Money

Mapped: How Far $1 Million Gets You in Retirement, by U.S State

Published

4 weeks ago

February 19, 2025

Bruno Venditti

Graphics/Design:

Miranda Smith

See this visualization first on the Voronoi app.

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How Far Can You Get With $1 Million for Retirement?

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Becoming a millionaire has long been a dream for people worldwide. In most cases, the million-dollar mark is seen as a symbol of financial success and prosperity. However, with the rising costs of housing, healthcare, and food, is $1 million really enough to stop working?

This graphic illustrates how long $1 million, combined with Social Security benefits, would last in each U.S. state, according to data from GOBankingRates. The analysis includes groceries, healthcare, housing, utilities, transportation, and miscellaneous expenses.

Methodology

National average expenditure costs for retirees come from the Bureau of Labor Statistics Consumer Expenditure Survey. Home values as of November 2024 were sourced from the Zillow Home Value Index, with mortgage costs calculated using a 10% down payment and the latest 30-year fixed mortgage rate from Federal Reserve data. Social Security benefits were sourced from the Social Security Administration’s November 2024 snapshot.

Key Takeaways

In three states—Massachusetts (19 years), California (16 years), and Hawaii (12 years)—$1 million would be completely spent in less than 20 years.

State	Annual Cost of Living After Benefits (USD)	How Long $1M + Social Security Lasts (Years)
Hawaii	80K	12
California	61K	16
Massachusetts	52K	19
Washington	46K	22
New Jersey	41K	24
Colorado	40K	25
New Hampshire	38K	26
Utah	38K	26
Oregon	37K	27
Rhode Island	37K	27
Alaska	36K	28
Connecticut	34K	29
New York	35K	29
Idaho	32K	31
Nevada	32K	31
Arizona	31K	32
Maryland	31K	32
Montana	32K	32
Maine	30K	33
Vermont	30K	33
Florida	29K	34
Virginia	29K	35
Delaware	28K	36
Wyoming	25K	40
Minnesota	25K	41
Georgia	23K	43
North Carolina	23K	43
Wisconsin	22K	45
South Dakota	21K	47
Texas	21K	47
New Mexico	21K	48
South Carolina	21K	49
Tennessee	20K	49
Illinois	20K	50
North Dakota	19K	53
Pennsylvania	19K	53
Nebraska	18K	55
Indiana	17K	59
Michigan	17K	60
Missouri	16K	61
Ohio	16K	62
Kansas	15K	65
Iowa	15K	66
Alabama	15K	67
Kentucky	14K	69
Oklahoma	14K	71
Arkansas	13K	77
Louisiana	13K	77
Mississippi	11K	87
West Virginia	11K	89

By contrast, in five states—Oklahoma (71 years), Louisiana (76 years), Arkansas (76 years), Mississippi (87 years), and West Virginia (88 years)—the same amount could last over 70 years.

In these states, a person would need less than $1,200 per month (after Social Security) to cover expenses.

In 36 states, $1 million, combined with Social Security, would be enough to fund at least 30 years of retirement.

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