How Long $1.2 Million Will Last in Retirement in Every State

Anyone retiring with more than a million bucks in their bank accounts should be all set, right? Well, although that's a sizable nest egg, how far that money stretches depends largely on where you live. Rising costs for housing, healthcare, groceries and utilities have made the cost of retirement dramatically different from one state to the next.

Here, MoneyLion examines just how long $1.2 million will last in retirement in every state, taking into account average expenses, inflation-adjusted living costs and the everyday spending needs you'll face in your golden years. Whether you're planning to retire soon, considering a move to a more affordable location or simply wondering if your savings are on track, understanding how state-by-state costs affect your financial future is a big part of retirement planning.

If you're wondering where your money disappears the fastest and which states offer the best value for your retirement income, we found some key takeaways:

For the national average, a $1.2 million retirement savings will last you 32.39 years with Social Security and 19.53 years without those benefit checks.

In Hawaii and Alaska, the average annual grocery bill comes in at over $6,600.

Only six states -- Mississippi, Alabama, Arkansas, Michigan, Tennessee and West Virginia -- have estimated healthcare costs of less than $7,000 a year.

The results could reshape how you think about where you retire, as well as how much you'll need to save to do so. Here's how much $1.2 million will last you in every state, ranked by longevity.

How many years $1.2 million will last with Social Security: 44.59 years

How many years $1.2 million will last without Social Security: 23.39 years

Annual expenditure cost after Social Security: $26,914.84

How many years $1.2 million will last with Social Security: 43.11 years

How many years $1.2 million will last without Social Security: 22.98 years

Annual expenditure cost after Social Security: $27,836.32

How many years $1.2 million will last with Social Security: 42.00 years

How many years $1.2 million will last without Social Security: 22.66 years

Annual expenditure cost after Social Security: $28,573.50

How many years $1.2 million will last with Social Security: 40.77 years

How many years $1.2 million will last without Social Security: 22.30 years

Annual expenditure cost after Social Security: $29,433.55