"Maximizing $1M Retirement Savings: The Longevity Across U.S. States Revealed"

A GOBankingRates study using U.S. Bureau of Labor Statistics and Missouri Economic Research and Information Center data reveals that $1 million in retirement savings will last the longest in states like Mississippi and Oklahoma, over 21 years, while it will deplete much faster, around 10 to 15 years, in high-cost states such as Hawaii, New York, and California. The study highlights significant differences in living expenses, particularly housing costs, across the states. Fidelity suggests that the ideal retirement savings should be based on multiples of one's annual salary by certain ages, rather than a fixed dollar amount, to account for varying costs of living in different regions.