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Want To Retire In One of America’s Safest Cities? $1 Million Might Not Get You Far

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Monika Salvan / Shutterstock.com

Many people looking to retire have a clear focus on how much is enough money to save for retirement. But, often, they aren’t thinking about where they should retire — or, more specifically, the safest place to spend their golden years to ensure their nest egg will last as long as possible. 

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The $1 million figure long has been the benchmark when saving for retirement. This seems like a considerable goal, but how much you need depends on where you plan to live out your golden years. And shouldn’t you pick a comfortable city where your savings have the potential to last a few decades more?

To find out how long $1 million would last you in retirement in a dependable city, GOBankingRates looked at the 50 safest cities in America as sourced from NeighborhoodScout’s 2021 Top 100 Safest Cities in America Report. Data was sourced from the midyear 2019-2020 Consumer Expenditure Survey as conducted by the Bureau of Labor Statistics, and Sperling’s Best Places.

Multiple factors were used to determine how long $1 million would last during retirement in each of these safe cities, including data regarding annual expenditures, cost of living index, Social Security benefits and crime rates.

Find out how long $1 million will last you in 50 of America’s safest cities.

Last updated: July 15, 2021

Retire Comfortably
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Wellesley, Massachusetts

  • Total crime rate per 1,000 residents: 6.5
  • Total cost of living index: 256
  • Total annual expenditures: $123,151.36
  • Annual expenditures after annual Social Security benefits are used: $105,982.60

How long $1 million will last: 9 years, 5 months and 4 days

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Harrison, New York

  • Total crime rate per 1,000 residents: 6.6
  • Total cost of living index: 232.8
  • Total annual expenditures: $111,990.77
  • Annual expenditures after annual Social Security benefits are used: $94,822.01

How long $1 million will last: 10 years, 6 months and 15 days

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Westport, Connecticut

  • Total crime rate per 1,000 residents: 6.9
  • Total cost of living index: 230.4
  • Total annual expenditures: $110,836.22
  • Annual expenditures after annual Social Security benefits are used: $93,667.46

How long $1 million will last: 10 years, 7 months and 31 days

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Newton, Massachusetts

  • Total crime rate per 1,000 residents: 6.6
  • Total cost of living index: 215.5
  • Total annual expenditures: $103,668.43
  • Annual expenditures after annual Social Security benefits are used: $86,499.67

How long $1 million will last: 11 years, 6 months and 20 days

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Retire Comfortably
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Lexington, Massachusetts

  • Total crime rate per 1,000 residents: 3.0
  • Total cost of living index: 213
  • Total annual expenditures: $102,465.78
  • Annual expenditures after annual Social Security benefits are used: $85,297.02

How long $1 million will last: 11 years, 8 months and 18 days

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Belmont, Massachusetts

  • Total crime rate per 1,000 residents: 7.2
  • Total cost of living index: 207.7
  • Total annual expenditures: $99,916.16
  • Annual expenditures after annual Social Security benefits are used: $82,747.40

How long $1 million will last: 12 years, 0 months and 28 days

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Needham, Massachusetts

  • Total crime rate per 1,000 residents: 4.7
  • Total cost of living index: 201.9
  • Total annual expenditures: $97,126.01
  • Annual expenditures after annual Social Security benefits are used: $79,957.25

How long $1 million will last: 12 years, 5 months and 29 days

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Sammamish, Washington

  • Total crime rate per 1,000 residents: 6.5
  • Total cost of living index: 199.6
  • Total annual expenditures: $96,019.58
  • Annual expenditures after annual Social Security benefits are used: $78,850.82

How long $1 million will last: 12 years, 8 months and 1 days

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Ridgewood, New Jersey

  • Total crime rate per 1,000 residents: 76.3
  • Total cost of living index: 176.3
  • Total annual expenditures: $84,810.88
  • Annual expenditures after annual Social Security benefits are used: $67,642.12

How long $1 million will last: 14 years, 9 months and 9 days

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Westfield, New Jersey

  • Total crime rate per 1,000 residents: 6.3
  • Total cost of living index: 176.3
  • Total annual expenditures: $84,810.88
  • Annual expenditures after annual Social Security benefits are used: $67,642.12

How long $1 million will last: 14 years, 9 months and 9 days

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Arlington, Massachusetts

  • Total crime rate per 1,000 residents: 4.5
  • Total cost of living index: 174.1
  • Total annual expenditures: $83,752.55
  • Annual expenditures after annual Social Security benefits are used: $66,583.79

How long $1 million will last: 15 years, 0 months and 2 days

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Milton, Massachusetts

  • Total crime rate per 1,000 residents: 2.7
  • Total cost of living index: 170.7
  • Total annual expenditures: $82,116.94
  • Annual expenditures after annual Social Security benefits are used: $64,948.18

How long $1 million will last: 15 years, 4 month and 20 days

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Long Beach, New York

  • Total crime rate per 1,000 residents: 2.5
  • Total cost of living index: 169.3
  • Total annual expenditures: $81,443.46
  • Annual expenditures after annual Social Security benefits are used: $64,274.70

How long $1 million will last: 15 years, 6 months and 18 days

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Rancho Santa Margarita, California

  • Total crime rate per 1,000 residents: 6.9
  • Total cost of living index: 162
  • Total annual expenditures: $77,931.72
  • Annual expenditures after annual Social Security benefits are used: $60,762.96

How long $1 million will last: 16 years, 5 month and 10 days

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Moorpark, California

  • Total crime rate per 1,000 residents: 7.2
  • Total cost of living index: 161.7
  • Total annual expenditures: $77,787.40
  • Annual expenditures after annual Social Security benefits are used: $60,618.64

How long $1 million will last: 16 years, 5 months and 25 days

Pictured: Glendale, California

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Andover, Massachusetts

  • Total crime rate per 1,000 residents: 6.1
  • Total cost of living index: 156.8
  • Total annual expenditures: $75,430.21
  • Annual expenditures after annual Social Security benefits are used: $58,261.45

How long $1 million will last: 17 years, 1 months and 23 days

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Reading, Massachusetts

  • Total crime rate per 1,000 residents: 4.8
  • Total cost of living index: 153.2
  • Total annual expenditures: $73,698.39
  • Annual expenditures after annual Social Security benefits are used: $56,529.63

How long $1 million will last: 17 years, 8 months and 3 days

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Cliffside Park, New Jersey

  • Total crime rate per 1,000 residents: 4.7
  • Total cost of living index: 148.9
  • Total annual expenditures: $71,629.83
  • Annual expenditures after annual Social Security benefits are used: $54,461.07

How long $1 million will last: 18 years, 4 months and 7 days

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Colleyville, Texas

  • Total crime rate per 1,000 residents: 6.4
  • Total cost of living index: 143.5
  • Total annual expenditures: $69,032.11
  • Annual expenditures after annual Social Security benefits are used: $51,863.35

How long $1 million will last: 19 years, 3 months and 7 days

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North Andover, Massachusetts

  • Total crime rate per 1,000 residents: 6.8
  • Total cost of living index: 141.2
  • Total annual expenditures: $67,925.67
  • Annual expenditures after annual Social Security benefits are used: $50,756.91

How long $1 million will last: 19 years, 8 months and 8 days

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Marshfield, Massachusetts

  • Total crime rate per 1,000 residents: 4.0
  • Total cost of living index: 139.6
  • Total annual expenditures: $67,155.98
  • Annual expenditures after annual Social Security benefits are used: $49,987.22

How long $1 million will last: 19 years, 11 months and 27 days

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Franklin, Massachusetts

  • Total crime rate per 1,000 residents: 1.9
  • Total cost of living index: 136.9
  • Total annual expenditures: $65,857.11
  • Annual expenditures after annual Social Security benefits are used: $48,688.35

How long $1 million will last: 20 years, 6 months and 9 days

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Weston, Florida

  • Total crime rate per 1,000 residents: 5.8
  • Total cost of living index: 136.4
  • Total annual expenditures: $65,616.58
  • Annual expenditures after annual Social Security benefits are used: $48,447.82

How long $1 million will last: 20 years, 7 months and 15 days

Pictured: Fort Lauderdale, Florida

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Billerica, Massachusetts

  • Total crime rate per 1,000 residents: 4.5
  • Total cost of living index: 133.3
  • Total annual expenditures: $64,125.30
  • Annual expenditures after annual Social Security benefits are used: $46,956.54

How long $1 million will last: 21 years, 3 months and 12 days

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Bergenfield, New Jersey

  • Total crime rate per 1,000 residents: 3.4
  • Total cost of living index: 132.4
  • Total annual expenditures: $63,692.34
  • Annual expenditures after annual Social Security benefits are used: $46,523.58

How long $1 million will last: 21 years, 5months and 23 days

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Beverly, Massachusetts

  • Total crime rate per 1,000 residents: 6.4
  • Total cost of living index: 131.7
  • Total annual expenditures: $663,355.60
  • Annual expenditures after annual Social Security benefits are used: $46,186.84

How long $1 million will last: 21 years, 7 months and 19 days

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Shrewsbury, Massachusetts

  • Total crime rate per 1,000 residents: 3.3
  • Total cost of living index: 128.6
  • Total annual expenditures: $61,864.32
  • Annual expenditures after annual Social Security benefits are used: $44,695.56

How long $1 million will last: 22 years, 4 months and 10 days

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Bridgewater, Massachusetts

  • Total crime rate per 1,000 residents: 6.7
  • Total cost of living index: 128.3
  • Total annual expenditures: $61,720.00
  • Annual expenditures after annual Social Security benefits are used: $44,551.24

How long $1 million will last: 22 years, 5 months and 5 days

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Zionsville, Indiana

  • Total crime rate per 1,000 residents: 2.8
  • Total cost of living index: 122.6
  • Total annual expenditures: $58,977.96
  • Annual expenditures after annual Social Security benefits are used: $41,809.20

How long $1 million will last: 23 years, 10 months and 25 days

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Dracut, Massachusetts

  • Total crime rate per 1,000 residents: 5.6
  • Total cost of living index: 119.9
  • Total annual expenditures: $57,679.09
  • Annual expenditures after annual Social Security benefits are used: $40,510.33

How long $1 million will last: 24 years, 7 months and 31 days

Pictured: Lowell, Massachusetts

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Rahway, New Jersey

  • Total crime rate per 1,000 residents: 6.4
  • Total cost of living index: 118.1
  • Total annual expenditures: $56,813.19
  • Annual expenditures after annual Social Security benefits are used: $39,644.43

How long $1 million will last: 25 years, 2 months and 15 days

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Londonderry, New Hampshire

  • Total crime rate per 1,000 residents: 7.2
  • Total cost of living index: 117.9
  • Total annual expenditures: $56,716.97
  • Annual expenditures after annual Social Security benefits are used: $39,548.21

How long $1 million will last: 245 years, 3 months and 7 days

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Simsbury, Connecticut

  • Total crime rate per 1,000 residents: 5.8
  • Total cost of living index: 117.8
  • Total annual expenditures: $56,668.87
  • Annual expenditures after annual Social Security benefits are used: $39,500.11

How long $1 million will last: 25 years, 3 months and 18 days

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Rochester Hills, Michigan

  • Total crime rate per 1,000 residents: 6.8
  • Total cost of living index: 116.5
  • Total annual expenditures: $56,043.49
  • Annual expenditures after annual Social Security benefits are used: $38,874.73

How long $1 million will last: 25 years, 8 months and 14 days

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Syracuse, Utah

  • Total crime rate per 1,000 residents: 7.0
  • Total cost of living index: 115.9
  • Total annual expenditures: $55,754.85
  • Annual expenditures after annual Social Security benefits are used: $38,586.09

How long $1 million will last: 25 years, 10 months and 23 days

Pictured: Salt Lake City, Utah

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Bartlett, Illinois

  • Total crime rate per 1,000 residents: 5.3
  • Total cost of living index: 115.3
  • Total annual expenditures: $55,466.22
  • Annual expenditures after annual Social Security benefits are used: $38,297.46

How long $1 million will last: 26 years, 1 month and 2 days

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Muskego, Wisconsin

  • Total crime rate per 1,000 residents: 3.5
  • Total cost of living index: 113.8
  • Total annual expenditures: $54,744.63
  • Annual expenditures after annual Social Security benefits are used: $37,575.87

How long $1 million will last: 26 years, 7 months and 4 days

Pictured: Milwaukee, Wisconsin

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Rosemount, Minnesota

  • Total crime rate per 1,000 residents: 6.6
  • Total cost of living index: 111.7
  • Total annual expenditures: $53,734.40
  • Annual expenditures after annual Social Security benefits are used: $36,565.64

How long $1 million will last: 27 years, 3 months and 30 days

Pictured: St. Paul

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Wallingford, Connecticut

  • Total crime rate per 1,000 residents: 6.9
  • Total cost of living index: 110.1
  • Total annual expenditures: $52,964.71
  • Annual expenditures after annual Social Security benefits are used: $35,795.95

How long $1 million will last: 27 years, 10 months and 30 days

Pictured: Hartford, Connecticut

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Friendswood, Texas

  • Total crime rate per 1,000 residents: 7.2
  • Total cost of living index: 109
  • Total annual expenditures: $52,435.54
  • Annual expenditures after annual Social Security benefits are used: $35,266.78

How long $1 million will last: 28 years, 4 months and 1 day

Pictured: Houston, Texas

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Palatine, Illinois

  • Total crime rate per 1,000 residents: 5.5
  • Total cost of living index: 107.6
  • Total annual expenditures: $51,762.06
  • Annual expenditures after annual Social Security benefits are used: $34,593.30

How long $1 million will last: 28 years, 10 months and 19 days

Pictured: Chicago, Illinois

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Lake in the Hills, Illinois

  • Total crime rate per 1,000 residents: 4.3
  • Total cost of living index: 107
  • Total annual expenditures: $51,473.42
  • Annual expenditures after annual Social Security benefits are used: $34,304.66

How long $1 million will last: 29 years, 1 month and 15 days

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Mason, Ohio

  • Total crime rate per 1,000 residents: 6.7
  • Total cost of living index: 104.4
  • Total annual expenditures: $50,222.66
  • Annual expenditures after annual Social Security benefits are used: $33,053.90

How long $1 million will last: 30 years, 2 months and 25 days

Pictured: Cincinnati, Ohio

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Plainfield, Illinois

  • Total crime rate per 1,000 residents: 6.9
  • Total cost of living index: 101.3
  • Total annual expenditures: $48,731.38
  • Annual expenditures after annual Social Security benefits are used: $31,562.62

How long $1 million will last: 31 years, 7 months and 29 days

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Florence, Arizona

  • Total crime rate per 1,000 residents: 4.3
  • Total cost of living index: 95.9
  • Total annual expenditures: $46,133.65
  • Annual expenditures after annual Social Security benefits are used: $28,964.89

How long $1 million will last: 34 years, 6 months and 1 day

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North Royalton, Ohio

  • Total crime rate per 1,000 residents: 4.6
  • Total cost of living index: 94.5
  • Total annual expenditures: $45,460.17
  • Annual expenditures after annual Social Security benefits are used: $28,291.41

How long $1 million will last: 35 years 3 months and 27 days

Pictured: Columbus, Ohio

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Caledonia, Wisconsin

  • Total crime rate per 1,000 residents: 5.8
  • Total cost of living index: 92.9
  • Total annual expenditures: $44,690.47
  • Annual expenditures after annual Social Security benefits are used: $27,521.71

How long $1 million will last: 36 years, 3 months and 22 days

Pictured: Milwaukee, Wisconsin

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Independence, Kentucky

  • Total crime rate per 1,000 residents: 4.8
  • Total cost of living index: 92
  • Total annual expenditures: $44,257.52
  • Annual expenditures after annual Social Security benefits are used: $27,088.76

How long $1 million will last: 36 years, 10 months and 20 days

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Rexburg, Idaho

  • Total crime rate per 1,000 residents: 4.3
  • Total cost of living index: 91.6
  • Total annual expenditures: $44,065.10
  • Annual expenditures after annual Social Security benefits are used: $26,896.34

How long $1 million will last: 37 years, 1 month and 24 days

Cory C. Sitko / Flickr.com

Brunswick, Ohio

  • Total crime rate per 1,000 residents: 5.9
  • Total cost of living index: 90.4
  • Total annual expenditures: $43,487.82
  • Annual expenditures after annual Social Security benefits are used: $26,319.06

How long $1 million will last: 37 years, 11 months and 19 days

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North Ridgeville

  • Total crime rate per 1,000 residents: 3.6
  • Total cost of living index: 88.7
  • Total annual expenditures: $42,670.02
  • Annual expenditures after annual Social Security benefits are used: $25,501.26

How long $1 million will last: 39 years, 2 months and 9 days

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Alexandria Bova contributed to the reporting for this article. 

Methodology: GOBankingRates looked at the 50 safest cities in America as sourced from NeighborhoodScout’s 2021 Top 100 Safest Cities in America Report, in order to find out how long $1 million will last you in retirement in America’s safest cities. GOBankingRates determined the amount of time that $1 million will last during retirement in each city by multiplying the annual expenditures for someone 65 and older, sourced from the midyear 2019-2020 Consumer Expenditure Survey as conducted by the Bureau of Labor Statistics, by each city’s overall cost of living index as sourced from Sperling’s Best Places. This Annual Expenditure figure was then reduced by the annual Social Security Benefits a retiree would receive based on the Social Security Administration’s Monthly Statistical Snapshot, May 2021. Once the final annual expenditure minus Social Security benefits total was found, GOBankingRates took this figure and divided it by 1,000,000 to get the years, months and days that a million would last in retirement for each city. Each city’s crime rate (per 1,000) residents was sourced from NeighborhoodScout. All data is up to date and compiled on June 30, 2021.