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How Long Will $1 Million Last You?



Comfort in the Golden Years can be all about the money and depending on the destination you choose to retire, one million bucks may not be a lot of money to fall back on, especially in these inflationary times.


If a person wants to retire by their 60s, factor that you may want to have eight times your annual salary, according to Investopedia.


In 2020, U.S. life expectancy was 77 and is steadily rising. Nearly 64% of individuals between ages 55 and 64 have remained engaged in the working world, as of April 2022.


According to Federal Reserve Data, in 2019, only about half of American families even had established retirement savings accounts.


So, how long will that $1 million retirement nest egg last, if you are among the proactive or perhaps lucky ones who have saved? The answer depends entirely on geography.



The following 5 cities are considered least expensive places to retire in 2022, based on how many years $1 million will last you and where the reasonable cost of living might be worth considering.


1. Omaha, NE – 34.3 years

2. San Antonio, TX – 34.4 years

3. Baltimore, MD – 35.3 years

4. Louisville, KY – 35.3 years

5. Detroit, MI – 35.8 years


On the opposite end of the spectrum, it looks like California is the state to avoid when considering retirement. Four out of five of the most expensive cities are located in The Golden State. San Francisco tops the list, where $1 million won’t even last you a decade.


1. San Francisco – 8.3 years

2. San Jose, Calif. – 10.8 years

3. New York City – 12.7 years

4. Oakland, Calif. – 13.8 years

5. Los Angeles – 13.9 years


So, choose wisely. Not all cities are built equally, if you want those retirement savings to last, you may want to choose a place where you can live like Cinderella and her prince… happily ever after!


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