Ask American workers who participate in their employer's 401(k) retirement plan how much money they will need to save in order to retire comfortably, and they will tell you $1.9 million. That's a lot of money, and even the more conventional estimate of at least $1 million is out of the ballpark for many people. A recent study from GoBankingRates dialed the figure down to what it said is a more realistic picture of retirement finances by exploring how long $500,000 would last in every state across the country. The personal finance site's researchers analyzed the average spending of people 65 and older on housing, groceries, utilities, transportation, and health care as well as the cost of living across the country. See the gallery above to find out how long half a million dollars will last in the 12 states with the lowest cost of living for retirees. Related: 

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