How Long $1 Million Will Last in Retirement in Every State

Where in the United States does $1 million in retirement savings last the longest? According to a new study from GOBankingRates, this amount goes the distance in the South. Oklahoma, Mississippi and Alabama ranked as the top three states where $1 million affords 18+ years in retirement.

For this study, GOBankingRates found the national average annual expenditures for people ages 65 and older in every state. From there, we created state-level annual expenditure estimates by multiplying the national figure by each state’s overall cost-of-living index score for Q3 2025. The number of years $1 million lasts in each state was determined by dividing $1 million by each state’s average annual expenditures estimate.

• Three Southern states are the best for retiring on $1 million. It will last over 19 years in both Oklahoma and Mississippi, and 18.5 years in Alabama.
• Hawaii ranks dead last. Retirees can fund just nine years of retirement in The Aloha State.
• The $1 million would last you under 15 years in 16 other states, including all of the West Coast states.
• The 10 states where you can retire longest on $1 million are Oklahoma (#1), Mississippi (#2), Alabama (#3), West Virginia (#4), Kansas (#5), Missouri (#6), Arkansas (#7), Iowa (#8), Tennessee (#8), Indiana (#10).

Here’s how long $1 million lasts for retirement in every state. Also, view our analysis on the nation’s 30 safest and wealthiest retirement towns.

• Number of years $1 million will last: 19.3
• Average annual expenditures: $51,849
• Average annual grocery costs: $4,973
• Average annual housing costs: $8,824
• Average annual healthcare costs: $7,261

• Number of years $1 million will last: 19
• Average annual expenditures: $52,524
• Average annual grocery costs: $4,952
• Average annual housing costs: $9,122
• Average annual healthcare costs: $7,300

• Number of years $1 million will last: 18.5
• Average annual expenditures: $53,999
• Average annual grocery costs: $5,130
• Average annual housing costs: $9,239
• Average annual healthcare costs: $6,910

• Number of years $1 million will last: 18.5
• Average annual expenditures: $54,122
• Average annual grocery costs: $5,046
• Average annual housing costs: $9,200
• Average annual healthcare costs: $7,105

• Number of years $1 million will last: 18.3
• Average annual expenditures: $54,613
• Average annual grocery costs: $5,015
• Average annual housing costs: $10,071
• Average annual healthcare costs: $7,269

• Number of years $1 million will last: 18.3
• Average annual expenditures: $54,674
• Average annual grocery costs: $4,999
• Average annual housing costs: $10,110
• Average annual healthcare costs: $7,534

• Number of years $1 million will last: 18.2
• Average annual expenditures: $54,859
• Average annual grocery costs: $4,847
• Average annual housing costs: $10,123
• Average annual healthcare costs: $6,692

• Number of years $1 million will last: 18
• Average annual expenditures: $55,473
• Average annual grocery costs: $5,141
• Average annual housing costs: $10,032
• Average annual healthcare costs: $7,542

• Number of years $1 million will last: 18
• Average annual expenditures: $55,473
• Average annual grocery costs: $5,083
• Average annual housing costs: $10,786
• Average annual healthcare costs: $6,840

• Number of years $1 million will last: 18
• Average annual expenditures: $55,657
• Average annual grocery costs: $5,235
• Average annual housing costs: $9,902
• Average annual healthcare costs: $7,854

• Number of years $1 million will last: 18
• Average annual expenditures: $55,780
• Average annual grocery costs: $4,967
• Average annual housing costs: $10,227
• Average annual healthcare costs: $7,495

• Number of years $1 million will last: 18
• Average annual expenditures: $56,087
• Average annual grocery costs: $4,952
• Average annual housing costs: $9,941
• Average annual healthcare costs: $8,517

• Number of years $1 million will last: 17.8
• Average annual expenditures: $56,272
• Average annual grocery costs: $5,156
• Average annual housing costs: $10,266
• Average annual healthcare costs: $7,869

• Number of years $1 million will last: 17.7
• Average annual expenditures: $56,395
• Average annual grocery costs: $5,135
• Average annual housing costs: $10,240
• Average annual healthcare costs: $7,581

• Number of years $1 million will last: 17.7
• Average annual expenditures: $56,395
• Average annual grocery costs: $5,104
• Average annual housing costs: $11,033
• Average annual healthcare costs: $8,587

• Number of years $1 million will last: 17.7
• Average annual expenditures: $56,456
• Average annual grocery costs: $5,235
• Average annual housing costs: $9,746
• Average annual healthcare costs: $7,245

• Number of years $1 million will last: 17.6
• Average annual expenditures: $56,825
• Average annual grocery costs: $5,062
• Average annual housing costs: $11,124
• Average annual healthcare costs: $7,908

• Number of years $1 million will last: 17.6
• Average annual expenditures: $56,825
• Average annual grocery costs: $5,251
• Average annual housing costs: $10,370
• Average annual healthcare costs: $7,269

• Number of years $1 million will last: 17.6
• Average annual expenditures: $56,947
• Average annual grocery costs: $5,036
• Average annual housing costs: $10,929
• Average annual healthcare costs: $7,198

• Number of years $1 million will last: 17.5
• Average annual expenditures: $57,009
• Average annual grocery costs: $5,183
• Average annual housing costs: $10,968
• Average annual healthcare costs: $7,074

• Number of years $1 million will last: 17.3
• Average annual expenditures: $57,869
• Average annual grocery costs: $5,277
• Average annual housing costs: $10,474
• Average annual healthcare costs: $8,103

• Number of years $1 million will last: 17.2
• Average annual expenditures: $58,176
• Average annual grocery costs: $5,204
• Average annual housing costs: $11,098
• Average annual healthcare costs: $7,620

• Number of years $1 million will last: 17.1
• Average annual expenditures: $58,545
• Average annual grocery costs: $5,241
• Average annual housing costs: $11,332
• Average annual healthcare costs: $7,900

• Number of years $1 million will last: 17
• Average annual expenditures: $58,913
• Average annual grocery costs: $5,298
• Average annual housing costs: $11,033
• Average annual healthcare costs: $7,955

• Number of years $1 million will last: 16.8
• Average annual expenditures: $59,650
• Average annual grocery costs: $5,251
• Average annual housing costs: $11,306
• Average annual healthcare costs: $7,362

• Number of years $1 million will last: 16.7
• Average annual expenditures: $59,835
• Average annual grocery costs: $5,267
• Average annual housing costs: $11,981
• Average annual healthcare costs: $8,353

• Number of years $1 million will last: 16.7
• Average annual expenditures: $60,019
• Average annual grocery costs: $5,256
• Average annual housing costs: $12,709
• Average annual healthcare costs: $7,978

• Number of years $1 million will last: 16.5
• Average annual expenditures: $60,572
• Average annual grocery costs: $5,346
• Average annual housing costs: $14,035
• Average annual healthcare costs: $6,980

• Number of years $1 million will last: 16.4
• Average annual expenditures: $60,818
• Average annual grocery costs: $5,088
• Average annual housing costs: $13,294
• Average annual healthcare costs: $8,189

• Number of years $1 million will last: 16.4
• Average annual expenditures: $60,879
• Average annual grocery costs: $5,025
• Average annual housing costs: $13,983
• Average annual healthcare costs: $6,996

• Number of years $1 million will last: 16.4
• Average annual expenditures: $61,125
• Average annual grocery costs: $5,550
• Average annual housing costs: $12,878
• Average annual healthcare costs: $7,331

• Number of years $1 million will last: 16.3
• Average annual expenditures: $61,493
• Average annual grocery costs: $5,283
• Average annual housing costs: $12,956
• Average annual healthcare costs: $8,103

• Number of years $1 million will last: 15.9
• Average annual expenditures: $63,091
• Average annual grocery costs: $5,298
• Average annual housing costs: $13,879
• Average annual healthcare costs: $8,220

• Number of years $1 million will last: 15.8
• Average annual expenditures: $63,152
• Average annual grocery costs: $5,451
• Average annual housing costs: $13,268
• Average annual healthcare costs: $8,056

• Number of years $1 million will last: 15
• Average annual expenditures: $66,838
• Average annual grocery costs: $5,272
• Average annual housing costs: $16,283
• Average annual healthcare costs: $7,300

• Number of years $1 million will last: 14.9
• Average annual expenditures: $67,084
• Average annual grocery costs: $5,241
• Average annual housing costs: $14,801
• Average annual healthcare costs: $8,275

• Number of years $1 million will last: 14.8
• Average annual expenditures: $67,452
• Average annual grocery costs: $5,262
• Average annual housing costs: $16,023
• Average annual healthcare costs: $8,688

• Number of years $1 million will last: 14.6
• Average annual expenditures: $68,681
• Average annual grocery costs: $5,603
• Average annual housing costs: $15,906
• Average annual healthcare costs: $9,086

• Number of years $1 million will last: 14.4
• Average annual expenditures: $69,664
• Average annual grocery costs: $5,545
• Average annual housing costs: $15,646
• Average annual healthcare costs: $8,072

• Number of years $1 million will last: 14.3
• Average annual expenditures: $69,848
• Average annual grocery costs: $5,650
• Average annual housing costs: $16,725
• Average annual healthcare costs: $8,813

• Number of years $1 million will last: 14.3
• Average annual expenditures: $69,971
• Average annual grocery costs: $5,592
• Average annual housing costs: $15,607
• Average annual healthcare costs: $8,899

• Number of years $1 million will last: 14.3
• Average annual expenditures: $70,094
• Average annual grocery costs: $5,619
• Average annual housing costs: $16,127
• Average annual healthcare costs: $8,844

• Number of years $1 million will last: 14.3
• Average annual expenditures: $70,155
• Average annual grocery costs: $5,377
• Average annual housing costs: $18,141
• Average annual healthcare costs: $8,961

• Number of years $1 million will last: 14.2
• Average annual expenditures: $70,401
• Average annual grocery costs: $5,482
• Average annual housing costs: $18,141
• Average annual healthcare costs: $8,867

• Number of years $1 million will last: 13.7
• Average annual expenditures: $73,043
• Average annual grocery costs: $5,619
• Average annual housing costs: $19,168
• Average annual healthcare costs: $8,439

• Number of years $1 million will last: 12.9
• Average annual expenditures: $77,773
• Average annual grocery costs: $5,435
• Average annual housing costs: $23,209
• Average annual healthcare costs: $8,805

• Number of years $1 million will last: 12.8
• Average annual expenditures: $78,449
• Average annual grocery costs: $6,532
• Average annual housing costs: $16,387
• Average annual healthcare costs: $11,121

• Number of years $1 million will last: 11.9
• Average annual expenditures: $83,978
• Average annual grocery costs: $5,645
• Average annual housing costs: $23,625
• Average annual healthcare costs: $8,119

• Number of years $1 million will last: 10.8
• Average annual expenditures: $92,639
• Average annual grocery costs: $5,377
• Average annual housing costs: $30,265
• Average annual healthcare costs: $10,443

• Number of years $1 million will last: 9.1
• Average annual expenditures: $110,393
• Average annual grocery costs: $6,853
• Average annual housing costs: $38,803
• Average annual healthcare costs: $9,991

See more original studies and surveys in the GOBankingRates original research center.

Methodology: In order to find how long $1 million will last across the country, GOBankingRates 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. 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 Q3 2025 from the Missouri Economic Research and Information Center. Finally, GOBankingRates found (3) how many years $1 million will last in each state by dividing $1 million by each state’s average annual expenditures estimate. All 50 states were then ranked, with No. 1 being the state where $1 million will last the longest and No. 51 being the state where it will run out most quickly. GOBankingRates 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 was collected on Jan. 22, 2026.