How Long $1M in Retirement Savings Will Last in Every State
The more expensive the state, the greater need for retirees to increase their retirement nest eggs. A new MoneyLion analysis has determined that $1 million in savings covers less than 20 years of retirement for retirees without Social Security in every state. If you are planning to receive benefits, however, $1 million will stretch across 20 years or more in 45 states.
So how many people actually have $1 million saved? About 18%, according to the most recent Federal Reserve survey. That includes real estate and other accounts that are not necessarily retirement specific.
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So with more than 80% of Americans well under that benchmark, it pays to know how long it will last.
MoneyLion found these results by studying the national average annual expenditures for people 65 and older and annual Social Security income. We created state-level annual expenditure estimates by multiplying the national figure by each state’s cost-of-living index.
Key Findings
The average time $1 million with Social Security will last for retirees across America is about 27 years.
In Oklahoma, you can stretch that $1 million the furthest. The average retiree in Oklahoma can enjoy 36 years on Social Security and 19 years without benefits.
In Hawaii, where average annual expenditures exceed $100,000, retirees can last just 11 years with benefits and a paltry nine years without.
Social Security plus $1 million in savings equals 30+ years of lasting financial power in 21 states: Oklahoma (36 years), Mississippi (35), West Virginia (34), Alabama (34), Kansas (33), Missouri (33), Iowa (32), Arkansas (32), Tennessee (32), Indiana (32), North Dakota (32), Texas (32), Kentucky (31), South Dakota (31), Nebraska (31), Michigan (31), Georgia (31), South Carolina (31), Louisiana (31), Minnesota (30) and New Mexico (30).
There is no state where $1 million in retirement savings can last for more than 20 years without Social Security.
Ranked from the most to least years, here’s how long $1 million in retirement savings last in every state, rounded off to the nearest year.
1. Oklahoma
Number of years $1 million will last WITH Social Security: 36
Number of years $1 million will last WITHOUT Social Security: 19
Annual grocery expenditures: $4,923
Annual housing expenditures: $7,514
Annual healthcare expenditures: $7,842
2. Mississippi
Number of years $1 million will last WITH Social Security: 35
Number of years $1 million will last WITHOUT Social Security: 19
Annual grocery expenditures: $4,744
Annual housing expenditures: $8,606
Annual healthcare expenditures: $7,754
3. West Virginia
Number of years $1 million will last WITH Social Security: 34
Number of years $1 million will last WITHOUT Social Security: 19
Annual grocery expenditures: $4,714
Annual housing expenditures: $9,083
Annual healthcare expenditures: $7,586
4. Alabama
Number of years $1 million will last WITH Social Security: 34
Number of years $1 million will last WITHOUT Social Security: 18
Annual grocery expenditures: $4,789
Annual housing expenditures: $9,271
Annual healthcare expenditures: $7,971
5. Kansas
Number of years $1 million will last WITH Social Security: 33
Number of years $1 million will last WITHOUT Social Security: 18
Annual grocery expenditures: $4,834
Annual housing expenditures: $8,719
Annual healthcare expenditures: $6,983
6. Missouri
Number of years $1 million will last WITH Social Security: 33
Number of years $1 million will last WITHOUT Social Security: 18
Annual grocery expenditures: $4,774
Annual housing expenditures: $9,760
Annual healthcare expenditures: $7,369
7. Iowa
Number of years $1 million will last WITH Social Security: 32
Number of years $1 million will last WITHOUT Social Security: 18
Annual grocery expenditures: $4,734
Annual housing expenditures: $9,384
Annual healthcare expenditures: $6,879
8. Arkansas (tied)
Number of years $1 million will last WITH Social Security: 32
Number of years $1 million will last WITHOUT Social Security: 18
Annual grocery expenditures: $4,804
Annual housing expenditures: $9,384
Annual healthcare expenditures: $7,690
8. Tennessee (tied)
Number of years $1 million will last WITH Social Security: 32
Number of years $1 million will last WITHOUT Social Security: 18
Annual grocery expenditures: $4,883
Annual housing expenditures: $9,246
Annual healthcare expenditures: $7,168
10. Indiana
Number of years $1 million will last WITH Social Security: 32
Number of years $1 million will last WITHOUT Social Security: 18
Annual grocery expenditures: $4,829
Annual housing expenditures: $10,437
Annual healthcare expenditures: $7,112
11. North Dakota (tied)
Number of years $1 million will last WITH Social Security: 32
Number of years $1 million will last WITHOUT Social Security: 18
Annual grocery expenditures: $4,839
Annual housing expenditures: $9,672
Annual healthcare expenditures: $7,810
11. Texas (tied)
Number of years $1 million will last WITH Social Security: 32
Number of years $1 million will last WITHOUT Social Security: 18
Annual grocery expenditures: $4,839
Annual housing expenditures: $9,936
Annual healthcare expenditures: $8,059
13. Kentucky
Number of years $1 million will last WITH Social Security: 31
Number of years $1 million will last WITHOUT Social Security: 18
Annual grocery expenditures: $4,724
Annual housing expenditures: $10,049
Annual healthcare expenditures: $8,685
14. South Dakota (tied)
Number of years $1 million will last WITH Social Security: 31
Number of years $1 million will last WITHOUT Social Security: 18
Annual grocery expenditures: $4,849
Annual housing expenditures: $11,052
Annual healthcare expenditures: $8,107
14. Nebraska (tied)
Number of years $1 million will last WITH Social Security: 31
Number of years $1 million will last WITHOUT Social Security: 18
Annual grocery expenditures: $4,779
Annual housing expenditures: $10,513
Annual healthcare expenditures: $7,754
16. Michigan
Number of years $1 million will last WITH Social Security: 31
Number of years $1 million will last WITHOUT Social Security: 18
Annual grocery expenditures: $4,779
Annual housing expenditures: $10,287
Annual healthcare expenditures: $7,586
17. Georgia
Number of years $1 million will last WITH Social Security: 31
Number of years $1 million will last WITHOUT Social Security: 18
Annual grocery expenditures: $4,963
Annual housing expenditures: $9,873
Annual healthcare expenditures: $8,557
18. South Carolina
Number of years $1 million will last WITH Social Security: 31
Number of years $1 million will last WITHOUT Social Security: 18
Annual grocery expenditures: $4,933
Annual housing expenditures: $10,036
Annual healthcare expenditures: $8,027
19. Louisiana
Number of years $1 million will last WITH Social Security: 31
Number of years $1 million will last WITHOUT Social Security: 18
Annual grocery expenditures: $4,794
Annual housing expenditures: $10,902
Annual healthcare expenditures: $8,244
20. Minnesota
Number of years $1 million will last WITH Social Security: 30
Number of years $1 million will last WITHOUT Social Security: 17
Annual grocery expenditures: $4,918
Annual housing expenditures: $10,751
Annual healthcare expenditures: $7,586
21. New Mexico
Number of years $1 million will last WITH Social Security: 30
Number of years $1 million will last WITHOUT Social Security: 17
Annual grocery expenditures: $4,879
Annual housing expenditures: $10,450
Annual healthcare expenditures: $7,955
22. Ohio (tied)
Number of years $1 million will last WITH Social Security: 30
Number of years $1 million will last WITHOUT Social Security: 17
Annual grocery expenditures: $5,038
Annual housing expenditures: $10,851
Annual healthcare expenditures: $8,533
22. Wyoming (tied)
Number of years $1 million will last WITH Social Security: 30
Number of years $1 million will last WITHOUT Social Security: 17
Annual grocery expenditures: $4,933
Annual housing expenditures: $10,575
Annual healthcare expenditures: $7,272
24. Illinois
Number of years $1 million will last WITH Social Security: 29
Number of years $1 million will last WITHOUT Social Security: 17
Annual grocery expenditures: $5,077
Annual housing expenditures: $10,149
Annual healthcare expenditures: $8,428
25. Montana
Number of years $1 million will last WITH Social Security: 28
Number of years $1 million will last WITHOUT Social Security: 17
Annual grocery expenditures: $4,988
Annual housing expenditures: $11,115
Annual healthcare expenditures: $8,372
26. Pennsylvania
Number of years $1 million will last WITH Social Security: 28
Number of years $1 million will last WITHOUT Social Security: 17
Annual grocery expenditures: $4,938
Annual housing expenditures: $10,877
Annual healthcare expenditures: $7,465
27. North Carolina
Number of years $1 million will last WITH Social Security: 28
Number of years $1 million will last WITHOUT Social Security: 17
Annual grocery expenditures: $4,874
Annual housing expenditures: $11,491
Annual healthcare expenditures: $8,541
28. Wisconsin
Number of years $1 million will last WITH Social Security: 28
Number of years $1 million will last WITHOUT Social Security: 17
Annual grocery expenditures: $4,893
Annual housing expenditures: $11,704
Annual healthcare expenditures: $8,404
29. Idaho
Number of years $1 million will last WITH Social Security: 27
Number of years $1 million will last WITHOUT Social Security: 16
Annual grocery expenditures: $4,953
Annual housing expenditures: $13,110
Annual healthcare expenditures: $8,428
30. Utah
Number of years $1 million will last WITH Social Security: 27
Number of years $1 million will last WITHOUT Social Security: 16
Annual grocery expenditures: $5,097
Annual housing expenditures: $12,219
Annual healthcare expenditures: $8,220
31. Nevada
Number of years $1 million will last WITH Social Security: 27
Number of years $1 million will last WITHOUT Social Security: 16
Annual grocery expenditures: $5,132
Annual housing expenditures: $13,511
Annual healthcare expenditures: $6,992
32. Florida
Number of years $1 million will last WITH Social Security: 26
Number of years $1 million will last WITHOUT Social Security: 16
Annual grocery expenditures: $5,152
Annual housing expenditures: $12,658
Annual healthcare expenditures: $7,907
33. Virginia
Number of years $1 million will last WITH Social Security: 26
Number of years $1 million will last WITHOUT Social Security: 16
Annual grocery expenditures: $5,008
Annual housing expenditures: $13,511
Annual healthcare expenditures: $8,372
34. Delaware
Number of years $1 million will last WITH Social Security: 26
Number of years $1 million will last WITHOUT Social Security: 16
Annual grocery expenditures: $5,232
Annual housing expenditures: $13,561
Annual healthcare expenditures: $7,947
34. Colorado
Number of years $1 million will last WITH Social Security: 26
Number of years $1 million will last WITHOUT Social Security: 16
Annual grocery expenditures: $4,859
Annual housing expenditures: $14,653
Annual healthcare expenditures: $7,096
36. Arizona
Number of years $1 million will last WITH Social Security: 23
Number of years $1 million will last WITHOUT Social Security: 15
Annual grocery expenditures: $5,028
Annual housing expenditures: $16,547
Annual healthcare expenditures: $7,441
37. New Hampshire
Number of years $1 million will last WITH Social Security: 23
Number of years $1 million will last WITHOUT Social Security: 15
Annual grocery expenditures: $5,281
Annual housing expenditures: $16,722
Annual healthcare expenditures: $8,806
38. Rhode Island
Number of years $1 million will last WITH Social Security: 23
Number of years $1 million will last WITHOUT Social Security: 15
Annual grocery expenditures: $5,048
Annual housing expenditures: $16,145
Annual healthcare expenditures: $9,127
39. Oregon
Number of years $1 million will last WITH Social Security: 22
Number of years $1 million will last WITHOUT Social Security: 14
Annual grocery expenditures: $5,067
Annual housing expenditures: $14,226
Annual healthcare expenditures: $8,396
40. Washington
Number of years $1 million will last WITH Social Security: 22
Number of years $1 million will last WITHOUT Social Security: 14
Annual grocery expenditures: $5,102
Annual housing expenditures: $14,703
Annual healthcare expenditures: $8,822
41. Vermont
Number of years $1 million will last WITH Social Security: 22
Number of years $1 million will last WITHOUT Social Security: 14
Annual grocery expenditures: $4,968
Annual housing expenditures: $14,740
Annual healthcare expenditures: $8,356
42. Maine
Number of years $1 million will last WITH Social Security: 22
Number of years $1 million will last WITHOUT Social Security: 14
Annual grocery expenditures: $5,251
Annual housing expenditures: $15,920
Annual healthcare expenditures: $9,480
42. Connecticut
Number of years $1 million will last WITH Social Security: 22
Number of years $1 million will last WITHOUT Social Security: 14
Annual grocery expenditures: $5,281
Annual housing expenditures: $16,271
Annual healthcare expenditures: $8,942
44. New Jersey
Number of years $1 million will last WITH Social Security: 22
Number of years $1 million will last WITHOUT Social Security: 14
Annual grocery expenditures: $5,182
Annual housing expenditures: $17,174
Annual healthcare expenditures: $8,629
45. Maryland
Number of years $1 million will last WITH Social Security: 21
Number of years $1 million will last WITHOUT Social Security: 14
Annual grocery expenditures: $5,326
Annual housing expenditures: $17,036
Annual healthcare expenditures: $8,099
46. New York
Number of years $1 million will last WITH Social Security: 19
Number of years $1 million will last WITHOUT Social Security: 13
Annual grocery expenditures: $5,167
Annual housing expenditures: $21,076
Annual healthcare expenditures: $8,741
47. Alaska
Number of years $1 million will last WITH Social Security: 19
Number of years $1 million will last WITHOUT Social Security: 13
Annual grocery expenditures: $6,321
Annual housing expenditures: $14,803
Annual healthcare expenditures: $12,041
48. California
Number of years $1 million will last WITH Social Security: 16
Number of years $1 million will last WITHOUT Social Security: 11
Annual grocery expenditures: $5,555
Annual housing expenditures: $26,181
Annual healthcare expenditures: $8,645
49. Massachusetts
Number of years $1 million will last WITH Social Security: 15
Number of years $1 million will last WITHOUT Social Security: 11
Annual grocery expenditures: $5,192
Annual housing expenditures: $27,448
Annual healthcare expenditures: $10,090
50. Hawaii
Number of years $1 million will last WITH Social Security: 11
Number of years $1 million will last WITHOUT Social Security: 9
Annual grocery expenditures: $6,485
Annual housing expenditures: $38,890
Annual healthcare expenditures: $9,721
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Methodology: In order to find how long $1 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 April 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 2025 from the Missouri Economic Research and Information Center. Finally, MoneyLion found (3) how many years $1 million will last in each state by dividing $1 million by each state's average annual expenditures estimate and its annual expenditures estimate minus yearly Social Security income. MoneyLion provided supplemental information on the average annual cost of groceries, housing, utilities, transportation, and healthcare for people 65 and older in each state by again using MERIC's cost of living indices for each category to factor out national estimates from the CEX. All data is up to date as of May 19, 2026.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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