Here’s how long retirement savings will last in your state

The American Association of Retired Persons suggests the average working American accumulate 10 to 12 times their current annual income by the time of retirement.

Likewise, the organization says people should aim toward a goal of $1 million or more in savings in order to live comfortably after they discontinue work.

Retirees should have ‘at least 100 percent of their pre-retirement income each year for at least the first 10 years after,’ managing principal at EisnerAmper Wealth Advisor, Dan Yu, said in a statement.

While the numbers may seem daunting in the big picture, experts say the goal may be achievable if people are responsible with their finances and plan for their future.

With average target savings being $1million, how long should retirees expect the money to last?

GoBankingRates.com calculated the predictions by averaging the total needed expenditures for retirees aged 65 and up. From there, they multiplied that number by the living index cost for each region to give a careful estimate.

Here’s what the report showed:

The American Association of Retired Persons suggests the average working American accumulate 10 to 12 times their current annual income by the time of retirement

California 

$1 million will last: 16 years, 5 months

New York 

$1 million will last: 17 years, 1 month 

Connecticut 

$1 million will last: 17 years, 4 months 

Oregon 

$1 million will last: 17 years, 7 months 

New Jersey 

$1 million will last: 18 years, 6 months 

New Hampshire 

$1 million will last: 19 years 

Washington 

$1 million will last: 21 years, 1 month 

Pennsylvania 

$1 million will last: 21 years, 11 months 

Colorado 

$1 million will last: 22 years 

South Carolina 

$1 million will last: 22 years, 3 months 

Illinois 

$1 million will last: 23 years, 1 month 

Arizona 

$1 million will last: 23 years, 2 months 

Wisconsin 

$1 million will last: 23 years, 3 months 

West Virginia 

$1 million will last: 23 years, 6 months

 Montana 

 $1 million will last: 22 years, 10 months

Utah 

$1 million will last: 23 years, 10 months 

Louisiana 

$1 million will last: 23 years, 10 months 

Ohio 

$1 million will last: 24 years, 2 months 

Kansas 

$1 million will last: 24 years, 7 months 

Alabama 

$1 million will last: 24 years, 9 months 

Texas 

$1 million will last: 24 years, 9 months  

Florida

$1 million will last: 22 years, 4 months 

Arkansas 

$1 million will last: 25 years, 6 months 

Michigan 

$1 million will last: 25 years 

Mississippi

$1 million will last: 26 years, 4 months