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How much do you need to retire? One rule is that by age 60, you should have 7-9 times your desired income saved, and by age 65, you should have 8-11 times that income. That means if you want $100,000 a year, you'll need $1 million.

In 2021, workplace retirement plan manager Fidelity Investments reported an all-time high in its number of 401(k)s and IRAs that had a $1 million balance, in about a third of the accounts.

But in the most recent 2019 Survey of Consumer Finances, the median household retirement savings for ages 55-64 is just $134,000, and for ages 65-74 is $164,000. And only about half of all American families even have retirement accounts, according to Federal Reserve data from 2019.

The commonly cited 4% rule -- albeit one that many retirement advisers say is outdated -- says if you have $1 million, you can withdraw 4% every year and not run out of money. That’s $40,000 a year, before taxes, plus hopefully you’re getting Social Security. Is that enough? It depends on many factors, including where you live.

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This list takes a look at how long a cool million will last in the 50 most populated U.S. cities. To calculate it, GOBankingRates multiplied the annual expenditures for someone 65 and older by each city’s overall cost of living index. This annual expenditure figure then was reduced by the average annual Social Security benefits a retiree would receive. The final annual expenditure minus the Social Security benefits total was divided it into 1 million to get the years, months and days that $1 million would last in retirement for each city. The data come from the Bureau of Labor Statistics’ 2018 Consumer Expenditure Survey, the Social Security Administration, and Sperling’s Best Places.

Life expectancy in the U.S. was 78.8 years in 2019, according to the CDC. (It dropped to 77 in 2020.) But many retirement advisers recommend planning to live well into your 90s. After all, do you really want to be 95 and suddenly run out of money?

Based on the data from GoBankingRates, here’s how long $1 million will last in 50 U.S. cities. 

25 san francisco palace sh
san jose calif sjsu sh
24  432 Park Avenue New York city sh
Oakland, Calif sh
los angeles calif sh
24 seattle wash sh
CH boston tea party museum Jay Yuan : Shutterstock
23 Long beach calif sh
17 san diego sh
1 washington DC georgetown U sh
16 portland oregon ARTYOORAN : Shutterstock
10 Denver sh
28 miami sh
austin texas sh
8 sacramento calif Cynthia Liang : Shutterstock
las vegas nevada sh
14 atlanta Sean Pavone : Shutterstock
4 Chicago sh
Minneapolis, Minnesota
3 virginia beach sh
34 Colorado springs SH
mesa ariz golf sh
1 phoenix botanical garden KateK89 : Shutterstock.
fresno calif sh
4 Raleigh nc sh
28 dallas texas Trong Nguyen : Shutterstock
19 nashville tenn sh
30 philadelphia CEW : Shutterstock
20 arlington texas stadium CK Foto : Shutterstock
19 fort worth texas sh
Charlotte, North Carolina
21 houston sh
GRR louisiana new orleans Ancha Chiangmai : Shutterstock
Jacksonville Florida sh
9 golf tucson arizona sh
9 new mexico albuquerque  Sean Pavone : Shutterstock
1 omaha nebraska sh
19 san antonio texas Sh
29 Baltimore Maryland sh
5 louisville kentucky 4kclips : Shutterstock
1 detroit EQRoy : Shutterstock
kansas city mo sh
28 columbus ohio aceshot1 : Shutterstock
19 Oklahoma City dog bike sh
22. Milwaukee Wisconsin sh
10 Indianapolis sh
7 Tulsa 2 Svineyard : Shutterstock.com
90 wichita kansas sh
18 el paso texas sh
memphis tenn  f11photoSH