State By State: How Long $1 Million In Retirement Savings Will Last

posted by Amy James - 

retirement

The $1 million figure is thrown around by AARP and others as the amount of savings needed to replace between 70 percent and 80 percent of a person’s work income. Of course, there are many variables that come with that number- like how long you live and inflation- to name a couple. 

Here are the five states where GOBankingRates says it will last the longest:

  • Mississippi (26 years, 4 months)

  • Arkansas (25 years, 6 months)

  • Oklahoma (25 years, 2 months)

  • Michigan (25 years)

  • Tennessee (25 years)

And the seven states where it will disappear the fastest: 

  • Hawaii (11 years, 11 months)

  • California (16 years, 5 months)

  • Alaska (17 years)

  • New York (17 years, 1 month)

  • Connecticut (17 years, 4 months)

  • Maryland (17 years, 4 months)

  • Massachusetts (17 years, 4 months)

Click here to see all the states. Huffington Post

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Amy James

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