How Long $1.5 Million Will Last in Every State If Social Security Runs Out

It’s no secret that America’s Social Security system is struggling with a number of issues and that it may even be wholly insolvent by 2034. Were that to be the case, American retirees would be forced to retire solely on their lifetime savings to financially survive in their golden years.

Would you be able to do that? Could you do that in a state less expensive than you live in now? Would you be able to save, say, $1.5 million by the time you retire and live off it?

It’s a question GOBankingRates has analyzed, gathering statistics from both the Social Security Administration’s January 2025 information as well as the Bureau of Labor Statistics’ 2023 Consumer Expenditure Survey. With that information, GOBankingRates then assessed the average annual expenditures for every state in America and held that against $1.5 million worth of retirement savings. While the national average is $1.5 million lasting 25 years, some states burn through that amount far faster and others last far beyond 25 years.

Could your state’s cost of living sustain a retirement on $1.5 million? Keep reading to find out.

Also see the same question at $2 million.

• Annual expenditures: $53,357
• Years $1.5 million will last: 28.1
• National average: 25 years

• Annual expenditures: $74,147
• Years $1.5 million will last: 20.2
• National average: 25 years

• Annual expenditures: $67,778
• Years $1.5 million will last: 22.1
• National average: 25 years

• Annual expenditures: $53,447
• Years $1.5 million will last: 28.1
• National average: 25 years

• Annual expenditures: $86,946
• Years $1.5 million will last: 17.3
• National average: 25 years

• Annual expenditures: $61,709
• Years $1.5 million will last: 24.3
• National average: 25 years

• Annual expenditures: $67,117
• Years $1.5 million will last: 22.4
• National average: 25 years

• Annual expenditures: $60,207
• Years $1.5 million will last: 24.9
• National average: 25 years

• Annual expenditures: $61,529
• Years $1.5 million will last: 24.4
• National average: 25 years

• Annual expenditures: $54,980
• Years $1.5 million will last: 27.3
• National average: 25 years

• Annual expenditures: $110,921
• Years $1.5 million will last: 13.5
• National average: 25 years

• Annual expenditures: $61,289
• Years $1.5 million will last: 24.5
• National average: 25 years

• Annual expenditures: $57,383
• Years $1.5 million will last: 26.1
• National average: 25 years

• Annual expenditures: $54,859
• Years $1.5 million will last: 27.3
• National average: 25 years

• Annual expenditures: $54,319
• Years $1.5 million will last: 27.6
• National average: 25 years

• Annual expenditures: $52,095
• Years $1.5 million will last: 28.8
• National average: 25 years

• Annual expenditures: $55,821
• Years $1.5 million will last: 26.9
• National average: 25 years

• Annual expenditures: $56,181
• Years $1.5 million will last: 26.7
• National average: 25 years

• Annual expenditures: $68,199
• Years $1.5 million will last: 22
• National average: 25 years

• Annual expenditures: $59,426
• Years $1.5 million will last: 25.2
• National average: 25 years

• Annual expenditures: $88,268
• Years $1.5 million will last: 17
• National average: 25 years

• Annual expenditures: $55,460
• Years $1.5 million will last: 27.1
• National average: 25 years

• Annual expenditures: $57,263
• Years $1.5 million will last: 26.2
• National average: 25 years

• Annual expenditures: $52,576
• Years $1.5 million will last: 28.5
• National average: 25 years

• Annual expenditures: $53,477
• Years $1.5 million will last: 28.1
• National average: 25 years

• Annual expenditures: $56,482
• Years $1.5 million will last: 26.6
• National average: 25 years

• Annual expenditures: $55,761
• Years $1.5 million will last: 26.9
• National average: 25 years

• Annual expenditures: $60,147
• Years $1.5 million will last: 24.9
• National average: 25 years

• Annual expenditures: $66,997  
• Years $1.5 million will last: 22.4
• National average: 25 years

• Annual expenditures: $68,980
• Years $1.5 million will last: 21.8
• National average: 25 years

• Annual expenditures: $55,821
• Years $1.5 million will last: 26.9
• National average: 25 years

• Annual expenditures: $74,147
• Years $1.5 million will last: 20.2
• National average: 25 years

• Annual expenditures: $58,645
• Years $1.5 million will last: 25.6
• National average: 25 years

• Annual expenditures: $55,340
• Years $1.5 million will last: 27.1
• National average: 25 years

• Annual expenditures: $57,023
• Years $1.5 million will last: 26.3
• National average: 25 years

• Annual expenditures: $52,816
• Years $1.5 million will last: 28.4
• National average: 25 years

• Annual expenditures: $66,096
• Years $1.5 million will last: 22.7
• National average: 25 years

• Annual expenditures: $57,023
• Years $1.5 million will last: 26.3
• National average: 25 years

• Annual expenditures: $67,538
• Years $1.5 million will last: 22.2
• National average: 25 years

• Annual expenditures: $57,203
• Years $1.5 million will last: 26.2
• National average: 25 years

• Annual expenditures: $55,460
• Years $1.5 million will last: 27.1
• National average: 25 years

• Annual expenditures: $54,078
• Years $1.5 million will last: 27.7
• National average: 25 years

• Annual expenditures: $55,641
• Years $1.5 million will last: 27
• National average: 25 years

• Annual expenditures: $65,795
• Years $1.5 million will last: $22.8
• National average: 25 years

• Annual expenditures: $68,559
• Years $1.5 million will last: 21.9
• National average: 25 years

• Annual expenditures: $60,387
• Years $1.5 million will last: 24.8
• National average: 25 years

• Annual expenditures: $68,259
• Years $1.5 million will last: 22
• National average: 25 years

• Annual expenditures: $50,954
• Years $1.5 million will last: 29.4
• National average: 25 years

• Annual expenditures: $59,666
• Years $1.5 million will last: 25.1
• National average: 25 years

• Annual expenditures: $57,232
• Years $1.5 million will last: 26.2
• National average: 25 years

Methodology: GOBankingRates found the national average annual expenditures for people 65 and older, sourced from the Bureau of Labor Statistics’ 2023 Consumer Expenditure Survey data. Then, GOBankingRates created (2) state-level annual expenditure estimates by multiplying the national figure by each state’s overall cost-of-living index score for 2024 from the Missouri Economic Research and Information Center. Finally, GOBankingRates found (3) how many years $1,500,000 will last in each state by dividing $1,500,000 by each state’s average annual expenditures estimate and its annual expenditures estimate minus yearly Social Security income. All data was collected on and is up to date as of March 7, 2025.