska**: $35,853 annual cost, 27.89 years
- **New York**: $34,570 annual cost, 28.93 years
- **Connecticut**: $34,113 annual cost, 29.31 years

## Extended Runway States: 30+ Years of Retirement Security

A larger cohort of states stretches your million meaningfully:

Nevada, Idaho, Montana, Maryland, and Arizona all keep you sustainable for 30-32 years. Moving further down the affordability scale—Maine, Vermont, Florida, Virginia, and Delaware—push you toward the 33-36 year mark.

The transition really accelerates in the Great Plains and South: Wyoming reaches 40.26 years, Minnesota 40.56 years, and North Carolina 42.68 years.

## Ultra-Affordable States: Breaking 50 Years of Retirement Savings

This is where geographic arbitrage truly maximizes your **retire on 1 million dollars** goal:

- **Georgia**: 43.09 years
- **Wisconsin**: 45.15 years
- **Texas**: 47.27 years
- **South Dakota**: 47.45 years
- **New Mexico**: 47.67 years
- **South Carolina**: 48.55 years
- **Tennessee**: 48.86 years
- **Illinois**: 50.16 years
- **North Dakota**: 52.61 years
- **Pennsylvania**: 52.70 years
- **Nebraska**: 55.03 years
- **Indiana**: 59.43 years
- **Michigan**: 60.38 years
- **Missouri**: 60.96 years
- **Ohio**: 62.12 years
- **Kansas**: 65.29 years
- **Iowa**: 65.97 years
- **Alabama**: 67.23 years
- **Kentucky**: 69.17 years

## The Bottom Five: Maximum Runway for Your Million

The most affordable states create genuinely extended retirement horizons:

1. **Oklahoma**: $14,048 annual cost, 71.18 years
2. **Louisiana**: $13,065 annual cost, 76.54 years
3. **Arkansas**: $13,000 annual cost, 76.93 years
4. **Mississippi**: $11,473 annual cost, 87.16 years
5. **West Virginia**: $11,263 annual cost, 88.79 years

In these five states, monthly expenditures after Social Security fall below $1,200—less than half the cost of living in Hawaii or California.

## Key Takeaway: Location Determines Retirement Viability

Whether you can comfortably **retire on 1 million dollars** isn't just about the size of your nest egg—it's fundamentally about where you choose to retire. The same savings that sustains 12 years in Hawaii could fund nearly nine decades in West Virginia.

For anyone approaching retirement, this geographic analysis suggests that relocation strategy deserves equal consideration with savings accumulation. Moving to a lower-cost-of-living state could be the difference between a constrained 15-year retirement and a genuinely comfortable 70-year one—making location selection one of the most leveraged decisions in retirement planning.

_Data sourced from U.S. Census American Community Survey, Missouri's Economic and Research Information Center, Bureau of Labor Statistics Consumer Expenditure Survey, Zillow Home Value Index, Federal Reserve Economic Data, and Social Security Administration Monthly Statistical Snapshot (January 2025)._