Having $1 million saved for retirement will last you a little over 14 years in New York, according to a new ranking from GOBankingRates, a finance website.
That was the fourth-shortest span in the ranking.
A million dollars lasts less time in retirement in just three other states: Hawaii, Massachusetts and California, GoBankingRates said. One million dollars lasts the least amount of time in Hawaii at just 10 years and three months.
The site used a combination of data from the federal Bureau of Labor Statistics and the Missouri Economic Research and Information Center to come up with its rankings. The lists uses both consumer spending figures and cost-of-living index scores.
One million dollars will last the longest in Mississippi, according to GoBankingRates. Retirees with that much saved there can expect the money to last more than 22 years.
You can see the 10 states where $1 million will last the least amount of time below and read more on GoBankingRates website.
10. New Hampshire: 16 years 8 months 18 days
9. Connecticut: 16 years 7 months 13 days
8. Vermont: 16 years 5 months 23 days
7. Oregon: 15 years 8 months 8 days
6. Maryland: 15 years 5 months 13 days
5. Alaska: 15 years 3 months 12 days
4. New York: 14 years 1 months 15 days
3. California: 13 years 9 months 29 days
2. Massachusetts: 12 years 9 months 14 days
1. Hawaii: 10 years 3 months 22 days
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