How Far $1 Million Really Goes in Retirement by State

A GobankingRates analysis for 2026 finds that, based on average retiree expenses, $1 million won’t last 20 years in any U.S. state. The longest-lasting affordable states are Oklahoma and Mississippi at about 19 years, while expensive states like Hawaii, Massachusetts, and California can deplete the funds in roughly 9–12 years. The study’s estimates exclude investment returns and other income, underscoring how cost of living by state drives retirement longevity and suggesting the Southeast or Great Plains may offer more breathing room.