A new report looked at cost-of-living, housing, healthcare, and a bunch of other stats. And it 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. And the most expensive state is Hawaii, where you could only make it about a decade.
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.
Everyone's favorite retirement state of FLORIDA was in the middle of the pack. $1 million there would last 20 years, good enough for 26th place.
Illinois
Annual groceries cost: $3,860.67
Annual housing cost: $8,018.95
Annual utilities cost: $3,733.69
Annual transportation cost: $4,929.81
Annual healthcare cost: $6,788.40
Total annual expenditures: $48,266.14
How long $1 million will last in savings: 20 years, 8 months, 13 days
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