California stood out as a place where $1M in retirement savings may not stretch far, driven by steep housing costs and high living expenses.
Housing carried much of the pressure, with California's avg. home price ~$775K, a level that can quickly reshape retirement budgets and downsizing decisions.
California also taxes many forms of retirement income, adding another layer of strain for some households already balancing housing, health care, and daily expenses.
For retirees, that mix meant a $1M portfolio would likely be depleted years sooner in California than in lower-cost states with lighter expenses.
For Californians still planning ahead, using state-specific projections and considering downsizing, relocation, or a later retirement could help savings last meaningfully longer.