The duration of retirement savings typically depends on withdrawal rates and normal lifestyle expenses. In other words, how much do you withdraw and how often?
With your retirement savings and Social Security, there is a longer timeline that is affected by the city you live in at the time of retirement. Remember, your retirement benefit is based on your lifetime earnings.
According to GOBankingRates research, more than $750,000 in Social Security can last for different years in each state. The state with the shortest tenure is Hawaii (about eight years) and the state with the longest tenure is West Virginia (28 years).
From longest to shortest, here’s how much $750,000 in combined savings and Social Security would cost in each state.