Are you as ready for retirement as you think? If you plan to stay in Michigan, odds are you are pretty set!

As reported by Yahoo Finance a recent study done by GOBankingRates broke down the states your hard-earned retirement money goes the farthest.

Michigan came in as the third state where your money lasts the longest into retirement behind Mississippi (#1) and Oklahoma.

According to the data, with an "annual expenditure" of $40,586, your $100,000 in retirement savings could last you two years, five months and 17 days.

While Florida is one of the more common "stereotypical" places to retire, it actually ranked 27th on the list but California and Hawaii ranked last with $100,000 lasting only  up to a year and a half.

If you are planning to move for retirement, cost of living is definitely important to consider but also make sure your retirement savings can cover other expenses like moving itself, possibly a new mortgage and more.

Maybe it's the scenic views, the beautiful summers or our winters that show us what we are made of but we would have to agree our Great Lakes State seems like a great place to settle down and enjoy retirement.

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