Study: Here’s how long $1M retirement savings lasts in Missouri and Arkansas

FAYETTEVILLE, Ark. (KNWA/KFTA) — Many adults working look forward to retirement and according to a new report, some will be able to retire sooner depending on where they live.

GOBankingRates, a personal finance resource website, recently found that $1 million in retirement savings can last anywhere from 12 to 88 years.

The more than 70-year difference depends on where you live.

GOBankingRates looked at how far $1 million goes, including social security benefits, in each state and used data from the U.S. Census, Bureau of Labor Statistics and Missouri Economic and Research Information Center.

The study analyzed the cost of living data, like groceries, health care, housing, utilities, transportation and other factors.

The full article is available at ozarksfirst.com.

(Story by Kyler Swaim, Drew Tasset, KNWA/KFTA, found at ozarksfirst.com)