How Long $1.2 Million Will Last in Retirement in Every State
Anyone retiring with more than a million bucks in their bank accounts should be all set, right? Well, although that's a sizable nest egg, how far that money stretches depends largely on where you live. Rising costs for housing, healthcare, groceries and utilities have made the cost of retirement dramatically different from one state to the next.
Here, MoneyLion examines just how long $1.2 million will last in retirement in every state, taking into account average expenses, inflation-adjusted living costs and the everyday spending needs you’ll face in your golden years. Whether you're planning to retire soon, considering a move to a more affordable location or simply wondering if your savings are on track, understanding how state-by-state costs affect your financial future is a big part of retirement planning.
Good To Know: Why Claiming Social Security at 70 Can Be a Retirement Planning Mistake
Learn How: 5 Clever Ways Retirees Are Earning Up to $1K Per Month From Home
Key Findings
If you’re wondering where your money disappears the fastest and which states offer the best value for your retirement income, we found some key takeaways:
For the national average, a $1.2 million retirement savings will last you 32.39 years with Social Security and 19.53 years without those benefit checks.
In Hawaii and Alaska, the average annual grocery bill comes in at over $6,600.
Only six states -- Mississippi, Alabama, Arkansas, Michigan, Tennessee and West Virginia -- have estimated healthcare costs of less than $7,000 a year.
The results could reshape how you think about where you retire, as well as how much you’ll need to save to do so. Here’s how much $1.2 million will last you in every state, ranked by longevity.
1. Oklahoma
How many years $1.2 million will last with Social Security: 44.59 years
How many years $1.2 million will last without Social Security: 23.39 years
Average annual expenditures: $51,295.72
Annual expenditure cost after Social Security: $26,914.84
2. Alabama
How many years $1.2 million will last with Social Security: 43.11 years
How many years $1.2 million will last without Social Security: 22.98 years
Average annual expenditures: $52,217.20
Annual expenditure cost after Social Security: $27,836.32
3. Mississippi
How many years $1.2 million will last with Social Security: 42.00 years
How many years $1.2 million will last without Social Security: 22.66 years
Average annual expenditures: $52,954.38
Annual expenditure cost after Social Security: $28,573.50
4. Kansas
How many years $1.2 million will last with Social Security: 40.77 years
How many years $1.2 million will last without Social Security: 22.30 years
Average annual expenditures: $53,814.43
Annual expenditure cost after Social Security: $29,433.55
5. West Virginia
How many years $1.2 million will last with Social Security: 40.52 years
How many years $1.2 million will last without Social Security: 22.22 years
Average annual expenditures: $53,998.73
Annual expenditure cost after Social Security: $29,617.85
6. Indiana
How many years $1.2 million will last with Social Security: 40.18 years
How many years $1.2 million will last without Social Security: 22.12 years
Average annual expenditures: $54,244.46
Annual expenditure cost after Social Security: $29,863.58
7. Iowa
How many years $1.2 million will last with Social Security: 39.94 years
How many years $1.2 million will last without Social Security: 22.05 years
Average annual expenditures: $54,428.75
Annual expenditure cost after Social Security: $30,047.87
8. Missouri
How many years $1.2 million will last with Social Security: 39.85 years
How many years $1.2 million will last without Social Security: 22.02 years
Average annual expenditures: $54,490.18
Annual expenditure cost after Social Security: $30,109.30
9. Tennessee
How many years $1.2 million will last with Social Security: 39.69 years
How many years $1.2 million will last without Social Security: 21.97 years
Average annual expenditures: $54,613.05
Annual expenditure cost after Social Security: $30,232.17
10. Arkansas
How many years $1.2 million will last with Social Security: 39.53 years
How many years $1.2 million will last without Social Security: 21.92 years
Average annual expenditures: $54,735.91
Annual expenditure cost after Social Security: $30,355.03
11. New Mexico
How many years $1.2 million will last with Social Security: 38.90 years
How many years $1.2 million will last without Social Security: 21.73 years
Average annual expenditures: $55,227.37
Annual expenditure cost after Social Security: $30,846.49
12. Georgia
How many years $1.2 million will last with Social Security: 38.37 years
How many years $1.2 million will last without Social Security: 21.56 years
Average annual expenditures: $55,657.39
Annual expenditure cost after Social Security: $31,276.51
13. Texas
How many years $1.2 million will last with Social Security: 38.29 years
How many years $1.2 million will last without Social Security: 21.54 years
Average annual expenditures: $55,718.82
Annual expenditure cost after Social Security: $31,337.94
14. North Dakota
How many years $1.2 million will last with Social Security: 38.14 years
How many years $1.2 million will last without Social Security: 21.49 years
Average annual expenditures: $55,841.69
Annual expenditure cost after Social Security: $31,460.81
15. Louisiana
How many years $1.2 million will last with Social Security: 37.99 years
How many years $1.2 million will last without Social Security: 21.44 years
Average annual expenditures: $55,964.55
Annual expenditure cost after Social Security: $31,583.67
16. Nebraska
How many years $1.2 million will last with Social Security: 37.85 years
How many years $1.2 million will last without Social Security: 21.40 years
Average annual expenditures: $56,087.42
Annual expenditure cost after Social Security: $31,706.54
17. South Carolina
How many years $1.2 million will last with Social Security: 37.41 years
How many years $1.2 million will last without Social Security: 21.26 years
Average annual expenditures: $56,456.01
Annual expenditure cost after Social Security: $32,075.13
18. Kentucky
How many years $1.2 million will last with Social Security: 36.99 years
How many years $1.2 million will last without Social Security: 21.12 years
Average annual expenditures: $56,824.60
Annual expenditure cost after Social Security: $32,443.72
19. Minnesota
How many years $1.2 million will last with Social Security: 36.37 years
How many years $1.2 million will last without Social Security: 20.91 years
Average annual expenditures: $57,377.49
Annual expenditure cost after Social Security: $32,996.61
20. Wyoming
How many years $1.2 million will last with Social Security: 36.17 years
How many years $1.2 million will last without Social Security: 20.85 years
Average annual expenditures: $57,561.78
Annual expenditure cost after Social Security: $33,180.90
21. Ohio
How many years $1.2 million will last with Social Security: 36.03 years
How many years $1.2 million will last without Social Security: 20.80 years
Average annual expenditures: $57,684.65
Annual expenditure cost after Social Security: $33,303.77
22. Michigan
How many years $1.2 million will last with Social Security: 35.97 years
How many years $1.2 million will last without Social Security: 20.78 years
Average annual expenditures: $57,746.08
Annual expenditure cost after Social Security: $33,365.20
23. South Dakota
How many years $1.2 million will last with Social Security: 35.90 years
How many years $1.2 million will last without Social Security: 20.76 years
Average annual expenditures: $57,807.51
Annual expenditure cost after Social Security: $33,426.63
24. Illinois
How many years $1.2 million will last with Social Security: 35.25 years
How many years $1.2 million will last without Social Security: 20.54 years
Average annual expenditures: $58,421.83
Annual expenditure cost after Social Security: $34,040.95
25. Pennsylvania
How many years $1.2 million will last with Social Security: 34.57 years
How many years $1.2 million will last without Social Security: 20.31 years
Average annual expenditures: $59,097.58
Annual expenditure cost after Social Security: $34,716.70
26. North Carolina
How many years $1.2 million will last with Social Security: 34.32 years
How many years $1.2 million will last without Social Security: 20.22 years
Average annual expenditures: $59,343.31
Annual expenditure cost after Social Security: $34,962.43
27. Wisconsin
How many years $1.2 million will last with Social Security: 33.85 years
How many years $1.2 million will last without Social Security: 20.06 years
Average annual expenditures: $59,834.77
Annual expenditure cost after Social Security: $35,453.89
28. Virginia
How many years $1.2 million will last with Social Security: 32.88 years
How many years $1.2 million will last without Social Security: 19.71 years
Average annual expenditures: $60,879.11
Annual expenditure cost after Social Security: $36,498.23
29. Utah
How many years $1.2 million will last with Social Security: 32.07 years
How many years $1.2 million will last without Social Security: 19.42 years
Average annual expenditures: $61,800.59
Annual expenditure cost after Social Security: $37,419.71
30. Nevada
How many years $1.2 million will last with Social Security: 32.02 years
How many years $1.2 million will last without Social Security: 19.40 years
Average annual expenditures: $61,862.02
Annual expenditure cost after Social Security: $37,481.14
31. Florida
How many years $1.2 million will last with Social Security: 31.81 years
How many years $1.2 million will last without Social Security: 19.32 years
Average annual expenditures: $62,107.75
Annual expenditure cost after Social Security: $37,726.87
32. Idaho
How many years $1.2 million will last with Social Security: 31.65 years
How many years $1.2 million will last without Social Security: 19.26 years
Average annual expenditures: $62,292.05
Annual expenditure cost after Social Security: $37,911.17
33. Delaware
How many years $1.2 million will last with Social Security: 31.50 years
How many years $1.2 million will last without Social Security: 19.21 years
Average annual expenditures: $62,476.34
Annual expenditure cost after Social Security: $38,095.46
34. Colorado
How many years $1.2 million will last with Social Security: 31.45 years
How many years $1.2 million will last without Social Security: 19.19 years
Average annual expenditures: $62,537.78
Annual expenditure cost after Social Security: $38,156.90
35. Montana
How many years $1.2 million will last with Social Security: 29.50 years
How many years $1.2 million will last without Social Security: 18.45 years
Average annual expenditures: $65,056.49
Annual expenditure cost after Social Security: $40,675.61
36. Arizona
How many years $1.2 million will last with Social Security: 28.76 years
How many years $1.2 million will last without Social Security: 18.15 years
Average annual expenditures: $66,100.83
Annual expenditure cost after Social Security: $41,719.95
37. Oregon
How many years $1.2 million will last with Social Security: 27.94 years
How many years $1.2 million will last without Social Security: 17.82 years
Average annual expenditures: $67,329.47
Annual expenditure cost after Social Security: $42,948.59
38. New Hampshire
How many years $1.2 million will last with Social Security: 27.74 years
How many years $1.2 million will last without Social Security: 17.74 years
Average annual expenditures: $67,636.63
Annual expenditure cost after Social Security: $43,255.75
39. Rhode Island
How many years $1.2 million will last with Social Security: 27.32 years
How many years $1.2 million will last without Social Security: 17.57 years
Average annual expenditures: $68,312.38
Annual expenditure cost after Social Security: $43,931.50
40. Vermont
How many years $1.2 million will last with Social Security: 26.64 years
How many years $1.2 million will last without Social Security: 17.29 years
Average annual expenditures: $69,418.16
Annual expenditure cost after Social Security: $45,037.28
41. Connecticut
How many years $1.2 million will last with Social Security: 26.22 years
How many years $1.2 million will last without Social Security: 17.10 years
Average annual expenditures: $70,155.34
Annual expenditure cost after Social Security: $45,774.46
42. Maine
How many years $1.2 million will last with Social Security: 26.08 years
How many years $1.2 million will last without Social Security: 17.05 years
Average annual expenditures: $70,401.07
Annual expenditure cost after Social Security: $46,020.19
43. Washington
How many years $1.2 million will last with Social Security: 25.87 years
How many years $1.2 million will last without Social Security: 16.96 years
Average annual expenditures: $70,769.66
Annual expenditure cost after Social Security: $46,388.78
44. New Jersey
How many years $1.2 million will last with Social Security: 24.69 years
How many years $1.2 million will last without Social Security: 16.44 years
Average annual expenditures: $72,981.22
Annual expenditure cost after Social Security: $48,600.34
45. Maryland
How many years $1.2 million will last with Social Security: 23.99 years
How many years $1.2 million will last without Social Security: 16.13 years
Average annual expenditures: $74,394.15
Annual expenditure cost after Social Security: $50,013.27
46. New York
How many years $1.2 million will last with Social Security: 22.98 years
How many years $1.2 million will last without Social Security: 15.66 years
Average annual expenditures: $76,605.70
Annual expenditure cost after Social Security: $52,224.82
47. Alaska
How many years $1.2 million will last with Social Security: 21.87 years
How many years $1.2 million will last without Social Security: 15.14 years
Average annual expenditures: $79,247.28
Annual expenditure cost after Social Security: $54,866.40
48. California
How many years $1.2 million will last with Social Security: 19.38 years
How many years $1.2 million will last without Social Security: 13.90 years
Average annual expenditures: $86,311.96
Annual expenditure cost after Social Security: $61,931.08
49. Massachusetts
How many years $1.2 million will last with Social Security: 18.07 years
How many years $1.2 million will last without Social Security: 13.22 years
Average annual expenditures: $90,796.50
Annual expenditure cost after Social Security: $66,415.62
50. Hawaii
How many years $1.2 million will last with Social Security: 13.46 years
How many years $1.2 million will last without Social Security: 10.57 years
Average annual expenditures: $113,526.34
Annual expenditure cost after Social Security: $89,145.46
Methodology: To find how long $1.2 million will last across the country with AND without Social Security, MoneyLion first found (1) the national average annual expenditures for people 65 and older, sourced from the Bureau of Labor Statistics' 2024 Consumer Expenditure Survey data, and (2) annual Social Security income as sourced from the Social Security Administration's July 2026 data. Then, MoneyLion created (2) state-level annual expenditure estimates by multiplying the national figure by each state's overall cost-of-living index score for 2026 Q1 from the Missouri Economic Research and Information Center. Finally, MoneyLion found (3) how many years $1,200,000 will last in each state by dividing $1.2 million by each state's average annual expenditure estimate minus yearly Social Security income. All 50 states were then ranked, with No. 1 being the state where $1.2 million and $1.2 million plus Social Security will last the longest and No. 50 being the state where it will run out most quickly. MoneyLion provided supplemental information on the average annual cost of groceries, housing, utilities, transportation and healthcare for people 65 and older in each state, again using MERIC's cost-of-living indices for each category to factor out national estimates from the CEX. All data points were collected and are up to date as of Aug. 20, 2026.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal, or tax advice. The research, writing and data analysis were handled by our editorial team. The formatting of the data alone was created with the assistance of artificial intelligence and reviewed by our editorial team for accuracy; however, AI-generated content may be inaccurate, incomplete, or outdated. You should independently verify important information through reliable sources before making any decisions based on this content.
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