<p>-
- How Far Does $500K in Savings Plus Social Security Go in Every State?</p>
<p>Deborah SabinusSeptember 12, 2025 at 5:05 AM</p>
<p>3</p>
<p>©Shutterstock.com</p>
<p>While the average savings at retirement age in America is more than $600,000, according to the Federal Reserve Board, a savings of $500,000 can go a long way if you plan wisely and also make some lifestyle adjustments.</p>
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<p>At older than 65, it becomes less of a risk as you'll also be benefiting from your Social Security. How long you'll live on your savings is affected by inflation, housing, health insurance, and your location. These savings could last anywhere from six to 18 years, depending on these factors.</p>
<p>GOBankingRates data provides you with an approximation of how far your savings plus Social Security can go in every state, ranked by longest to shortest.</p>
<p>PixelsEffect / iStock.comOklahoma -</p>
<p>Number of years $500,000 will last with Social Security: 18.22</p>
<p>Annual expenditure: $49,839</p>
<p>Annual expenditure after Social Security: $27,442</p>
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<p>Luke Chan / iStock/Getty ImagesMississippi -</p>
<p>Number of years $500,000 will last with Social Security: 18.18</p>
<p>Annual expenditure: $49,897</p>
<p>Annual expenditure after Social Security: $27,500</p>
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<p>eggeeggjiew / Getty Images/iStockphotoKansas -</p>
<p>Number of years $500,000 will last with Social Security: 17.88</p>
<p>Annual expenditure: $50,359</p>
<p>Annual expenditure after Social Security: $27,962</p>
<p>AscentXmedia / Getty ImagesWest Virginia -</p>
<p>Number of years $500,000 will last with Social Security: 17.66</p>
<p>Annual expenditure: $50,706</p>
<p>Annual expenditure after Social Security: $28,309</p>
<p>shapecharge / Getty ImagesAlabama -</p>
<p>Number of years $500,000 will last with Social Security: 17.45</p>
<p>Annual expenditure: $51,053</p>
<p>Annual expenditure after Social Security: $28,656</p>
<p>Moyo Studio / iStock/Getty ImagesMissouri -</p>
<p>Number of years $500,000 will last with Social Security: 17.38</p>
<p>Annual expenditure: $51,169</p>
<p>Annual expenditure after Social Security: $28,772</p>
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<p>RealPeopleGroup / Getty ImagesArkansas -</p>
<p>Number of years $500,000 will last with Social Security: 17.21</p>
<p>Annual expenditure: $51,458</p>
<p>Annual expenditure after Social Security: $29,061</p>
<p>perinjo / iStock/Getty ImagesIowa -</p>
<p>Number of years $500,000 will last with Social Security: 16.77</p>
<p>Annual expenditure: $52,210</p>
<p>Annual expenditure after Social Security: $29,812</p>
<p>Adene Sanchez / Getty ImagesTennessee -</p>
<p>Number of years $500,000 will last with Social Security: 16.77</p>
<p>Annual expenditure: $52,210</p>
<p>Annual expenditure after Social Security: $29,812</p>
<p>insta_photos / Getty Images/iStockphotoMichigan -</p>
<p>Number of years $500,000 will last with Social Security: 16.67</p>
<p>Annual expenditure: $52,383</p>
<p>Annual expenditure after Social Security: $29,986</p>
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<p>skynesher / Getty ImagesGeorgia -</p>
<p>Number of years $500,000 will last with Social Security: 16.61</p>
<p>Annual expenditure: $52,499</p>
<p>Annual expenditure after Social Security: $30,101</p>
<p>PeopleImages / Getty Images/iStockphotoNebraska -</p>
<p>Number of years $500,000 will last with Social Security: 16.58</p>
<p>Annual expenditure: $52,557</p>
<p>Annual expenditure after Social Security: $30,159</p>
<p>fizkes / iStock.comIndiana -</p>
<p>Number of years $500,000 will last with Social Security: 16.55</p>
<p>Annual expenditure: $52,614</p>
<p>Annual expenditure after Social Security: $30,217</p>
<p>Jacob Wackerhausen / iStock.comLouisiana -</p>
<p>Number of years $500,000 will last with Social Security: 16.55</p>
<p>Annual expenditure: $52,614</p>
<p>Annual expenditure after Social Security: $30,217</p>
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<p>Kentucky -</p>
<p>Number of years $500,000 will last with Social Security: 16.24</p>
<p>Annual expenditure: $53,193</p>
<p>Annual expenditure after Social Security: $30,795</p>
<p>kupicoo / iStock.comIllinois -</p>
<p>Number of years $500,000 will last with Social Security: 16.21</p>
<p>Annual expenditure: $53,250</p>
<p>Annual expenditure after Social Security: $30,853</p>
<p>Johnny Greig / iStock.comWyoming -</p>
<p>Number of years $500,000 will last with Social Security: 16.12</p>
<p>Annual expenditure: $53,424</p>
<p>Annual expenditure after Social Security: $31,027</p>
<p>Cheri Alguire / Getty ImagesSouth Dakota -</p>
<p>Number of Years $500k will Last with Social Security: 16.12</p>
<p>Years, months and days:16 years 1 month 12 days</p>
<p>Annual Expenditure: $53,423.83</p>
<p>Annual Expenditure after Social Security: $31,026.55</p>
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<p>belterz / Getty ImagesTexas -</p>
<p>Number of years $500,000 will last with Social Security: 16.03</p>
<p>Annual expenditure: $53,597</p>
<p>Annual expenditure after Social Security: $31,200</p>
<p>ElFlacodelNorte / Getty Images/iStockphotoNew Mexico -</p>
<p>Number of years $500,000 will last with Social Security: 15.65</p>
<p>Annual expenditure: $53,349</p>
<p>Annual expenditure after Social Security: $31,952</p>
<p>Photo Image / Shutterstock.comMinnesota -</p>
<p>Number of years $500,000 will last with Social Security: 15.62</p>
<p>Annual expenditure: $54,407</p>
<p>Annual expenditure after Social Security: $32,009</p>
<p>powerofforever / Getty ImagesNorth Dakota -</p>
<p>Number of years $500,000 will last with Social Security: 15.48</p>
<p>Annual expenditure: $54,696</p>
<p>Annual expenditure after Social Security: $32,299</p>
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<p>Ohio -</p>
<p>Number of years $500,000 will last with Social Security: 15.45</p>
<p>Annual expenditure: $54,754</p>
<p>Annual expenditure after Social Security: $32,356</p>
<p>Rudy Balasko / Shutterstock.comWisconsin -</p>
<p>Number of years $500,000 will last with Social Security: 15.34</p>
<p>Annual expenditure: $54,985</p>
<p>Annual expenditure after Social Security: $32,588</p>
<p>SeanPavonePhoto / Getty Images/iStockphotoSouth Carolina -</p>
<p>Number of years $500,000 will last with Social Security: 15.29</p>
<p>Annual expenditure: $55,101</p>
<p>Annual expenditure after Social Security: $32,703</p>
<p>Darwin Brandis / iStock.comNorth Carolina -</p>
<p>Number of years $500,000 will last with Social Security: 15.29</p>
<p>Annual expenditure: $55,101</p>
<p>Annual expenditure after Social Security: $32,703</p>
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<p>mandritoiu / Shutterstock.comPennsylvania -</p>
<p>Number of years $500,000 will last with Social Security: 15.21</p>
<p>Annual expenditure: $55,274</p>
<p>Annual expenditure after Social Security: $32,877</p>
<p>welcomia / Shutterstock.comIdaho -</p>
<p>Number of years $500,000 will last with Social Security: 14.45</p>
<p>Annual expenditure: $57,009</p>
<p>Annual expenditure after Social Security: $34,611</p>
<p>Art Wager / iStock/Getty ImagesFlorida -</p>
<p>Number of years $500,000 will last with Social Security: 13.96</p>
<p>Annual expenditure: $58,223</p>
<p>Annual expenditure after Social Security: $35,825</p>
<p>Pgiam / Getty Images/iStockphotoNevada -</p>
<p>Number of years $500,000 will last with Social Security: 13.89</p>
<p>Annual expenditure: $58,396</p>
<p>Annual expenditure after Social Security: $35,999</p>
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<p>AndreyKrav / iStock.comDelaware -</p>
<p>Number of years $500,000 will last with Social Security: 13.87</p>
<p>Annual expenditure: $58,454</p>
<p>Annual expenditure after Social Security: $36,057</p>
<p>Kirkikis / Getty ImagesVirginia -</p>
<p>Number of years $500,000 will last with Social Security: 13.69</p>
<p>Annual expenditure: $58,917</p>
<p>Annual expenditure after Social Security: $36,519</p>
<p>DianeBentleyRaymond / Getty ImagesMontana -</p>
<p>Number of years $500,000 will last with Social Security: 13.48</p>
<p>Annual expenditure: $59,495</p>
<p>Annual expenditure after Social Security: $37,097</p>
<p>chapin31 / Getty Images/iStockphotoUtah -</p>
<p>Number of years $500,000 will last with Social Security: 13.42</p>
<p>Annual expenditure: $59,668</p>
<p>Annual expenditure after Social Security: $37,271</p>
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<p>Colorado -</p>
<p>Number of years $500,000 will last with Social Security: 13.03</p>
<p>Annual expenditure: $60,767</p>
<p>Annual expenditure after Social Security: $38,369</p>
<p>Elis Cora / iStock.comArizona -</p>
<p>Number of years $500,000 will last with Social Security: 12.41</p>
<p>Annual expenditure: $62,675</p>
<p>Annual expenditure after Social Security: $40,277</p>
<p>DenisTangneyJr / Getty Images/iStockphotoMaine -</p>
<p>Number of years $500,000 will last with Social Security: 12.15</p>
<p>Annual expenditure: $63,542</p>
<p>Annual expenditure after Social Security: $41,145</p>
<p>Alex Potemkin / Getty Images/iStockphotoRhode Island -</p>
<p>Number of years $500,000 will last with Social Security: 12.02</p>
<p>Annual expenditure: $64,005</p>
<p>Annual expenditure after Social Security: $41,607</p>
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<p>©iStock.comConnecticut -</p>
<p>Number of years $500,000 will last with Social Security: 11.68</p>
<p>Annual expenditure: $65,219</p>
<p>Annual expenditure after Social Security: $42,821</p>
<p>©Shutterstock.comNew Jersey -</p>
<p>Number of years $500,000 will last with Social Security: 11.51</p>
<p>Annual expenditure: $65,855</p>
<p>Annual expenditure after Social Security: $43,457</p>
<p>DenisTangneyJr / iStock.comNew Hampshire -</p>
<p>Number of years $500,000 will last with Social Security: 11.47</p>
<p>Annual expenditure: $65,970</p>
<p>Annual expenditure after Social Security: $43,573</p>
<p>jmoor17 / Shutterstock.comOregon -</p>
<p>Number of years $500,000 will last with Social Security: 11.38</p>
<p>Annual expenditure: $66,317</p>
<p>Annual expenditure after Social Security: $43,920</p>
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<p>Vermont -</p>
<p>Number of years $500,000 will last with Social Security: 11.30</p>
<p>Annual expenditure: $66,664</p>
<p>Annual expenditure after Social Security: $44,267</p>
<p>Washington -</p>
<p>Number of years $500,000 will last with Social Security: 11.19</p>
<p>Annual expenditure: $67,069</p>
<p>Annual expenditure after Social Security: $44,672</p>
<p>©iStock.comMaryland -</p>
<p>Number of years $500,000 will last with Social Security: 11.12</p>
<p>Annual expenditure: $67,358</p>
<p>Annual expenditure after Social Security: $44,961</p>
<p>brytta / Getty ImagesAlaska -</p>
<p>Number of years $500,000 will last with Social Security: 10.00</p>
<p>Annual expenditure: $72,388</p>
<p>Annual expenditure after Social Security: $49,991</p>
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<p>New York -</p>
<p>Number of years $500,000 will last with Social Security: 9.92</p>
<p>Annual expenditure: $72,793</p>
<p>Annual expenditure after Social Security: $50,396</p>
<p>DutcherAerials / Getty Images/iStockphotoCalifornia -</p>
<p>Number of years $500,000 will last with Social Security: 8.67</p>
<p>Annual expenditure: $80,078</p>
<p>Annual expenditure after Social Security: $57,681</p>
<p>Jill_InspiredByDesign / Getty Images/iStockphotoMassachusetts -</p>
<p>Number of years $500,000 will last with Social Security: 8.02</p>
<p>Annual expenditure: $84,703</p>
<p>Annual expenditure after Social Security: $62,306</p>
<p>Art Wager / Getty ImagesHawaii -</p>
<p>Number of years $500,000 will last with Social Security: 6.11</p>
<p>Annual Expenditure: $104,246</p>
<p>Annual Expenditure after Social Security: $81,849</p>
<p>Methodology: In order to find how long $500,000 will last across the country with Social Security, GOBankingRates first found the national average annual expenditures for people 65 and older, sourced from the Bureau of Labor Statistics' 2022 Consumer Expenditure Survey data, and the annual Social Security income as sourced from the Social Security Administration's April 2024 data. Then, GOBankingRates created state-level annual expenditure estimates by multiplying the national figure by each state's overall cost-of-living index score for 2023 from the Missouri Economic Research and Information Center (MERIC). Finally, GOBankingRates found how many years $500,000 will last in each state by dividing $500,000 by each state's average annual expenditures estimate minus yearly Social Security income. All 50 states were then ranked. GOBankingRates provided supplemental information on the average annual cost of groceries, housing, utilities, transportation, and healthcare for people 65 and older in each state by again using MERIC's cost-of-living indices for each category to factor out national estimates from the CEX. All data was collected on and is up to date as of May 22, 2024.</p>
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<p>This article originally appeared on GOBankingRates.com: How Far Does $500K in Savings Plus Social Security Go in Every State?</p>
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Source: "AOL Money"
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