Erin Carman

Weekdays, 3 - 7pm

How long will $1 Million dollars last you in Illinois??

If you had a MILLION BUCKS in the bank, how many years could you ride it out without ever working again?

A new report looked at cost-of-living, housing, healthcare, and a bunch of other stats.  It ranked all 50 states according to how long it would take to burn through a million bucks if you retired there.

The cheapest state to retire in is Mississippi, where $1 million could last over 23 years and the most expensive state is Hawaii, where you could only make it about a decade.

Illinois was somewhere in the middle, with the report’s estimation being 20 years, 8 months, 13 days.  That’s figuring your total annual expenditures being $48,266.14.  Consider that if you ever win the lottery!

You can check out the rankings for all 50 states at GoBankingRates.com.

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