Understanding How $2 Million Impacts Retirement in the Midwest

If your retirement fund contains $2 million, this amount could support you for a minimum of 33 years across all states in the Midwest region. This finding comes from a recent GOBankingRates study that explores how long $2 million in retirement savings can sustain retirees throughout various U.S. states.

Notably, even in a scenario where Social Security benefits diminish, $2 million remains a sufficient sum for a prolonged retirement in the Midwest.

Illinois

• Annual expenditures: $57,383
• Years $2 million will last: 34.9
• National average: 33.3 years

Indiana

• Annual expenditures: $54,859
• Years $2 million will last: 36.5
• National average: 33.3 years

Iowa

• Annual expenditures: $54,319
• Years $2 million will last: 36.8
• National average: 33.3 years

Kansas

• Annual expenditures: $52,095
• Years $2 million will last: 38.4
• National average: 33.3 years

Michigan

• Annual expenditures: $55,460
• Years $2 million will last: 36.1
• National average: 33.3 years

Minnesota

• Annual expenditures: $57,263
• Years $2 million will last: 34.9
• National average: 33.3 years

Missouri

• Annual expenditures: $53,477
• Years $2 million will last: 37.4
• National average: 33.3 years

Nebraska

• Annual expenditures: $55,761
• Years $2 million will last: 35.9
• National average: 33.3 years

North Dakota

• Annual expenditures: $55,340
• Years $2 million will last: 36.1
• National average: 33.3 years