A recent online news headline grabbed my attention: “How long $1 million will last in retirement in every state.” You may be thinking what I’m thinking — that I wish I had $1 million so I could see just how long it really would last.
Play along and imagine for a moment that you are retired and have indeed stockpiled that much money. For how long could you live off of it? According to this article that appeared on MSN, if you retired in Indiana with $1 million, it would last for 24 years and 9 months. At No. 9 in the ranking, Indiana came in as one of the most affordable states for retirees, ranking just behind states in the Deep South.