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How Long $250K Will Last in Retirement in Each State

August 6, 2025

6 min Read

Written by J. Arky

Edited by Ashleigh Ray

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The amount you need in retirement depends on numerous factors, including where you live and what sort of expenses you have.

Some people have a lot of money in their golden years — thanks to pensions or well-aimed retirement investments — but many more have to scrape by. The median retirement savings balance is around $200,000 in 2025, according to the Federal Reserve’s Survey of Consumer Finance.

To help you plan for your retirement, GOBankingRates set out to find out how long $250,000 will last in every state — both with and without Social Security (average annual Social Security across America is $23,150).

Using data from the Bureau of Labor Statistics 2023 Consumer Expenditure Survey and the Social Security Administration’s January 2025 data, GOBankingRates looked at the average annual cost of groceries, housing, utilities, transportation and healthcare for people 65 and older in every state.

Take a look at how long $250,000 will last in every state, ranked from the shortest amount of time to the longest.

Hawaii

With Social Security: 2.8 years
Without Social Security: 2.23 years
Annual expenditure: $112,303

Massachusetts

With Social Security: 3.87 years
Without Social Security: 2.85 years
Annual expenditure: $87,667

California

With Social Security: 3.92 years
Without Social Security: 2.87 years
Annual expenditure: $87,006

Alaska

With Social Security: 4.88 years
Without Social Security: 3.36 years
Annual expenditure: $74,388

New York

With Social Security: 4.91years
Without Social Security: 3.37 years
Annual expenditure: $74,087

Maryland

With Social Security: 5.42 years
Without Social Security: 3.61 years
Annual expenditure: $69,280

New Jersey

With Social Security: 5.47 years
Without Social Security: 3.63 years
Annual expenditure: $68,860

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Vermont

With Social Security: 5.48 years
Without Social Security: 3.64 years
Annual expenditure: $68,740

Washington

With Social Security: 5.50 years
Without Social Security: 3.64 years
Annual expenditure: $68,619

New Hampshire

With Social Security: 5.62 years
Without Social Security: 3.70 years
Annual expenditure: $67,658

Connecticut

With Social Security: 5.64 years
Without Social Security: 3.70 years
Annual expenditure: $67,478

Rhode Island

With Social Security: 5.65 years
Without Social Security: 3.71 years
Annual expenditure: $67,418

Maine

With Social Security: 5.66 years
Without Social Security: 3.71 years
Annual expenditure: $67,358

Oregon

With Social Security: 5.66 years
Without Social Security: 3.71 years
Annual expenditure: $67,297

Arizona

With Social Security: 5.70 years
Without Social Security: 3.73 years
Annual expenditure: $66,997

Utah

With Social Security: 6.27 years
Without Social Security: 3.97 years
Annual expenditure: $63,031

Florida

With Social Security: 6.47 years
Without Social Security: 4.05 years
Annual expenditure: $61,769

Colorado

With Social Security: 6.56 years
Without Social Security: 4.08 years
Annual expenditure: $61,289

Idaho

With Social Security: 6.56 years
Without Social Security: 4.08 years
Annual expenditure: $61,289

Nevada

With Social Security: 6.63 years
Without Social Security: 4.11 years
Annual expenditure: $60,868

Delaware

With Social Security: 6.68 years
Without Social Security: 4.13 years
Annual expenditure: $60,568

Virginia

With Social Security: 6.69 years
Without Social Security: 4.13 years
Annual expenditure: $60,508

North Carolina

With Social Security: 7.02 years
Without Social Security: 4.25 years
Annual expenditure: $58,765

Wisconsin

With Social Security: 7.12 years
Without Social Security: 4.29 years
Annual expenditure: $58,284

South Carolina

With Social Security: 7.25 years
Without Social Security: 4.34 years
Annual expenditure: $57,623

Wyoming

With Social Security: 7.30 years
Without Social Security: 4.36 years
Annual expenditure: $57,383

Minnesota

With Social Security: 7.35 years
Without Social Security: 4.38 years
Annual expenditure: $57,143

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Pennsylvania

With Social Security: 7.35 years
Without Social Security: 4.38 years
Annual expenditure: $57,143

Montana

With Social Security: 7.38 years
Without Social Security: 4.38 years
Annual expenditure: $57,023

Illinois

With Social Security: 7.45 years
Without Social Security: 4.41 years
Annual expenditure: $56,722

Ohio

With Social Security: 7.47 years
Without Social Security: 4.42 years
Annual expenditure: $56,602

New Mexico

With Social Security: 7.60 years
Without Social Security: 4.46 years
Annual expenditure: $56,061

Nebraska

With Social Security: 7.62 years
Without Social Security: 4.47 years
Annual expenditure: $55,941

Kentucky

With Social Security: 7.64 years
Without Social Security: 4.47 years
Annual expenditure: $55,881

Texas

With Social Security: 7.68 years
Without Social Security: 4.49 years
Annual expenditure: $55,701

Louisiana

With Social Security: 7.75 years
Without Social Security: 4.51 years
Annual expenditure: $55,400

South Dakota

With Social Security: 7.75 years
Without Social Security: 4.51 years
Annual expenditure: $55,400

North Dakota

With Social Security: 7.80 years
Without Social Security: 4.53 years
Annual expenditure: $55,220

Georgia

With Social Security: 7.88 years
Without Social Security: 4.56 years
Annual expenditure: $54,859

Indiana

With Social Security: 8.01 years
Without Social Security: 4.60 years
Annual expenditure: $54,379

Tennessee

With Social Security: 8.01 years
Without Social Security: 4.60 years
Annual expenditure: $54,379

Michigan

With Social Security: 8.02 years
Without Social Security: 4.60 years
Annual expenditure: $54,319

Iowa

With Social Security: 8.13 years
Without Social Security: 4.64 years
Annual expenditure: $53,898

Arkansas

With Social Security: 8.29 years
Without Social Security: 4.69 years
Annual expenditure: $53,297

Missouri

With Social Security: 8.29 years
Without Social Security: 4.69 years
Annual expenditure: $53,297

Alabama

With Social Security: 8.41 years
Without Social Security: 4.73 years
Annual expenditure: $52,877

Mississippi

With Social Security: 8.43 years
Without Social Security: 4.73 years
Annual expenditure: $52,816

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Kansas

With Social Security: 8.58 years
Without Social Security: 4.78 years
Annual expenditure: $52,276

Oklahoma

With Social Security: 8.82 years
Without Social Security: 4.85 years
Annual expenditure: $51,495

West Virginia

With Social Security: 9.13 years
Without Social Security: 4.95 years
Annual expenditure: $50,533

Methodology: In order to find how long $250,000 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 as 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 score for 2024 from the Missouri Economic Research and Information Center. Finally, GOBankingRates found (3) how many years $250,000 will last in each state by dividing $250,000 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 17, 2025.

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