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

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.

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

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

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

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

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

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

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

• 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

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

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

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

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

• 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

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

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

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

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

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

Read More: 8 States To Move to If You Don’t Want To Pay Taxes on Social Security

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

• 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.