If Social Security Runs Out, How Long Will $2 Million Last in the South?

In a worst-case scenario in which Social Security runs out, retirees in the South are in a financially fortunate position. A savings of $2 million will last at least 30 years, if not longer, to fund retirement in every Southern state. 

This data was pulled from a new GOBankingRates study that analyzed how long $2 million in retirement savings could last in every U.S. state. A full methodology is available at the end of this article.

Here’s how long $2 million lasts in the South, should Social Security run out.

• Annual expenditures: $53,357
• Years $2 million will last: 37.5
• National average: 33.3 years

• Annual expenditures: $53,477
• Years $2 million will last: 37.4
• National average: 33.3 years

• Annual expenditures: $60,207
• Years $2 million will last: 33.2
• National average: 33.3 years

• Annual expenditures: $61,529
• Years $2 million will last: 32.5
• National average: 33.3 years

• Annual expenditures: $54,980
• Years $2 million will last: 36.4
• National average: 33.3 years

• Annual expenditures: $55,821
• Years $2 million will last: 35.8
• National average: 33.3 years

• Annual expenditures: $56,181
• Years $2 million will last: 35.6
• National average: 33.3 years

• Annual expenditures: $59,426
• Years $2 million will last: 33.7
• National average: 33.3 years

• Annual expenditures: $52,576  
• Years $2 million will last: 38
• National average: 33.3 years

• Annual expenditures: $58,645
• Years $2 million will last: 34.1
• National average: 33.3 years

• Annual expenditures: $52,816
• Years $2 million will last: 37.9
• National average: 33.3 years

• Annual expenditures: $57,203
• Years $2 million will last: 35
• National average: 33.3 years

• Annual expenditures: $54,078
• Years $2 million will last: 37
• National average: 33.3 years

• Annual expenditures: $55,641
• Years $2 million will last: 35.9
• National average: 33.3 years

• Annual expenditures: $60,387  
• Years $2 million will last: 33.1
• National average: 33.3 years

• Annual expenditures: $50,954
• Years $2 million will last: 39.3
• National average: 33.3 years

Methodology: GOBankingRates found the national average annual expenditures for people 65 and older, sourced from the Bureau of Labor Statistics’ 2023 Consumer Expenditure Survey 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 $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 data was collected on and is up to date as of March 7, 2025.