Just how long would $2 million in savings last on the East Coast if Social Security runs out?
The time horizon, according to a new GOBankingRates study, is largely ideal for retirees planning to retire later in life, such as around age 67 or older. On the low end, retirees would only get up to 22 years out of these funds, while the high end does not afford more than 36 years in this next chapter.
See More: 6 Cash-Flow Mistakes Boomers Are Making With Their Retirement Savings
Read Next: How Middle-Class Earners Are Quietly Becoming Millionaires — and How You Can, Too
Take a look at how much this savings lasts for retirees on the East Coast.
Connecticut
Annual expenditures: $67,117
Years $2 million will last: 29.8
National average: 33.3 years
Find Out: How To Protect Your 401(k) From a Stock Market Crash
Explore Next: I’m Retired and Regret Claiming Social Security at 70 — Here’s Why
Trending Now: Suze Orman’s Secret to a Wealthy Retirement–Have You Made This Money Move?
Delaware
Annual expenditures: $60,207
Years $2 million will last: 33.2
National average: 33.3 years
That’s Interesting: 4 Reasons You Might Regret Moving To Florida for Retirement
Florida
Annual expenditures: $61,529
Years $2 million will last: 32.5
National average: 33.3 years
Georgia
Annual expenditures: $54,980
Years $2 million will last: 36.4
National average: 33.3 years
Maine
Annual expenditures: $68,199
Years $2 million will last: 29.3
National average: 33.3 years
Trending Now: How Far $500,000 in Retirement Savings Plus Social Security Goes in Every State
Maryland
Annual expenditures: $59,426
Years $2 million will last: 33.7
National average: 33.3 years
Massachusetts
Annual expenditures: $88,268
Years $2 million will last: 22.7
National average: 33.3 years
New Hampshire
Annual expenditures: $66,997
Years $2 million will last: 29.9
National average: 33.3 years
Try This: 3 Things Retirees Should Sell To Build Their Retirement Savings
New Jersey
Annual expenditures: $68,980
Years $2 million will last: 29
National average: 33.3 years
New York
Annual expenditures: $74,147
Years $2 million will last: 27
National average: 33.3 years
North Carolina
Annual expenditures: $58,645
Years $2 million will last: 34.1
National average: 33.3 years
For You: Cutting Expenses for Retirement? Here’s the No. 1 Thing To Get Rid of First
Rhode Island
Annual expenditures: $67,538
Years $2 million will last: 29.6
National average: 33.3 years
South Carolina
Annual expenditures: $57,203
Years $2 million will last: 35
National average: 33.3 years
Virginia
Annual expenditures: $60,387
Years $2 million will last: 33.1
National average: 33.3 years
Methodology: GOBankingRates found the national average annual expenditures for people 65 and older, sourced from the Bureau of Labor Statistics’ 2023 Consumer Expenditure Survey data. Then, GOBankingRates created (2) state-level annual expenditure estimates by multiplying the national figure by each state’s overall cost-of-living index score for 2024 from the Missouri Economic Research and Information Center. Finally, GOBankingRates found (3) how many years $2 million will last in each state by dividing $2 million by each state’s average annual expenditures estimate and its annual expenditures estimate minus yearly Social Security income. All data was collected on and is up to date as of March 7, 2025.
More From GOBankingRates
Surprising Items People Are Stocking Up On Before Tariff Pains Hit: Is It Smart?
The Most Expensive Disney Merchandise Ever Sold — and Who’s Buying It
Use This Checklist to See if Your Family is Financially Secure
7 Wealth-Building Shortcuts Proven To Add $1K to Your Wallet This Month
This article originally appeared on GOBankingRates.com: If Social Security Runs Out, How Long Will $2 Million Last on the East Coast?
