How Long Will a Million Dollars Last You?
You’ve heard that you’ll need to save a million dollars to have a comfortable, worry-free retirement. Is that true here in the Palmetto State?
GOBankingRates has they answer, not just for South Carolina, but all 50 states. They analyzed data from the Bureau of Labor Statistics’ 2018 Consumer Expenditure Survey.
The state where the million dollars will last the longest, 23 years and 2 months? Mississippi. Your million will last the shortest if you move to Hawaii, where you’ll run out of retirement funds in 10 years and almost 3 months. So what about here in South Carolina? Overall, our state ranks 28th on the list, with a million dollars lasting 20 years and 4 months.
You can check out the breakdown of all 50 states here.
