You can stretch a retirement nest egg farther than you think by choosing the right place to live. This article shows seven states where you can realistically retire at 65 with under $1 million, helping you weigh cost, taxes, and everyday expenses so your savings last.
Expect practical comparisons and clear trade-offs so you can match lifestyle priorities with affordable locations like small cities and rural areas. Use this guide to see which states make your dollars work harder without sacrificing the comforts you want.
West Virginia
You can stretch retirement savings farther in West Virginia thanks to low housing and living costs.
Median home prices and modest monthly expenses make $1 million go further here than in many states.
Enjoy plenty of outdoor recreation and small-town communities that keep daily life affordable.
If you rely on Social Security plus savings, consider towns with lower property taxes and cheap rentals to maximize income.
See data on state retirement costs for more specifics: U.S. states where you can retire at 65 with less than $1 million.
Oklahoma
You can stretch retirement dollars farther in Oklahoma thanks to a low cost of living and affordable housing.
Social Security plus modest savings often covers basics, though you should budget for healthcare and occasional travel.
Consider smaller cities like Tulsa or Lawton where housing and daily expenses sit well below coastal averages.
Check local tax rules and Medicare options to firm up your expected monthly costs.
Arkansas
You can stretch retirement savings farther in Arkansas thanks to a low cost of living and affordable housing.
Healthcare access is reasonable in many towns, though you should check specialists near where you plan to live.
Estimates show $1 million can last significantly longer there than in coastal states, so retiring at 65 with under $1 million is realistic if you budget carefully and pick the right community.
Mississippi
You can stretch retirement savings farther in Mississippi thanks to low housing and daily costs.
Social Security goes further, so your $1 million—or less—covers more essentials than in pricey states.
Pick towns carefully: some areas have higher poverty and fewer services, which affects healthcare access.
For cost comparisons and state-by-state figures, see the CNBC breakdown of minimum savings needed to retire at 65 in every U.S. state.
Kentucky
You can stretch retirement dollars in Kentucky because housing and everyday costs sit below the national average.
Social Security covers a larger share of basic expenses here, so your nest egg doesn’t have to work as hard.
If you prefer smaller cities or rural areas, your money goes further for housing, groceries, and services.
Keep in mind health-care access varies by county, so factor local medical costs into your plan.
Consider living where property taxes and utilities stay low to preserve savings longer.
Alabama
You can stretch retirement dollars farther in Alabama thanks to low housing and living costs.
Social Security covers a larger share of typical expenses there, so your nest egg doesn’t have to work as hard.
Look for affordable towns with good medical access to keep healthcare costs manageable.
If you downsize or tap state tax advantages, retiring at 65 with under $1 million becomes realistic.
Tennessee
You can stretch retirement dollars in Tennessee thanks to relatively low housing and living costs.
Expect modest property taxes and no state income tax on wages, which helps your Social Security and retirement payouts go further.
Cities like Memphis and Knoxville offer affordable housing and basic amenities without big metro prices.
If you value outdoor access and lower everyday expenses, Tennessee often ranks among places where $1 million lasts longer (see analysis of state retirement costs).
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