How Far $500K Plus Social Security Goes in the South

Regardless of how much every Southern state’s cost of living is, $500,000 in retirement savings coupled with Social Security benefits can fund at least 13 years of retirement — if not more.

Take a look at how many years worth of retirement you can get out of this savings in the South.

• Number of years $500,000 will last with Social Security: 16.53
• Annual expenditure: $53,357
• Annual expenditure after Social Security: $30,249

• Number of years $500,000 will last with Social Security: 16.46
• Annual expenditure: $53,477
• Annual expenditure after Social Security: $30,370

• Number of years $500,000 will last with Social Security: 13.5
• Annual expenditure: $60,207
• Annual expenditure after Social Security: $37,099

• Number of years $500,000 will last with Social Security: 13
• Annual expenditure: $61,529
• Annual expenditure after Social Security: $38,421

• Number of years $500,000 will last with Social Security: 15.7
• Annual expenditure: $54,980
• Annual expenditure after Social Security: $31,872

• Number of years $500,000 will last with Social Security: 15.28
• Annual expenditure: $55,821
• Annual expenditure after Social Security: $32,713

• Number of years $500,000 will last with Social Security: 15.12
• Annual expenditure: $56,181
• Annual expenditure after Social Security: $33,073

• Number of years $500,000 will last with Social Security: 13.8
• Annual expenditure: $59,426
• Annual expenditure after Social Security: $36,318

• Number of years $500,000 will last with Social Security: 16.97
• Annual expenditure: $52,576
• Annual expenditure after Social Security: $29,468

• Number of years $500,000 will last with Social Security: 14.1
• Annual expenditure: $58,645
• Annual expenditure after Social Security: $35,537

• Number of years $500,000 will last with Social Security: 16.83
• Annual expenditure: $52,816
• Annual expenditure after Social Security: $29,709

• Number of years $500,000 will last with Social Security: 14.7
• Annual expenditure: $57,203
• Annual expenditure after Social Security: $34,095

• Number of years $500,000 will last with Social Security: 16.14
• Annual expenditure: $54,078
• Annual expenditure after Social Security: $30,970

• Number of years $500,000 will last with Social Security: 15.37
• Annual expenditure: $55,641
• Annual expenditure after Social Security: $32,533

• Number of years $500,000 will last with Social Security: 13.4
• Annual expenditure: $60,387
• Annual expenditure after Social Security: $37,280

• Number of years $500,000 will last with Social Security: 17.96
• Annual expenditure: $50,954
• Annual expenditure after Social Security: $27,846

Methodology: In order to find how long $500,000 will last across the country with 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 from the Social Security Administration’s December 2024 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 Q3 from the Missouri Economic Research and Information Center. Finally, GOBankingRates found (3) how many years $500,000 will last in each state by dividing $500,000 by each state’s average annual expenditures estimate minus yearly Social Security income. All data was collected on and is up to date as of Feb. 4, 2025.