Retirement planning isn’t just about saving—it’s also about choosing the right place to spend those hard-earned dollars. A new study highlights the vast differences in how long $1.5 million, supplemented by Social Security, can sustain retirees across the U.S. The results are striking, with some states offering more than double the retirement years compared to others.

Best States for Stretching Your Retirement Savings

If you want your retirement savings to last, consider settling in states with a lower cost of living.

• West Virginia offers the longest financial security, where $1.5M can stretch for 54 years.
• Kansas follows closely, providing 52 years of retirement security.
• Mississippi rounds out the top three, with retirees enjoying 51 years of financial comfort.

These states boast lower housing, healthcare, and daily living costs, allowing retirees to maintain a comfortable lifestyle without rapidly depleting their savings.

Worst States for Retirement Savings Longevity

On the other hand, high-cost states can eat through savings quickly, forcing retirees to either downsize drastically or risk running out of money. The three most expensive states for retirees are:

• California offers only 24 years of financial security before savings run dry.
• Massachusetts fares even worse, with just 23 years.
• Hawaii is the worst state for retirees relying on savings, lasting only 17 years, with annual expenses exceeding $87,000.

The Cost-of-Living Gap: A $60K+ Difference

The disparity in living costs between states is enormous, with a $60,000+ yearly gap between the most and least expensive places to retire. This means that where you choose to retire could be the difference between enjoying decades of financial security or running out of money far sooner than expected.

Key Takeaway

While $1.5M may seem like a substantial nest egg, its longevity depends heavily on location. Retirees should carefully evaluate state-specific living costs, taxes, and healthcare expenses before making their decision. Choosing wisely could mean the difference between a stress-free retirement and financial hardship down the road.

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