You Won’t Believe How Far a $1 Million Nest Egg Goes in These Countries

If you’ve managed to save $1 million for retirement, congratulations. Based on the average annual nondiscretionary expenditures in the United States for a single person, that money (paired with Social Security) could last you for more than 30 years in some states.

As impressive as that is, there are many other countries where that $1 million can last much longer — some of which might surprise you. Japan, for example, has a reputation as a high-cost country, but your $1 million could last you over 60 years there.

Fancy vast open spaces, stunning landscapes and high adventure? Consider New Zealand, where your $1 million could stretch for 40 years.

Thinking of retiring on a beach? Your $1 million would last 62 years in Jamaica and 55 in Panama or Costa Rica. All offer pristine beaches and low costs — the dream combination for many retirees.

Whether you’ve already retired with $1 million or that’s the goal you’re working toward, you’ll find plenty of desirable countries where your money can last through your golden years.

• How long $1 million will last: 86.75 years
• Annual cost of living: $11,528

• How long $1 million will last: 70.92 years
• Annual cost of living: $14,101

• How long $1 million will last: 63.09 years
• Annual cost of living: $15,849

• How long $1 million will last: 61.76 years
• Annual cost of living: $16,192

• How long $1 million will last: 60.78 years
• Annual cost of living: $16,452

• How long $1 million will last: 60.65 years
• Annual cost of living: $16,487

• How long $1 million will last: 55.95 years
• Annual cost of living: $17,872

• How long $1 million will last: 55.23 years
• Annual cost of living: $18,105

• How long $1 million will last: 55.22 years
• Annual cost of living: $18,109

• How long $1 million will last: 54.86 years
• Annual cost of living: $18,228

• How long $1 million will last: 53.25 years
• Annual cost of living: $18,780

• How long $1 million will last: 52.61 years
• Annual cost of living: $19,008

• How long $1 million will last: 51.63 years
• Annual cost of living: $19,370

• How long $1 million will last: 50.52 years
• Annual cost of living: $19,793

• How long $1 million will last: 50.35 years
• Annual cost of living: $19,860

• How long $1 million will last: 48.99 years
• Annual cost of living: $20,414

• How long $1 million will last: 46.69 years
• Annual cost of living: $21,419

• How long $1 million will last: 46.59 years
• Annual cost of living: $21,465

• How long $1 million will last: 46.54 years
• Annual cost of living: $21,489

• How long $1 million will last: 46.05 years
• Annual cost of living: $21,717

• Sweden: $21,850 per year, 45.77 years
• Belgium: $22,363, 44.72
• Cyprus: $22,566, 44.31
• Germany: $23,322, 42.88
• Austria: $24,378, 41.02
• New Zealand: $24,754, 40.4

Methodology: GOBankingRates analyzed the cost of living from countries around the world in order to find out how far $1 million goes. The average cost of living was sourced from Numbeo’s cost-of-living indexes. Numbeo’s cost of living with rent was also sourced and the years to draw down $1 million in savings were calculated. The countries were sorted to show how long someone could live on $1 million. All data was collected on and is up to date as of Oct. 14, 2024.