If Social Security Runs Out, How Long Will $2 Million Last on the West Coast?

Will Social Security benefits run out in your lifetime? A new GOBankingRates study analyzed this “what if?” scenario and how it might impact the time horizon for $2 million in retirement savings.

Given that these states have a high cost of living, this savings only allows retirees on the West Coast (and in states in the Pacific region, like Alaska and Hawaii) to cover up to 30 years in retirement on the high end, and as few as 18 years on the low end.

See how long $2 million stretches in retirement savings in these West Coast states.

• Annual expenditures: $74,147  
• Years $2 million will last: 27
• National average: 33.3 years

• Annual expenditures: $86,946
• Years $2 million will last: 23
• National average: 33.3 years

• Annual expenditures: $110,921
• Years $2 million will last: 18
• National average: 33.3 years

• Annual expenditures: $66,096
• Years $2 million will last: 30.3
• National average: 33.3 years

• Annual expenditures: $68,259
• Years $2 million will last: 29.3
• 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.