Where To Retire Now…

| November 9, 2021

Is $1 Million Enough for Retirement in America?

The average American needs their retirement savings to last them 14 to 17 years. With this in mind, is $1 million in savings enough for the average retiree?

Ultimately, it depends on where you live, since the average cost of living varies across the country. This graphic, using data compiled by GOBankingRates.com shows how many years $1 million in retirement savings lasts in the top 50 most populated U.S. cities.

Editor’s note: As one user rightly pointed out, this analysis doesn’t take into account interest earned on the $1 million. With that in consideration, the above calculations could be seen as very conservative figures.

How Long $1 Million Would Last in 50 Cities

To compile this data, GOBankingRates calculated…

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This article originally appeared at Visual Capitalist

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Category: Personal Finance

About the Author ()

Carmen is a writer at Visual Capitalist, focused on tech, business, and general interest. She spends her days sifting through copious amounts of data and boiling it down to digestible bites.

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