Oklahoma ranks 5th in how long $1 million lasts when paired with Social Security

A recent Nasdaq article looked at how far $1 million in retirement savings, combined with Social Security benefits, can go in every state. In that analysis, Oklahoma ranked fifth in terms of how long those funds would last—with an estimated 71.18 years of financial runway. 

That figure is based in part on an average monthly expenditure of $1,832 and an annual post–Social Security cost of living estimate of $14,048 for a single person in Oklahoma. 

Oklahoma’s ranking puts it just ahead of states such as Kentucky, Alabama and Iowa. For example, Iowa’s estimated longevity for the same savings and Social Security mix is 65.97 years. On the other end of the spectrum, in Hawaii, that financial package would last only 12.48 years under the same assumptions. 

While studies like this rely on many assumptions—including stable expenses and no major emergencies—they offer perspective on Oklahoma’s relatively lower cost of living and how it can benefit retirees. 

For more information, or to view the full rankings, view the Nasdaq article here: How Far $1 Million in Retirement Savings Plus Social Security Goes in Every State.