Advertiser Disclosure

How Long $2 Million in Retirement Will Last in Every State

August 11, 2025

7 min Read

Written by Jordan Rosenfeld

Edited by Chris Cluff

Commitment to Our Readers

GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.

20 YearsHelping You Live Richer

Reviewed by Experts

Trusted by Millions of Readers

While many financial experts recommend a minimum of a million dollars saved for a comfortable retirement, others suggest that the number should be closer to $2 million — especially if your retirement days are many years away or you want to retire in a more expensive city.

While $2 million may sound like a lot of money, look at how far it stretches in all 50 states and you’ll start to see how it’s not all that much over time.

To find how long $2 million will last in retirement across the country, GOBankingRates gathered national average annual expenditures data for people 65 and older from the Bureau of Labor Statistics Consumer Expenditure Survey data, and annual expenditure estimates from the Missouri Economic Research and Information Center.

GOBankingRates divided $2 million by each state’s average annual expenditures estimate. All 50 states were then ranked, with No. 1 being the state where $2 million will last the longest.

Also see how long $1 million will last in every state.

50. Hawaii

Number of years $2 million will last after Social Security: 22.79
Annual expenditures after Social Security: $87,770

49. Massachusetts

Number of years $2 million will last after Social Security: 30.71
Annual expenditures after Social Security: $65,117

48. California

Number of years $2 million will last after Social Security: 31.35
Annual expenditures after Social Security: $63,795

47. New York

Number of years $2 million will last after Social Security: 39.22
Annual expenditures after Social Security: $50,997

46. Alaska

Number of years $2 million will last after Social Security: 39,22
Annual expenditures after Social Security: $65,117

45. New Jersey

Number of years $2 million will last after Social Security: 43.64
Annual expenditures after Social Security: $45,829

Today’s Top Offers

44. Vermont

Number of years $2 million will last after Social Security: 44.04
Annual expenditures after Social Security: $45,409

43. Washington

Number of years $2 million will last after Social Security: 44.34
Annual expenditures after Social Security: $45,108

For You: These Are America’s 50 Fastest-Growing Retirement Hot Spots

42. Maine

Number of years $2 million will last after Social Security: 44.4
Annual expenditures after Social Security: $45,048

41. Arizona

Number of years $2 million will last after Social Security: 44.82
Annual expenditures after Social Security: $44,628

40. Rhode Island

Number of years $2 million will last after Social Security: 45.06
Annual expenditures after Social Security: $44,387

39. Connecticut

Number of years $2 million will last after Social Security: 45.49
Annual expenditures after Social Security: $43,967

38. New Hampshire

Number of years $2 million will last after Social Security: 45.61
Annual expenditures after Social Security: $43,847

Explore More: Cutting Expenses for Retirement? Here’s the No. 1 Thing To Get Rid Of First

37. Oregon

Number of years $2 million will last after Social Security: 46.57
Annual expenditures after Social Security: $42,945

36. Utah

Number of years $2 million will last after Social Security: 46.9
Annual expenditures after Social Security: $42,645

35. Colorado

Number of years $2 million will last after Social Security: 51.87
Annual expenditures after Social Security: $38,559

34. Florida

Number of years $2 million will last after Social Security: 52.11
Annual expenditures after Social Security: $38,379

33. Idaho

Number of years $2 million will last after Social Security: 52.44
Annual expenditures after Social Security: $38,138

32. Virginia

Number of years $2 million will last after Social Security: 53.71
Annual expenditures after Social Security: $37,237

31. Delaware

Number of years $2 million will last after Social Security: 53.97
Annual expenditures after Social Security: $37,057

Today’s Top Offers

30. Nevada

Number of years $2 million will last after Social Security: 54.06
Annual expenditures after Social Security: $36,997

29. Wisconsin

Number of years $2 million will last after Social Security: 54.77
Annual expenditures after Social Security: $36,516

28. Maryland

Number of years $2 million will last after Social Security: 55.13
Annual expenditures after Social Security: $36,276

27. North Carolina

Number of years $2 million will last after Social Security: 56.35
Annual expenditures after Social Security: $35,495

26. Illinois

Number of years $2 million will last after Social Security: 58.42
Annual expenditures after Social Security: $34,233

25. Wyoming

Number of years $2 million will last after Social Security: 58.53
Annual expenditures after Social Security: $34,173

24. Minnesota

Number of years $2 million will last after Social Security: 58.63
Annual expenditures after Social Security: $34,113

23. South Carolina

Number of years $2 million will last after Social Security: 58.73
Annual expenditures after Social Security: $34,052

22. Pennsylvania

Number of years $2 million will last after Social Security: 59.05
Annual expenditures after Social Security: $33,872

21. Ohio

Number of years $2 million will last after Social Security: 59.05
Annual expenditures after Social Security: $33,872

20. Montana

Number of years $2 million will last after Social Security: 60.0
Annual expenditures after Social Security: $33,331

19. Louisiana

Number of years $2 million will last after Social Security: 60.55
Annual expenditures after Social Security: $33,031

18. New Mexico

Number of years $2 million will last after Social Security: 61.22
Annual expenditures after Social Security: $32,670

17. Kentucky

Number of years $2 million will last after Social Security: 61.22
Annual expenditures after Social Security: $32,670

16. Nebraska

Number of years $2 million will last after Social Security: 61.33
Annual expenditures after Social Security: $32,610

Today’s Top Offers

15. Texas

Number of years $2 million will last after Social Security: 61.56
Annual expenditures after Social Security: $32,490

14. South Dakota

Number of years $2 million will last after Social Security: 61.90
Annual expenditures after Social Security: $32,310

13. Michigan

Number of years $2 million will last after Social Security: 61.90
Annual expenditures after Social Security: $32,310

12. North Dakota

Number of years $2 million will last after Social Security: 62.13
Annual expenditures after Social Security: $32,190

11. Georgia

Number of years $2 million will last after Social Security: 62.84
Annual expenditures after Social Security: $31,829

10. Indiana

Number of years $2 million will last after Social Security: 63.07
Annual expenditures after Social Security: $31,709

9. Iowa

Number of years $2 million will last after Social Security: 64.17
Annual expenditures after Social Security: $31,168

8. Tennessee

Number of years $2 million will last after Social Security: 64.67
Annual expenditures after Social Security: $30,928

7. Arkansas

Number of years $2 million will last after Social Security: 65.95
Annual expenditures after Social Security: $30,327

6. Missouri

Number of years $2 million will last after Social Security: 65.95
Annual expenditures after Social Security: $30,327

5. Alabama

Number of years $2 million will last after Social Security: 66.21
Annual expenditures after Social Security: $30,207

4. Oklahoma

Number of years $2 million will last after Social Security: 67.42
Annual expenditures after Social Security: $29,666

3. Mississippi

Number of years $2 million will last after Social Security: 67.97
Annual expenditures after Social Security: $29,426

2. Kansas

Number of years $2 million will last after Social Security: 69.10
Annual expenditures after Social Security: $28,945

Today’s Top Offers

1. West Virginia

Number of years $2 million will last after Social Security: 71.93
Annual expenditures after Social Security: $27,803

Methodology: In order to find how long $2 million will last across the country with and without Social Security, GOBankingRates first found (1) the national average annual expenditures for people 65 and older, sourced from the Bureau of Labor Statistics’ 2023 Consumer Expenditure Survey data and (2) annual Social Security income, sourced from the Social Security Administration’s January 2025 data. Then, GOBankingRates created (2) state-level annual expenditure estimates by multiplying the national figure by each state’s overall cost-of-living index for 2024 from the Missouri Economic Research and Information Center. Finally, GOBankingRates found (3) how many years $2 million will last in each state by dividing $2 million by each state’s average annual expenditures estimate and its annual expenditures estimate minus yearly Social Security income. All 50 states were then ranked, with No. 1 being the state where $2 million will last the longest and No. 50 being the state where it will run out most quickly. All data was collected on and is up to date as of March 7, 2025.

More From GOBankingRates