$1 million in the bank isn't enough to retire in these states

A new study by a site specializing in personal finance shows just how expensive retirement can be in some areas of the country.

According to the GoBankingRates report, even $1 million in the bank may not be enough to live out the golden years in certain states.

In California for example, a million bucks is expected to last about 12 years, eight months and five days when factoring in current costs for living and medical expenses.

The report estimated annual costs of $5,387 for groceries, $22,530 for housing, $5,202 for utilities, $6,283 for transportation, and $8,226 for healthcare. Total cost: $80,000 per year.

Retirement in New York is only slightly more affordable, with $1 million expected to last 13 years, eight months and one day.

Hawaii ranked worst of all, with seniors expected to burn through that amount in nine years, seven months and 25 days.

Texas and states in the southeast fared considerably better. Texan retirees can expect to survive 18 years, seven months and seven days on that cool million. Alabama, Florida, Georgia, Mississippi, and North and South Carolina would all allow someone to live at least 17 years on that amount.

West Virginia rated tops overall, with a million dollars expected to last 20 years, three months and 19 days in the Mountain State.