SmartAsset calculated the average cost of living for

18 Jan SmartAsset calculated the average cost of living for

canada goose 22 American cities where $1 million goes the furthest during retirement Myelle Lansat Sep. 21, 2018, 11:25 AM $1 million can last retirees 28 years or more in 22 US cities. NadyaEugene/Shutterstock It is getting harder to retire with only $1 million saved up. SmartAsset calculated the average cost of living for retirees to see how many years $1 million would last in over 250 cities. Southern states dominated the list, with Texas claiming the most spots. Major cities in Texas have affordable housing markets and the state is home to many of the best places to live in 2018, according to US News. It is getting harder to retire with only $1 million saved up. Ten years ago, $1 million had the same buying power of just under $1.2 million, according to the Bureau of Labor Statistics inflation calculator. In a new study, SmartAsset calculated the average cost of living for retirees to see how many years $1 million would last in over 250 big and mid-sized US cities. SmartAsset looked at average annual expenses for seniors throughout the country and applied cost of living data on housing, food, healthcare, transportation, and utilities. To determine how long $1 million would last in each city, SmartAsset assumed $1 million would grow at 2% rate of return (that’s interest minus inflation). The sum of each annual number was divided by $1 million to calculate how many years it would last retirees. Southern states dominated the list, with Texas claiming the most spots. Major cities in Texas have affordable housing markets and the state is home to many of the best places to live in 2018, according to US News. Below, check out the top 22 cities where $1 million would last retirees 28 years or more, along with the average annual expenses for housing, food, and healthcare. 1/ 22. Salina, Kansas — 28.16 years City of Salina/Facebook Housing expenses: $6,463 Food expenses: $5,214 Healthcare expenses: $5,839 2/ 21. Burlington, Iowa — 28.20 years Erin Cogswell/Shutterstock Housing expenses: $5,936 Food expenses: $5,493 Healthcare expenses: $6,222 3/ 20. Oklahoma City, Oklahoma — 28.24 years Austin Urton/Shutterstock Housing expenses: $6,599 Food expenses: $5,426 Healthcare expenses: $5,789 4/ 19. Brownsville, Texas — 28.30 years Roberto Galan/Shutterstock Housing expenses: $6,954 Food expenses: $5,323 Healthcare expenses: $5,576 5/ 17 (TIE). Sherman, Texas — 28.38 years Sherman, Texas – Classic Town. Broad Horizon./Facebook Housing expenses: $6,545 Food expenses: $5,935 Healthcare expenses: $5,720 6/ 17 (TIE). Danville, Virginia — 28.38 years Danville, VA – Government/Facebook Housing expenses: $7,581 Food expenses: $5,856 Healthcare expenses: $5,990 7/ 16. Muskogee, Oklahoma — 28.44 years Muskogee Public Schools/Facebook Housing expenses: $6,608 Food expenses: $6,014 Healthcare expenses: $5,551 8/ 15. Pittsburg, Kansas — 28.55 years City of Pittsburg, Kansas/Facebook Housing expenses: $5,963 Food expenses: $6,008 Healthcare expenses: $5,576 9/ 14. Ashland, Ohio — 28.75 years Ashland Main Street/Facebook Housing expenses: $5,299 Food expenses: $6,020 Healthcare expenses: $5,356 10/ 13. Jonesboro, Arkansas — 28.85 years City of Jonesboro, AR – Government/Facebook Housing expenses: $6,745 Food expenses: $5,511 Healthcare expenses: $5,143 11/ 12. Statesboro, Georgia — 28.87 years Visit Statesboro!/Facebook Housing expenses: $6,427 Food expenses: $5,493 Healthcare expenses: $5,124 12/ 11. Martinsville, Virginia — 28.95 years VisitMartinsville/Facebook Housing expenses: $6, 508 Food expenses: $5,547 Healthcare expenses: $5,488 13/ 10. Memphis, Tennessee — 29.12 years Reuters Housing expenses: $5,981 Food expenses: $5,529 Healthcare expenses: $5,343 14/ 9. Hattiesburg, Mississippi — 29.47 Visit Hattiesburg Housing expenses: $6,454 Food expenses: $6,008 Healthcare expenses: $5,701 15/ 8. Knoxville, Tennessee — 29.75 years iStock / Sean Pavone Housing expenses: $6,527 Food expenses: $5,226 Healthcare expenses: $5,500 16/ 7. Wichita Falls, Texas — 29.78 years Fakhrurrazi Ibrahim/Shutterstock Housing expenses: $6,345 Food expenses: $5,099 Healthcare expenses: $5 Canada Goose outlet online ,576 17/ 6. Kalamazoo, Michigan — 29.84 years Discover Kalamazoo Housing expenses: $5,509 Food expenses: $4,899 Healthcare expenses: $5,708 18/ 5. Tupelo, Mississippi — 30.05 years My Tupelo/Facebook Housing expenses: $6,263 Food expenses: $5,505 Healthcare expenses: $5 www.kabbalah-arizal.nl ,883 19/ 4. Conway, Arkansas — 31.28 years Photolitherland/Wikimedia Commons Housing expenses: $5,881 Food expenses: $5,226 Healthcare expenses: $5,394 20/ 3. Richmond, Indiana — 31.30 years City of Richmond, Indiana/Facebook Housing expenses: $5,672 Food expenses: $5,650 Healthcare expenses: $4,759 21/ 2. Harlingen, Texas — 31.68 years Harlingen Homes/Facebook Housing expenses: $6,154 Food expenses: $4,996 Healthcare expenses: $5,519 22/ 1. McAllen, Texas — 33.03 years Visit McAllen/Facebook Housing expenses: $5,681 Food expenses: $5,039 Healthcare expenses: $4,646 Previous 1/ Next SEE ALSO: How much money you need to retire early depends almost entirely on 2 factors SEE ALSO: 5 small changes to your retirement savings that get big results canada goose parka