How Far Could $1 Million Go in Retirement?
From: financeinsights.net
A million dollars used to be the ultimate target for retirement portfolios. Retiring as a millionaire brought status and confidence that you could live comfortably during your golden years.
If you retired with $1 million in 1970, you probably didn’t have to worry about your nest egg running out, even with a lavish lifestyle. It would be like retiring with $6.9 million today.1
Retire with $1 million in the ’80s, and it would have been like retiring with $3.35 million in 2021.1
And in 1990?
A cool $1 million would have gone twice as far as it does these days.1
Clearly, $1 million doesn’t go as far as it used to.
Just how far could it go these days?
The answer depends on how and where you live.
In retirement, as in real estate, location is everything (or, at least, it’s a lot). The map below shows how long $1 million could last in each state. This state-by-state breakdown features a few different hypothetical growth scenarios and the results of our calculations.
Let’s see how long a $1 million nest egg could last where you want to retire — or wherever you’ve already retired.
