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Here's How Long $1 Million In Retirement Savings Will Last In Your State


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In retirement, many people will need to stretch their savings and maybe relocate to the states where their money could last the longest.
It’s the question that keeps older people up at night: Will the recommended $1 million in retirementsavings actually be enough?
The answer depends in part on where you live, according to a new GOBankingRates study.
The $1 million figure is thrown around by AARP and others as the amount of savings needed to replace between 70% and 80% of a person’s work income. But that’s a rough estimate and there are a lot of variables in retirement planning: How large is that income you hope to replace? How long will you live? Should you count your home equity as part of your savings if you’re not planning on selling your home? How will taxes and investment returns affect your retirement income? How will inflation affect your expenses? What happens if you suffer a sudden or long-term incapacitating illness? ....

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