Figuring out how much money you need for retirement can be overwhelming, and it varies significantly depending on where you live in the United States. Factors such as rent, groceries, utilities and healthcare costs can all impact how much you need to live comfortably.
So, if you have $250,000 in savings plus an average Social Security check (which the Social Security Administration estimates is $1,907 in 2024), how long can you live comfortably?
In some states, like Hawaii, that money would only last 2 1/2 years, which is the least bang for your buck. That’s followed by other states like Alaska, California, Massachusetts and New York, which would allow that money to last a little over 3 1/2 years. On the other hand, states like West Virginia, Alabama and Kansas would make it easy to stretch out that money over five years!
Of course, you’ll need to remember that the amount of money you need to retire could vary depending on your lifestyle and what you plan to do during your retirement. Some may want to live frugally, which would allow that money to last upwards of eight years, while others may plan to take big trips or buy their dream homes, which could significantly decrease how long $250,000 in savings plus Social Security payments would last.
Below, GOBankingRates compared the average expenses of each state to this number to show you how far your money can go by state so you can get an idea of what to expect come retirement.
Alabama
- Yearly average spending: $50,995
- How far $250,000 in savings and Social Security would go: 8.9 years
Alaska
- Yearly average spending: $73,082
- How far $250,000 in savings and Social Security would go: 4.9 years
Arizona
- Yearly average spending: $63,600
- How far $250,000 in savings and Social Security would go: 6.1 years
Arkansas
- Yearly average spending: $51,169
- How far $250,000 in savings and Social Security would go: 8.8 years
California
- Yearly average spending: $78,864
- How far $250,000 in savings and Social Security would go: 4.4 years
Colorado
- Yearly average spending: $61,807
- How far $250,000 in savings and Social Security would go: 6.4 years
Connecticut
- Yearly average spending: $65,855
- How far $250,000 in savings and Social Security would go: 5.8 years
Delaware
- Yearly average spending: $58,281
- How far $250,000 in savings and Social Security would go: 7.0 years
Florida
- Yearly average spending: $58,396
- How far $250,000 in savings and Social Security would go: 7.0 years
Georgia
- Yearly average spending: $52,557
- How far $250,000 in savings and Social Security would go: 8.4 years
Hawaii
- Yearly average spending: $103,610
- How far $250,000 in savings and Social Security would go: 3.0 years
Idaho
- Yearly average spending: $57,240
- How far $250,000 in savings and Social Security would go: 7.2 years
Illinois
- Yearly average spending: $53,077
- How far $250,000 in savings and Social Security would go: 8.1 years
Indiana
- Yearly average spending: $52,672
- How far $250,000 in savings and Social Security would go: 8.3 years
Iowa
- Yearly average spending: $51,978
- How far $250,000 in savings and Social Security would go: 8.5 years
Kansas
- Yearly average spending: $50,533
- How far $250,000 in savings and Social Security would go: 9.0 years
Kentucky
- Yearly average spending: $53,886
- How far $250,000 in savings and Social Security would go: 8.0 years
Louisiana
- Yearly average spending: $52,441
- How far $250,000 in savings and Social Security would go: 8.4 years
Maine
- Yearly average spending: $64,005
- How far $250,000 in savings and Social Security would go: 6.0 years
Maryland
- Yearly average spending: $66,375
- How far $250,000 in savings and Social Security would go: 5.7 years
Massachusetts
- Yearly average spending: $85,571
- How far $250,000 in savings and Social Security would go: 3.9 years
Michigan
- Yearly average spending: $52,614
- How far $250,000 in savings and Social Security would go: 8.4 years
Minnesota
- Yearly average spending: $54,580
- How far $250,000 in savings and Social Security would go: 7.8 years
Mississippi
- Yearly average spending: $50,128
- How far $250,000 in savings and Social Security would go: 9.1 years
Missouri
- Yearly average spending: $51,053
- How far $250,000 in savings and Social Security would go: 8.8 years
Montana
- Yearly average spending: $59,610
- How far $250,000 in savings and Social Security would go: 6.8 years
Nebraska
- Yearly average spending: $52,614
- How far $250,000 in savings and Social Security would go: 8.4 years
Nevada
- Yearly average spending: $58,454
- How far $250,000 in savings and Social Security would go: 7.0 years
New Hampshire
- Yearly average spending: $66,838
- How far $250,000 in savings and Social Security would go: 5.6 years
New Jersey
- Yearly average spending: $63,773
- How far $250,000 in savings and Social Security would go: 6.1 years
New Mexico
- Yearly average spending: $54,291
- How far $250,000 in savings and Social Security would go: 7.9 years
New York
- Yearly average spending: $73,140
- How far $250,000 in savings and Social Security would go: 4.9 years
North Carolina
- Yearly average spending: $55,621
- How far $250,000 in savings and Social Security would go: 7.6 years
North Dakota
- Yearly average spending: $54,522
- How far $250,000 in savings and Social Security would go: 7.9 years
Ohio
- Yearly average spending: $53,308
- How far $250,000 in savings and Social Security would go: 8.2 years
Oklahoma
- Yearly average spending: $50,186
- How far $250,000 in savings and Social Security would go: 9.1 years
Oregon
- Yearly average spending: $66,317
- How far $250,000 in savings and Social Security would go: 5.7 years
Pennsylvania
- Yearly average spending: $54,811
- How far $250,000 in savings and Social Security would go: 7.8 years
Rhode Island
- Yearly average spending: $64,756
- How far $250,000 in savings and Social Security would go: 5.9 years
South Carolina
- Yearly average spending: $54,522
- How far $250,000 in savings and Social Security would go: 7.9 years
South Dakota
- Yearly average spending: $53,077
- How far $250,000 in savings and Social Security would go: 8.2 years
Tennessee
- Yearly average spending: $52,267
- How far $250,000 in savings and Social Security would go: 8.5 years
Texas
- Yearly average spending: $53,771
- How far $250,000 in savings and Social Security would go: 8.0 years
Utah
- Yearly average spending: $60,420
- How far $250,000 in savings and Social Security would go: 6.6 years
Vermont
- Yearly average spending: $66,433
- How far $250,000 in savings and Social Security would go: 5.7 years
Virginia
- Yearly average spending: $58,627
- How far $250,000 in savings and Social Security would go: 6.9 years
Washington
- Yearly average spending: $66,895
- How far $250,000 in savings and Social Security would go: 5.6 years
West Virginia
- Yearly average spending: $49,261
- How far $250,000 in savings and Social Security would go: 9.4 years
Wisconsin
- Yearly average spending: $55,158
- How far $250,000 in savings and Social Security would go: 7.7 years
Wyoming
- Yearly average spending: $53,886
- How far $250,000 in savings and Social Security would go: 8.0 years