Retirement savings duration varies significantly by state

A recent analysis shows that $1.5 million in retirement savings can last significantly longer in some U.S. states than others. In Hawaii, it may only last 17 years, while in West Virginia, it could last up to 54 years. The study by GOBankingRates used data from the Bureau of Labor Statistics to assess typical annual expenses for retirees, including housing and healthcare. This approach provides a clearer view of retirement affordability across different states. States with high housing costs, like California and New York, show shorter durations for the same savings. The analysis highlights the impact of varying living expenses on retirement funds across the country.