California Retirement: How Far $1M Goes

In California, $1M in retirement savings was estimated to last ~12 yr in 2026, placing the state as the US’s third-most expensive for retirees.
That estimate improved from ~9 yr in the prior year, as annual retirement spending in California was put at ~$84K for 2026 versus ~$102K.
California’s listed yearly costs included housing at ~$24K, health care ~$8K, transportation ~$7K, utilities ~$6.5K, and groceries ~$5.6K for retiree living expenses statewide.
The broader takeaway: California’s everyday costs, from housing and groceries to gas and utilities, can draw down retirement savings quickly for retirees.
The estimate was based on national avg. spending for people 65+ in every state, using federal spending data and state cost comparisons.