If you had a million dollars saved away, how many years could you ride it out without ever working again?
A new report from GO Banking Rates looked at cost-of-living, housing, healthcare, and a bunch of other stats and ranked all 50 states according to how long it would take to burn through a million bucks if you retired there.
The cheapest state to retire in is Mississippi, where $1 million could last over 23 years nd the most expensive state is Hawaii, where you could only make it about a decade.
Where does the Sunshine State rank? Florida was in the middle of the pack where $1 million would last 20 years, good enough for 26th place.
The 10 states where $1 million goes the farthest are: Mississippi, Oklahoma, Arkansas, New Mexico, Kansas, Missouri, Tennessee, Alabama, Georgia and Michigan. They're all between 21 and 23 years.
The states where you'd burn through it the fastest are: Hawaii, 10 years and three months, California, just over 14 years, New York, 14 years and three months, Oregon, 14 years and seven months and Massachusetts, just over 15 years.
