Congratulations! You’ve reached retirement age with a nest egg of $1 million. Now comes the fun part: deciding where to spend your golden years. But before you dive into that bucket list that’s been lying around for a lifetime, here’s a tip! The cost of living can vary dramatically across the U.S., meaning that a million bucks could translate to a life of luxury in one place or a more modest but still comfortable retirement in another. So, to help you maximize your hard-earned savings, we’ve got the top 15 U.S. locations where your well-deserved million will go the farthest, based on a 2024 study by GoBankingRates:

Mississippi

The Magnolia State takes the crown for affordable retirement living. A combination of low housing costs, groceries, and healthcare means your $1 million could last a whopping 22.8 years. Plus, did you know Mississippi boasts the second-lowest property taxes in the nation, according to a 2023 Tax Foundation report? That’s more money in your pocket for those dream retirement adventures!

Oklahoma

The Sooner State offers a friendly atmosphere, beautiful scenery like the Wichita Mountains Wildlife Refuge, and a low cost of living. Here, your million-dollar nest egg could comfortably last an estimated 22.5 years.

Kansas

Life truly is sweet in Kansas! This Midwestern gem boasts affordable housing, a low cost of living, and a strong sense of community. According to a 2023 survey by Apartment List, the average rent for a two-bedroom apartment in Kansas City is 32% lower than the national average. That’s more money for exploring all that Kansas has to offer, from visiting the iconic Oz Museum in Wichita to hiking the scenic trails of Tallgrass Prairie National Preserve.

Alabama

Southern charm and affordability go hand-in-hand in Alabama. From the beautiful beaches of Gulf Shores to the historic charm of Montgomery, Alabama offers a variety of retirement living options without breaking the bank. Here, your million bucks could stretch for 22.3 years.

Iowa

The Hawkeye State is known for its friendly people, picturesque landscapes, and, of course, delicious corn. But that’s not all; Iowa also offers a low cost of living, allowing your $1 million to potentially last 22.2 years in retirement. Plus, healthcare costs in Iowa are consistently below the national average, according to a 2023 report by AARP.

Arkansas

The Natural State is a haven for outdoor enthusiasts, with stunning mountains like the Ozarks, beautiful lakes for fishing and boating, and lush forests to explore. Plus, the cost of living is low, making Arkansas an attractive option for retirees. Here, your million-dollar savings could last 22.1 years. Did you know retirees in Arkansas also benefit from a tax-free exemption on Social Security income? That’s a sweet perk for your golden years!

Missouri

The Show Me State offers a vibrant cultural scene in cities like Kansas City and St. Louis, friendly Midwestern charm, and a budget-friendly retirement lifestyle. In Missouri, your $1 million could see you through 22 years of retirement. If you’re looking for a small-town atmosphere, Missouri also boasts charming towns with affordable housing options.

Georgia

The Peach State is a great choice for retirees seeking a warm climate, beautiful scenery like the Blue Ridge Mountains, and a low cost of living. With its friendly Southern hospitality, Georgia could be the perfect place to stretch your retirement savings for an estimated 21.9 years. Plus, Georgia is known for its delicious and affordable Southern cuisine, so you can enjoy all the local flavors without breaking the bank.

South Carolina

Enjoy the charm of the South Carolina coast without the hefty price tag. Here, your million dollars could last an estimated 21.8 years. South Carolina boasts beautiful beaches, historic cities like Charleston, and a generally low cost of living. Did you know a 2023 study by Realtor.com found that South Carolina has the highest number of golf courses per capita in the U.S.? Perfect for retirees who enjoy hitting the links!

Tennessee

The Volunteer State offers a variety of landscapes, from the Great Smoky Mountains to the rolling hills of wine country. Tennessee also boasts a low cost of living, with your $1 million potentially lasting 21.7 years in retirement. Music lovers will appreciate Tennessee’s rich musical heritage, with Nashville being the center of country music and Memphis offering a vibrant blues scene.

North Dakota

The Great Plains state might surprise you! North Dakota boasts stunning scenery like Theodore Roosevelt National Park, a low cost of living, and a strong sense of community. Retirees in North Dakota benefit from no state income tax, according to a 2024 Tax Foundation report. This translates to more money in your pocket to explore all the state has to offer, from visiting historical sites like Fort Abraham Lincoln to attending the annual Fargo Film Festival.

Kentucky

Beyond the excitement of the Kentucky Derby, this state offers rolling hills, bluegrass countryside, and a friendly Southern atmosphere. The cost of living is significantly lower than the national average, meaning your $1 million could stretch for an estimated 21.5 years. Food enthusiasts will love Kentucky’s unique cuisine, from mouthwatering barbeque to authentic burgoo stew.

Ohio

The Buckeye State offers a variety of cultural attractions in cities like Cleveland and Cincinnati, along with a lower cost of living compared to the coasts. Here, your million-dollar nest egg could last 21.4 years. Ohio is also home to some hidden natural gems, like Hocking Hills State Park, with its stunning waterfalls and caves.

Louisiana

Experience Louisiana’s unique culture and delicious cuisine without the big-city price tag (looking at you, New Orleans!). The state offers beautiful scenery like the Cajun and Creole bayous, a rich musical heritage, and a vibrant festival scene. The cost of living is below the national average, meaning your million bucks could potentially last 21.3 years in retirement.

Texas

The Lone Star State offers a variety of landscapes, from the bustling cities of Houston and Austin to the wide-open spaces of the Hill Country. While Texas has some pricier pockets, many affordable retirement communities exist throughout the state. Here, your $1 million could see you through an estimated 21.2 years of retirement. Plus, Texas boasts no state income tax, which can be a major financial advantage for retirees.