It should come as no surprise that your retirement location may have a huge impact on how long your savings will survive. In the United States, $1 million in savings will typically last 19 years. In some locations, those savings will last for a lot less time. Because individuals who retire in pricey states like Hawaii can anticipate that their $1 million in savings from their retirement fund will last 10 years and three months, whereas those in California will see about 13 years.
But we have some good news! If you have $1 million in your retirement savings and choose to live in one of these states from the list below, they will last for almost 21 years. Neat, right?
Let’s see what the states are on the next point of the article. Are you curious about all the top-notch states? Click on the next page!