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GOBankingRates conducted a study to find out how long the average retirement income will last in every state.
Housing
The biggest expense to take a bite out of your retirement budget is housing in Hawaii.
Thats because the demand is high and the supply is low.
Be prepared to stretch your fixed income in this category if you settle in Hawaii.
This puts Hawaii dead last, as the state where you will spend your retirement money the fastest.
All 50 states and Washington, D.C. were then ranked, with No.
1 being the state where $555,621 and Social Security will last the longest and No.
51 being the state where it will run out most quickly.
All data was collected on and up to date as of July 15, 2024.
The average 401(k) balance was sourced from Empower for those in their 60s.
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