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GOBankingRates

Heather Taylor

How Long $2 Million Will Last You in Retirement in Every State

DenisTangneyJr Sean Pavone GOBankingRates Social Security

Americans with $2 million saved will enjoy a comfortable retirement in nearly every state. According to a new study from GOBankingRates, $2 million in retirement savings funds 25 years or longer in 47 states.

GOBankingRates found how long $2 million lasts in retirement by studying the national average expenditures for people ages 65 and older. Then, we created state-level expenditure estimates by multiplying the national figure by each state’s cost-of-living index.

To find out how many years $2 million lasts in each state, we divided this amount by each state’s average annual expenditures estimate. Additional supplemental information includes the average annual cost of groceries, housing and healthcare for people ages 65 and older.

Key Findings

California, Massachusetts and Hawaii are the only states where $2 million lasts less than 25 years in retirement. Hawaii ranked last place at a paltry 18 years.
The $2 million lasts longest in Oklahoma and Mississippi. In both states, the average person can live more than 38 years.
The top 10 was dominated by six Southern states. If you retire with $2 million in Oklahoma (#1), Mississippi (#2), Alabama (#3), West Virginia (#4), Arkansas (#7) and Tennessee (#8), you can comfortably fund up to 36 years in retirement.

Keep reading to find out how long $2 million in retirement savings lasts in every state. Plus, here’s how far $1 million and Social Security goes in retirement.

Learn More: GOBankingRates Original Research Center

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DenisTangneyJr / Getty Images/iStockphoto

1. Oklahoma

Number of years $2 million will last: 38.57
Annual expenditures: $51,849
Annual groceries: $4,973
Annual housing: $8,824
Annual healthcare: $7,261

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SeanPavonePhoto / Getty Images/iStockphoto

2. Mississippi

Number of years $2 million will last: 38.08
Annual expenditures: $52,524
Annual groceries: $4,952
Annual housing: $9,122
Annual healthcare: $7,300

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3. Alabama

Number of years $2 million will last: 37.04
Annual expenditures: $53,999
Annual groceries: $5,130
Annual housing: $9,239
Annual healthcare: $6,910

DavidByronKeener / Getty Images/iStockphoto

4. West Virginia

Number of years $2 million will last: 36.95
Annual expenditures: $54,122
Annual groceries: $5,046
Annual housing: $9,200
Annual healthcare: $7,105

5. Kansas

Number of years $2 million will last: 36.62
Annual expenditures: $54,613
Annual groceries: $5,015
Annual housing: $10,071
Annual healthcare: $7,269

6. Missouri

Number of years $2 million will last: 36.58
Annual expenditures: $54,674
Annual groceries: $4,999
Annual housing: $10,110
Annual healthcare: $7,534

7. Arkansas

Number of years $2 million will last: 36.46
Annual expenditures: $54,859
Annual groceries: $4,847
Annual housing: $10,123
Annual healthcare: $6,692

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8. Iowa (tied)

Number of years $2 million will last: 36.05
Annual expenditures: $55,473
Annual groceries: $5,141
Annual housing: $10,032
Annual healthcare: $7,542

Jonathan Ross / Getty Images/iStockphoto

8. Tennessee (tied)

Number of years $2 million will last: 36.05
Annual expenditures: $55,473
Annual groceries: $5,083
Annual housing: $10,786
Annual healthcare: $6,840

10. Indiana

Number of years $2 million will last: 35.93
Annual expenditures: $55,657
Annual groceries: $5,235
Annual housing: $9,902
Annual healthcare: $7,854

11. Texas

Number of years $2 million will last: 35.85
Annual expenditures: $55,780
Annual groceries: $4,967
Annual housing: $10,227
Annual healthcare: $7,495

12. North Dakota

Number of years $2 million will last: 35.66
Annual expenditures: $56,087
Annual groceries: $4,952
Annual housing: $9,941
Annual healthcare: $8,517

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steveodonnell / Getty Images/iStockphoto

13. Nebraska

Number of years $2 million will last: 35.54
Annual expenditures: $56,272
Annual groceries: $5,156
Annual housing: $10,266
Annual healthcare: $7,869

14. Georgia (tied)

Number of years $2 million will last: 35.46
Annual expenditures: $56,395
Annual groceries: $5,135
Annual housing: $10,240
Annual healthcare: $7,581

14. South Dakota (tied)

Number of years $2 million will last: 35.46
Annual expenditures: $56,395
Annual groceries: $5,104
Annual housing: $11,033
Annual healthcare: $8,587

16. Kentucky

Number of years $2 million will last: 35.43
Annual expenditures: $56,456
Annual groceries: $5,235
Annual housing: $9,746
Annual healthcare: $7,245

17. New Mexico (tied)

Number of years $2 million will last: 35.20
Annual expenditures: $56,825
Annual groceries: $5,062
Annual housing: $11,124
Annual healthcare: $7,908

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Murrells Inlet, South Carolina iStock-1478262147

17. South Carolina (tied)

Number of years $2 million will last: 35.20
Annual expenditures: $56,825
Annual groceries: $5,251
Annual housing: $10,370
Annual healthcare: $7,269

19. Louisiana

Number of years $2 million will last: 35.12
Annual expenditures: $56,947
Annual groceries: $5,036
Annual housing: $10,929
Annual healthcare: $7,198

20. Ohio

Number of years $2 million will last: 35.08
Annual expenditures: $57,009
Annual groceries: $5,183
Annual housing: $10,968
Annual healthcare: $7,074

21. Minnesota

Number of years $2 million will last: 34.56
Annual expenditures: $57,869
Annual groceries: $5,277
Annual housing: $10,474
Annual healthcare: $8,103

22. Michigan

Number of years $2 million will last: 34.38
Annual expenditures: $58,176
Annual groceries: $5,204
Annual housing: $11,098
Annual healthcare: $7,620

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23. Wyoming

Number of years $2 million will last: 34.16
Annual expenditures: $58,545
Annual groceries: $5,241
Annual housing: $11,332
Annual healthcare: $7,900

24. Illinois

Number of years $2 million will last: 33.95
Annual expenditures: $58,913
Annual groceries: $5,298
Annual housing: $11,033
Annual healthcare: $7,955

25. Pennsylvania

Number of years $2 million will last: 33.53
Annual expenditures: $59,650
Annual groceries: $5,251
Annual housing: $11,306
Annual healthcare: $7,362

26. North Carolina

Number of years $2 million will last: 33.43
Annual expenditures: $59,835
Annual groceries: $5,267
Annual housing: $11,981
Annual healthcare: $8,353

27. Wisconsin

Number of years $2 million will last: 33.32
Annual expenditures: $60,019
Annual groceries: $5,256
Annual housing: $12,709
Annual healthcare: $7,978

28. Nevada

Number of years $2 million will last: 33.02
Annual expenditures: $60,572
Annual groceries: $5,346
Annual housing: $14,035
Annual healthcare: $6,980

29. Idaho

Number of years $2 million will last: 32.89
Annual expenditures: $60,818
Annual groceries: $5,088
Annual housing: $13,294
Annual healthcare: $8,189

30. Utah

Number of years $2 million will last: 32.85
Annual expenditures: $60,879
Annual groceries: $5,025
Annual housing: $13,983
Annual healthcare: $6,996

31. Florida

Number of years $2 million will last: 32.72
Annual expenditures: $61,125
Annual groceries: $5,550
Annual housing: $12,878
Annual healthcare: $7,331

32. Virginia

Number of years $2 million will last: 32.52
Annual expenditures: $61,493
Annual groceries: $5,283
Annual housing: $12,956
Annual healthcare: $8,103

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33. Colorado

Number of years $2 million will last: 31.70
Annual expenditures: $63,091
Annual groceries: $5,298
Annual housing: $13,879
Annual healthcare: $8,220

34. Delaware

Number of years $2 million will last: 31.67
Annual expenditures: $63,152
Annual groceries: $5,451
Annual housing: $13,268
Annual healthcare: $8,056

35. Arizona

Number of years $2 million will last: 29.92
Annual expenditures: $66,838
Annual groceries: $5,272
Annual housing: $16,283
Annual healthcare: $7,300

36. New Hampshire

Number of years $2 million will last: 29.81
Annual expenditures: $67,084
Annual groceries: $5,241
Annual housing: $14,801
Annual healthcare: $8,275

37. Montana

Number of years $2 million will last: 29.65
Annual expenditures: $67,452
Annual groceries: $5,262
Annual housing: $16,023
Annual healthcare: $8,688

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38. Oregon

Number of years $2 million will last: 29.12
Annual expenditures: $68,681
Annual groceries: $5,603
Annual housing: $15,906
Annual healthcare: $9,086

39. Rhode Island

Number of years $2 million will last: 28.71
Annual expenditures: $69,664
Annual groceries: $5,545
Annual housing: $15,646
Annual healthcare: $8,072

40. Vermont

Number of years $2 million will last: 28.63
Annual expenditures: $69,848
Annual groceries: $5,650
Annual housing: $16,725
Annual healthcare: $8,813

41. Washington

Number of years $2 million will last: 28.58
Annual expenditures: $69,971
Annual groceries: $5,592
Annual housing: $15,607
Annual healthcare: $8,899

42. Connecticut

Number of years $2 million will last: 28.53
Annual expenditures: $70,094
Annual groceries: $5,619
Annual housing: $16,127
Annual healthcare: $8,844

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43. Maine

Number of years $2 million will last: 28.51
Annual expenditures: $70,155
Annual groceries: $5,377
Annual housing: $18,141
Annual healthcare: $8,961

44. New Jersey

Number of years $2 million will last: 28.41
Annual expenditures: $70,401
Annual groceries: $5,482
Annual housing: $18,141
Annual healthcare: $8,867

Alexphotographic / Getty Images/iStockphoto

45. Maryland

Number of years $2 million will last: 27.38
Annual expenditures: $73,043
Annual groceries: $5,619
Annual housing: $19,168
Annual healthcare: $8,439

46. New York

Number of years $2 million will last: 25.72
Annual expenditures: $77,773
Annual groceries: $5,435
Annual housing: $23,209
Annual healthcare: $8,805

47. Alaska

Number of years $2 million will last: 25.49
Annual expenditures: $78,449
Annual groceries: $6,532
Annual housing: $16,387
Annual healthcare: $11,121

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48. California

Number of years $2 million will last: 23.82
Annual expenditures: $83,978
Annual groceries: $5,645
Annual housing: $23,625
Annual healthcare: $8,119

49. Massachusetts

Number of years $2 million will last: 21.59
Annual expenditures: $92,639
Annual groceries: $5,377
Annual housing: $30,265
Annual healthcare: $10,443

50. Hawaii

Number of years $2 million will last: 18.12
Annual expenditures: $110,393
Annual groceries: $6,853
Annual housing: $38,803
Annual healthcare: $9,991

Explore more original studies and surveys in the GOBankingRates original research center.

Methodology: National average annual expenditures for people 65 and older were sourced from the Bureau of Labor Statistics’ 2024 Consumer Expenditure Survey data. GOBankingRates created state-level annual expenditure estimates by multiplying the national figure by each state’s cost-of-living index for Q3 2025 from the Missouri Economic Research and Information Center. GOBankingRates then found how many years $2 million will last in each state by dividing $2 million by each state’s average annual expenditures estimate. Average annual cost of groceries, housing, utilities, transportation and healthcare for people 65 and older in each state was sourced from MERIC’s cost-of-living indices. All data was collected on Jan. 21, 2026.

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This article originally appeared on GOBankingRates.com: How Long $2 Million Will Last You in Retirement in Every State

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