Have $500000 for retirement? You don't want to live in Oregon — or these other 9 expensive states – OregonLive.com
By Douglas Perry | The Oregonian/OregonLive | Posted July 10, 2018 at 07:19 AM
Downtown Portland (AP photo)
It’s been another long week — and it’s only Tuesday. So maybe you’re thinking about quitting the rat race. Is $500,000 enough to retire on? Not if you’re living in Oregon.
GOBankingRates crunched the numbers on spending averages for retirees and the cost of living in each state to determine how long $500,000 in savings would last. The analysis is based on all spending coming from savings, with no income from Social Security or other sources. It also appears to assume that your nest egg is stuck under the mattress rather than earning (or losing) value in the stock market.
With those caveats, here are the states where $500,000 will buy you the least time before your savings runs dry.
10 most expensive states for retirement
10. New Jersey
$500,00 will last 8 years, six months
Read More Here...