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Is $1 million enough for retirement in your state?

GOBankingRates Logo By Joel Anderson of GOBankingRates | Slide 2 of 53: $1 million will last: 11 years, 8 months, 20 daysIf you retire with $1 million in Hawaii, you have just shy of a dozen years to ride out your savings. Due to the high cost of living in Hawaii, you might even need to tap your retirement savings early.At $5,806 a year, the cost of groceries is by far the highest in the nation, and housing is no picnic, either. At $47,928 a year, housing costs in Hawaii blow away the next-most-expensive state by nearly $15,000 a year. In all, annual expenditures are over $20,000 more in Hawaii than the next-priciest state.

50. Hawaii

  • $1 million will last: 11 years, 8 months, 20 days
  • If you retire with $1 million in Hawaii, you have just shy of a dozen years to ride out your savings. Due to the high cost of living in Hawaii, you might even need to tap your retirement savings early.

    At $5,806 a year, the cost of groceries is by far the highest in the nation, and housing is no picnic, either. At $47,928 a year, housing costs in Hawaii blow away the next-most-expensive state by nearly $15,000 a year. In all, annual expenditures are over $20,000 more in Hawaii than the next-priciest state.

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