Remember the days when you could hit a $1 million jackpot, quit your job, and be set for life? That figure simply doesn't last as long these days, including one's retirement years— though some states give you more bang for your post-career bucks than others. GOBankingRates looked at housing costs, health care price tags, and other expenses in all 50 states to come up with total annual expenditures in one's golden years, then crunched the numbers to see where a cool mil would last the longest. In West Virginia, you'll get nearly a quarter century out of that kitty, while in Hawaii, you're lucky if you make it eight years. The top and bottom 10 states:
States where $1M will last longest
- West Virginia; 24.5 years
- Mississippi; 23.3 years
- Arkansas; 22.6 years
- Oklahoma; 22.5 years
- Alabama; 22.1 years
- Louisiana; 22.1 years
- Kansas; 21.6 years
- Iowa; 21.6 years
- Kentucky; 21.4 years
- Michigan; 21 years
States where $1M won't last as long
- New Hampshire; 13.6 years
- Utah; 13.6 years
- Colorado; 13.4 years
- Oregon; 13.2 years
- New York; 13.1 years
- New Jersey; 12.5 years
- Washington; 12 years
- Massachusetts; 10 years
- California; 9.2 years
- Hawaii; 7.3 years
See how long your money will last in other states
here. (Folks in
these states pay the most for housing.)