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Personal Finance FAQ

How Much Should You Have Saved to Retire? It Depends on Where You Live

Moving truck
Is it time to call the movers to hit your retirement number?

After I sold my company, my wife and I started thinking about whether or not we wanted to stay in Charlottesville, Virginia. Someone had told us that Charlottesville was the second most expensive city in the state of Virginia (it turns out to be the 7th most expensive city in Virginia), and once, while visiting my wife’s family, we’d gone out to an oyster restaurant where the oysters were $1 each. I was convinced that the Dallas-Fort Worth area was much cheaper, so our nest egg would extend further.

While many people have taken geographic arbitrage beyond international boundaries to make their money last longer, we weren’t quite ready to make that big of a leap. After all, we had a dog who depended on us, and whom we loved, and we couldn’t go traipsing off to lands anew without having to do through all sort of quarantine pains.

So, we decided, in no small part to our perception that the Dallas-Fort Worth area was cheaper than Charlottesville, to move to Texas.

I still don’t own cowboy boots. The last time I owned cowboy boots was when I was 5 years old, and I wore them to gymnastics class. That’s another story for another day.

Now that we’re much more in retirement mode, we’re not looking so hard at moving, although, after having lived overseas during my Army time, I’m still allured by international living.

However, having always known in the back of my head that different places had different costs of living, I have often wondered how far my retirement dollars would stretch in other places in the United States.

So, using publicly available information from Numbeo, smartasset, and Zillow, I added some spreadsheet wizardry, if I do say so myself, and determined how much you would need to save in order to retire in 252 of the 300 most populous cities in the United States. I had to leave out 48 due to insufficient information, so if you live in one of those cities, or one that does not reach the top 300 threshold, I’m sorry for leaving you out!

If you’ve ever considered geographic arbitrage for retirement or just wondered if your nest egg could last you the same amount if you moved somewhere else, this research should give you a good idea of how much you need to save to retire in different cities in the United States.

The best way to use this is to use your browser’s search function and search for a city. Then, click on the link, and you’ll be taken to the city you’re looking for. Want to search for another city? Use your browser’s search function to search for another one and click on the link. Search to your heart’s content!

Abilene, Texas
Akron, Ohio
Albuquerque, New Mexico
Alexandria, Virginia
Allen, Texas
Allentown, Pennsylvania
Amarillo, Texas
Anaheim, California
Anchorage, Alaska
Ann Arbor, Michigan
Antioch, California
Arlington, Texas
Athens, Georgia
Atlanta, Georgia
Augusta, Georgia
Aurora, Colorado
Aurora, Illinois
Austin, Texas
Bakersfield, California
Baltimore, Maryland
Baton Rouge, Louisiana
Beaumont, Texas
Bellevue, Washington
Berkeley, California
Billings, Montana
Birmingham, Alabama
Boise, Idaho
Boston, Massachusetts
Boulder, Colorado
Bridgeport, Connecticut
Brownsville, Texas
Buffalo, New York
Burbank, California
Cambridge, Massachusetts
Cary, North Carolina
Cedar Rapids, Iowa
Chandler, Arizona
Charleston, South Carolina
Charlotte, North Carolina
Chattanooga, Tennessee
Chesapeake, Virginia
Chicago, Illinois
Chula Vista, California
Cincinnati, Ohio
Clarksville, Tennessee
Clearwater, Florida
Cleveland, Ohio
College Station, Texas
Colorado Springs, Colorado
Columbia, Missouri
Columbia, South Carolina
Columbus, Georgia
Columbus, Ohio
Concord, California
Coral Springs, Florida
Corona, California
Corpus Christi, Texas
Costa Mesa, California
Dallas, Texas
Davenport, Iowa
Dayton, Ohio
Denton, Texas
Denver, Colorado
Des Moines, Iowa
Detroit, Michigan
Durham, North Carolina
Edison, New Jersey
El Cajon, California
Elk Grove, California
El Paso, Texas
Eugene, Oregon
Evansville, Indiana
Everett, Washington
Fairfield, California
Fargo, North Dakota
Fayetteville, North Carolina
Fontana, California
Fort Collins, Colorado
Fort Lauderdale, Florida
Fort Wayne, Indiana
Fort Worth, Texas
Fremont, California
Fresno, California
Frisco, Texas
Gainesville, Florida
Garden Grove, California
Garland, Texas
Glendale, Arizona
Glendale, California
Grand Rapids, Michigan
Greeley, Colorado
Green Bay, Wisconsin
Greensboro, North Carolina
Hartford, Connecticut
Hayward, California
Henderson, Nevada
High Point, North Carolina
Hillsboro, Oregon
Hollywood, Florida
Honolulu, Hawaii
Houston, Texas
Huntington Beach, California
Huntsville, Alabama
Independence, Missouri
Indianapolis, Indiana
Irvine, California
Irving, Texas
Jackson, Mississippi
Jacksonville, Florida
Jersey City, New Jersey
Kansas City, Missouri
Kent, Washington
Killeen, Texas
Knoxville, Tennessee
Lafayette, Louisiana
Lakeland, Florida
Lancaster, California
Lansing, Michigan
Laredo, Texas
Las Cruces, New Mexico
Las Vegas, Nevada
Lexington, Kentucky
Lincoln, Nebraska
Little Rock, Arkansas
Long Beach, California
Los Angeles, California
Louisville, Kentucky
Lubbock, Texas
Macon, Georgia
Madison, Wisconsin
Manchester, New Hampshire
McAllen, Texas
McKinney, Texas
Memphis, Tennessee
Mesa, Arizona
Miami, Florida
Midland, Texas
Milwaukee, Wisconsin
Minneapolis, Minnesota
Mobile, Alabama
Modesto, California
Montgomery, Alabama
Murfreesboro, Tennessee
Murrieta, California
Naperville, Illinois
Nashville, Tennessee
Newark, New Jersey
New Haven, Connecticut
New Orleans, Louisiana
Newport News, Virginia
New York, New York
Norfolk, Virginia
Norman, Oklahoma
Oakland, California
Oceanside, California
Odessa, Texas
Oklahoma City, Oklahoma
Omaha, Nebraska
Ontario, California
Orlando, Florida
Overland Park, Kansas
Oxnard, California
Palmdale, California
Springfield, Massachusetts
Pasadena, California
Paterson, New Jersey
Pembroke Pines, Florida
Peoria, Arizona
Peoria, Illinois
Philadelphia, Pennsylvania
Phoenix, Arizona
Pittsburgh, Pennsylvania
Plano, Texas
Pomona, California
Portland, Oregon
Port St. Lucie, Florida
Providence, Rhode Island
Pueblo, Colorado
Raleigh, North Carolina
Rancho Cucamonga, California
Reno, Nevada
Renton, Washington
Richmond, Virginia
Riverside, California
Rochester, Minnesota
Rochester, New York
Rockford, Illinois
Roseville, California
Sacramento, California
Saint Paul, Minnesota
Salem, Oregon
Salt Lake City, Utah
San Angelo, Texas
San Antonio, Texas
San Bernardino, California
San Diego, California
San Francisco, California
San Jose, California
San Mateo, California
Santa Ana, California
Santa Clarita, California
Santa Maria, California
Santa Rosa, California
Savannah, Georgia
Scottsdale, Arizona
Seattle, Washington
Shreveport, Louisiana
Simi Valley, California
Sioux Falls, South Dakota
South Bend, Indiana
Spokane, Washington
Springfield, Illinois
Springfield, Missouri
St. Louis, Missouri
St. Petersburg, Florida
Stamford, Connecticut
Sterling Heights, Michigan
Stockton, California
Sunnyvale, California
Surprise, Arizona
Syracuse, New York
Tacoma, Washington
Tallahassee, Florida
Tampa, Florida
Temecula, California
Tempe, Arizona
Thornton, Colorado
Thousand Oaks, California
Toledo, Ohio
Topeka, Kansas
Torrance, California
Tucson, Arizona
Tulsa, Oklahoma
Tuscaloosa, Alabama
Tyler, Texas
Vallejo, California
Vancouver, Washington
Ventura, California
Victorville, California
Virginia Beach, Virginia
Visalia, California
Waco, Texas
Warren, Michigan
Washington, District of Columbia
Waterbury, Connecticut
West Palm Beach, Florida
Wichita Falls, Texas
Wichita, Kansas
Wilmington, North Carolina
Winston–Salem, North Carolina
Woodbridge, New Jersey
Worcester, Massachusetts
Yonkers, New York

New York, New York

New York is my Lourdes, where I go for spiritual refreshment – a place where you’re least likely to be bitten by a wild goat.–Brendan Behan

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in New York, New York?

Cost of Living in New York, New York

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $4,578.34 per month. Rent in a 3-bedroom apartment in the city center is $6,436.09 per month, and rent outside the city center is $3,485.51. That’s probably the difference between living in Soho and living in Jamaica. So, we’ll split the difference and say that the average rent is $4,960.80 per month.Therefore, the total estimated cost of living for a four-person family in New York, New York is $9,539.14 per month. This translates into a $114,469.68 annual cost of living. So, in order to retire in New York while renting an apartment and abiding by the safe withdrawal rate, you would need $2,861,742.

Cost of Housing in New York, New York

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in New York? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $789,500. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In New York, New York, property taxes are 230.5 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $789,500 home, you won’t have to pay the $4,960.80 per month in rent, but you will have the following expenses:

  • Property taxes: $18,198 per year
  • Insurance: $3,315.90 per year
  • Home maintenance: $7,895.00 per year
  • Total: $29,408.88 per year, or $2,450.74 per month

Therefore, your cost of living in New York, New York, if you own a home will be $7,029.08 per month, or $84,348.96 per year. If you already own a house outright, then the amount you need to retire will be $2,108,724, and if you need to purchase the $789,500 home, then you will need $2,898,224. All of these retirement planning numbers are estimates.
If you live in Soho versus Jamaica, your numbers will vary. If you eat at Masa every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in New York.Need help saving for retirement? You can find a financial planner in New York to get you started on that path.

Los Angeles, California

I love Los Angeles, and I love Hollywood. They’re beautiful. Everybody’s plastic, but I love plastic. I want to be plastic.
–Andy Warhol

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Los Angeles, California?

Cost of Living in Los Angeles, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,595.24 per month. Rent in a 3-bedroom apartment in the city center is $3,895.10 per month, and rent outside the city center is $2,895.22. That’s probably the difference between living in Bel-Air and living in Echo Park. So, we’ll split the difference and say that the average rent is $3,395.16 per month.Therefore, the total estimated cost of living for a four-person family in Los Angeles, California is $6,990.40 per month. This translates into a $83,884.80 annual cost of living. So, in order to retire in Los Angeles while renting an apartment and abiding by the safe withdrawal rate, you would need $2,097,120.

Cost of Housing in Los Angeles, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Los Angeles? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $799,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Los Angeles, California, property taxes are 79.86 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $799,000 home, you won’t have to pay the $3,395.16 per month in rent, but you will have the following expenses:

  • Property taxes: $6,380.81 per year
  • Insurance: $3,355.80 per year
  • Home maintenance: $7,990.00 per year
  • Total: $17,726.61 per year, or $1,477.22 per month

Therefore, your cost of living in Los Angeles, California, if you own a home will be $5,072.46 per month, or $60,869.52 per year. If you already own a house outright, then the amount you need to retire will be $1,521,738, and if you need to purchase the $799,000 home, then you will need $2,320,738. All of these retirement planning numbers are estimates. If you live in Bel-Air versus Echo Park, your numbers will vary. If you eat at Providence every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Los Angeles.Need help saving for retirement? You can find a financial planner in Los Angeles to get you started on that path.

Chicago, Illinois

“Chicago is an October sort of city even in spring.”― Nelson Algren

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Chicago, Illinois?

Cost of Living in Chicago, Illinois

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,514.03 per month. Rent in a 3-bedroom apartment in the city center is $3,280.28 per month, and rent outside the city center is $1,992.30. That’s probably the difference between living in Lincoln Park and living in Riverdale. So, we’ll split the difference and say that the average rent is $2,636.29 per month.Therefore, the total estimated cost of living for a four-person family in Chicago, Illinois is $6,150.32 per month. This translates into a $73,803.84 annual cost of living. So, in order to retire in Chicago while renting an apartment and abiding by the safe withdrawal rate, you would need $1,845,096.

Cost of Housing in Chicago, Illinois

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Chicago? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $324,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Chicago, Illinois, property taxes are 248.57 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $324,900 home, you won’t have to pay the $2,636.29 per month in rent, but you will have the following expenses:

  • Property taxes: $8,076.04 per year
  • Insurance: $1,364.58 per year
  • Home maintenance: $3,249.00 per year
  • Total: $12,689.62 per year, or $1,057.47 per month

Therefore, your cost of living in Chicago, Illinois, if you own a home will be $4,571.50 per month, or $54,858.00 per year. If you already own a house outright, then the amount you need to retire will be $1,371,450, and if you need to purchase the $324,900 home, then you will need $1,696,350. All of these retirement planning numbers are estimates. If you live in Lincoln Park versus Riverdale, your numbers will vary. If you eat at Alinea every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Chicago.Need help saving for retirement? You can find a financial planner in Chicago to get you started on that path.

Houston, Texas

What was the first name of the Houston club? It wasn’t the Astros. It was the Colt .45s. A lot of guys now will say Colt 45 is a beer. But it was also a pistol, and it went right with Texas.
–Pat Gillick

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Houston, Texas?

Cost of Living in Houston, Texas

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,814.29 per month. Rent in a 3-bedroom apartment in the city center is $2,545.17 per month, and rent outside the city center is $1,626.58. That’s probably the difference between living in Midtown and living in Pecan Park. So, we’ll split the difference and say that the average rent is $2,085.88 per month.Therefore, the total estimated cost of living for a four-person family in Houston, Texas is $4,900.17 per month. This translates into a $58,801.98 annual cost of living. So, in order to retire in Houston while renting an apartment and abiding by the safe withdrawal rate, you would need $1,470,050.

Cost of Housing in Houston, Texas

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Houston? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $289,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Houston, Texas, property taxes are 190.89 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $289,900 home, you won’t have to pay the $2,085.88 per month in rent, but you will have the following expenses:

  • Property taxes: $5,533.90 per year
  • Insurance: $1,217.58 per year
  • Home maintenance: $2,899.00 per year
  • Total: $9,650.48 per year, or $804.21 per month

Therefore, your cost of living in Houston, Texas, if you own a home will be $3,618.50 per month, or $43,422.00 per year. If you already own a house outright, then the amount you need to retire will be $1,085,550, and if you need to purchase the $289,900 home, then you will need $1,375,450. All of these retirement planning numbers are estimates. If you live in Midtown versus Pecan Park, your numbers will vary. If you eat at Da Marco every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Houston.Need help saving for retirement? You can find a financial planner in Houston to get you started on that path.

Phoenix, Arizona

It’s a difficult world for lots of child actors, and it’s difficult to be a teenager under any circumstances. Add to that notoriety and fame, and things can go really wrong. But I had a terrific family and grew up very normal in Phoenix.
–Peter Billingsley (Ralphie from A Christmas Story

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Phoenix, Arizona?

Cost of Living in Phoenix, Arizona

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,933.66 per month. Rent in a 3-bedroom apartment in the city center is $1,782.27 per month, and rent outside the city center is $1,432.19. That’s probably the difference between living in RoRo and living in Arcadia. So, we’ll split the difference and say that the average rent is $1,607.23 per month.Therefore, the total estimated cost of living for a four-person family in Phoenix, Arizona is $4,540.89 per month. This translates into a $54,490.68 annual cost of living. So, in order to retire in Phoenix while renting an apartment and abiding by the safe withdrawal rate, you would need $1,362,267.

Cost of Housing in Phoenix, Arizona

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Phoenix? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $277,990. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Phoenix, Arizona, property taxes are 77.33 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $277,990 home, you won’t have to pay the $1,607.23 per month in rent, but you will have the following expenses:

  • Property taxes: $2,149.70 per year
  • Insurance: $1,167.56 per year
  • Home maintenance: $2,779.90 per year
  • Total: $6,097.16 per year, or $508.10 per month

Therefore, your cost of living in Phoenix, Arizona, if you own a home will be $3,441.76 per month, or $41,301.12 per year. If you already own a house outright, then the amount you need to retire will be $1,032,528, and if you need to purchase the $277,990 home, then you will need $1,310,518. All of these retirement planning numbers are estimates. If you live in RoRo versus Arcadia, your numbers will vary. If you eat at Durant’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Phoenix.Need help saving for retirement? You can find a financial planner in Phoenix to get you started on that path.

Philadelphia, Pennsylvania

I once spent a year in Philadelphia, I think it was on a Sunday.
–W. C. Fields

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Philadelphia, Pennsylvania?

Cost of Living in Philadelphia, Pennsylvania

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,809.91 per month. Rent in a 3-bedroom apartment in the city center is $2,836.25 per month, and rent outside the city center is $1,607.86. That’s probably the difference between living in Fishtown and living in Kensington. So, we’ll split the difference and say that the average rent is $2,222.06 per month.Therefore, the total estimated cost of living for a four-person family in Philadelphia, Pennsylvania is $6,031.97 per month. This translates into a $72,383.58 annual cost of living. So, in order to retire in Philadelphia while renting an apartment and abiding by the safe withdrawal rate, you would need $1,809,590.

Cost of Housing in Philadelphia, Pennsylvania

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Philadelphia? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $210,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Philadelphia, Pennsylvania, property taxes are 172.3 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $210,000 home, you won’t have to pay the $2,222.06 per month in rent, but you will have the following expenses:

  • Property taxes: $3,618.30 per year
  • Insurance: $882.00 per year
  • Home maintenance: $2,100.00 per year
  • Total: $6,600.30 per year, or $550.03 per month

Therefore, your cost of living in Philadelphia, Pennsylvania, if you own a home will be $4,359.94 per month, or $52,319.28 per year. If you already own a house outright, then the amount you need to retire will be $1,307,982, and if you need to purchase the $210,000 home, then you will need $1,517,982. All of these retirement planning numbers are estimates. If you live in Fishtown versus Kensington, your numbers will vary. If you eat at Scarpetta every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Philadelphia.Need help saving for retirement? You can find a financial planner in Philadelphia to get you started on that path.

San Antonio, Texas

The first thing I do when I get back to my hometown, San Antonio, is eat Whataburger.
–Austin Mahone

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in San Antonio, Texas?

Cost of Living in San Antonio, Texas

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,737.36 per month. Rent in a 3-bedroom apartment in the city center is $1,854.81 per month, and rent outside the city center is $1,365.50. That’s probably the difference between living in Southtown and living in Harlandale. So, we’ll split the difference and say that the average rent is $1,610.16 per month.Therefore, the total estimated cost of living for a four-person family in San Antonio, Texas is $4,347.52 per month. This translates into a $52,170.18 annual cost of living. So, in order to retire in San Antonio while renting an apartment and abiding by the safe withdrawal rate, you would need $1,304,255.

Cost of Housing in San Antonio, Texas

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in San Antonio? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $240,995. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In San Antonio, Texas, property taxes are 197.3 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $240,995 home, you won’t have to pay the $1,610.16 per month in rent, but you will have the following expenses:

  • Property taxes: $4,754.83 per year
  • Insurance: $1,012.18 per year
  • Home maintenance: $2,409.95 per year
  • Total: $8,176.96 per year, or $681.41 per month

Therefore, your cost of living in San Antonio, Texas, if you own a home will be $3,418.77 per month, or $41,025.24 per year. If you already own a house outright, then the amount you need to retire will be $1,025,631, and if you need to purchase the $240,995 home, then you will need $1,266,626. All of these retirement planning numbers are estimates. If you live in Southtown versus Harlandale, your numbers will vary. If you eat at La Cantera every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in San Antonio.Need help saving for retirement? You can find a financial planner in San Antonio to get you started on that path.

San Diego, California

San Diego is the best city in the world.
-Eric Weddle

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in San Diego, California?

Cost of Living in San Diego, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,204.38 per month. Rent in a 3-bedroom apartment in the city center is $3,244.44 per month, and rent outside the city center is $2,535.37. That’s probably the difference between living in Gaslamp Quarter and living in Mission Beach. So, we’ll split the difference and say that the average rent is $2,889.91 per month.Therefore, the total estimated cost of living for a four-person family in San Diego, California is $6,094.29 per month. This translates into a $73,131.42 annual cost of living. So, in order to retire in San Diego while renting an apartment and abiding by the safe withdrawal rate, you would need $1,828,286.

Cost of Housing in San Diego, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in San Diego? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $689,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In San Diego, California, property taxes are 79.3 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $689,000 home, you won’t have to pay the $2,889.91 per month in rent, but you will have the following expenses:

  • Property taxes: $5,463.77 per year
  • Insurance: $2,893.80 per year
  • Home maintenance: $6,890.00 per year
  • Total: $15,247.57 per year, or $1,270.63 per month

Therefore, your cost of living in San Diego, California, if you own a home will be $4,475.01 per month, or $53,700.12 per year. If you already own a house outright, then the amount you need to retire will be $1,342,503, and if you need to purchase the $689,000 home, then you will need $2,031,503. All of these retirement planning numbers are estimates. If you live in Gaslamp Quarter versus Mission Beach, your numbers will vary. If you eat at Mister A’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in San Diego.Need help saving for retirement? You can find a financial planner in San Diego to get you started on that path.

Dallas, Texas

As a child, I watched ‘Dallas’ and that was my vision for my life for as long as I could remember.
–Will Smith

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Dallas, Texas?

Cost of Living in Dallas, Texas

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,995.34 per month. Rent in a 3-bedroom apartment in the city center is $2,458.67 per month, and rent outside the city center is $1,731.38. That’s probably the difference between living in Uptown and living in Lower Greenville. So, we’ll split the difference and say that the average rent is $2,095.03 per month.Therefore, the total estimated cost of living for a four-person family in Dallas, Texas is $5,090.37 per month. This translates into a $61,084.44 annual cost of living. So, in order to retire in Dallas while renting an apartment and abiding by the safe withdrawal rate, you would need $1,527,111.

Cost of Housing in Dallas, Texas

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Dallas? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $370,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Dallas, Texas, property taxes are 65.65 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $370,000 home, you won’t have to pay the $2,095.03 per month in rent, but you will have the following expenses:

  • Property taxes: $2,429.05 per year
  • Insurance: $1,554.00 per year
  • Home maintenance: $3,700.00 per year
  • Total: $7,683.05 per year, or $640.25 per month

Therefore, your cost of living in Dallas, Texas, if you own a home will be $3,635.59 per month, or $43,627.08 per year. If you already own a house outright, then the amount you need to retire will be $1,090,677, and if you need to purchase the $370,000 home, then you will need $1,460,677. All of these retirement planning numbers are estimates. If you live in Highland Park versus south Dallas, your numbers will vary. If you eat at Nick and Sam’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Dallas.Need help saving for retirement? You can find a financial planner in Dallas to get you started on that path.

San Jose, California

You love the tank rockin’ and Nabokov Blockin’. You’re a Sharks fan.
-A random San Jose hockey lover

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in San Jose, California?

Cost of Living in San Jose, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,419.34 per month. Rent in a 3-bedroom apartment in the city center is $3,810.41 per month, and rent outside the city center is $3,497.16. That’s probably the difference between living in Japantown and living in Chaboya. So, we’ll split the difference and say that the average rent is $3,653.79 per month.Therefore, the total estimated cost of living for a four-person family in San Jose, California is $7,073.13 per month. This translates into a $84,877.50 annual cost of living. So, in order to retire in San Jose while renting an apartment and abiding by the safe withdrawal rate, you would need $2,121,938.

Cost of Housing in San Jose, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in San Jose? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $929,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In San Jose, California, property taxes are 86.6 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $929,000 home, you won’t have to pay the $3,653.79 per month in rent, but you will have the following expenses:

  • Property taxes: $8,045.14 per year
  • Insurance: $3,901.80 per year
  • Home maintenance: $9,290.00 per year
  • Total: $21,236.94 per year, or $1,769.75 per month

Therefore, your cost of living in San Jose, California, if you own a home will be $5,189.09 per month, or $62,269.08 per year. If you already own a house outright, then the amount you need to retire will be $1,556,727, and if you need to purchase the $929,000 home, then you will need $2,485,727. All of these retirement planning numbers are estimates. If you live in Japantown versus Chaboya, your numbers will vary. If you eat at Le Papillon every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in San Jose.Need help saving for retirement? You can find a financial planner in San Jose to get you started on that path.

Austin, Texas

Keep Austin weird.
-Nearly every Austin resident

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Austin, Texas?

Cost of Living in Austin, Texas

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,118.41 per month. Rent in a 3-bedroom apartment in the city center is $2,770.31 per month, and rent outside the city center is $1,749.64. That’s probably the difference between living in South Congress and living in East Austin. So, we’ll split the difference and say that the average rent is $2,259.98 per month.Therefore, the total estimated cost of living for a four-person family in Austin, Texas is $5,378.39 per month. This translates into a $64,540.62 annual cost of living. So, in order to retire in Austin while renting an apartment and abiding by the safe withdrawal rate, you would need $1,613,516.

Cost of Housing in Austin, Texas

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Austin? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $375,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Austin, Texas, property taxes are 197.3 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $375,000 home, you won’t have to pay the $2,259.98 per month in rent, but you will have the following expenses:

  • Property taxes: $7,398.75 per year
  • Insurance: $1,575.00 per year
  • Home maintenance: $3,750.00 per year
  • Total: $12,723.75 per year, or $1,060.31 per month

Therefore, your cost of living in Austin, Texas, if you own a home will be $4,178.72 per month, or $50,144.64 per year. If you already own a house outright, then the amount you need to retire will be $1,253,616, and if you need to purchase the $375,000 home, then you will need $1,628,616. All of these retirement planning numbers are estimates. If you live in South Congress versus East Austin, your numbers will vary. If you eat at the Driskill Grill every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Austin.Need help saving for retirement? You can find a financial planner in Austin to get you started on that path.

Jacksonville, Florida

“I love what Jacksonville taught me and where it led me. The good, the bad and the indifferent all helped shape me. I may not live there anymore but it lives inside me. It is and will always be my foundation.”― Carlos Wallace

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Jacksonville, Florida?

Cost of Living in Jacksonville, Florida

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,043.08 per month. Rent in a 3-bedroom apartment in the city center is $1,487.74 per month, and rent outside the city center is $1,286.81. That’s probably the difference between living in Riverside and living in Mayport. So, we’ll split the difference and say that the average rent is $1,387.28 per month.Therefore, the total estimated cost of living for a four-person family in Jacksonville, Florida is $4,430.36 per month. This translates into a $53,164.26 annual cost of living. So, in order to retire in Jacksonville while renting an apartment and abiding by the safe withdrawal rate, you would need $1,329,107.

Cost of Housing in Jacksonville, Florida

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Jacksonville? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $208,990. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Jacksonville, Florida, property taxes are 93.8 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $208,990 home, you won’t have to pay the $1,387.28 per month in rent, but you will have the following expenses:

  • Property taxes: $1,960.33 per year
  • Insurance: $877.76 per year
  • Home maintenance: $2,089.90 per year
  • Total: $4,927.99 per year, or $410.67 per month

Therefore, your cost of living in Jacksonville, Florida, if you own a home will be $3,453.75 per month, or $41,445.00 per year. If you already own a house outright, then the amount you need to retire will be $1,036,125, and if you need to purchase the $208,990 home, then you will need $1,245,115. All of these retirement planning numbers are estimates. If you live in Riverside versus Mayport, your numbers will vary. If you eat at the Sand Dollar every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Jacksonville.Need help saving for retirement? You can find a financial planner in Jacksonville to get you started on that path.

Fort Worth, Texas

”Fort Worth is friendly; it’s still a Texas town. It’s the most Texas city in Texas.”
–Dan Jenkins

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Fort Worth, Texas?

Cost of Living in Fort Worth, Texas

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,027.41 per month. Rent in a 3-bedroom apartment in the city center is $1,769.58 per month, and rent outside the city center is $1,461.07. That’s probably the difference between living in West 7th and living in Southside. So, we’ll split the difference and say that the average rent is $1,615.33 per month.Therefore, the total estimated cost of living for a four-person family in Fort Worth, Texas is $4,642.74 per month. This translates into a $55,712.82 annual cost of living. So, in order to retire in Fort Worth while renting an apartment and abiding by the safe withdrawal rate, you would need $1,392,820.50.

Cost of Housing in Fort Worth, Texas

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Fort Worth? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $259,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Fort Worth, Texas, property taxes are 232.1 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $259,000 home, you won’t have to pay the $1,615.33 per month in rent, but you will have the following expenses:

  • Property taxes: $6,011.39 per year
  • Insurance: $1,087.80 per year
  • Home maintenance: $2,590.00 per year
  • Total: $9,689.19 per year, or $807.43 per month

Therefore, your cost of living in Fort Worth, Texas, if you own a home will be $3,834.84 per month, or $46,018.08 per year. If you already own a house outright, then the amount you need to retire will be $1,150,452, and if you need to purchase the $259,000 home, then you will need $1,409,452. All of these retirement planning numbers are estimates. If you live in West 7th versus Benbrook, your numbers will vary. If you eat at Reata every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Fort Worth.Need help saving for retirement? You can find a financial planner in Fort Worth to get you started on that path.

Columbus, Ohio

Pete Dye introduced me to golf course design back in the 1960’s. He came to my hometown Columbus, Ohio to work on The Golf Club.
–Jack Nicklaus

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Columbus, Ohio?

Cost of Living in Columbus, Ohio

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,930.75 per month. Rent in a 3-bedroom apartment in the city center is $2,022.00 per month, and rent outside the city center is $1,300.95. That’s probably the difference between living in German Village and living in Franklinton. So, we’ll split the difference and say that the average rent is $1,661.48 per month.Therefore, the total estimated cost of living for a four-person family in Columbus, Ohio is $4,592.23 per month. This translates into a $55,106.70 annual cost of living. So, in order to retire in Columbus while renting an apartment and abiding by the safe withdrawal rate, you would need $1,377,668.

Cost of Housing in Columbus, Ohio

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Columbus? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $164,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Columbus, Ohio, property taxes are 137.9 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $164,900 home, you won’t have to pay the $1,661.48 per month in rent, but you will have the following expenses:

  • Property taxes: $2,273.97 per year
  • Insurance: $692.58 per year
  • Home maintenance: $1,649.00 per year
  • Total: $4,615.55 per year, or $384.63 per month

Therefore, your cost of living in Columbus, Ohio, if you own a home will be $3,315.38 per month, or $39,784.56 per year. If you already own a house outright, then the amount you need to retire will be $994,614, and if you need to purchase the $164,900 home, then you will need $1,159,514. All of these retirement planning numbers are estimates. If you live in German Village versus Franklinton, your numbers will vary. If you eat at the Guild House every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Columbus.Need help saving for retirement? You can find a financial planner in Columbus to get you started on that path.

San Francisco, California

“Anyone who doesn’t have a great time in San Francisco is pretty much dead to me. You go there as a snarky New Yorker thinking it’s politically correct, it’s crunchy granola, it’s vegetarian, and it surprises you every time. It’s a two-fisted drinking town, a carnivorous meat-eating town, it’s dirty and nasty and wonderful.”
― Anthony Bourdain

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in San Francisco, California?

Cost of Living in San Francisco, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $4,181.68 per month. Rent in a 3-bedroom apartment in the city center is $5,752.13 per month, and rent outside the city center is $4,348.03. That’s probably the difference between living in Mission District and living in Nob Hill. So, we’ll split the difference and say that the average rent is $5,050.08 per month.Therefore, the total estimated cost of living for a four-person family in San Francisco, California is $9,231.76 per month. This translates into a $110,781.12 annual cost of living. So, in order to retire in San Francisco while renting an apartment and abiding by the safe withdrawal rate, you would need $2,769,528.

Cost of Housing in San Francisco, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in San Francisco? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $1,249,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In San Francisco, California, property taxes are 79.3 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $1,249,000 home, you won’t have to pay the $5,050.08 per month in rent, but you will have the following expenses:

  • Property taxes: $9,904.57 per year
  • Insurance: $5,245.80 per year
  • Home maintenance: $12,490.00 per year
  • Total: $27,640.37 per year, or $2,303.36 per month

Therefore, your cost of living in San Francisco, California, if you own a home will be $6,485.04 per month, or $77,820.48 per year. If you already own a house outright, then the amount you need to retire will be $1,945,512, and if you need to purchase the $1,249,000 home, then you will need $3,194,512. All of these retirement planning numbers are estimates. If you live in Mission District versus Nob Hill, your numbers will vary. If you eat at Boulevard every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in San Francisco.Need help saving for retirement? You can find a financial planner in San Francisco to get you started on that path.

Charlotte, North Carolina

Barbecue is the third rail of North Carolina politics.
–John Shelton Reed

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Charlotte, North Carolina?

Cost of Living in Charlotte, North Carolina

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,402.35 per month. Rent in a 3-bedroom apartment in the city center is $2,207.95 per month, and rent outside the city center is $1,561.98. That’s probably the difference between living in NoDa and living in Eastover. So, we’ll split the difference and say that the average rent is $1,884.97 per month.Therefore, the total estimated cost of living for a four-person family in Charlotte, North Carolina is $5,287.32 per month. This translates into a $63,447.78 annual cost of living. So, in order to retire in Charlotte while renting an apartment and abiding by the safe withdrawal rate, you would need $1,586,195.

Cost of Housing in Charlotte, North Carolina

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Charlotte? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $285,970. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Charlotte, North Carolina, property taxes are 71.8 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $285,970 home, you won’t have to pay the $1,884.97 per month in rent, but you will have the following expenses:

  • Property taxes: $2,053.26 per year
  • Insurance: $1,201.07 per year
  • Home maintenance: $2,859.70 per year
  • Total: $6,114.03 per year, or $509.50 per month

Therefore, your cost of living in Charlotte, North Carolina, if you own a home will be $3,911.85 per month, or $46,942.20 per year. If you already own a house outright, then the amount you need to retire will be $1,173,555, and if you need to purchase the $285,970 home, then you will need $1,459,525. All of these retirement planning numbers are estimates. If you live in NoDa versus Eastover, your numbers will vary. If you eat at McNinch House every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Charlotte.Need help saving for retirement? You can find a financial planner in Charlotte to get you started on that path.

Indianapolis, Indiana

I watched the Indy 500, and I was thinking that if they left earlier they wouldn’t have to go so fast.
–Steven Wright

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Indianapolis, Indiana?

Cost of Living in Indianapolis, Indiana

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,019.21 per month. Rent in a 3-bedroom apartment in the city center is $1,710.16 per month, and rent outside the city center is $1,122.62. That’s probably the difference between living in Haughville and living in Raymond Park. So, we’ll split the difference and say that the average rent is $1,416.39 per month.Therefore, the total estimated cost of living for a four-person family in Indianapolis, Indiana is $4,435.60 per month. This translates into a $53,227.20 annual cost of living. So, in order to retire in Indianapolis while renting an apartment and abiding by the safe withdrawal rate, you would need $1,330,680.

Cost of Housing in Indianapolis, Indiana

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Indianapolis? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $165,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Indianapolis, Indiana, property taxes are 94.3 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $165,000 home, you won’t have to pay the $1,416.39 per month in rent, but you will have the following expenses:

  • Property taxes: $1,555.95 per year
  • Insurance: $693.00 per year
  • Home maintenance: $1,650.00 per year
  • Total: $3,898.95 per year, or $324.91 per month

Therefore, your cost of living in Indianapolis, Indiana, if you own a home will be $3,344.12 per month, or $40,129.44 per year. If you already own a house outright, then the amount you need to retire will be $1,003,236, and if you need to purchase the $165,000 home, then you will need $1,168,236. All of these retirement planning numbers are estimates. If you live in Haughville versus Raymond Park, your numbers will vary. If you eat at Hyde Park Prime Steakhouse every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Indianapolis.Need help saving for retirement? You can find a financial planner in Indianapolis to get you started on that path.

Seattle, Washington

Seattle is for people who love culture, but refuse to sacrifice their wild nature to attain it.–Kimberly Kinrade

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Seattle, Washington?

Cost of Living in Seattle, Washington

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,875.82 per month. Rent in a 3-bedroom apartment in the city center is $3,635.31 per month, and rent outside the city center is $2,569.23. That’s probably the difference between living in Pioneer Square and living in Fremont. So, we’ll split the difference and say that the average rent is $3,102.27 per month.Therefore, the total estimated cost of living for a four-person family in Seattle, Washington is $6,978.09 per month. This translates into a $83,737.08 annual cost of living. So, in order to retire in Seattle while renting an apartment and abiding by the safe withdrawal rate, you would need $2,093,427.

Cost of Housing in Seattle, Washington

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Seattle? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $678,265. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Seattle, Washington, property taxes are 102.5 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $678,265 home, you won’t have to pay the $3,102.27 per month in rent, but you will have the following expenses:

  • Property taxes: $6,952.22 per year
  • Insurance: $2,848.71 per year
  • Home maintenance: $6,782.65 per year
  • Total: $16,583.58 per year, or $1,381.96 per month

Therefore, your cost of living in Seattle, Washington, if you own a home will be $5,257.78 per month, or $63,093.36 per year. If you already own a house outright, then the amount you need to retire will be $1,577,334, and if you need to purchase the $678,265 home, then you will need $2,255,599. All of these retirement planning numbers are estimates. If you live in Pioneer Square versus Fremont, your numbers will vary. If you eat at Canlis every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Seattle.Need help saving for retirement? You can find a financial planner in Seattle to get you started on that path.

Denver, Colorado

I’m so absolutely pro-Denver. I wrote a fake hip-hop song about Denver. I’ve been claiming Denver. Part of the joke of the song is nobody was really claiming Denver – no rappers, no comedians.
–T. J. Miller

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Denver, Colorado?

Cost of Living in Denver, Colorado

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,270.14 per month. Rent in a 3-bedroom apartment in the city center is $2,807.96 per month, and rent outside the city center is $2,184.24. That’s probably the difference between living in LoDo and living in Cherry Creek. So, we’ll split the difference and say that the average rent is $2,496.10 per month.Therefore, the total estimated cost of living for a four-person family in Denver, Colorado is $5,766.24 per month. This translates into a $69,194.88 annual cost of living. So, in order to retire in Denver while renting an apartment and abiding by the safe withdrawal rate, you would need $1,729,872.

Cost of Housing in Denver, Colorado

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Denver? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $469,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Denver, Colorado, property taxes are 69.7 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $469,000 home, you won’t have to pay the $2,496.10 per month in rent, but you will have the following expenses:

  • Property taxes: $3,268.93 per year
  • Insurance: $1,969.80 per year
  • Home maintenance: $4,690.00 per year
  • Total: $9,928.73 per year, or $827.39 per month

Therefore, your cost of living in Denver, Colorado, if you own a home will be $4,097.53 per month, or $49,170.36 per year. If you already own a house outright, then the amount you need to retire will be $1,229,259, and if you need to purchase the $469,000 home, then you will need $1,698,259. All of these retirement planning numbers are estimates. If you live in LoDo versus Cherry Creek, your numbers will vary. If you eat at Cholon every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Denver.Need help saving for retirement? You can find a financial planner in Denver to get you started on that path.

Washington, District of Columbia

Washington, DC is to lying what Wisconsin is to cheese.
–Dennis Miller

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Washington, District of Columbia?

Cost of Living in Washington, District of Columbia

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $4,253.40 per month. Rent in a 3-bedroom apartment in the city center is $4,019.05 per month, and rent outside the city center is $2,898.50. That’s probably the difference between living in Eastern Market and living in Dupont Circle. So, we’ll split the difference and say that the average rent is $3,458.78 per month.Therefore, the total estimated cost of living for a four-person family in Washington, District of Columbia is $7,712.18 per month. This translates into a $92,546.10 annual cost of living. So, in order to retire in Washington while renting an apartment and abiding by the safe withdrawal rate, you would need $2,313,653.

Cost of Housing in Washington, District of Columbia

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Washington? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $575,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Washington, District of Columbia, property taxes are 57.2 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $575,000 home, you won’t have to pay the $3,458.78 per month in rent, but you will have the following expenses:

  • Property taxes: $3,289.00 per year
  • Insurance: $2,415.00 per year
  • Home maintenance: $5,750.00 per year
  • Total: $11,454.00 per year, or $954.50 per month

Therefore, your cost of living in Washington, District of Columbia, if you own a home will be $5,207.90 per month, or $62,494.80 per year. If you already own a house outright, then the amount you need to retire will be $1,562,370, and if you need to purchase the $575,000 home, then you will need $2,137,370. All of these retirement planning numbers are estimates. If you live in Eastern Market versus Dupont Circle, your numbers will vary. If you eat at Brasserie Beck every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Washington.Need help saving for retirement? You can find a financial planner in Washington DC to get you started on that path.

Boston, Massachusetts

Boston is an oasis in the desert, a place where the larger proportion of people are loving, rational and happy.
–Julia Ward Howe

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Boston, Massachusetts?

Cost of Living in Boston, Massachusetts

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,861.54 per month. Rent in a 3-bedroom apartment in the city center is $4,114.37 per month, and rent outside the city center is $2,768.90. That’s probably the difference between living in Back Bay and living in Beacon Hill. So, we’ll split the difference and say that the average rent is $3,441.64 per month.Therefore, the total estimated cost of living for a four-person family in Boston, Massachusetts is $7,303.18 per month. This translates into a $87,638.10 annual cost of living. So, in order to retire in Boston while renting an apartment and abiding by the safe withdrawal rate, you would need $2,190,953.

Cost of Housing in Boston, Massachusetts

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Boston? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $712,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Boston, Massachusetts, property taxes are 156.8 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $712,000 home, you won’t have to pay the $3,441.64 per month in rent, but you will have the following expenses:

  • Property taxes: $11,164.16 per year
  • Insurance: $2,990.40 per year
  • Home maintenance: $7,120.00 per year
  • Total: $21,274.56 per year, or $1,772.88 per month

Therefore, your cost of living in Boston, Massachusetts, if you own a home will be $5,634.42 per month, or $67,613.04 per year. If you already own a house outright, then the amount you need to retire will be $1,690,326, and if you need to purchase the $712,000 home, then you will need $2,402,326. All of these retirement planning numbers are estimates. If you live in Back Bay versus Beacon Hill, your numbers will vary. If you eat at Legal Sea Foods every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Boston.Need help saving for retirement? You can find a financial planner in Boston to get you started on that path.

El Paso, Texas

Those were hard times, but I loved living there. I would walk on the tracks, hopping, skipping. I enjoyed the neighborhood, I enjoyed El Paso. I remember being chased by tumbleweeds on windy days; they came up to my neck.
–Debbie Reynolds

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in El Paso, Texas?

Cost of Living in El Paso, Texas

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $1,943.71 per month. Rent in a 3-bedroom apartment in the city center is $951.76 per month, and rent outside the city center is $860.95. That’s probably the difference between living in Ysleta and living in Sunset Heights. So, we’ll split the difference and say that the average rent is $906.36 per month.Therefore, the total estimated cost of living for a four-person family in El Paso, Texas is $2,850.07 per month. This translates into a $34,200.78 annual cost of living. So, in order to retire in El Paso while renting an apartment and abiding by the safe withdrawal rate, you would need $855,020.

Cost of Housing in El Paso, Texas

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in El Paso? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $174,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In El Paso, Texas, property taxes are 197.3 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $174,900 home, you won’t have to pay the $906.36 per month in rent, but you will have the following expenses:

  • Property taxes: $3,450.78 per year
  • Insurance: $734.58 per year
  • Home maintenance: $1,749.00 per year
  • Total: $5,934.36 per year, or $494.53 per month

Therefore, your cost of living in El Paso, Texas, if you own a home will be $2,438.24 per month, or $29,258.88 per year. If you already own a house outright, then the amount you need to retire will be $731,472, and if you need to purchase the $174,900 home, then you will need $906,372. All of these retirement planning numbers are estimates. If you live in Ysleta versus Sunset Heights, your numbers will vary. If you eat at Cattleman’s Steakhouse every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in El Paso.Need help saving for retirement? You can find a financial planner in El Paso to get you started on that path.

Detroit, Michigan

I come from Detroit where it’s rough and I’m not a smooth talker.
–Eminem

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Detroit, Michigan?

Cost of Living in Detroit, Michigan

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,915.41 per month. Rent in a 3-bedroom apartment in the city center is $1,893.33 per month, and rent outside the city center is $1,339.29. That’s probably the difference between living in Greektown and living in Corktown. So, we’ll split the difference and say that the average rent is $1,616.31 per month.Therefore, the total estimated cost of living for a four-person family in Detroit, Michigan is $4,531.72 per month. This translates into a $54,380.64 annual cost of living. So, in order to retire in Detroit while renting an apartment and abiding by the safe withdrawal rate, you would need $1,359,516.

Cost of Housing in Detroit, Michigan

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Detroit? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $189,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Detroit, Michigan, property taxes are 163.2 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $189,900 home, you won’t have to pay the $1,616.31 per month in rent, but you will have the following expenses:

  • Property taxes: $3,099.17 per year
  • Insurance: $797.58 per year
  • Home maintenance: $1,899.00 per year
  • Total: $5,795.75 per year, or $482.98 per month

Therefore, your cost of living in Detroit, Michigan, if you own a home will be $3,398.39 per month, or $40,780.68 per year. If you already own a house outright, then the amount you need to retire will be $1,019,517, and if you need to purchase the $189,900 home, then you will need $1,209,417. All of these retirement planning numbers are estimates. If you live in Greektown versus Corktown, your numbers will vary. If you eat at Prime and Proper every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Detroit.Need help saving for retirement? You can find a financial planner in Detroit to get you started on that path.

Nashville, Tennessee

There’s nothing like Nashville for making records.
–Carol Channing

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Nashville, Tennessee?

Cost of Living in Nashville, Tennessee

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,048.82 per month. Rent in a 3-bedroom apartment in the city center is $2,793.33 per month, and rent outside the city center is $1,726.19. That’s probably the difference between living in Green Hills and living in Germantown. So, we’ll split the difference and say that the average rent is $2,259.76 per month.Therefore, the total estimated cost of living for a four-person family in Nashville, Tennessee is $5,308.58 per month. This translates into a $63,702.96 annual cost of living. So, in order to retire in Nashville while renting an apartment and abiding by the safe withdrawal rate, you would need $1,592,574.

Cost of Housing in Nashville, Tennessee

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Nashville? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $318,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Nashville, Tennessee, property taxes are 77.4 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $318,000 home, you won’t have to pay the $2,259.76 per month in rent, but you will have the following expenses:

  • Property taxes: $2,461.32 per year
  • Insurance: $1,335.60 per year
  • Home maintenance: $3,180.00 per year
  • Total: $6,976.92 per year, or $581.41 per month

Therefore, your cost of living in Nashville, Tennessee, if you own a home will be $3,630.23 per month, or $43,562.76 per year. If you already own a house outright, then the amount you need to retire will be $1,089,069, and if you need to purchase the $318,000 home, then you will need $1,407,069. All of these retirement planning numbers are estimates. If you live in Green Hills versus Germantown, your numbers will vary. If you eat at Jeff Ruby’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Nashville.Need help saving for retirement? You can find a financial planner in Nashville to get you started on that path.

Portland, Oregon

Portland, Oregon won’t build a mile of road without a mile of bike path. You can commute there, even with that weather, all the time.
–Lance Armstrong

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Portland, Oregon?

Cost of Living in Portland, Oregon

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,434.93 per month. Rent in a 3-bedroom apartment in the city center is $2,686.11 per month, and rent outside the city center is $1,882.14. That’s probably the difference between living in Pearl District and living in Lloyd District. So, we’ll split the difference and say that the average rent is $2,284.13 per month.Therefore, the total estimated cost of living for a four-person family in Portland, Oregon is $5,719.06 per month. This translates into a $68,628.66 annual cost of living. So, in order to retire in Portland while renting an apartment and abiding by the safe withdrawal rate, you would need $1,715,717.

Cost of Housing in Portland, Oregon

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Portland? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $447,516. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Portland, Oregon, property taxes are 119.7 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $447,516 home, you won’t have to pay the $2,284.13 per month in rent, but you will have the following expenses:

  • Property taxes: $5,356.77 per year
  • Insurance: $1,879.57 per year
  • Home maintenance: $4,475.16 per year
  • Total: $11,711.50 per year, or $975.96 per month

Therefore, your cost of living in Portland, Oregon, if you own a home will be $4,410.89 per month, or $52,930.68 per year. If you already own a house outright, then the amount you need to retire will be $1,323,267, and if you need to purchase the $447,516 home, then you will need $1,770,783. All of these retirement planning numbers are estimates. If you live in Pearl District versus Lloyd District, your numbers will vary. If you eat at Le Pigeon every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Portland.Need help saving for retirement? You can find a financial planner in Portland to get you started on that path.

Memphis, Tennessee

I’ll stay in Memphis.
–Elvis Presley

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Memphis, Tennessee?

Cost of Living in Memphis, Tennessee

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,998.99 per month. Rent in a 3-bedroom apartment in the city center is $1,308.71 per month, and rent outside the city center is $933.65. That’s probably the difference between living in Orange Mound and living in Harbor Town. So, we’ll split the difference and say that the average rent is $1,121.18 per month.Therefore, the total estimated cost of living for a four-person family in Memphis, Tennessee is $4,120.17 per month. This translates into a $49,442.04 annual cost of living. So, in order to retire in Memphis while renting an apartment and abiding by the safe withdrawal rate, you would need $1,236,051.

Cost of Housing in Memphis, Tennessee

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Memphis? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $92,950. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Memphis, Tennessee, property taxes are 77.4 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $92,950 home, you won’t have to pay the $1,121.18 per month in rent, but you will have the following expenses:

  • Property taxes: $719.43 per year
  • Insurance: $390.39 per year
  • Home maintenance: $929.50 per year
  • Total: $2,039.32 per year, or $169.94 per month

Therefore, your cost of living in Memphis, Tennessee, if you own a home will be $3,168.93 per month, or $38,027.16 per year. If you already own a house outright, then the amount you need to retire will be $950,679, and if you need to purchase the $92,950 home, then you will need $1,043,629. All of these retirement planning numbers are estimates. If you live in Orange Mound versus Harbor Town, your numbers will vary. If you eat at Erling Jensen every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Memphis.Need help saving for retirement? You can find a financial planner in Memphis to get you started on that path.

Oklahoma City, Oklahoma

When the Oakies left Oklahoma and moved to California, it raised the I.Q. of both states.
–Will Rogers

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Oklahoma City, Oklahoma?

Cost of Living in Oklahoma City, Oklahoma

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,786.94 per month. Rent in a 3-bedroom apartment in the city center is $1,383.93 per month, and rent outside the city center is $1,091.18. That’s probably the difference between living in Bricktown and living in Mesta Park. So, we’ll split the difference and say that the average rent is $1,237.56 per month.Therefore, the total estimated cost of living for a four-person family in Oklahoma City, Oklahoma is $4,024.50 per month. This translates into a $48,293.94 annual cost of living. So, in order to retire in Oklahoma City while renting an apartment and abiding by the safe withdrawal rate, you would need $1,207,349.

Cost of Housing in Oklahoma City, Oklahoma

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Oklahoma City? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $189,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Oklahoma City, Oklahoma, property taxes are 53.8 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $189,900 home, you won’t have to pay the $1,237.56 per month in rent, but you will have the following expenses:

  • Property taxes: $1,021.66 per year
  • Insurance: $797.58 per year
  • Home maintenance: $1,899.00 per year
  • Total: $3,718.24 per year, or $309.85 per month

Therefore, your cost of living in Oklahoma City, Oklahoma, if you own a home will be $3,096.79 per month, or $37,161.48 per year. If you already own a house outright, then the amount you need to retire will be $929,037, and if you need to purchase the $189,900 home, then you will need $1,118,937. All of these retirement planning numbers are estimates. If you live in Bricktown versus Mesta Park, your numbers will vary. If you eat at Ranch Steakhouse every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Oklahoma City.Need help saving for retirement? You can find a financial planner in Oklahoma City to get you started on that path.

Las Vegas, Nevada

What happens in Vegas, I’m telling everyone.–Dane Cook

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Las Vegas, Nevada?

Cost of Living in Las Vegas, Nevada

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,951.33 per month. Rent in a 3-bedroom apartment in the city center is $1,521.40 per month, and rent outside the city center is $1,323.01. That’s probably the difference between living in Summerlin and living in Desert Shores. So, we’ll split the difference and say that the average rent is $1,422.21 per month.Therefore, the total estimated cost of living for a four-person family in Las Vegas, Nevada is $4,373.54 per month. This translates into a $52,482.42 annual cost of living. So, in order to retire in Las Vegas while renting an apartment and abiding by the safe withdrawal rate, you would need $1,312,061.

Cost of Housing in Las Vegas, Nevada

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Las Vegas? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $299,884. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Las Vegas, Nevada, property taxes are 96.6 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $299,884 home, you won’t have to pay the $1,422.21 per month in rent, but you will have the following expenses:

  • Property taxes: $2,896.88 per year
  • Insurance: $1,259.51 per year
  • Home maintenance: $2,998.84 per year
  • Total: $7,155.23 per year, or $596.27 per month

Therefore, your cost of living in Las Vegas, Nevada, if you own a home will be $3,547.60 per month, or $42,571.20 per year. If you already own a house outright, then the amount you need to retire will be $1,064,280, and if you need to purchase the $299,884 home, then you will need $1,364,164. All of these retirement planning numbers are estimates. If you live in Summerlin versus Desert Shores, your numbers will vary. If you eat at Le Cirque every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Las Vegas.Need help saving for retirement? You can find a financial planner in Las Vegas to get you started on that path.

Louisville, Kentucky

I take with me Kentucky
embedded in my brain and heart,
In my flesh and bone and blood
Since I am Kentucky
And Kentucky is part of me.
–Jesse Stuart

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Louisville, Kentucky?

Cost of Living in Louisville, Kentucky

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,852.94 per month. Rent in a 3-bedroom apartment in the city center is $1,320.83 per month, and rent outside the city center is $1,204.17. That’s probably the difference between living in Highlands and living in Fairdale. So, we’ll split the difference and say that the average rent is $1,262.50 per month.Therefore, the total estimated cost of living for a four-person family in Louisville, Kentucky is $4,115.44 per month. This translates into a $49,385.28 annual cost of living. So, in order to retire in Louisville while renting an apartment and abiding by the safe withdrawal rate, you would need $1,234,632.

Cost of Housing in Louisville, Kentucky

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Louisville? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $199,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Louisville, Kentucky, property taxes are 94.1 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $199,900 home, you won’t have to pay the $1,262.50 per month in rent, but you will have the following expenses:

  • Property taxes: $1,881.06 per year
  • Insurance: $839.58 per year
  • Home maintenance: $1,999.00 per year
  • Total: $4,719.64 per year, or $393.30 per month

Therefore, your cost of living in Louisville, Kentucky, if you own a home will be $3,246.24 per month, or $38,954.88 per year. If you already own a house outright, then the amount you need to retire will be $973,872, and if you need to purchase the $199,900 home, then you will need $1,173,772. All of these retirement planning numbers are estimates. If you live in Highlands versus Fairdale, your numbers will vary. If you eat at Jeff Ruby’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Louisville.Need help saving for retirement? You can find a financial planner in Louisville to get you started on that path.

Baltimore, Maryland

There is a saying in Baltimore that crabs may be prepared in fifty ways and that all of them are good.
–H. L. Mencken

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Baltimore, Maryland?

Cost of Living in Baltimore, Maryland

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,364.21 per month. Rent in a 3-bedroom apartment in the city center is $2,178.12 per month, and rent outside the city center is $1,655.56. That’s probably the difference between living in Inner Harbor and living in Federal Hill. So, we’ll split the difference and say that the average rent is $1,916.84 per month.Therefore, the total estimated cost of living for a four-person family in Baltimore, Maryland is $5,281.05 per month. This translates into a $63,372.60 annual cost of living. So, in order to retire in Baltimore while renting an apartment and abiding by the safe withdrawal rate, you would need $1,584,315.

Cost of Housing in Baltimore, Maryland

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Baltimore? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $150,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Baltimore, Maryland, property taxes are 93.4 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $150,000 home, you won’t have to pay the $1,916.84 per month in rent, but you will have the following expenses:

  • Property taxes: $1,401.00 per year
  • Insurance: $630.00 per year
  • Home maintenance: $1,500.00 per year
  • Total: $3,531.00 per year, or $294.25 per month

Therefore, your cost of living in Baltimore, Maryland, if you own a home will be $3,658.46 per month, or $43,901.52 per year. If you already own a house outright, then the amount you need to retire will be $1,097,538, and if you need to purchase the $150,000 home, then you will need $1,247,538. All of these retirement planning numbers are estimates. If you live in Inner Harbor versus Federal Hill, your numbers will vary. If you eat at Woodberry Kitchen every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Baltimore.Need help saving for retirement? You can find a financial planner in Baltimore to get you started on that path.

Milwaukee, Wisconsin

I love how quiet and calm Milwaukee is.
–Giannis Antetokounmpo

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Milwaukee, Wisconsin?

Cost of Living in Milwaukee, Wisconsin

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,121.65 per month. Rent in a 3-bedroom apartment in the city center is $2,105.56 per month, and rent outside the city center is $1,374.00. That’s probably the difference between living in Bay View and living in Alverno. So, we’ll split the difference and say that the average rent is $1,739.78 per month.Therefore, the total estimated cost of living for a four-person family in Milwaukee, Wisconsin is $4,861.43 per month. This translates into a $58,337.16 annual cost of living. So, in order to retire in Milwaukee while renting an apartment and abiding by the safe withdrawal rate, you would need $1,458,429.

Cost of Housing in Milwaukee, Wisconsin

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Milwaukee? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $119,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Milwaukee, Wisconsin, property taxes are 200.1 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $119,900 home, you won’t have to pay the $1,739.78 per month in rent, but you will have the following expenses:

  • Property taxes: $2,399.20 per year
  • Insurance: $503.58 per year
  • Home maintenance: $1,199.00 per year
  • Total: $4,101.78 per year, or $341.81 per month

Therefore, your cost of living in Milwaukee, Wisconsin, if you own a home will be $3,463.46 per month, or $41,561.52 per year. If you already own a house outright, then the amount you need to retire will be $1,039,038, and if you need to purchase the $119,900 home, then you will need $1,158,938. All of these retirement planning numbers are estimates. If you live in Bay View versus Alverno, your numbers will vary. If you eat at Carnevor every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Milwaukee.Need help saving for retirement? You can find a financial planner in Milwaukee to get you started on that path.

Albuquerque, New Mexico

I knew I shoulda taken a left turn at Albuquerque!
–Bugs Bunny

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Albuquerque, New Mexico?

Cost of Living in Albuquerque, New Mexico

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,806.79 per month. Rent in a 3-bedroom apartment in the city center is $1,290.35 per month, and rent outside the city center is $1,206.14. That’s probably the difference between living in Bear Canyon and living in Manzano Mesa. So, we’ll split the difference and say that the average rent is $1,248.25 per month.Therefore, the total estimated cost of living for a four-person family in Albuquerque, New Mexico is $4,055.04 per month. This translates into a $48,660.42 annual cost of living. So, in order to retire in Albuquerque while renting an apartment and abiding by the safe withdrawal rate, you would need $1,216,511.

Cost of Housing in Albuquerque, New Mexico

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Albuquerque? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $220,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Albuquerque, New Mexico, property taxes are 94 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $220,000 home, you won’t have to pay the $1,248.25 per month in rent, but you will have the following expenses:

  • Property taxes: $2,068.00 per year
  • Insurance: $924.00 per year
  • Home maintenance: $2,200.00 per year
  • Total: $5,192.00 per year, or $432.67 per month

Therefore, your cost of living in Albuquerque, New Mexico, if you own a home will be $3,239.46 per month, or $38,873.52 per year. If you already own a house outright, then the amount you need to retire will be $971,838, and if you need to purchase the $220,000 home, then you will need $1,191,838. All of these retirement planning numbers are estimates. If you live in Bear Canyon versus Manzano Mesa, your numbers will vary. If you eat at Antiquity every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Albuquerque.Need help saving for retirement? You can find a financial planner in Albuquerque to get you started on that path.

Tucson, Arizona

My favorite part of winter is watching it on TV from Tucson
–Tucson Tourism Board (or, so I imagine)

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Tucson, Arizona?

Cost of Living in Tucson, Arizona

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,961.46 per month. Rent in a 3-bedroom apartment in the city center is $1,249.31 per month, and rent outside the city center is $1,130.88. That’s probably the difference between living in Starr Pass and living in El Conquistador. So, we’ll split the difference and say that the average rent is $1,190.10 per month.Therefore, the total estimated cost of living for a four-person family in Tucson, Arizona is $4,151.56 per month. This translates into a $49,818.66 annual cost of living. So, in order to retire in Tucson while renting an apartment and abiding by the safe withdrawal rate, you would need $1,245,467.

Cost of Housing in Tucson, Arizona

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Tucson? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $225,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Tucson, Arizona, property taxes are 80.2 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $225,000 home, you won’t have to pay the $1,190.10 per month in rent, but you will have the following expenses:

  • Property taxes: $1,804.50 per year
  • Insurance: $945.00 per year
  • Home maintenance: $2,250.00 per year
  • Total: $4,999.50 per year, or $416.63 per month

Therefore, your cost of living in Tucson, Arizona, if you own a home will be $3,378.09 per month, or $40,537.08 per year. If you already own a house outright, then the amount you need to retire will be $1,013,427, and if you need to purchase the $225,000 home, then you will need $1,238,427. All of these retirement planning numbers are estimates. If you live in Starr Pass versus El Conquistador, your numbers will vary. If you eat at Sullivan’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Tucson.Need help saving for retirement? You can find a financial planner in Tucson to get you started on that path.

Fresno, California

It [space] was just so incredibly adventurous and exciting to me. I just thought there was no doubt in my mind that is what I want to do when I grow up.–Rick Husband (Fresno State alumnus)

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Fresno, California?

Cost of Living in Fresno, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,782.98 per month. Rent in a 3-bedroom apartment in the city center is $1,505.33 per month, and rent outside the city center is $1,423.31. That’s probably the difference between living in Tower District and living in Figarden. So, we’ll split the difference and say that the average rent is $1,464.32 per month.Therefore, the total estimated cost of living for a four-person family in Fresno, California is $4,247.30 per month. This translates into a $50,967.60 annual cost of living. So, in order to retire in Fresno while renting an apartment and abiding by the safe withdrawal rate, you would need $1,274,190.

Cost of Housing in Fresno, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Fresno? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $279,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Fresno, California, property taxes are 79.3 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $279,000 home, you won’t have to pay the $1,464.32 per month in rent, but you will have the following expenses:

  • Property taxes: $2,212.47 per year
  • Insurance: $1,171.80 per year
  • Home maintenance: $2,790.00 per year
  • Total: $6,174.27 per year, or $514.52 per month

Therefore, your cost of living in Fresno, California, if you own a home will be $3,297.50 per month, or $39,570.00 per year. If you already own a house outright, then the amount you need to retire will be $989,250, and if you need to purchase the $279,000 home, then you will need $1,268,250. All of these retirement planning numbers are estimates. If you live in Tower District versus Figarden, your numbers will vary. If you eat at the Lime Lite every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Fresno.Need help saving for retirement? You can find a financial planner in Fresno to get you started on that path.

Mesa, Arizona

There’s something wonderfully healing in Arizona air.
–Zane Grey

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Mesa, Arizona?

Cost of Living in Mesa, Arizona

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,934.21 per month. Rent in a 3-bedroom apartment in the city center is $1,477.00 per month, and rent outside the city center is $1,273.33. That’s probably the difference between living in Eastmark and living in Sunland Village. So, we’ll split the difference and say that the average rent is $1,375.17 per month.Therefore, the total estimated cost of living for a four-person family in Mesa, Arizona is $4,309.38 per month. This translates into a $51,712.50 annual cost of living. So, in order to retire in Mesa while renting an apartment and abiding by the safe withdrawal rate, you would need $1,292,813.

Cost of Housing in Mesa, Arizona

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Mesa? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $260,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Mesa, Arizona, property taxes are 80.2 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $260,000 home, you won’t have to pay the $1,375.17 per month in rent, but you will have the following expenses:

  • Property taxes: $2,085.20 per year
  • Insurance: $1,092.00 per year
  • Home maintenance: $2,600.00 per year
  • Total: $5,777.20 per year, or $481.43 per month

Therefore, your cost of living in Mesa, Arizona, if you own a home will be $3,415.64 per month, or $40,987.68 per year. If you already own a house outright, then the amount you need to retire will be $1,024,692, and if you need to purchase the $260,000 home, then you will need $1,284,692. All of these retirement planning numbers are estimates. If you live in Eastmark versus Sunland Village, your numbers will vary. If you eat at Alessia’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Mesa.Need help saving for retirement? You can find a financial planner in Mesa to get you started on that path.

Sacramento, California

God bless Sacramento, and the birds in her trees… As varied our landscape so be our people.
–Be Brave Bold Robot

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Sacramento, California?

Cost of Living in Sacramento, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,548.91 per month. Rent in a 3-bedroom apartment in the city center is $2,252.38 per month, and rent outside the city center is $1,845.00. That’s probably the difference between living in Midtown and living in Del Paso Heights. So, we’ll split the difference and say that the average rent is $2,048.69 per month.Therefore, the total estimated cost of living for a four-person family in Sacramento, California is $5,597.60 per month. This translates into a $67,171.20 annual cost of living. So, in order to retire in Sacramento while renting an apartment and abiding by the safe withdrawal rate, you would need $1,679,280.

Cost of Housing in Sacramento, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Sacramento? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $312,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Sacramento, California, property taxes are 79.3 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $312,000 home, you won’t have to pay the $2,048.69 per month in rent, but you will have the following expenses:

  • Property taxes: $2,474.16 per year
  • Insurance: $1,310.40 per year
  • Home maintenance: $3,120.00 per year
  • Total: $6,904.56 per year, or $575.38 per month

Therefore, your cost of living in Sacramento, California, if you own a home will be $4,124.29 per month, or $49,491.48 per year. If you already own a house outright, then the amount you need to retire will be $1,237,287, and if you need to purchase the $312,000 home, then you will need $1,549,287. All of these retirement planning numbers are estimates. If you live in Midtown versus Del Paso Heights, your numbers will vary. If you eat at Localis every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Sacramento.Need help saving for retirement? You can find a financial planner in Sacramento to get you started on that path.

Atlanta, Georgia

I dare somebody to go to Atlanta and not have a good time.
–Brian Tyree Henry

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Atlanta, Georgia?

Cost of Living in Atlanta, Georgia

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,316.69 per month. Rent in a 3-bedroom apartment in the city center is $2,685.19 per month, and rent outside the city center is $1,707.14. That’s probably the difference between living in Buckhead and living in Little Five Points. So, we’ll split the difference and say that the average rent is $2,196.17 per month.Therefore, the total estimated cost of living for a four-person family in Atlanta, Georgia is $5,512.86 per month. This translates into a $66,154.26 annual cost of living. So, in order to retire in Atlanta while renting an apartment and abiding by the safe withdrawal rate, you would need $1,653,857.

Cost of Housing in Atlanta, Georgia

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Atlanta? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $319,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Atlanta, Georgia, property taxes are 117.7 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $319,000 home, you won’t have to pay the $2,196.17 per month in rent, but you will have the following expenses:

  • Property taxes: $3,754.63 per year
  • Insurance: $1,339.80 per year
  • Home maintenance: $3,190.00 per year
  • Total: $8,284.43 per year, or $690.37 per month

Therefore, your cost of living in Atlanta, Georgia, if you own a home will be $4,007.06 per month, or $48,084.72 per year. If you already own a house outright, then the amount you need to retire will be $1,202,118, and if you need to purchase the $319,000 home, then you will need $1,521,118. All of these retirement planning numbers are estimates. If you live in Buckhead versus Little Five Points, your numbers will vary. If you eat at Bacchanalia every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Atlanta.Need help saving for retirement? You can find a financial planner in Atlanta to get you started on that path.

Kansas City, Missouri

Whenever I’m in Kansas City, I think back to all the jazz-blues greats who played the blues here – like Count Basie, Charlie Parker and Jay McShann. I watched those guys jam in different places and heard a lot of things – but I couldn’t do what they did. They were too good.
–B. B. King

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Kansas City, Missouri?

Cost of Living in Kansas City, Missouri

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,062.84 per month. Rent in a 3-bedroom apartment in the city center is $1,525.00 per month, and rent outside the city center is $1,225.00. That’s probably the difference between living in Westport and living in Brookside. So, we’ll split the difference and say that the average rent is $1,375.00 per month.Therefore, the total estimated cost of living for a four-person family in Kansas City, Missouri is $4,437.84 per month. This translates into a $53,254.08 annual cost of living. So, in order to retire in Kansas City while renting an apartment and abiding by the safe withdrawal rate, you would need $1,331,352.

Cost of Housing in Kansas City, Missouri

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Kansas City? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $187,950. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Kansas City, Missouri, property taxes are 138.7 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $187,950 home, you won’t have to pay the $1,375.00 per month in rent, but you will have the following expenses:

  • Property taxes: $2,606.87 per year
  • Insurance: $789.39 per year
  • Home maintenance: $1,879.50 per year
  • Total: $5,275.76 per year, or $439.65 per month

Therefore, your cost of living in Kansas City, Missouri, if you own a home will be $3,502.49 per month, or $42,029.88 per year. If you already own a house outright, then the amount you need to retire will be $1,050,747, and if you need to purchase the $187,950 home, then you will need $1,238,697. All of these retirement planning numbers are estimates. If you live in Westport versus Brookside, your numbers will vary. If you eat at Bluestem every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Kansas City.Need help saving for retirement? You can find a financial planner in Kansas City to get you started on that path.

Colorado Springs, Colorado

I’m grateful for anything that brings me back to Colorado.
–Sheryl Lee

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Colorado Springs, Colorado?

Cost of Living in Colorado Springs, Colorado

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,566.58 per month. Rent in a 3-bedroom apartment in the city center is $1,721.91 per month, and rent outside the city center is $1,485.00. That’s probably the difference between living in Stratton Meadows and living in Pleasant Valley. So, we’ll split the difference and say that the average rent is $1,603.46 per month.Therefore, the total estimated cost of living for a four-person family in Colorado Springs, Colorado is $4,170.04 per month. This translates into a $50,040.42 annual cost of living. So, in order to retire in Colorado Springs while renting an apartment and abiding by the safe withdrawal rate, you would need $1,251,011.

Cost of Housing in Colorado Springs, Colorado

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Colorado Springs? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $319,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Colorado Springs, Colorado, property taxes are 49.02 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $319,900 home, you won’t have to pay the $1,603.46 per month in rent, but you will have the following expenses:

  • Property taxes: $1,568.15 per year
  • Insurance: $1,343.58 per year
  • Home maintenance: $3,199.00 per year
  • Total: $6,110.73 per year, or $509.23 per month

Therefore, your cost of living in Colorado Springs, Colorado, if you own a home will be $3,075.81 per month, or $36,909.72 per year. If you already own a house outright, then the amount you need to retire will be $922,743, and if you need to purchase the $319,900 home, then you will need $1,242,643. All of these retirement planning numbers are estimates. If you live in Stratton Meadows versus Pleasant Valley, your numbers will vary. If you eat at the Mess Hall at the Air Force Academy (I have to do this as a West Point grad) every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Colorado Springs.Need help saving for retirement? You can find a financial planner in Colorado Springs to get you started on that path.

Miami, Florida

Being from Miami, you’re used to the fact that your home is a vacation spot. But that’s what makes Miami one of the best places in the world. We’re so rich in different cultures, being so close to Haiti, Cuba, the Dominican Republic, and Puerto Rico, and then you’ve got people who travel from all over the world just to come visit.
–Flo Rida

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Miami, Florida?

Cost of Living in Miami, Florida

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,717.44 per month. Rent in a 3-bedroom apartment in the city center is $3,232.81 per month, and rent outside the city center is $2,129.73. That’s probably the difference between living in Brickell and living in Wynwood. So, we’ll split the difference and say that the average rent is $2,681.27 per month.Therefore, the total estimated cost of living for a four-person family in Miami, Florida is $6,398.71 per month. This translates into a $76,784.52 annual cost of living. So, in order to retire in Miami while renting an apartment and abiding by the safe withdrawal rate, you would need $1,919,613.

Cost of Housing in Miami, Florida

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Miami? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $493,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Miami, Florida, property taxes are 93.8 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $493,900 home, you won’t have to pay the $2,681.27 per month in rent, but you will have the following expenses:

  • Property taxes: $4,632.78 per year
  • Insurance: $2,074.38 per year
  • Home maintenance: $4,939.00 per year
  • Total: $11,646.16 per year, or $970.51 per month

Therefore, your cost of living in Miami, Florida, if you own a home will be $4,687.95 per month, or $56,255.40 per year. If you already own a house outright, then the amount you need to retire will be $1,406,385, and if you need to purchase the $493,900 home, then you will need $1,900,285. All of these retirement planning numbers are estimates. If you live in Brickell versus Wynwood, your numbers will vary. If you eat at Zuma every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Miami.Need help saving for retirement? You can find a financial planner in Miami to get you started on that path.

Raleigh, North Carolina

Raleigh is thought of as the “Smithsonian of the South” not only due to an abundance of high-quality, free museums, historic attractions and educational institutions, but where they converge with the stories of natural landscapes and the creative and pioneering spirit
–Johnalee Johnston

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Raleigh, North Carolina?

Cost of Living in Raleigh, North Carolina

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,148.75 per month. Rent in a 3-bedroom apartment in the city center is $.00 per month, and rent outside the city center is $.00. That’s probably the difference between living in North Hills and living in Walnut Creek. So, we’ll split the difference and say that the average rent is $.00 per month.Therefore, the total estimated cost of living for a four-person family in Raleigh, North Carolina is $3,148.75 per month. This translates into a $37,785.00 annual cost of living. So, in order to retire in Raleigh while renting an apartment and abiding by the safe withdrawal rate, you would need $944,625.

Cost of Housing in Raleigh, North Carolina

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Raleigh? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $330,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Raleigh, North Carolina, property taxes are 86.1 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $330,000 home, you won’t have to pay the $.00 per month in rent, but you will have the following expenses:

  • Property taxes: $2,841.30 per year
  • Insurance: $1,386.00 per year
  • Home maintenance: $3,300.00 per year
  • Total: $7,527.30 per year, or $627.28 per month

Therefore, your cost of living in Raleigh, North Carolina, if you own a home will be $3,776.03 per month, or $45,312.36 per year. If you already own a house outright, then the amount you need to retire will be $1,132,809, and if you need to purchase the $330,000 home, then you will need $1,462,809. All of these retirement planning numbers are estimates. If you live in North Hills versus Walnut Creek, your numbers will vary. If you eat at Second Empire every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Raleigh.Need help saving for retirement? You can find a financial planner in Raleigh to get you started on that path.

Omaha, Nebraska

I still can’t shake the Nebraska off of me.
–Andrew Rannells

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Omaha, Nebraska?

Cost of Living in Omaha, Nebraska

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,819.77 per month. Rent in a 3-bedroom apartment in the city center is $1,558.33 per month, and rent outside the city center is $1,164.29. That’s probably the difference between living in Elkhorn and living in Benson. So, we’ll split the difference and say that the average rent is $1,361.31 per month.Therefore, the total estimated cost of living for a four-person family in Omaha, Nebraska is $4,181.08 per month. This translates into a $50,172.96 annual cost of living. So, in order to retire in Omaha while renting an apartment and abiding by the safe withdrawal rate, you would need $1,254,324.

Cost of Housing in Omaha, Nebraska

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Omaha? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $220,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Omaha, Nebraska, property taxes are 150.4 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $220,000 home, you won’t have to pay the $1,361.31 per month in rent, but you will have the following expenses:

  • Property taxes: $3,308.80 per year
  • Insurance: $924.00 per year
  • Home maintenance: $2,200.00 per year
  • Total: $6,432.80 per year, or $536.07 per month

Therefore, your cost of living in Omaha, Nebraska, if you own a home will be $3,355.84 per month, or $40,270.08 per year. If you already own a house outright, then the amount you need to retire will be $1,006,752, and if you need to purchase the $220,000 home, then you will need $1,226,752. All of these retirement planning numbers are estimates. If you live in Elkhorn versus Benson, your numbers will vary. If you eat at Spezia every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Omaha.Need help saving for retirement? You can find a financial planner in Omaha to get you started on that path.

Long Beach, California

On one of my birthdays I did 1,000 chin-ups and 1,000 push-ups. For my 70th birthday I towed 70 boats with 70 people in it, my feet and hands tied-my hands were in handcuffs, my feet were tied together-and I towed these boats a mile-and-a-half in Long Beach Harbor. For my 93rd birthday I’m going to tow my wife across the bathtub.–Jack LaLanne

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Long Beach, California?

Cost of Living in Long Beach, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,228.17 per month. Rent in a 3-bedroom apartment in the city center is $.00 per month, and rent outside the city center is $.00. That’s probably the difference between living in Belmont Shore and living in Eastside. So, we’ll split the difference and say that the average rent is $.00 per month.Therefore, the total estimated cost of living for a four-person family in Long Beach, California is $3,228.17 per month. This translates into a $38,738.04 annual cost of living. So, in order to retire in Long Beach while renting an apartment and abiding by the safe withdrawal rate, you would need $968,451.

Cost of Housing in Long Beach, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Long Beach? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $580,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Long Beach, California, property taxes are 79.3 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $580,000 home, you won’t have to pay the $.00 per month in rent, but you will have the following expenses:

  • Property taxes: $4,599.40 per year
  • Insurance: $2,436.00 per year
  • Home maintenance: $5,800.00 per year
  • Total: $12,835.40 per year, or $1,069.62 per month

Therefore, your cost of living in Long Beach, California, if you own a home will be $4,297.79 per month, or $51,573.48 per year. If you already own a house outright, then the amount you need to retire will be $1,289,337, and if you need to purchase the $580,000 home, then you will need $1,869,337. All of these retirement planning numbers are estimates. If you live in Belmont Shore versus Eastside, your numbers will vary. If you eat at Sir Winston’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Long Beach.Need help saving for retirement? You can find a financial planner in Long Beach to get you started on that path.

Virginia Beach, Virginia

I enjoyed growing up part of my life in Virginia Beach. We had the ocean and the beach and a beautiful landscape. We were outdoors all the time and we played outside.
–Mark Ruffalo

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Virginia Beach, Virginia?

Cost of Living in Virginia Beach, Virginia

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,093.05 per month. Rent in a 3-bedroom apartment in the city center is $.00 per month, and rent outside the city center is $.00. That’s probably the difference between living in Sandbridge and living in Dam Neck. So, we’ll split the difference and say that the average rent is $.00 per month.Therefore, the total estimated cost of living for a four-person family in Virginia Beach, Virginia is $3,093.05 per month. This translates into a $37,116.60 annual cost of living. So, in order to retire in Virginia Beach while renting an apartment and abiding by the safe withdrawal rate, you would need $927,915.

Cost of Housing in Virginia Beach, Virginia

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Virginia Beach? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $302,450. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Virginia Beach, Virginia, property taxes are 115 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $302,450 home, you won’t have to pay the $.00 per month in rent, but you will have the following expenses:

  • Property taxes: $3,478.18 per year
  • Insurance: $1,270.29 per year
  • Home maintenance: $3,024.50 per year
  • Total: $7,772.97 per year, or $647.75 per month

Therefore, your cost of living in Virginia Beach, Virginia, if you own a home will be $3,740.80 per month, or $44,889.60 per year. If you already own a house outright, then the amount you need to retire will be $1,122,240, and if you need to purchase the $302,450 home, then you will need $1,424,690. All of these retirement planning numbers are estimates. If you live in Sandbridge versus Dam Neck, your numbers will vary. If you eat at Terrapin every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Virginia Beach.Need help saving for retirement? You can find a financial planner in Virginia Beach to get you started on that path.

Oakland, California

Growing up in northern California has had a big influence on my love and respect for the outdoors. When I lived in Oakland, we would think nothing of driving to Half Moon Bay and Santa Cruz one day and then driving to the foothills of the Sierras the next day.
–Tom Hanks

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Oakland, California?

Cost of Living in Oakland, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,803.76 per month. Rent in a 3-bedroom apartment in the city center is $4,247.88 per month, and rent outside the city center is $3,218.29. That’s probably the difference between living in Elmhurst and living in Fruitvale. So, we’ll split the difference and say that the average rent is $3,733.09 per month.Therefore, the total estimated cost of living for a four-person family in Oakland, California is $7,536.85 per month. This translates into a $90,442.14 annual cost of living. So, in order to retire in Oakland while renting an apartment and abiding by the safe withdrawal rate, you would need $2,261,054.

Cost of Housing in Oakland, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Oakland? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $650,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Oakland, California, property taxes are 86.6 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $650,000 home, you won’t have to pay the $3,733.09 per month in rent, but you will have the following expenses:

  • Property taxes: $5,629.00 per year
  • Insurance: $2,730.00 per year
  • Home maintenance: $6,500.00 per year
  • Total: $14,859.00 per year, or $1,238.25 per month

Therefore, your cost of living in Oakland, California, if you own a home will be $5,042.01 per month, or $60,504.12 per year. If you already own a house outright, then the amount you need to retire will be $1,512,603, and if you need to purchase the $650,000 home, then you will need $2,162,603. All of these retirement planning numbers are estimates. If you live in Elmhurst versus Fruitvale, your numbers will vary. If you eat at Commis every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Oakland.Need help saving for retirement? You can find a financial planner in Oakland to get you started on that path.

Minneapolis, Minnesota

I like Hollywood. I just like Minneapolis a little bit better.
–Prince

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Minneapolis, Minnesota?

Cost of Living in Minneapolis, Minnesota

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,426.88 per month. Rent in a 3-bedroom apartment in the city center is $2,852.63 per month, and rent outside the city center is $1,756.29. That’s probably the difference between living in Linden Hills and living in Minnehaha. So, we’ll split the difference and say that the average rent is $2,304.46 per month.Therefore, the total estimated cost of living for a four-person family in Minneapolis, Minnesota is $5,731.34 per month. This translates into a $68,776.08 annual cost of living. So, in order to retire in Minneapolis while renting an apartment and abiding by the safe withdrawal rate, you would need $1,719,402.

Cost of Housing in Minneapolis, Minnesota

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Minneapolis? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $319,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Minneapolis, Minnesota, property taxes are 134.5 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $319,900 home, you won’t have to pay the $2,304.46 per month in rent, but you will have the following expenses:

  • Property taxes: $4,302.66 per year
  • Insurance: $1,343.58 per year
  • Home maintenance: $3,199.00 per year
  • Total: $8,845.24 per year, or $737.10 per month

Therefore, your cost of living in Minneapolis, Minnesota, if you own a home will be $4,163.98 per month, or $49,967.76 per year. If you already own a house outright, then the amount you need to retire will be $1,249,194, and if you need to purchase the $319,900 home, then you will need $1,569,094. All of these retirement planning numbers are estimates. If you live in Linden Hills versus Minnehaha, your numbers will vary. If you eat at Spoon and Stable every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Minneapolis.Need help saving for retirement? You can find a financial planner in Minneapolis to get you started on that path.

Tulsa, Oklahoma

The reason gas prices are so high is because the oil is in Texas and Oklahoma and all the dipsticks are in Washington.
–Yakov Smirnoff

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Tulsa, Oklahoma?

Cost of Living in Tulsa, Oklahoma

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,773.60 per month. Rent in a 3-bedroom apartment in the city center is $1,398.93 per month, and rent outside the city center is $1,000.00. That’s probably the difference between living in Greenwood and living in Gilcrease Hills. So, we’ll split the difference and say that the average rent is $1,199.47 per month.Therefore, the total estimated cost of living for a four-person family in Tulsa, Oklahoma is $3,973.07 per month. This translates into a $47,676.78 annual cost of living. So, in order to retire in Tulsa while renting an apartment and abiding by the safe withdrawal rate, you would need $1,191,920.

Cost of Housing in Tulsa, Oklahoma

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Tulsa? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $174,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Tulsa, Oklahoma, property taxes are 53.8 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $174,900 home, you won’t have to pay the $1,199.47 per month in rent, but you will have the following expenses:

  • Property taxes: $940.96 per year
  • Insurance: $734.58 per year
  • Home maintenance: $1,749.00 per year
  • Total: $3,424.54 per year, or $285.38 per month

Therefore, your cost of living in Tulsa, Oklahoma, if you own a home will be $3,058.98 per month, or $36,707.76 per year. If you already own a house outright, then the amount you need to retire will be $917,694, and if you need to purchase the $174,900 home, then you will need $1,092,594. All of these retirement planning numbers are estimates. If you live in Greenwood versus Gilcrease Hills, your numbers will vary. If you eat at Mahogany every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Tulsa.Need help saving for retirement? You can find a financial planner in Tulsa to get you started on that path.

Arlington, Texas

“This is a lot of fun, man. I keep it real. I don’t put the goggles on. Let it sting.”
-Darren Oliver

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. How much you need to retire depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Dubuque, Iowa.The methodology we use to determine how much you need to retire is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Arlington, Texas?

Continues Below


Cost of Living in Arlington, Texas

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,650.22 per month. Rent in a 3-bedroom apartment in the city center is $.00 per month, and rent outside the city center is $.00. That’s probably the difference between living in East Arlington and living in Webb. So, we’ll split the difference and say that the average rent is $.00 per month.

Therefore, the total estimated cost of living for a four-person family in Arlington, Texas is $3,650.22 per month. This translates into a $43,802.64 annual cost of living.

So, in order to retire in Arlington while renting an apartment and abiding by the safe withdrawal rate, you would need $1,095,066.

Cost of Housing in Arlington, Texas

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Arlington?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $213,000.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Arlington, Texas, property taxes are 197.13 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $213,000 home, you won’t have to pay the $.00 per month in rent, but you will have the following expenses:

  • Property taxes: $4,198.87 per year
  • Insurance: $894.60 per year
  • Home maintenance: $2,130.00 per year
  • Total: $7,223.47 per year, or $601.96 per month

Therefore, your cost of living in Arlington, Texas, if you own a home will be $4,252.18 per month, or $51,026.11 per year. If you already own a house outright, then the amount you need to retire will be $1,275,653, and if you need to purchase the $213,000 home, then you will need $1,488,653.

All of these numbers are estimates. If you live in East Arlington versus Webb, your numbers will vary. If you eat at Paula’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Arlington.

Need help getting there? You can find a financial planner in Arlington to get you started on that path.

Tampa, Florida

Florida is so hot that people crowd around fire to cool down.

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Tampa, Florida?

Cost of Living in Tampa, Florida

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,170.64 per month. Rent in a 3-bedroom apartment in the city center is $2,074.29 per month, and rent outside the city center is $1,564.76. That’s probably the difference between living in Ybor City and living in Westshore. So, we’ll split the difference and say that the average rent is $1,819.53 per month.Therefore, the total estimated cost of living for a four-person family in Tampa, Florida is $4,990.17 per month. This translates into a $59,881.98 annual cost of living. So, in order to retire in Tampa while renting an apartment and abiding by the safe withdrawal rate, you would need $1,497,050.

Cost of Housing in Tampa, Florida

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Tampa? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $300,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Tampa, Florida, property taxes are 93.34 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $300,000 home, you won’t have to pay the $1,819.53 per month in rent, but you will have the following expenses:

  • Property taxes: $2,800.20 per year
  • Insurance: $1,260.00 per year
  • Home maintenance: $3,000.00 per year
  • Total: $7,060.20 per year, or $588.35 per month

Therefore, your cost of living in Tampa, Florida, if you own a home will be $3,758.99 per month, or $45,107.88 per year. If you already own a house outright, then the amount you need to retire will be $1,127,697, and if you need to purchase the $300,000 home, then you will need $1,427,697. All of these retirement planning numbers are estimates. If you live in Ybor City versus Westshore, your numbers will vary. If you eat at Bern’s Steak House every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Tampa.Need help saving for retirement? You can find a financial planner in Tampa to get you started on that path.

New Orleans, Louisiana

What happens in Vegas may stay in Vegas, but what happens in New Orleans, goes home with you.
–Laurell K. Hamilton

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in New Orleans, Louisiana?

Cost of Living in New Orleans, Louisiana

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,223.42 per month. Rent in a 3-bedroom apartment in the city center is $2,333.33 per month, and rent outside the city center is $1,553.33. That’s probably the difference between living in French Quarter and living in Lower Ninth Ward. So, we’ll split the difference and say that the average rent is $1,943.33 per month.Therefore, the total estimated cost of living for a four-person family in New Orleans, Louisiana is $5,166.75 per month. This translates into a $62,001.00 annual cost of living. So, in order to retire in New Orleans while renting an apartment and abiding by the safe withdrawal rate, you would need $1,550,025.

Cost of Housing in New Orleans, Louisiana

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in New Orleans? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $325,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In New Orleans, Louisiana, property taxes are 40.28 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $325,000 home, you won’t have to pay the $1,943.33 per month in rent, but you will have the following expenses:

  • Property taxes: $1,309.10 per year
  • Insurance: $1,365.00 per year
  • Home maintenance: $3,250.00 per year
  • Total: $5,924.10 per year, or $493.68 per month

Therefore, your cost of living in New Orleans, Louisiana, if you own a home will be $3,717.10 per month, or $44,605.20 per year. If you already own a house outright, then the amount you need to retire will be $1,115,130, and if you need to purchase the $325,000 home, then you will need $1,440,130. All of these retirement planning numbers are estimates. If you live in French Quarter versus Lower Ninth Ward, your numbers will vary. If you eat at Rib Room every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in New Orleans.Need help saving for retirement? You can find a financial planner in New Orleans to get you started on that path.

Wichita, Kansas

Kansas had better stop raising corn and begin raising hell.
–Mary Elizabeth Lease

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Wichita, Kansas?

Cost of Living in Wichita, Kansas

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,761.13 per month. Rent in a 3-bedroom apartment in the city center is $1,379.80 per month, and rent outside the city center is $866.67. That’s probably the difference between living in Old Town and living in Benjamin Hills. So, we’ll split the difference and say that the average rent is $1,123.24 per month.Therefore, the total estimated cost of living for a four-person family in Wichita, Kansas is $3,884.37 per month. This translates into a $46,612.38 annual cost of living. So, in order to retire in Wichita while renting an apartment and abiding by the safe withdrawal rate, you would need $1,165,310.

Cost of Housing in Wichita, Kansas

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Wichita? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $163,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Wichita, Kansas, property taxes are 156.05 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $163,900 home, you won’t have to pay the $1,123.24 per month in rent, but you will have the following expenses:

  • Property taxes: $2,557.66 per year
  • Insurance: $688.38 per year
  • Home maintenance: $1,639.00 per year
  • Total: $4,885.04 per year, or $407.09 per month

Therefore, your cost of living in Wichita, Kansas, if you own a home will be $3,168.22 per month, or $38,018.64 per year. If you already own a house outright, then the amount you need to retire will be $950,466, and if you need to purchase the $163,900 home, then you will need $1,114,366. All of these retirement planning numbers are estimates. If you live in Old Town versus Benjamin Hills, your numbers will vary. If you eat at Siena every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Wichita.Need help saving for retirement? You can find a financial planner in Wichita to get you started on that path.

Cleveland, Ohio

I love the normalcy of Cleveland. There’s regular people there.
–Drew Carey

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Cleveland, Ohio?

Cost of Living in Cleveland, Ohio

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,182.93 per month. Rent in a 3-bedroom apartment in the city center is $1,870.00 per month, and rent outside the city center is $1,135.71. That’s probably the difference between living in Ohio City and living in Little Italy. So, we’ll split the difference and say that the average rent is $1,502.86 per month.Therefore, the total estimated cost of living for a four-person family in Cleveland, Ohio is $4,685.79 per month. This translates into a $56,229.42 annual cost of living. So, in order to retire in Cleveland while renting an apartment and abiding by the safe withdrawal rate, you would need $1,405,736.

Cost of Housing in Cleveland, Ohio

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Cleveland? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $79,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Cleveland, Ohio, property taxes are 130.69 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $79,900 home, you won’t have to pay the $1,502.86 per month in rent, but you will have the following expenses:

  • Property taxes: $1,044.21 per year
  • Insurance: $335.58 per year
  • Home maintenance: $799.00 per year
  • Total: $2,178.79 per year, or $181.57 per month

Therefore, your cost of living in Cleveland, Ohio, if you own a home will be $3,364.50 per month, or $40,374.00 per year. If you already own a house outright, then the amount you need to retire will be $1,009,350, and if you need to purchase the $79,900 home, then you will need $1,089,250. All of these retirement planning numbers are estimates. If you live in Ohio City versus Little Italy, your numbers will vary. If you eat at Blue Point Grille every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Cleveland.Need help saving for retirement? You can find a financial planner in Cleveland to get you started on that path.

Bakersfield, California

“Sometimes I have to pinch myself — this is my work. There really is a purple-bellied Bakersfield legless lizard.”
— James Parham

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Bakersfield, California?

Cost of Living in Bakersfield, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,948.88 per month. Rent in a 3-bedroom apartment in the city center is $1,489.09 per month, and rent outside the city center is $1,370.91. That’s probably the difference between living in Laurel Glen and living in Homaker Park. So, we’ll split the difference and say that the average rent is $1,430.00 per month.Therefore, the total estimated cost of living for a four-person family in Bakersfield, California is $4,378.88 per month. This translates into a $52,546.56 annual cost of living. So, in order to retire in Bakersfield while renting an apartment and abiding by the safe withdrawal rate, you would need $1,313,664.

Cost of Housing in Bakersfield, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Bakersfield? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $265,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Bakersfield, California, property taxes are 79.86 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $265,000 home, you won’t have to pay the $1,430.00 per month in rent, but you will have the following expenses:

  • Property taxes: $2,116.29 per year
  • Insurance: $1,113.00 per year
  • Home maintenance: $2,650.00 per year
  • Total: $5,879.29 per year, or $489.94 per month

Therefore, your cost of living in Bakersfield, California, if you own a home will be $3,438.82 per month, or $41,265.84 per year. If you already own a house outright, then the amount you need to retire will be $1,031,646, and if you need to purchase the $265,000 home, then you will need $1,296,646. All of these retirement planning numbers are estimates. If you live in Laurel Glen versus Homaker Park, your numbers will vary. If you eat at The Mark every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Bakersfield.Need help saving for retirement? You can find a financial planner in Bakersfield to get you started on that path.

Aurora, Colorado

If it went on the ballot in Colorado, I would vote to lower the drinking age.
–Pete Coors

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Aurora, Colorado?

Cost of Living in Aurora, Colorado

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,565.20 per month. Rent in a 3-bedroom apartment in the city center is $2,050.00 per month, and rent outside the city center is $1,583.33. That’s probably the difference between living in Sterling Hills and living in Murphy Creek. So, we’ll split the difference and say that the average rent is $1,816.67 per month.Therefore, the total estimated cost of living for a four-person family in Aurora, Colorado is $5,381.87 per month. This translates into a $64,582.38 annual cost of living. So, in order to retire in Aurora while renting an apartment and abiding by the safe withdrawal rate, you would need $1,614,560.

Cost of Housing in Aurora, Colorado

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Aurora? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $359,450. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Aurora, Colorado, property taxes are 49.02 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $359,450 home, you won’t have to pay the $1,816.67 per month in rent, but you will have the following expenses:

  • Property taxes: $1,762.02 per year
  • Insurance: $1,509.69 per year
  • Home maintenance: $3,594.50 per year
  • Total: $6,866.21 per year, or $572.18 per month

Therefore, your cost of living in Aurora, Colorado, if you own a home will be $4,137.38 per month, or $49,648.56 per year. If you already own a house outright, then the amount you need to retire will be $1,241,214, and if you need to purchase the $359,450 home, then you will need $1,600,664. All of these retirement planning numbers are estimates. If you live in Sterling Hills versus Murphy Creek, your numbers will vary. If you eat at Bent Fork every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Aurora.Need help saving for retirement? You can find a financial planner in Aurora to get you started on that path.

Anaheim, California

Disneyland will never be completed. It will continue to grow as long as there is imagination left in the world.
–Walt Disney

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Anaheim, California?

Cost of Living in Anaheim, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,336.48 per month. Rent in a 3-bedroom apartment in the city center is $2,437.50 per month, and rent outside the city center is $2,125.00. That’s probably the difference between living in Yorba and living in Hermosa Village. So, we’ll split the difference and say that the average rent is $2,281.25 per month.Therefore, the total estimated cost of living for a four-person family in Anaheim, California is $5,617.73 per month. This translates into a $67,412.76 annual cost of living. So, in order to retire in Anaheim while renting an apartment and abiding by the safe withdrawal rate, you would need $1,685,319.

Cost of Housing in Anaheim, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Anaheim? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $599,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Anaheim, California, property taxes are 75.83 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $599,900 home, you won’t have to pay the $2,281.25 per month in rent, but you will have the following expenses:

  • Property taxes: $4,549.04 per year
  • Insurance: $2,519.58 per year
  • Home maintenance: $5,999.00 per year
  • Total: $13,067.62 per year, or $1,088.97 per month

Therefore, your cost of living in Anaheim, California, if you own a home will be $4,425.45 per month, or $53,105.40 per year. If you already own a house outright, then the amount you need to retire will be $1,327,635, and if you need to purchase the $599,900 home, then you will need $1,927,535. All of these retirement planning numbers are estimates. If you live in Yorba versus Hermosa Village, your numbers will vary. If you eat at Anaheim White House every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Anaheim.Need help saving for retirement? You can find a financial planner in Anaheim to get you started on that path.

Honolulu, Hawaii

Honolulu is a melting pot.
–Bruno Mars

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Honolulu, Hawaii?

Cost of Living in Honolulu, Hawaii

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $4,214.25 per month. Rent in a 3-bedroom apartment in the city center is $3,397.38 per month, and rent outside the city center is $2,677.16. That’s probably the difference between living in Manoa and living in Kaimuki. So, we’ll split the difference and say that the average rent is $3,037.27 per month.Therefore, the total estimated cost of living for a four-person family in Honolulu, Hawaii is $7,251.52 per month. This translates into a $87,018.24 annual cost of living. So, in order to retire in Honolulu while renting an apartment and abiding by the safe withdrawal rate, you would need $2,175,456.

Cost of Housing in Honolulu, Hawaii

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Honolulu? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $655,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Honolulu, Hawaii, property taxes are 29.1 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $655,000 home, you won’t have to pay the $3,037.27 per month in rent, but you will have the following expenses:

  • Property taxes: $1,906.05 per year
  • Insurance: $2,751.00 per year
  • Home maintenance: $6,550.00 per year
  • Total: $11,207.05 per year, or $933.92 per month

Therefore, your cost of living in Honolulu, Hawaii, if you own a home will be $5,148.17 per month, or $61,778.04 per year. If you already own a house outright, then the amount you need to retire will be $1,544,451, and if you need to purchase the $655,000 home, then you will need $2,199,451. All of these retirement planning numbers are estimates. If you live in Manoa versus Kaimuki, your numbers will vary. If you eat at Chef Mavro every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Honolulu.Need help saving for retirement? You can find a financial planner in Honolulu to get you started on that path.

Santa Ana, California

There is science, logic, reason; there is thought verified by experience. And then there is California.–Edward Abbey

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Santa Ana, California?

Cost of Living in Santa Ana, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $1,511.42 per month. Rent in a 3-bedroom apartment in the city center is $2,360.00 per month, and rent outside the city center is $2,420.00. That’s probably the difference between living in Portola Park and living in Wilshire Square. So, we’ll split the difference and say that the average rent is $2,390.00 per month.Therefore, the total estimated cost of living for a four-person family in Santa Ana, California is $3,901.42 per month. This translates into a $46,817.04 annual cost of living. So, in order to retire in Santa Ana while renting an apartment and abiding by the safe withdrawal rate, you would need $1,170,426.

Cost of Housing in Santa Ana, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Santa Ana? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $550,500. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Santa Ana, California, property taxes are 75.83 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $550,500 home, you won’t have to pay the $2,390.00 per month in rent, but you will have the following expenses:

  • Property taxes: $4,174.44 per year
  • Insurance: $2,312.10 per year
  • Home maintenance: $5,505.00 per year
  • Total: $11,991.54 per year, or $999.30 per month

Therefore, your cost of living in Santa Ana, California, if you own a home will be $2,510.72 per month, or $30,128.64 per year. If you already own a house outright, then the amount you need to retire will be $753,216, and if you need to purchase the $550,500 home, then you will need $1,303,716. All of these retirement planning numbers are estimates. If you live in Portola Park versus Wilshire Square, your numbers will vary. If you eat at Playground every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Santa Ana.Need help saving for retirement? You can find a financial planner in Santa Ana to get you started on that path.

Riverside, California

Life in California is beautiful.–Oscar Nunez

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Riverside, California?

Cost of Living in Riverside, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,486.33 per month. Rent in a 3-bedroom apartment in the city center is $1,993.75 per month, and rent outside the city center is $1,800.00. That’s probably the difference between living in La Sierra and living in Canyon Crest. So, we’ll split the difference and say that the average rent is $1,896.88 per month.Therefore, the total estimated cost of living for a four-person family in Riverside, California is $4,383.21 per month. This translates into a $52,598.46 annual cost of living. So, in order to retire in Riverside while renting an apartment and abiding by the safe withdrawal rate, you would need $1,314,962.

Cost of Housing in Riverside, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Riverside? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $432,950. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Riverside, California, property taxes are 79.86 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $432,950 home, you won’t have to pay the $1,896.88 per month in rent, but you will have the following expenses:

  • Property taxes: $3,457.54 per year
  • Insurance: $1,818.39 per year
  • Home maintenance: $4,329.50 per year
  • Total: $9,605.43 per year, or $800.45 per month

Therefore, your cost of living in Riverside, California, if you own a home will be $3,286.78 per month, or $39,441.36 per year. If you already own a house outright, then the amount you need to retire will be $986,034, and if you need to purchase the $432,950 home, then you will need $1,418,984. All of these retirement planning numbers are estimates. If you live in La Sierra versus Canyon Crest, your numbers will vary. If you eat at Mario’s Place every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Riverside.Need help saving for retirement? You can find a financial planner in Riverside to get you started on that path.

Corpus Christi, Texas

Q: What are the only two seasons in Corpus Christi?
A: Football and Construction.

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Corpus Christi, Texas?

Cost of Living in Corpus Christi, Texas

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,511.77 per month. Rent in a 3-bedroom apartment in the city center is $1,355.71 per month, and rent outside the city center is $1,300.00. That’s probably the difference between living in Padre Island and living in Flour Bluff. So, we’ll split the difference and say that the average rent is $1,327.86 per month.Therefore, the total estimated cost of living for a four-person family in Corpus Christi, Texas is $3,839.63 per month. This translates into a $46,075.50 annual cost of living. So, in order to retire in Corpus Christi while renting an apartment and abiding by the safe withdrawal rate, you would need $1,151,888.

Cost of Housing in Corpus Christi, Texas

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Corpus Christi? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $199,999. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Corpus Christi, Texas, property taxes are 138.12 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $199,999 home, you won’t have to pay the $1,327.86 per month in rent, but you will have the following expenses:

  • Property taxes: $2,762.39 per year
  • Insurance: $840.00 per year
  • Home maintenance: $1,999.99 per year
  • Total: $5,602.38 per year, or $466.86 per month

Therefore, your cost of living in Corpus Christi, Texas, if you own a home will be $2,978.63 per month, or $35,743.56 per year. If you already own a house outright, then the amount you need to retire will be $893,589, and if you need to purchase the $199,999 home, then you will need $1,093,588. All of these retirement planning numbers are estimates. If you live in Padre Island versus Flour Bluff, your numbers will vary. If you eat at Republic of Texas Bar & Grill every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Corpus Christi.Need help saving for retirement? You can find a financial planner in Corpus Christi to get you started on that path.

Lexington, Kentucky

Soon after, I returned home to my family, with a determination to bring them as soon as possible to live in Kentucky, which I esteemed a second paradise, at the risk of my life and fortune.
–Daniel Boone

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Lexington, Kentucky?

Cost of Living in Lexington, Kentucky

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,726.79 per month. Rent in a 3-bedroom apartment in the city center is $1,358.33 per month, and rent outside the city center is $1,070.00. That’s probably the difference between living in Tanbark and living in Zandale. So, we’ll split the difference and say that the average rent is $1,214.17 per month.Therefore, the total estimated cost of living for a four-person family in Lexington, Kentucky is $3,940.96 per month. This translates into a $47,291.46 annual cost of living. So, in order to retire in Lexington while renting an apartment and abiding by the safe withdrawal rate, you would need $1,182,287.

Cost of Housing in Lexington, Kentucky

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Lexington? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $249,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Lexington, Kentucky, property taxes are 76.3 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $249,900 home, you won’t have to pay the $1,214.17 per month in rent, but you will have the following expenses:

  • Property taxes: $1,906.74 per year
  • Insurance: $1,049.58 per year
  • Home maintenance: $2,499.00 per year
  • Total: $5,455.32 per year, or $454.61 per month

Therefore, your cost of living in Lexington, Kentucky, if you own a home will be $3,181.40 per month, or $38,176.80 per year. If you already own a house outright, then the amount you need to retire will be $954,420, and if you need to purchase the $249,900 home, then you will need $1,204,320. All of these retirement planning numbers are estimates. If you live in Tanbark versus Zandale, your numbers will vary. If you eat at Le Deauville every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Lexington.Need help saving for retirement? You can find a financial planner in Lexington to get you started on that path.

Stockton, California

If they can’t do it in California, it can’t be done anywhere.–Taylor Caldwell

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Stockton, California?

Cost of Living in Stockton, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,309.66 per month. Rent in a 3-bedroom apartment in the city center is $1,800.00 per month, and rent outside the city center is $1,833.33. That’s probably the difference between living in Akers and living in Spanos Park. So, we’ll split the difference and say that the average rent is $1,816.67 per month.Therefore, the total estimated cost of living for a four-person family in Stockton, California is $5,126.33 per month. This translates into a $61,515.90 annual cost of living. So, in order to retire in Stockton while renting an apartment and abiding by the safe withdrawal rate, you would need $1,537,898.

Cost of Housing in Stockton, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Stockton? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $295,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Stockton, California, property taxes are 79.86 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $295,000 home, you won’t have to pay the $1,816.67 per month in rent, but you will have the following expenses:

  • Property taxes: $2,355.87 per year
  • Insurance: $1,239.00 per year
  • Home maintenance: $2,950.00 per year
  • Total: $6,544.87 per year, or $545.41 per month

Therefore, your cost of living in Stockton, California, if you own a home will be $3,855.07 per month, or $46,260.84 per year. If you already own a house outright, then the amount you need to retire will be $1,156,521, and if you need to purchase the $295,000 home, then you will need $1,451,521. All of these retirement planning numbers are estimates. If you live in Akers versus Spanos Park, your numbers will vary. If you eat at Sugar Mediterranean Bistro every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Stockton.Need help saving for retirement? You can find a financial planner in Stockton to get you started on that path.

Henderson, Nevada

I like theme parks. The fastest roller coaster I’ve ever been on is at a casino in Nevada.
–Tia Carrere

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Henderson, Nevada?

Cost of Living in Henderson, Nevada

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,497.27 per month. Rent in a 3-bedroom apartment in the city center is $.00 per month, and rent outside the city center is $.00. That’s probably the difference between living in Green Valley Ranch and living in Gibson Springs. So, we’ll split the difference and say that the average rent is $.00 per month.Therefore, the total estimated cost of living for a four-person family in Henderson, Nevada is $2,497.27 per month. This translates into a $29,967.24 annual cost of living. So, in order to retire in Henderson while renting an apartment and abiding by the safe withdrawal rate, you would need $749,181.

Cost of Housing in Henderson, Nevada

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Henderson? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $363,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Henderson, Nevada, property taxes are 75.65 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $363,000 home, you won’t have to pay the $.00 per month in rent, but you will have the following expenses:

  • Property taxes: $2,746.10 per year
  • Insurance: $1,524.60 per year
  • Home maintenance: $3,630.00 per year
  • Total: $7,900.70 per year, or $658.39 per month

Therefore, your cost of living in Henderson, Nevada, if you own a home will be $3,155.66 per month, or $37,867.92 per year. If you already own a house outright, then the amount you need to retire will be $946,698, and if you need to purchase the $363,000 home, then you will need $1,309,698. All of these retirement planning numbers are estimates. If you live in Green Valley Ranch versus Gibson Springs, your numbers will vary. If you eat at King’s Fish House every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Henderson.Need help saving for retirement? You can find a financial planner in Henderson to get you started on that path.

Saint Paul, Minnesota

If you go to Minnesota in January, you should know that it’s gonna be cold. You don’t panic when the thermometer falls below zero.
–Peter Lynch

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Saint Paul, Minnesota?

Cost of Living in Saint Paul, Minnesota

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,255.37 per month. Rent in a 3-bedroom apartment in the city center is $2,087.50 per month, and rent outside the city center is $1,426.67. That’s probably the difference between living in Highland Park and living in Lowertown. So, we’ll split the difference and say that the average rent is $1,757.09 per month.Therefore, the total estimated cost of living for a four-person family in Saint Paul, Minnesota is $5,012.46 per month. This translates into a $60,149.46 annual cost of living. So, in order to retire in Saint Paul while renting an apartment and abiding by the safe withdrawal rate, you would need $1,503,737.

Cost of Housing in Saint Paul, Minnesota

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Saint Paul? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $219,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Saint Paul, Minnesota, property taxes are 103.45 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $219,900 home, you won’t have to pay the $1,757.09 per month in rent, but you will have the following expenses:

  • Property taxes: $2,274.87 per year
  • Insurance: $923.58 per year
  • Home maintenance: $2,199.00 per year
  • Total: $5,397.45 per year, or $449.79 per month

Therefore, your cost of living in Saint Paul, Minnesota, if you own a home will be $3,705.16 per month, or $44,461.92 per year. If you already own a house outright, then the amount you need to retire will be $1,111,548, and if you need to purchase the $219,900 home, then you will need $1,331,448. All of these retirement planning numbers are estimates. If you live in Highland Park versus Lowertown, your numbers will vary. If you eat at Forepaugh’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Saint Paul.Need help saving for retirement? You can find a financial planner in Saint Paul to get you started on that path.

St. Louis, Missouri

I have no hesitation to say that St. Louis is a great place in which to live and work.
–Stan Musial

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in St. Louis, Missouri?

Cost of Living in St. Louis, Missouri

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,997.56 per month. Rent in a 3-bedroom apartment in the city center is $1,448.21 per month, and rent outside the city center is $1,293.00. That’s probably the difference between living in Soulard and living in The Hill. So, we’ll split the difference and say that the average rent is $1,370.61 per month.Therefore, the total estimated cost of living for a four-person family in St. Louis, Missouri is $4,368.17 per month. This translates into a $52,417.98 annual cost of living. So, in order to retire in St. Louis while renting an apartment and abiding by the safe withdrawal rate, you would need $1,310,450.

Cost of Housing in St. Louis, Missouri

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in St. Louis? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $139,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In St. Louis, Missouri, property taxes are 84.08 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $139,900 home, you won’t have to pay the $1,370.61 per month in rent, but you will have the following expenses:

  • Property taxes: $1,176.28 per year
  • Insurance: $587.58 per year
  • Home maintenance: $1,399.00 per year
  • Total: $3,162.86 per year, or $263.57 per month

Therefore, your cost of living in St. Louis, Missouri, if you own a home will be $3,261.13 per month, or $39,133.56 per year. If you already own a house outright, then the amount you need to retire will be $978,339, and if you need to purchase the $139,900 home, then you will need $1,118,239. All of these retirement planning numbers are estimates. If you live in Soulard versus The Hill, your numbers will vary. If you eat at Dominic’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in St. Louis.Need help saving for retirement? You can find a financial planner in St. Louis to get you started on that path.

Cincinnati, Ohio

“When the end of the world comes, I want to be in Cincinnati because it’s always 20 years behind the times.”― Mark Twain

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Cincinnati, Ohio?

Cost of Living in Cincinnati, Ohio

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,850.68 per month. Rent in a 3-bedroom apartment in the city center is $1,800.00 per month, and rent outside the city center is $1,173.53. That’s probably the difference between living in Hyde Park and living in Clifton. So, we’ll split the difference and say that the average rent is $1,486.77 per month.Therefore, the total estimated cost of living for a four-person family in Cincinnati, Ohio is $4,337.45 per month. This translates into a $52,049.34 annual cost of living. So, in order to retire in Cincinnati while renting an apartment and abiding by the safe withdrawal rate, you would need $1,301,234.

Cost of Housing in Cincinnati, Ohio

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Cincinnati? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $199,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Cincinnati, Ohio, property taxes are 130.69 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $199,900 home, you won’t have to pay the $1,486.77 per month in rent, but you will have the following expenses:

  • Property taxes: $2,612.49 per year
  • Insurance: $839.58 per year
  • Home maintenance: $1,999.00 per year
  • Total: $5,451.07 per year, or $454.26 per month

Therefore, your cost of living in Cincinnati, Ohio, if you own a home will be $3,304.94 per month, or $39,659.28 per year. If you already own a house outright, then the amount you need to retire will be $991,482, and if you need to purchase the $199,900 home, then you will need $1,191,382. All of these retirement planning numbers are estimates. If you live in Hyde Park versus Clifton, your numbers will vary. If you eat at Boca every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Cincinnati.Need help saving for retirement? You can find a financial planner in Cincinnati to get you started on that path.

Pittsburgh, Pennsylvania

Everyone’s like, ‘Oh, you must live in L. A., the glamorous life,’ and I really don’t. I’m in a small house, in Pittsburgh, in the snow.
–Maddie Ziegler

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Pittsburgh, Pennsylvania?

Cost of Living in Pittsburgh, Pennsylvania

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,315.27 per month. Rent in a 3-bedroom apartment in the city center is $2,116.19 per month, and rent outside the city center is $1,401.62. That’s probably the difference between living in Shadyside and living in Squirrel Hill. So, we’ll split the difference and say that the average rent is $1,758.91 per month.Therefore, the total estimated cost of living for a four-person family in Pittsburgh, Pennsylvania is $5,074.18 per month. This translates into a $60,890.10 annual cost of living. So, in order to retire in Pittsburgh while renting an apartment and abiding by the safe withdrawal rate, you would need $1,522,253.

Cost of Housing in Pittsburgh, Pennsylvania

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Pittsburgh? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $199,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Pittsburgh, Pennsylvania, property taxes are 146.84 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $199,900 home, you won’t have to pay the $1,758.91 per month in rent, but you will have the following expenses:

  • Property taxes: $2,935.33 per year
  • Insurance: $839.58 per year
  • Home maintenance: $1,999.00 per year
  • Total: $5,773.91 per year, or $481.16 per month

Therefore, your cost of living in Pittsburgh, Pennsylvania, if you own a home will be $3,796.43 per month, or $45,557.16 per year. If you already own a house outright, then the amount you need to retire will be $1,138,929, and if you need to purchase the $199,900 home, then you will need $1,338,829. All of these retirement planning numbers are estimates. If you live in Shadyside versus Squirrel Hill, your numbers will vary. If you eat at Altius every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Pittsburgh.Need help saving for retirement? You can find a financial planner in Pittsburgh to get you started on that path.

Greensboro, North Carolina

“You know you’re from North Carolina when 50 degrees Fahrenheit is a little chilly.”
–Kate Green

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Greensboro, North Carolina?

Cost of Living in Greensboro, North Carolina

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,507.75 per month. Rent in a 3-bedroom apartment in the city center is $1,500.00 per month, and rent outside the city center is $1,100.00. That’s probably the difference between living in Lindley Park and living in Lake Jeanette. So, we’ll split the difference and say that the average rent is $1,300.00 per month.Therefore, the total estimated cost of living for a four-person family in Greensboro, North Carolina is $3,807.75 per month. This translates into a $45,693.00 annual cost of living. So, in order to retire in Greensboro while renting an apartment and abiding by the safe withdrawal rate, you would need $1,142,325.

Cost of Housing in Greensboro, North Carolina

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Greensboro? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $195,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Greensboro, North Carolina, property taxes are 80.02 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $195,000 home, you won’t have to pay the $1,300.00 per month in rent, but you will have the following expenses:

  • Property taxes: $1,560.39 per year
  • Insurance: $819.00 per year
  • Home maintenance: $1,950.00 per year
  • Total: $4,329.39 per year, or $360.78 per month

Therefore, your cost of living in Greensboro, North Carolina, if you own a home will be $2,868.53 per month, or $34,422.36 per year. If you already own a house outright, then the amount you need to retire will be $860,559, and if you need to purchase the $195,000 home, then you will need $1,055,559. All of these retirement planning numbers are estimates. If you live in Lindley Park versus Lake Jeanette, your numbers will vary. If you eat at Green Valley Grill every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Greensboro.Need help saving for retirement? You can find a financial planner in Greensboro to get you started on that path.

Anchorage, Alaska

To the lover of wilderness, Alaska is one of the most wonderful countries in the world.
–John Muir

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Anchorage, Alaska?

Cost of Living in Anchorage, Alaska

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,620.82 per month. Rent in a 3-bedroom apartment in the city center is $1,975.48 per month, and rent outside the city center is $1,719.57. That’s probably the difference between living in Eagle River and living in Girdwood. So, we’ll split the difference and say that the average rent is $1,847.53 per month.Therefore, the total estimated cost of living for a four-person family in Anchorage, Alaska is $5,468.35 per month. This translates into a $65,620.14 annual cost of living. So, in order to retire in Anchorage while renting an apartment and abiding by the safe withdrawal rate, you would need $1,640,504.

Cost of Housing in Anchorage, Alaska

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Anchorage? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $309,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Anchorage, Alaska, property taxes are 84.9 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $309,000 home, you won’t have to pay the $1,847.53 per month in rent, but you will have the following expenses:

  • Property taxes: $2,623.41 per year
  • Insurance: $1,297.80 per year
  • Home maintenance: $3,090.00 per year
  • Total: $7,011.21 per year, or $584.27 per month

Therefore, your cost of living in Anchorage, Alaska, if you own a home will be $4,205.09 per month, or $50,461.08 per year. If you already own a house outright, then the amount you need to retire will be $1,261,527, and if you need to purchase the $309,000 home, then you will need $1,570,527. All of these retirement planning numbers are estimates. If you live in Eagle River versus Girdwood, your numbers will vary. If you eat at Orso every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Anchorage.Need help saving for retirement? You can find a financial planner in Anchorage to get you started on that path.

Plano, Texas

I’d rather be a fencepost in Texas, than the king of Tennessee.–Chris Wall

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Plano, Texas?

Cost of Living in Plano, Texas

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,737.02 per month. Rent in a 3-bedroom apartment in the city center is $1,633.33 per month, and rent outside the city center is $1,571.43. That’s probably the difference between living in Willow Bend and living in Ridgeview Ranch. So, we’ll split the difference and say that the average rent is $1,602.38 per month.Therefore, the total estimated cost of living for a four-person family in Plano, Texas is $4,339.40 per month. This translates into a $52,072.80 annual cost of living. So, in order to retire in Plano while renting an apartment and abiding by the safe withdrawal rate, you would need $1,301,820.

Cost of Housing in Plano, Texas

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Plano? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $374,945. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Plano, Texas, property taxes are 138.12 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $374,945 home, you won’t have to pay the $1,602.38 per month in rent, but you will have the following expenses:

  • Property taxes: $5,178.74 per year
  • Insurance: $1,574.77 per year
  • Home maintenance: $3,749.45 per year
  • Total: $10,502.96 per year, or $875.25 per month

Therefore, your cost of living in Plano, Texas, if you own a home will be $3,612.27 per month, or $43,347.24 per year. If you already own a house outright, then the amount you need to retire will be $1,083,681, and if you need to purchase the $374,945 home, then you will need $1,458,626. All of these retirement planning numbers are estimates. If you live in Willow Bend versus Ridgeview Ranch, your numbers will vary. If you eat at Roy’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Plano.Need help saving for retirement? You can find a financial planner in Plano to get you started on that path.

Lincoln, Nebraska

I’m the kind of person who would love to play whenever I felt like, with a band, and it might as well be the Holiday Inn in Nebraska – somewhere where no one knows you, and you’re in a band situation just playing music.
–George Harrison

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Lincoln, Nebraska?

Cost of Living in Lincoln, Nebraska

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,657.09 per month. Rent in a 3-bedroom apartment in the city center is $1,466.67 per month, and rent outside the city center is $1,150.00. That’s probably the difference between living in North Bottoms and living in Irvingdale. So, we’ll split the difference and say that the average rent is $1,308.34 per month.Therefore, the total estimated cost of living for a four-person family in Lincoln, Nebraska is $3,965.43 per month. This translates into a $47,585.10 annual cost of living. So, in order to retire in Lincoln while renting an apartment and abiding by the safe withdrawal rate, you would need $1,189,628.

Cost of Housing in Lincoln, Nebraska

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Lincoln? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $240,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Lincoln, Nebraska, property taxes are 157.41 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $240,000 home, you won’t have to pay the $1,308.34 per month in rent, but you will have the following expenses:

  • Property taxes: $3,777.84 per year
  • Insurance: $1,008.00 per year
  • Home maintenance: $2,400.00 per year
  • Total: $7,185.84 per year, or $598.82 per month

Therefore, your cost of living in Lincoln, Nebraska, if you own a home will be $3,255.91 per month, or $39,070.92 per year. If you already own a house outright, then the amount you need to retire will be $976,773, and if you need to purchase the $240,000 home, then you will need $1,216,773. All of these retirement planning numbers are estimates. If you live in North Bottoms versus Irvingdale, your numbers will vary. If you eat at the Normandy every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Lincoln.Need help saving for retirement? You can find a financial planner in Lincoln to get you started on that path.

Orlando, Florida

I represent Orlando, Florida, the world’s number one vacation destination.–Ric Keller

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Orlando, Florida?

Cost of Living in Orlando, Florida

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,080.74 per month. Rent in a 3-bedroom apartment in the city center is $2,001.62 per month, and rent outside the city center is $1,633.26. That’s probably the difference between living in Parramore and living in Clear Lake. So, we’ll split the difference and say that the average rent is $1,817.44 per month.Therefore, the total estimated cost of living for a four-person family in Orlando, Florida is $4,898.18 per month. This translates into a $58,778.16 annual cost of living. So, in order to retire in Orlando while renting an apartment and abiding by the safe withdrawal rate, you would need $1,469,454.

Cost of Housing in Orlando, Florida

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Orlando? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $278,998. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Orlando, Florida, property taxes are 93.34 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $278,998 home, you won’t have to pay the $1,817.44 per month in rent, but you will have the following expenses:

  • Property taxes: $2,604.17 per year
  • Insurance: $1,171.79 per year
  • Home maintenance: $2,789.98 per year
  • Total: $6,565.94 per year, or $547.16 per month

Therefore, your cost of living in Orlando, Florida, if you own a home will be $3,627.90 per month, or $43,534.80 per year. If you already own a house outright, then the amount you need to retire will be $1,088,370, and if you need to purchase the $278,998 home, then you will need $1,367,368. All of these retirement planning numbers are estimates. If you live in Parramore versus Clear Lake, your numbers will vary. If you eat at Norman’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Orlando.Need help saving for retirement? You can find a financial planner in Orlando to get you started on that path.

Irvine, California

Growing up in suburbia, in safe, master-planned Irvine, there was no drama so we had to create it in our heads. My main form of entertainment was cracking my friends up and exploring new ways of being funny. I didn’t have to have the survival mode instinct like other comics, who grew up in tough neighborhoods. I had the opposite. For me, I grew up in Mayberry, and the humor broke the boredom. And there was a lot to make fun of.
–Will Ferrell

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Irvine, California?

Cost of Living in Irvine, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,382.44 per month. Rent in a 3-bedroom apartment in the city center is $3,188.47 per month, and rent outside the city center is $2,841.15. That’s probably the difference between living in Turtle Rock and living in Laguna Altura. So, we’ll split the difference and say that the average rent is $3,014.81 per month.Therefore, the total estimated cost of living for a four-person family in Irvine, California is $6,397.25 per month. This translates into a $76,767.00 annual cost of living. So, in order to retire in Irvine while renting an apartment and abiding by the safe withdrawal rate, you would need $1,919,175.

Cost of Housing in Irvine, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Irvine? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $999,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Irvine, California, property taxes are 75.83 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $999,900 home, you won’t have to pay the $3,014.81 per month in rent, but you will have the following expenses:

  • Property taxes: $7,582.24 per year
  • Insurance: $4,199.58 per year
  • Home maintenance: $9,999.00 per year
  • Total: $21,780.82 per year, or $1,815.07 per month

Therefore, your cost of living in Irvine, California, if you own a home will be $5,197.51 per month, or $62,370.12 per year. If you already own a house outright, then the amount you need to retire will be $1,559,253, and if you need to purchase the $999,900 home, then you will need $2,559,153. All of these retirement planning numbers are estimates. If you live in Turtle Rock versus Laguna Altura, your numbers will vary. If you eat at Bistango every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Irvine.Need help saving for retirement? You can find a financial planner in Irvine to get you started on that path.

Newark, New Jersey

I was born in New York City, but I was raised in New Jersey, part of the great Jewish emigration of 1963.
–Jon Stewart

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Newark, New Jersey?

Cost of Living in Newark, New Jersey

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,031.63 per month. Rent in a 3-bedroom apartment in the city center is $2,340.00 per month, and rent outside the city center is $1,740.00. That’s probably the difference between living in Weequahic and living in Forest Hill. So, we’ll split the difference and say that the average rent is $2,040.00 per month.Therefore, the total estimated cost of living for a four-person family in Newark, New Jersey is $5,071.63 per month. This translates into a $60,859.56 annual cost of living. So, in order to retire in Newark while renting an apartment and abiding by the safe withdrawal rate, you would need $1,521,489.

Cost of Housing in Newark, New Jersey

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Newark? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $249,450. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Newark, New Jersey, property taxes are 246.71 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $249,450 home, you won’t have to pay the $2,040.00 per month in rent, but you will have the following expenses:

  • Property taxes: $6,154.18 per year
  • Insurance: $1,047.69 per year
  • Home maintenance: $2,494.50 per year
  • Total: $9,696.37 per year, or $808.03 per month

Therefore, your cost of living in Newark, New Jersey, if you own a home will be $3,839.66 per month, or $46,075.92 per year. If you already own a house outright, then the amount you need to retire will be $1,151,898, and if you need to purchase the $249,450 home, then you will need $1,401,348. All of these retirement planning numbers are estimates. If you live in Weequahic versus Forest Hill, your numbers will vary. If you eat at Fornos every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Newark.Need help saving for retirement? You can find a financial planner in Newark to get you started on that path.

Toledo, Ohio

I love Ohio.
–Dave Chappelle

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Toledo, Ohio?

Cost of Living in Toledo, Ohio

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,803.15 per month. Rent in a 3-bedroom apartment in the city center is $983.33 per month, and rent outside the city center is $961.11. That’s probably the difference between living in Point Place and living in DeVeaux. So, we’ll split the difference and say that the average rent is $972.22 per month.Therefore, the total estimated cost of living for a four-person family in Toledo, Ohio is $3,775.37 per month. This translates into a $45,304.44 annual cost of living. So, in order to retire in Toledo while renting an apartment and abiding by the safe withdrawal rate, you would need $1,132,611.

Cost of Housing in Toledo, Ohio

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Toledo? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $79,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Toledo, Ohio, property taxes are 130.69 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $79,000 home, you won’t have to pay the $972.22 per month in rent, but you will have the following expenses:

  • Property taxes: $1,032.45 per year
  • Insurance: $331.80 per year
  • Home maintenance: $790.00 per year
  • Total: $2,154.25 per year, or $179.52 per month

Therefore, your cost of living in Toledo, Ohio, if you own a home will be $2,982.67 per month, or $35,792.04 per year. If you already own a house outright, then the amount you need to retire will be $894,801, and if you need to purchase the $79,000 home, then you will need $973,801. All of these retirement planning numbers are estimates. If you live in Point Place versus DeVeaux, your numbers will vary. If you eat at Rockwell’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Toledo.Need help saving for retirement? You can find a financial planner in Toledo to get you started on that path.

Durham, North Carolina

When I was a young boy, growing up in Durham, North Carolina, the women in my family were truly passionate about their clothes; nothing was more beautiful to me than women dressing with the utmost, meticulous attention to accessories, shoes, handbags, hats, coats, dresses and gloves to attend Sunday church services.
–Andre Leon Talley

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Durham, North Carolina?

Cost of Living in Durham, North Carolina

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,948.81 per month. Rent in a 3-bedroom apartment in the city center is $2,000.00 per month, and rent outside the city center is $1,290.00. That’s probably the difference between living in Lyon Park and living in Brightleaf. So, we’ll split the difference and say that the average rent is $1,645.00 per month.Therefore, the total estimated cost of living for a four-person family in Durham, North Carolina is $4,593.81 per month. This translates into a $55,125.72 annual cost of living. So, in order to retire in Durham while renting an apartment and abiding by the safe withdrawal rate, you would need $1,378,143.

Cost of Housing in Durham, North Carolina

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Durham? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $299,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Durham, North Carolina, property taxes are 80.02 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $299,900 home, you won’t have to pay the $1,645.00 per month in rent, but you will have the following expenses:

  • Property taxes: $2,399.80 per year
  • Insurance: $1,259.58 per year
  • Home maintenance: $2,999.00 per year
  • Total: $6,658.38 per year, or $554.86 per month

Therefore, your cost of living in Durham, North Carolina, if you own a home will be $3,503.67 per month, or $42,044.04 per year. If you already own a house outright, then the amount you need to retire will be $1,051,101, and if you need to purchase the $299,900 home, then you will need $1,351,001. All of these retirement planning numbers are estimates. If you live in Lyon Park versus Brightleaf, your numbers will vary. If you eat at NanaSteak every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Durham.Need help saving for retirement? You can find a financial planner in Durham to get you started on that path.

Chula Vista, California

I’d rather be in prison in California than free anywhere else.–Inez Haynes Irwin

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Chula Vista, California?

Cost of Living in Chula Vista, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $4,288.51 per month. Rent in a 3-bedroom apartment in the city center is $2,756.25 per month, and rent outside the city center is $2,714.00. That’s probably the difference between living in Rancho del Rey and living in Castle Park. So, we’ll split the difference and say that the average rent is $2,735.13 per month.Therefore, the total estimated cost of living for a four-person family in Chula Vista, California is $7,023.64 per month. This translates into a $84,283.62 annual cost of living. So, in order to retire in Chula Vista while renting an apartment and abiding by the safe withdrawal rate, you would need $2,107,091.

Cost of Housing in Chula Vista, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Chula Vista? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $528,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Chula Vista, California, property taxes are 79.86 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $528,000 home, you won’t have to pay the $2,735.13 per month in rent, but you will have the following expenses:

  • Property taxes: $4,216.61 per year
  • Insurance: $2,217.60 per year
  • Home maintenance: $5,280.00 per year
  • Total: $11,714.21 per year, or $976.18 per month

Therefore, your cost of living in Chula Vista, California, if you own a home will be $5,264.69 per month, or $63,176.28 per year. If you already own a house outright, then the amount you need to retire will be $1,579,407, and if you need to purchase the $528,000 home, then you will need $2,107,407. All of these retirement planning numbers are estimates. If you live in Rancho del Rey versus Castle Park, your numbers will vary. If you eat at Savoie every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Chula Vista.Need help saving for retirement? You can find a financial planner in Chula Vista to get you started on that path.

Fort Wayne, Indiana

Well, I was born and raised in the Midwest, in Indiana specifically, and my childhood was full of weekend movies, you know, the Saturday and Sunday popcorn movies.
–Sydney Pollack

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Fort Wayne, Indiana?

Cost of Living in Fort Wayne, Indiana

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,654.66 per month. Rent in a 3-bedroom apartment in the city center is $1,166.67 per month, and rent outside the city center is $816.67. That’s probably the difference between living in Ludwig Park and living in Bellair. So, we’ll split the difference and say that the average rent is $991.67 per month.Therefore, the total estimated cost of living for a four-person family in Fort Wayne, Indiana is $3,646.33 per month. This translates into a $43,755.96 annual cost of living. So, in order to retire in Fort Wayne while renting an apartment and abiding by the safe withdrawal rate, you would need $1,093,899.

Cost of Housing in Fort Wayne, Indiana

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Fort Wayne? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $149,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Fort Wayne, Indiana, property taxes are 74.15 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $149,900 home, you won’t have to pay the $991.67 per month in rent, but you will have the following expenses:

  • Property taxes: $1,111.51 per year
  • Insurance: $629.58 per year
  • Home maintenance: $1,499.00 per year
  • Total: $3,240.09 per year, or $270.01 per month

Therefore, your cost of living in Fort Wayne, Indiana, if you own a home will be $2,924.67 per month, or $35,096.04 per year. If you already own a house outright, then the amount you need to retire will be $877,401, and if you need to purchase the $149,900 home, then you will need $1,027,301. All of these retirement planning numbers are estimates. If you live in Ludwig Park versus Bellair, your numbers will vary. If you eat at BakerStreet Steakhouse every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Fort Wayne.Need help saving for retirement? You can find a financial planner in Fort Wayne to get you started on that path.

Jersey City, New Jersey

The major poets of New Jersey have all suffered, whether it’s Whitman, who lost his job for ‘Leaves of Grass,’ or William Carlos Williams, who was called a communist, or Ginsberg, whose ‘Howl’ was prosecuted, or myself. If you practise poetry the way I think it needs to be done, you’re going to put yourself in jeopardy.
–Amiri Baraka

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Jersey City, New Jersey?

Cost of Living in Jersey City, New Jersey

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,611.60 per month. Rent in a 3-bedroom apartment in the city center is $3,292.22 per month, and rent outside the city center is $1,975.67. That’s probably the difference between living in Newport and living in Paulus Hook. So, we’ll split the difference and say that the average rent is $2,633.95 per month.Therefore, the total estimated cost of living for a four-person family in Jersey City, New Jersey is $6,245.55 per month. This translates into a $74,946.54 annual cost of living. So, in order to retire in Jersey City while renting an apartment and abiding by the safe withdrawal rate, you would need $1,873,664.

Cost of Housing in Jersey City, New Jersey

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Jersey City? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $574,500. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Jersey City, New Jersey, property taxes are 246.71 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $574,500 home, you won’t have to pay the $2,633.95 per month in rent, but you will have the following expenses:

  • Property taxes: $14,173.49 per year
  • Insurance: $2,412.90 per year
  • Home maintenance: $5,745.00 per year
  • Total: $22,331.39 per year, or $1,860.95 per month

Therefore, your cost of living in Jersey City, New Jersey, if you own a home will be $5,472.55 per month, or $65,670.60 per year. If you already own a house outright, then the amount you need to retire will be $1,641,765, and if you need to purchase the $574,500 home, then you will need $2,216,265. All of these retirement planning numbers are estimates. If you live in Newport versus Paulus Hook, your numbers will vary. If you eat at Battello every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Jersey City.Need help saving for retirement? You can find a financial planner in Jersey City to get you started on that path.

St. Petersburg, Florida

Two things Florida can teach the other 49 states: how to make a good margarita and how to deal with the aftermath of a hurricane.–Tom Feeney

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in St. Petersburg, Florida?

Cost of Living in St. Petersburg, Florida

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,120.94 per month. Rent in a 3-bedroom apartment in the city center is $2,360.00 per month, and rent outside the city center is $1,688.89. That’s probably the difference between living in Isla del Sol and living in Snell Isle. So, we’ll split the difference and say that the average rent is $2,024.45 per month.Therefore, the total estimated cost of living for a four-person family in St. Petersburg, Florida is $5,145.39 per month. This translates into a $61,744.62 annual cost of living. So, in order to retire in St. Petersburg while renting an apartment and abiding by the safe withdrawal rate, you would need $1,543,616.

Cost of Housing in St. Petersburg, Florida

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in St. Petersburg? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $279,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In St. Petersburg, Florida, property taxes are 93.34 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $279,000 home, you won’t have to pay the $2,024.45 per month in rent, but you will have the following expenses:

  • Property taxes: $2,604.19 per year
  • Insurance: $1,171.80 per year
  • Home maintenance: $2,790.00 per year
  • Total: $6,565.99 per year, or $547.17 per month

Therefore, your cost of living in St. Petersburg, Florida, if you own a home will be $3,668.11 per month, or $44,017.32 per year. If you already own a house outright, then the amount you need to retire will be $1,100,433, and if you need to purchase the $279,000 home, then you will need $1,379,433. All of these retirement planning numbers are estimates. If you live in Isla del Sol versus Snell Isle, your numbers will vary. If you eat at Il Ritorno every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in St. Petersburg.Need help saving for retirement? You can find a financial planner in St. Petersburg to get you started on that path.

Laredo, Texas

Some folks look at me and see a certain swagger, which in Texas is called ‘walking.’
–George W. Bush

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Laredo, Texas?

Cost of Living in Laredo, Texas

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,459.27 per month. Rent in a 3-bedroom apartment in the city center is $1,550.00 per month, and rent outside the city center is $1,433.33. That’s probably the difference between living in La Bota Ranch and living in North Heights. So, we’ll split the difference and say that the average rent is $1,491.67 per month.Therefore, the total estimated cost of living for a four-person family in Laredo, Texas is $3,950.94 per month. This translates into a $47,411.22 annual cost of living. So, in order to retire in Laredo while renting an apartment and abiding by the safe withdrawal rate, you would need $1,185,281.

Cost of Housing in Laredo, Texas

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Laredo? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $181,995. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Laredo, Texas, property taxes are 138.12 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $181,995 home, you won’t have to pay the $1,491.67 per month in rent, but you will have the following expenses:

  • Property taxes: $2,513.71 per year
  • Insurance: $764.38 per year
  • Home maintenance: $1,819.95 per year
  • Total: $5,098.04 per year, or $424.84 per month

Therefore, your cost of living in Laredo, Texas, if you own a home will be $2,884.11 per month, or $34,609.32 per year. If you already own a house outright, then the amount you need to retire will be $865,233, and if you need to purchase the $181,995 home, then you will need $1,047,228. All of these retirement planning numbers are estimates. If you live in La Bota Ranch versus North Heights, your numbers will vary. If you eat at Border Foundry every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Laredo.Need help saving for retirement? You can find a financial planner in Laredo to get you started on that path.

Madison, Wisconsin

In Wisconsin, style-wise, it was all about bundling up, maybe wearing a hat and forgetting about your hair.
–J. J. Watt

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Madison, Wisconsin?

Cost of Living in Madison, Wisconsin

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,919.43 per month. Rent in a 3-bedroom apartment in the city center is $1,931.00 per month, and rent outside the city center is $1,470.50. That’s probably the difference between living in Emerson East and living in Glen Oak Hills. So, we’ll split the difference and say that the average rent is $1,700.75 per month.Therefore, the total estimated cost of living for a four-person family in Madison, Wisconsin is $4,620.18 per month. This translates into a $55,442.16 annual cost of living. So, in order to retire in Madison while renting an apartment and abiding by the safe withdrawal rate, you would need $1,386,054.

Cost of Housing in Madison, Wisconsin

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Madison? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $296,050. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Madison, Wisconsin, property taxes are 179.75 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $296,050 home, you won’t have to pay the $1,700.75 per month in rent, but you will have the following expenses:

  • Property taxes: $5,321.50 per year
  • Insurance: $1,243.41 per year
  • Home maintenance: $2,960.50 per year
  • Total: $9,525.41 per year, or $793.78 per month

Therefore, your cost of living in Madison, Wisconsin, if you own a home will be $3,713.21 per month, or $44,558.52 per year. If you already own a house outright, then the amount you need to retire will be $1,113,963, and if you need to purchase the $296,050 home, then you will need $1,410,013. All of these retirement planning numbers are estimates. If you live in Emerson East versus Glen Oak Hills, your numbers will vary. If you eat at Harvest every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Madison.Need help saving for retirement? You can find a financial planner in Madison to get you started on that path.

Chandler, Arizona

You know you’re from Arizona when you feed your chickens ice cubes to keep them from laying hard-boiled eggs.–Local saying

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Chandler, Arizona?

Cost of Living in Chandler, Arizona

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,705.99 per month. Rent in a 3-bedroom apartment in the city center is $1,616.67 per month, and rent outside the city center is $1,358.33. That’s probably the difference between living in Downtown and living in Ocotillo. So, we’ll split the difference and say that the average rent is $1,487.50 per month.Therefore, the total estimated cost of living for a four-person family in Chandler, Arizona is $4,193.49 per month. This translates into a $50,321.88 annual cost of living. So, in order to retire in Chandler while renting an apartment and abiding by the safe withdrawal rate, you would need $1,258,047.

Cost of Housing in Chandler, Arizona

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Chandler? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $330,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Chandler, Arizona, property taxes are 77.33 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $330,000 home, you won’t have to pay the $1,487.50 per month in rent, but you will have the following expenses:

  • Property taxes: $2,551.89 per year
  • Insurance: $1,386.00 per year
  • Home maintenance: $3,300.00 per year
  • Total: $7,237.89 per year, or $603.16 per month

Therefore, your cost of living in Chandler, Arizona, if you own a home will be $3,309.15 per month, or $39,709.80 per year. If you already own a house outright, then the amount you need to retire will be $992,745, and if you need to purchase the $330,000 home, then you will need $1,322,745. All of these retirement planning numbers are estimates. If you live in Downtown versus Ocotillo, your numbers will vary. If you eat at Chop Chandler every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Chandler.Need help saving for retirement? You can find a financial planner in Chandler to get you started on that path.

Buffalo, New York

“It’s not snowing right now, but give it five minutes.”
–Every Buffalo resident

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Buffalo, New York?

Cost of Living in Buffalo, New York

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,087.89 per month. Rent in a 3-bedroom apartment in the city center is $1,453.33 per month, and rent outside the city center is $1,100.00. That’s probably the difference between living in Allentown and living in Kaisertown. So, we’ll split the difference and say that the average rent is $1,276.67 per month.Therefore, the total estimated cost of living for a four-person family in Buffalo, New York is $4,364.56 per month. This translates into a $52,374.66 annual cost of living. So, in order to retire in Buffalo while renting an apartment and abiding by the safe withdrawal rate, you would need $1,309,367.

Cost of Housing in Buffalo, New York

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Buffalo? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $89,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Buffalo, New York, property taxes are 230.5 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $89,900 home, you won’t have to pay the $1,276.67 per month in rent, but you will have the following expenses:

  • Property taxes: $2,072.20 per year
  • Insurance: $377.58 per year
  • Home maintenance: $899.00 per year
  • Total: $3,348.78 per year, or $279.06 per month

Therefore, your cost of living in Buffalo, New York, if you own a home will be $3,366.95 per month, or $40,403.40 per year. If you already own a house outright, then the amount you need to retire will be $1,010,085, and if you need to purchase the $89,900 home, then you will need $1,099,985. All of these retirement planning numbers are estimates. If you live in Allentown versus Kaisertown, your numbers will vary. If you eat at Hutch’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Buffalo.Need help saving for retirement? You can find a financial planner in Buffalo to get you started on that path.

Lubbock, Texas

Sometimes a pirate beats a soldier.
–Mike Leach

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Lubbock, Texas?

Cost of Living in Lubbock, Texas

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,692.17 per month. Rent in a 3-bedroom apartment in the city center is $1,194.44 per month, and rent outside the city center is $1,053.12. That’s probably the difference between living in Tech Terrace and living in Depot District. So, we’ll split the difference and say that the average rent is $1,123.78 per month.Therefore, the total estimated cost of living for a four-person family in Lubbock, Texas is $3,815.95 per month. This translates into a $45,791.40 annual cost of living. So, in order to retire in Lubbock while renting an apartment and abiding by the safe withdrawal rate, you would need $1,144,785.

Cost of Housing in Lubbock, Texas

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Lubbock? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $187,950. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Lubbock, Texas, property taxes are 138.12 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $187,950 home, you won’t have to pay the $1,123.78 per month in rent, but you will have the following expenses:

  • Property taxes: $2,595.97 per year
  • Insurance: $789.39 per year
  • Home maintenance: $1,879.50 per year
  • Total: $5,264.86 per year, or $438.74 per month

Therefore, your cost of living in Lubbock, Texas, if you own a home will be $3,130.91 per month, or $37,570.92 per year. If you already own a house outright, then the amount you need to retire will be $939,273, and if you need to purchase the $187,950 home, then you will need $1,127,223. All of these retirement planning numbers are estimates. If you live in Tech Terrace versus Depot District, your numbers will vary. If you eat at La Sirena every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Lubbock.Need help saving for retirement? You can find a financial planner in Lubbock to get you started on that path.

Scottsdale, Arizona

There’s not a single person in Arizona today who would say the Grand Canyon was a mistake.
–Stewart Udall

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Scottsdale, Arizona?

Cost of Living in Scottsdale, Arizona

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,790.20 per month. Rent in a 3-bedroom apartment in the city center is $1,877.22 per month, and rent outside the city center is $1,771.50. That’s probably the difference between living in Fashion Square and living in Troon North. So, we’ll split the difference and say that the average rent is $1,824.36 per month.Therefore, the total estimated cost of living for a four-person family in Scottsdale, Arizona is $4,614.56 per month. This translates into a $55,374.72 annual cost of living. So, in order to retire in Scottsdale while renting an apartment and abiding by the safe withdrawal rate, you would need $1,384,368.

Cost of Housing in Scottsdale, Arizona

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Scottsdale? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $600,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Scottsdale, Arizona, property taxes are 77.33 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $600,000 home, you won’t have to pay the $1,824.36 per month in rent, but you will have the following expenses:

  • Property taxes: $4,639.80 per year
  • Insurance: $2,520.00 per year
  • Home maintenance: $6,000.00 per year
  • Total: $13,159.80 per year, or $1,096.65 per month

Therefore, your cost of living in Scottsdale, Arizona, if you own a home will be $3,886.85 per month, or $46,642.20 per year. If you already own a house outright, then the amount you need to retire will be $1,166,055, and if you need to purchase the $600,000 home, then you will need $1,766,055. All of these retirement planning numbers are estimates. If you live in Fashion Square versus Troon North, your numbers will vary. If you eat at Virtu every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Scottsdale.Need help saving for retirement? You can find a financial planner in Scottsdale to get you started on that path.

Reno, Nevada

Super Troopers is hilarious. Everybody always thought we somehow – we did Reno way, way before any of us had seen Super Troopers. It sat on the shelf for a couple years.
–Thomas Lennon

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Reno, Nevada?

Cost of Living in Reno, Nevada

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,830.82 per month. Rent in a 3-bedroom apartment in the city center is $1,795.00 per month, and rent outside the city center is $1,621.19. That’s probably the difference between living in Ward 3 and living in Panther Valley. So, we’ll split the difference and say that the average rent is $1,708.10 per month.Therefore, the total estimated cost of living for a four-person family in Reno, Nevada is $4,538.92 per month. This translates into a $54,466.98 annual cost of living. So, in order to retire in Reno while renting an apartment and abiding by the safe withdrawal rate, you would need $1,361,675.

Cost of Housing in Reno, Nevada

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Reno? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $429,970. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Reno, Nevada, property taxes are 75.65 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $429,970 home, you won’t have to pay the $1,708.10 per month in rent, but you will have the following expenses:

  • Property taxes: $3,252.72 per year
  • Insurance: $1,805.87 per year
  • Home maintenance: $4,299.70 per year
  • Total: $9,358.29 per year, or $779.86 per month

Therefore, your cost of living in Reno, Nevada, if you own a home will be $3,610.68 per month, or $43,328.16 per year. If you already own a house outright, then the amount you need to retire will be $1,083,204, and if you need to purchase the $429,970 home, then you will need $1,513,174. All of these retirement planning numbers are estimates. If you live in Ward 3 versus Panther Valley, your numbers will vary. If you eat at Charlie Palmer Steak every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Reno.Need help saving for retirement? You can find a financial planner in Reno to get you started on that path.

Glendale, Arizona

You know you’re from Arizona when you drive two miles around a parking lot looking for a shady place – even in the dead of winter.–Local saying

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Glendale, Arizona?

Cost of Living in Glendale, Arizona

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,195.40 per month. Rent in a 3-bedroom apartment in the city center is $3,433.33 per month, and rent outside the city center is $2,707.14. That’s probably the difference between living in Westgate and living in Fountain Shadows. So, we’ll split the difference and say that the average rent is $3,070.24 per month.Therefore, the total estimated cost of living for a four-person family in Glendale, Arizona is $6,265.64 per month. This translates into a $75,187.62 annual cost of living. So, in order to retire in Glendale while renting an apartment and abiding by the safe withdrawal rate, you would need $1,879,691.

Cost of Housing in Glendale, Arizona

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Glendale? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $250,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Glendale, Arizona, property taxes are 77.33 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $250,000 home, you won’t have to pay the $3,070.24 per month in rent, but you will have the following expenses:

  • Property taxes: $1,933.25 per year
  • Insurance: $1,050.00 per year
  • Home maintenance: $2,500.00 per year
  • Total: $5,483.25 per year, or $456.94 per month

Therefore, your cost of living in Glendale, Arizona, if you own a home will be $3,652.34 per month, or $43,828.08 per year. If you already own a house outright, then the amount you need to retire will be $1,095,702, and if you need to purchase the $250,000 home, then you will need $1,345,702. All of these retirement planning numbers are estimates. If you live in Westgate versus Fountain Shadows, your numbers will vary. If you eat at Bottega every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Glendale.Need help saving for retirement? You can find a financial planner in Glendale to get you started on that path.

Winston–Salem, North Carolina

I grew up in North Carolina, and I grew up on wrestling.
–Ken Jeong

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Winston–Salem, North Carolina?

Cost of Living in Winston–Salem, North Carolina

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,983.12 per month. Rent in a 3-bedroom apartment in the city center is $1,600.00 per month, and rent outside the city center is $950.00. That’s probably the difference between living in Salem and living in Arcadia. So, we’ll split the difference and say that the average rent is $1,275.00 per month.Therefore, the total estimated cost of living for a four-person family in Winston–Salem, North Carolina is $4,258.12 per month. This translates into a $51,097.44 annual cost of living. So, in order to retire in Winston–Salem while renting an apartment and abiding by the safe withdrawal rate, you would need $1,277,436.

Cost of Housing in Winston–Salem, North Carolina

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Winston–Salem? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $175,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Winston–Salem, North Carolina, property taxes are 80.02 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $175,000 home, you won’t have to pay the $1,275.00 per month in rent, but you will have the following expenses:

  • Property taxes: $1,400.35 per year
  • Insurance: $735.00 per year
  • Home maintenance: $1,750.00 per year
  • Total: $3,885.35 per year, or $323.78 per month

Therefore, your cost of living in Winston–Salem, North Carolina, if you own a home will be $3,306.90 per month, or $39,682.80 per year. If you already own a house outright, then the amount you need to retire will be $992,070, and if you need to purchase the $175,000 home, then you will need $1,167,070. All of these retirement planning numbers are estimates. If you live in Salem versus Arcadia, your numbers will vary. If you eat at Meridian every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Winston–Salem.Need help saving for retirement? You can find a financial planner in Winston–Salem to get you started on that path.

Norfolk, Virginia

I actually spoke at the christening of the USS Minnesota – it was a really, very cool submarine in Norfolk.
–Amy Klobuchar

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Norfolk, Virginia?

Cost of Living in Norfolk, Virginia

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,053.91 per month. Rent in a 3-bedroom apartment in the city center is $.00 per month, and rent outside the city center is $.00. That’s probably the difference between living in Ghent and living in Norview. So, we’ll split the difference and say that the average rent is $.00 per month.Therefore, the total estimated cost of living for a four-person family in Norfolk, Virginia is $3,053.91 per month. This translates into a $36,646.92 annual cost of living. So, in order to retire in Norfolk while renting an apartment and abiding by the safe withdrawal rate, you would need $916,173.

Cost of Housing in Norfolk, Virginia

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Norfolk? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $210,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Norfolk, Virginia, property taxes are 71.32 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $210,000 home, you won’t have to pay the $.00 per month in rent, but you will have the following expenses:

  • Property taxes: $1,497.72 per year
  • Insurance: $882.00 per year
  • Home maintenance: $2,100.00 per year
  • Total: $4,479.72 per year, or $373.31 per month

Therefore, your cost of living in Norfolk, Virginia, if you own a home will be $3,427.22 per month, or $41,126.64 per year. If you already own a house outright, then the amount you need to retire will be $1,028,166, and if you need to purchase the $210,000 home, then you will need $1,238,166. All of these retirement planning numbers are estimates. If you live in Ghent versus Norview, your numbers will vary. If you eat at Chartreuse every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Norfolk.Need help saving for retirement? You can find a financial planner in Norfolk to get you started on that path.

Chesapeake, Virginia

Perhaps one of the more bizarre facts about Chesapeake is that it’s actually the burial place of dead animals from the Virginia Zoo in neighboring Norfolk. The burial ground is on the grounds of a tree farm within in the city, although the exact location is under wraps to prevent the theft of skulls and other precious animal parts like ivory. Source

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Chesapeake, Virginia?

Cost of Living in Chesapeake, Virginia

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,985.01 per month. Rent in a 3-bedroom apartment in the city center is $1,605.20 per month, and rent outside the city center is $1,594.00. That’s probably the difference between living in Butts Station and living in Fentress. So, we’ll split the difference and say that the average rent is $1,599.60 per month.Therefore, the total estimated cost of living for a four-person family in Chesapeake, Virginia is $4,584.61 per month. This translates into a $55,015.32 annual cost of living. So, in order to retire in Chesapeake while renting an apartment and abiding by the safe withdrawal rate, you would need $1,375,383.

Cost of Housing in Chesapeake, Virginia

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Chesapeake? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $320,950. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Chesapeake, Virginia, property taxes are 71.32 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $320,950 home, you won’t have to pay the $1,599.60 per month in rent, but you will have the following expenses:

  • Property taxes: $2,289.02 per year
  • Insurance: $1,347.99 per year
  • Home maintenance: $3,209.50 per year
  • Total: $6,846.51 per year, or $570.54 per month

Therefore, your cost of living in Chesapeake, Virginia, if you own a home will be $3,555.55 per month, or $42,666.60 per year. If you already own a house outright, then the amount you need to retire will be $1,066,665, and if you need to purchase the $320,950 home, then you will need $1,387,615. All of these retirement planning numbers are estimates. If you live in Butts Station versus Fentress, your numbers will vary. If you eat at Amber Lantern every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Chesapeake.Need help saving for retirement? You can find a financial planner in Chesapeake to get you started on that path.

Garland, Texas

Former resident Mike Judge used elements of Garland and other area cities as an inspiration for Arlen, Texas, the setting for the animated TV series King of the Hill. Source

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Garland, Texas?

Cost of Living in Garland, Texas

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,504.67 per month. Rent in a 3-bedroom apartment in the city center is $1,633.33 per month, and rent outside the city center is $1,283.33. That’s probably the difference between living in Towngate and living in La Prada. So, we’ll split the difference and say that the average rent is $1,458.33 per month.Therefore, the total estimated cost of living for a four-person family in Garland, Texas is $3,963.00 per month. This translates into a $47,556.00 annual cost of living. So, in order to retire in Garland while renting an apartment and abiding by the safe withdrawal rate, you would need $1,188,900.

Cost of Housing in Garland, Texas

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Garland? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $219,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Garland, Texas, property taxes are 138.12 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $219,900 home, you won’t have to pay the $1,458.33 per month in rent, but you will have the following expenses:

  • Property taxes: $3,037.26 per year
  • Insurance: $923.58 per year
  • Home maintenance: $2,199.00 per year
  • Total: $6,159.84 per year, or $513.32 per month

Therefore, your cost of living in Garland, Texas, if you own a home will be $3,017.99 per month, or $36,215.88 per year. If you already own a house outright, then the amount you need to retire will be $905,397, and if you need to purchase the $219,900 home, then you will need $1,125,297. All of these retirement planning numbers are estimates. If you live in Towngate versus La Prada, your numbers will vary. If you eat at Siciliano’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Garland.Need help saving for retirement? You can find a financial planner in Garland to get you started on that path.

Irving, Texas

My first cat was named Cowboy, after the Dallas Cowboys.
–Jenna Bush

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Irving, Texas?

Cost of Living in Irving, Texas

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,588.18 per month. Rent in a 3-bedroom apartment in the city center is $2,126.80 per month, and rent outside the city center is $1,759.04. That’s probably the difference between living in Irving Heights and living in Townlake. So, we’ll split the difference and say that the average rent is $1,942.92 per month.Therefore, the total estimated cost of living for a four-person family in Irving, Texas is $4,531.10 per month. This translates into a $54,373.20 annual cost of living. So, in order to retire in Irving while renting an apartment and abiding by the safe withdrawal rate, you would need $1,359,330.

Cost of Housing in Irving, Texas

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Irving? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $359,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Irving, Texas, property taxes are 203.91 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $359,900 home, you won’t have to pay the $1,942.92 per month in rent, but you will have the following expenses:

  • Property taxes: $7,338.72 per year
  • Insurance: $1,511.58 per year
  • Home maintenance: $3,599.00 per year
  • Total: $12,449.30 per year, or $1,037.44 per month

Therefore, your cost of living in Irving, Texas, if you own a home will be $3,625.62 per month, or $43,507.44 per year. If you already own a house outright, then the amount you need to retire will be $1,087,686, and if you need to purchase the $359,900 home, then you will need $1,447,586. All of these retirement planning numbers are estimates. If you live in Irving Heights versus Townlake, your numbers will vary. If you eat at Cool River Cafe every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Irving.Need help saving for retirement? You can find a financial planner in Irving to get you started on that path.

Fremont, California

Everybody knows what California smog is – that’s fog with the vitamins removed.–Bob Hope

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Fremont, California?

Cost of Living in Fremont, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,515.88 per month. Rent in a 3-bedroom apartment in the city center is $3,600.00 per month, and rent outside the city center is $3,094.00. That’s probably the difference between living in Niles and living in Irvington. So, we’ll split the difference and say that the average rent is $3,347.00 per month.Therefore, the total estimated cost of living for a four-person family in Fremont, California is $6,862.88 per month. This translates into a $82,354.56 annual cost of living. So, in order to retire in Fremont while renting an apartment and abiding by the safe withdrawal rate, you would need $2,058,864.

Cost of Housing in Fremont, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Fremont? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $1,010,939. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Fremont, California, property taxes are 89.8 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $1,010,939 home, you won’t have to pay the $3,347.00 per month in rent, but you will have the following expenses:

  • Property taxes: $9,078.23 per year
  • Insurance: $4,245.94 per year
  • Home maintenance: $10,109.39 per year
  • Total: $23,433.56 per year, or $1,952.80 per month

Therefore, your cost of living in Fremont, California, if you own a home will be $5,468.68 per month, or $65,624.16 per year. If you already own a house outright, then the amount you need to retire will be $1,640,604, and if you need to purchase the $1,010,939 home, then you will need $2,651,543. All of these retirement planning numbers are estimates. If you live in Niles versus Irvington, your numbers will vary. If you eat at Massimo’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Fremont.Need help saving for retirement? You can find a financial planner in Fremont to get you started on that path.

Boise, Idaho

Skip The “Z” In Boise
–Spencer McKee (Source)

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Boise, Idaho?

Cost of Living in Boise, Idaho

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,560.62 per month. Rent in a 3-bedroom apartment in the city center is $1,575.29 per month, and rent outside the city center is $1,272.35. That’s probably the difference between living in Warm Springs Mesa and living in Central Bench. So, we’ll split the difference and say that the average rent is $1,423.82 per month.Therefore, the total estimated cost of living for a four-person family in Boise, Idaho is $3,984.44 per month. This translates into a $47,813.28 annual cost of living. So, in order to retire in Boise while renting an apartment and abiding by the safe withdrawal rate, you would need $1,195,332.

Cost of Housing in Boise, Idaho

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Boise? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $330,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Boise, Idaho, property taxes are 67.86 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $330,000 home, you won’t have to pay the $1,423.82 per month in rent, but you will have the following expenses:

  • Property taxes: $2,239.38 per year
  • Insurance: $1,386.00 per year
  • Home maintenance: $3,300.00 per year
  • Total: $6,925.38 per year, or $577.12 per month

Therefore, your cost of living in Boise, Idaho, if you own a home will be $3,137.74 per month, or $37,652.88 per year. If you already own a house outright, then the amount you need to retire will be $941,322, and if you need to purchase the $330,000 home, then you will need $1,271,322. All of these retirement planning numbers are estimates. If you live in Warm Springs Mesa versus Central Bench, your numbers will vary. If you eat at Barbacoa every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Boise.Need help saving for retirement? You can find a financial planner in Boise to get you started on that path.

Richmond, Virginia

And later, if I ever felt that I was getting swept away by the craziness of being in a band, well, I’d go back to Virginia.
–Dave Grohl

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Richmond, Virginia?

Cost of Living in Richmond, Virginia

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,938.63 per month. Rent in a 3-bedroom apartment in the city center is $1,757.14 per month, and rent outside the city center is $1,325.00. That’s probably the difference between living in the Fan and living in West End. So, we’ll split the difference and say that the average rent is $1,541.07 per month.Therefore, the total estimated cost of living for a four-person family in Richmond, Virginia is $4,479.70 per month. This translates into a $53,756.40 annual cost of living. So, in order to retire in Richmond while renting an apartment and abiding by the safe withdrawal rate, you would need $1,343,910.

Cost of Housing in Richmond, Virginia

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Richmond? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $239,450. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Richmond, Virginia, property taxes are 71.32 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $239,450 home, you won’t have to pay the $1,541.07 per month in rent, but you will have the following expenses:

  • Property taxes: $1,707.76 per year
  • Insurance: $1,005.69 per year
  • Home maintenance: $2,394.50 per year
  • Total: $5,107.95 per year, or $425.66 per month

Therefore, your cost of living in Richmond, Virginia, if you own a home will be $3,364.29 per month, or $40,371.48 per year. If you already own a house outright, then the amount you need to retire will be $1,009,287, and if you need to purchase the $239,450 home, then you will need $1,248,737. All of these retirement planning numbers are estimates. If you live in the Fan versus West End, your numbers will vary. If you eat at TJ’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Richmond.Need help saving for retirement? You can find a financial planner in Richmond to get you started on that path.

Baton Rouge, Louisiana

“A Cajun will always share a recipe with you, but they’ll always leave out one ingredient.”
–Tourist from Baton Rouge (Source)

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Baton Rouge, Louisiana?

Cost of Living in Baton Rouge, Louisiana

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,155.98 per month. Rent in a 3-bedroom apartment in the city center is $1,658.57 per month, and rent outside the city center is $1,331.25. That’s probably the difference between living in Ashley and living in Woodaire. So, we’ll split the difference and say that the average rent is $1,494.91 per month.Therefore, the total estimated cost of living for a four-person family in Baton Rouge, Louisiana is $4,650.89 per month. This translates into a $55,810.68 annual cost of living. So, in order to retire in Baton Rouge while renting an apartment and abiding by the safe withdrawal rate, you would need $1,395,267.

Cost of Housing in Baton Rouge, Louisiana

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Baton Rouge? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $224,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Baton Rouge, Louisiana, property taxes are 40.28 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $224,900 home, you won’t have to pay the $1,494.91 per month in rent, but you will have the following expenses:

  • Property taxes: $905.90 per year
  • Insurance: $944.58 per year
  • Home maintenance: $2,249.00 per year
  • Total: $4,099.48 per year, or $341.62 per month

Therefore, your cost of living in Baton Rouge, Louisiana, if you own a home will be $3,497.60 per month, or $41,971.20 per year. If you already own a house outright, then the amount you need to retire will be $1,049,280, and if you need to purchase the $224,900 home, then you will need $1,274,180. All of these retirement planning numbers are estimates. If you live in Ashley versus Woodaire, your numbers will vary. If you eat at Juban’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Baton Rouge.Need help saving for retirement? You can find a financial planner in Baton Rouge to get you started on that path.

Spokane, Washington

Napa Valley has nothing on Spokane.
–Spencer McKee (Source)

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Spokane, Washington?

Cost of Living in Spokane, Washington

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,901.44 per month. Rent in a 3-bedroom apartment in the city center is $1,475.00 per month, and rent outside the city center is $1,161.43. That’s probably the difference between living in Rockwood and living in Latah Valley. So, we’ll split the difference and say that the average rent is $1,318.22 per month.Therefore, the total estimated cost of living for a four-person family in Spokane, Washington is $4,219.66 per month. This translates into a $50,635.86 annual cost of living. So, in order to retire in Spokane while renting an apartment and abiding by the safe withdrawal rate, you would need $1,265,897.

Cost of Housing in Spokane, Washington

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Spokane? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $235,500. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Spokane, Washington, property taxes are 97.08 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $235,500 home, you won’t have to pay the $1,318.22 per month in rent, but you will have the following expenses:

  • Property taxes: $2,286.23 per year
  • Insurance: $989.10 per year
  • Home maintenance: $2,355.00 per year
  • Total: $5,630.33 per year, or $469.19 per month

Therefore, your cost of living in Spokane, Washington, if you own a home will be $3,370.63 per month, or $40,447.56 per year. If you already own a house outright, then the amount you need to retire will be $1,011,189, and if you need to purchase the $235,500 home, then you will need $1,246,689. All of these retirement planning numbers are estimates. If you live in Rockwood versus Latah Valley, your numbers will vary. If you eat at Mizuna every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Spokane.Need help saving for retirement? You can find a financial planner in Spokane to get you started on that path.

Des Moines, Iowa

Hollywood is a place where people from Iowa mistake each other for stars.–Fred Allen

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Des Moines, Iowa?

Cost of Living in Des Moines, Iowa

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,769.70 per month. Rent in a 3-bedroom apartment in the city center is $1,590.00 per month, and rent outside the city center is $1,190.00. That’s probably the difference between living in Sherman Hill and living in Beaverdale. So, we’ll split the difference and say that the average rent is $1,390.00 per month.Therefore, the total estimated cost of living for a four-person family in Des Moines, Iowa is $4,159.70 per month. This translates into a $49,916.40 annual cost of living. So, in order to retire in Des Moines while renting an apartment and abiding by the safe withdrawal rate, you would need $1,247,910.

Cost of Housing in Des Moines, Iowa

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Des Moines? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $139,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Des Moines, Iowa, property taxes are 139.96 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $139,900 home, you won’t have to pay the $1,390.00 per month in rent, but you will have the following expenses:

  • Property taxes: $1,958.04 per year
  • Insurance: $587.58 per year
  • Home maintenance: $1,399.00 per year
  • Total: $3,944.62 per year, or $328.72 per month

Therefore, your cost of living in Des Moines, Iowa, if you own a home will be $3,098.42 per month, or $37,181.04 per year. If you already own a house outright, then the amount you need to retire will be $929,526, and if you need to purchase the $139,900 home, then you will need $1,069,426. All of these retirement planning numbers are estimates. If you live in Sherman Hill versus Beaverdale, your numbers will vary. If you eat at Django every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Des Moines.Need help saving for retirement? You can find a financial planner in Des Moines to get you started on that path.

Tacoma, Washington

Believe in yourself, even when no one else will.
–Sasquatch (quoted by Mike Leach)

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Tacoma, Washington?

Cost of Living in Tacoma, Washington

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,255.33 per month. Rent in a 3-bedroom apartment in the city center is $2,124.31 per month, and rent outside the city center is $1,648.14. That’s probably the difference between living in Browns Point and living in South End. So, we’ll split the difference and say that the average rent is $1,886.23 per month.Therefore, the total estimated cost of living for a four-person family in Tacoma, Washington is $5,141.56 per month. This translates into a $61,698.66 annual cost of living. So, in order to retire in Tacoma while renting an apartment and abiding by the safe withdrawal rate, you would need $1,542,467.

Cost of Housing in Tacoma, Washington

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Tacoma? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $299,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Tacoma, Washington, property taxes are 97.08 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $299,900 home, you won’t have to pay the $1,886.23 per month in rent, but you will have the following expenses:

  • Property taxes: $2,911.43 per year
  • Insurance: $1,259.58 per year
  • Home maintenance: $2,999.00 per year
  • Total: $7,170.01 per year, or $597.50 per month

Therefore, your cost of living in Tacoma, Washington, if you own a home will be $3,852.83 per month, or $46,233.96 per year. If you already own a house outright, then the amount you need to retire will be $1,155,849, and if you need to purchase the $299,900 home, then you will need $1,455,749. All of these retirement planning numbers are estimates. If you live in Browns Point versus South End, your numbers will vary. If you eat at El Gaucho every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Tacoma.Need help saving for retirement? You can find a financial planner in Tacoma to get you started on that path.

San Bernardino, California

“Lovin’ San Bernardino the Great! Why Wait? Don’t hate, Negotiate.”
–Denise Leausa (Source)

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in San Bernardino, California?

Cost of Living in San Bernardino, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,984.71 per month. Rent in a 3-bedroom apartment in the city center is $1,550.00 per month, and rent outside the city center is $1,650.00. That’s probably the difference between living in Devore and living in Arrowview. So, we’ll split the difference and say that the average rent is $1,600.00 per month.Therefore, the total estimated cost of living for a four-person family in San Bernardino, California is $4,584.71 per month. This translates into a $55,016.52 annual cost of living. So, in order to retire in San Bernardino while renting an apartment and abiding by the safe withdrawal rate, you would need $1,375,413.

Cost of Housing in San Bernardino, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in San Bernardino? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $295,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In San Bernardino, California, property taxes are 79.86 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $295,000 home, you won’t have to pay the $1,600.00 per month in rent, but you will have the following expenses:

  • Property taxes: $2,355.87 per year
  • Insurance: $1,239.00 per year
  • Home maintenance: $2,950.00 per year
  • Total: $6,544.87 per year, or $545.41 per month

Therefore, your cost of living in San Bernardino, California, if you own a home will be $3,530.12 per month, or $42,361.44 per year. If you already own a house outright, then the amount you need to retire will be $1,059,036, and if you need to purchase the $295,000 home, then you will need $1,354,036. All of these retirement planning numbers are estimates. If you live in Devore versus Arrowview, your numbers will vary. If you eat at Hilltop every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in San Bernardino.Need help saving for retirement? You can find a financial planner in San Bernardino to get you started on that path.

Modesto, California

In the middle of California lies Modesto, the land of wine, nuts, and hot rods.
–Spencer McKee (Source)

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Modesto, California?

Cost of Living in Modesto, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,994.24 per month. Rent in a 3-bedroom apartment in the city center is $1,633.33 per month, and rent outside the city center is $1,246.50. That’s probably the difference between living in Del Rio and living in Ceres. So, we’ll split the difference and say that the average rent is $1,439.92 per month.Therefore, the total estimated cost of living for a four-person family in Modesto, California is $4,434.16 per month. This translates into a $53,209.86 annual cost of living. So, in order to retire in Modesto while renting an apartment and abiding by the safe withdrawal rate, you would need $1,330,247.

Cost of Housing in Modesto, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Modesto? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $299,850. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Modesto, California, property taxes are 79.86 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $299,850 home, you won’t have to pay the $1,439.92 per month in rent, but you will have the following expenses:

  • Property taxes: $2,394.60 per year
  • Insurance: $1,259.37 per year
  • Home maintenance: $2,998.50 per year
  • Total: $6,652.47 per year, or $554.37 per month

Therefore, your cost of living in Modesto, California, if you own a home will be $3,548.61 per month, or $42,583.32 per year. If you already own a house outright, then the amount you need to retire will be $1,064,583, and if you need to purchase the $299,850 home, then you will need $1,364,433. All of these retirement planning numbers are estimates. If you live in Del Rio versus Ceres, your numbers will vary. If you eat at Surla’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Modesto.Need help saving for retirement? You can find a financial planner in Modesto to get you started on that path.

Fontana, California

In the photographs themselves there’s a definite contrast between the figures and the location – I like that kind of California backyard look; clapboard houses, staircases outdoors.–Helmut Newton

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Fontana, California?

Cost of Living in Fontana, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,899.23 per month. Rent in a 3-bedroom apartment in the city center is $1,625.00 per month, and rent outside the city center is $1,595.00. That’s probably the difference between living in Declez and living in West End. So, we’ll split the difference and say that the average rent is $1,610.00 per month.Therefore, the total estimated cost of living for a four-person family in Fontana, California is $4,509.23 per month. This translates into a $54,110.76 annual cost of living. So, in order to retire in Fontana while renting an apartment and abiding by the safe withdrawal rate, you would need $1,352,769.

Cost of Housing in Fontana, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Fontana? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $425,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Fontana, California, property taxes are 79.86 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $425,000 home, you won’t have to pay the $1,610.00 per month in rent, but you will have the following expenses:

  • Property taxes: $3,394.05 per year
  • Insurance: $1,785.00 per year
  • Home maintenance: $4,250.00 per year
  • Total: $9,429.05 per year, or $785.75 per month

Therefore, your cost of living in Fontana, California, if you own a home will be $3,684.98 per month, or $44,219.76 per year. If you already own a house outright, then the amount you need to retire will be $1,105,494, and if you need to purchase the $425,000 home, then you will need $1,530,494. All of these retirement planning numbers are estimates. If you live in Declez versus West End, your numbers will vary. If you eat at Sundowners every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Fontana.Need help saving for retirement? You can find a financial planner in Fontana to get you started on that path.

Santa Clarita, California

“We’re hand models and we have to protect our assets from sun damage.”
Santa Clarita Diet

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Santa Clarita, California?

Cost of Living in Santa Clarita, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,031.21 per month. Rent in a 3-bedroom apartment in the city center is $2,709.00 per month, and rent outside the city center is $2,561.25. That’s probably the difference between living in Newhall and living in Saugus. So, we’ll split the difference and say that the average rent is $2,635.13 per month.Therefore, the total estimated cost of living for a four-person family in Santa Clarita, California is $5,666.34 per month. This translates into a $67,996.02 annual cost of living. So, in order to retire in Santa Clarita while renting an apartment and abiding by the safe withdrawal rate, you would need $1,699,901.

Cost of Housing in Santa Clarita, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Santa Clarita? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $570,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Santa Clarita, California, property taxes are 79.86 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $570,000 home, you won’t have to pay the $2,635.13 per month in rent, but you will have the following expenses:

  • Property taxes: $4,552.02 per year
  • Insurance: $2,394.00 per year
  • Home maintenance: $5,700.00 per year
  • Total: $12,646.02 per year, or $1,053.84 per month

Therefore, your cost of living in Santa Clarita, California, if you own a home will be $4,085.05 per month, or $49,020.60 per year. If you already own a house outright, then the amount you need to retire will be $1,225,515, and if you need to purchase the $570,000 home, then you will need $1,795,515. All of these retirement planning numbers are estimates. If you live in Newhall versus Saugus, your numbers will vary. If you eat at Medrano’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Santa Clarita.Need help saving for retirement? You can find a financial planner in Santa Clarita to get you started on that path.

Birmingham, Alabama

You can’t say Alabamans as a people are unduly afraid of deep fryers.
–John Green

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Birmingham, Alabama?

Cost of Living in Birmingham, Alabama

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,789.68 per month. Rent in a 3-bedroom apartment in the city center is $1,790.91 per month, and rent outside the city center is $1,310.00. That’s probably the difference between living in Avondale and living in Ensley. So, we’ll split the difference and say that the average rent is $1,550.46 per month.Therefore, the total estimated cost of living for a four-person family in Birmingham, Alabama is $4,340.14 per month. This translates into a $52,081.62 annual cost of living. So, in order to retire in Birmingham while renting an apartment and abiding by the safe withdrawal rate, you would need $1,302,041.

Cost of Housing in Birmingham, Alabama

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Birmingham? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $66,450. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Birmingham, Alabama, property taxes are 37.42 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $66,450 home, you won’t have to pay the $1,550.46 per month in rent, but you will have the following expenses:

  • Property taxes: $248.66 per year
  • Insurance: $279.09 per year
  • Home maintenance: $664.50 per year
  • Total: $1,192.25 per year, or $99.35 per month

Therefore, your cost of living in Birmingham, Alabama, if you own a home will be $2,889.03 per month, or $34,668.36 per year. If you already own a house outright, then the amount you need to retire will be $866,709, and if you need to purchase the $66,450 home, then you will need $933,159. All of these retirement planning numbers are estimates. If you live in Avondale versus Ensley, your numbers will vary. If you eat at Galley & Garden every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Birmingham.Need help saving for retirement? You can find a financial planner in Birmingham to get you started on that path.

Oxnard, California

Helsinki may not be as cold as you make it out to be, but California is still a lot nicer. I don’t remember the last time I couldn’t walk around in shorts all day.–Linus Torvalds

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Oxnard, California?

Cost of Living in Oxnard, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,909.17 per month. Rent in a 3-bedroom apartment in the city center is $2,250.00 per month, and rent outside the city center is $2,250.00. That’s probably the difference between living in Oxnard Dunes and living in Wilson. So, we’ll split the difference and say that the average rent is $2,250.00 per month.Therefore, the total estimated cost of living for a four-person family in Oxnard, California is $5,159.17 per month. This translates into a $61,910.04 annual cost of living. So, in order to retire in Oxnard while renting an apartment and abiding by the safe withdrawal rate, you would need $1,547,751.

Cost of Housing in Oxnard, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Oxnard? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $525,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Oxnard, California, property taxes are 79.86 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $525,000 home, you won’t have to pay the $2,250.00 per month in rent, but you will have the following expenses:

  • Property taxes: $4,192.65 per year
  • Insurance: $2,205.00 per year
  • Home maintenance: $5,250.00 per year
  • Total: $11,647.65 per year, or $970.64 per month

Therefore, your cost of living in Oxnard, California, if you own a home will be $3,879.81 per month, or $46,557.72 per year. If you already own a house outright, then the amount you need to retire will be $1,163,943, and if you need to purchase the $525,000 home, then you will need $1,688,943. All of these retirement planning numbers are estimates. If you live in Oxnard Dunes versus Wilson, your numbers will vary. If you eat at Water’s Edge every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Oxnard.Need help saving for retirement? You can find a financial planner in Oxnard to get you started on that path.

Fayetteville, North Carolina

I had seen the films out of World War II, the great 82nd Airborne, the 101st, and all of those of you in the greatest generation and the service that you had provided.–Hugh Shelton

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Fayetteville, North Carolina?

Cost of Living in Fayetteville, North Carolina

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,668.11 per month. Rent in a 3-bedroom apartment in the city center is $1,287.50 per month, and rent outside the city center is $1,041.67. That’s probably the difference between living in Clairway and living in Owens. So, we’ll split the difference and say that the average rent is $1,164.59 per month.Therefore, the total estimated cost of living for a four-person family in Fayetteville, North Carolina is $3,832.70 per month. This translates into a $45,992.34 annual cost of living. So, in order to retire in Fayetteville while renting an apartment and abiding by the safe withdrawal rate, you would need $1,149,809.

Cost of Housing in Fayetteville, North Carolina

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Fayetteville? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $145,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Fayetteville, North Carolina, property taxes are 80.02 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $145,000 home, you won’t have to pay the $1,164.59 per month in rent, but you will have the following expenses:

  • Property taxes: $1,160.29 per year
  • Insurance: $609.00 per year
  • Home maintenance: $1,450.00 per year
  • Total: $3,219.29 per year, or $268.27 per month

Therefore, your cost of living in Fayetteville, North Carolina, if you own a home will be $2,936.38 per month, or $35,236.56 per year. If you already own a house outright, then the amount you need to retire will be $880,914, and if you need to purchase the $145,000 home, then you will need $1,025,914. All of these retirement planning numbers are estimates. If you live in Clairway versus Owens, your numbers will vary. If you eat at Hilltop House every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Fayetteville.Need help saving for retirement? You can find a financial planner in Fayetteville to get you started on that path.

Rochester, New York

Rochester – What it means everywhere else: A city that’s somewhere on the East Coast with a name that loosely resembles “Rooster.”
–Spencer McKee (Source)

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Rochester, New York?

Cost of Living in Rochester, New York

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,282.45 per month. Rent in a 3-bedroom apartment in the city center is $1,486.36 per month, and rent outside the city center is $1,364.29. That’s probably the difference between living in Corn Hill and living in Swillburg. So, we’ll split the difference and say that the average rent is $1,425.33 per month.Therefore, the total estimated cost of living for a four-person family in Rochester, New York is $4,707.78 per month. This translates into a $56,493.30 annual cost of living. So, in order to retire in Rochester while renting an apartment and abiding by the safe withdrawal rate, you would need $1,412,333.

Cost of Housing in Rochester, New York

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Rochester? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $74,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Rochester, New York, property taxes are 230.5 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $74,900 home, you won’t have to pay the $1,425.33 per month in rent, but you will have the following expenses:

  • Property taxes: $1,726.45 per year
  • Insurance: $314.58 per year
  • Home maintenance: $749.00 per year
  • Total: $2,790.03 per year, or $232.50 per month

Therefore, your cost of living in Rochester, New York, if you own a home will be $3,514.95 per month, or $42,179.40 per year. If you already own a house outright, then the amount you need to retire will be $1,054,485, and if you need to purchase the $74,900 home, then you will need $1,129,385. All of these retirement planning numbers are estimates. If you live in Corn Hill versus Swillburg, your numbers will vary. If you eat at Rooney’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Rochester.Need help saving for retirement? You can find a financial planner in Rochester to get you started on that path.

Glendale, California

Things are tough all over, cupcake, an’ it rains on the just an’ the unjust alike…except in California.–Alan Moore

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Glendale, California?

Cost of Living in Glendale, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,195.58 per month. Rent in a 3-bedroom apartment in the city center is $3,433.33 per month, and rent outside the city center is $2,707.14. That’s probably the difference between living in Rossmoyne and living in Whiting Woods. So, we’ll split the difference and say that the average rent is $3,070.24 per month.Therefore, the total estimated cost of living for a four-person family in Glendale, California is $6,265.82 per month. This translates into a $75,189.78 annual cost of living. So, in order to retire in Glendale while renting an apartment and abiding by the safe withdrawal rate, you would need $1,879,745.

Cost of Housing in Glendale, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Glendale? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $869,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Glendale, California, property taxes are 79.86 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $869,000 home, you won’t have to pay the $3,070.24 per month in rent, but you will have the following expenses:

  • Property taxes: $6,939.83 per year
  • Insurance: $3,649.80 per year
  • Home maintenance: $8,690.00 per year
  • Total: $19,279.63 per year, or $1,606.64 per month

Therefore, your cost of living in Glendale, California, if you own a home will be $4,802.22 per month, or $57,626.64 per year. If you already own a house outright, then the amount you need to retire will be $1,440,666, and if you need to purchase the $869,000 home, then you will need $2,309,666. All of these retirement planning numbers are estimates. If you live in Rossmoyne versus Whiting Woods, your numbers will vary. If you eat at Katsuya every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Glendale.Need help saving for retirement? You can find a financial planner in Glendale to get you started on that path.

Huntington Beach, California

“There’s good reason why Huntington Beach reigns as the official Surf City USA.”
–Every surfer there

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Huntington Beach, California?

Cost of Living in Huntington Beach, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,167.29 per month. Rent in a 3-bedroom apartment in the city center is $3,600.00 per month, and rent outside the city center is $2,650.00. That’s probably the difference between living in Wintersburg and living in Goldenwest. So, we’ll split the difference and say that the average rent is $3,125.00 per month.Therefore, the total estimated cost of living for a four-person family in Huntington Beach, California is $6,292.29 per month. This translates into a $75,507.48 annual cost of living. So, in order to retire in Huntington Beach while renting an apartment and abiding by the safe withdrawal rate, you would need $1,887,687.

Cost of Housing in Huntington Beach, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Huntington Beach? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $875,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Huntington Beach, California, property taxes are 75.83 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $875,000 home, you won’t have to pay the $3,125.00 per month in rent, but you will have the following expenses:

  • Property taxes: $6,635.13 per year
  • Insurance: $3,675.00 per year
  • Home maintenance: $8,750.00 per year
  • Total: $19,060.13 per year, or $1,588.34 per month

Therefore, your cost of living in Huntington Beach, California, if you own a home will be $4,755.63 per month, or $57,067.56 per year. If you already own a house outright, then the amount you need to retire will be $1,426,689, and if you need to purchase the $875,000 home, then you will need $2,301,689. All of these retirement planning numbers are estimates. If you live in Wintersburg versus Goldenwest, your numbers will vary. If you eat at Watertable every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Huntington Beach.Need help saving for retirement? You can find a financial planner in Huntington Beach to get you started on that path.

Salt Lake City, Utah

In Utah, there are no bad things in the water there. It’s just smooth, really beautiful.
–Steve Guttenberg

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Salt Lake City, Utah?

Cost of Living in Salt Lake City, Utah

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,827.06 per month. Rent in a 3-bedroom apartment in the city center is $1,870.00 per month, and rent outside the city center is $1,445.65. That’s probably the difference between living in Yalecrest and living in Wasatch Hollow. So, we’ll split the difference and say that the average rent is $1,657.83 per month.Therefore, the total estimated cost of living for a four-person family in Salt Lake City, Utah is $4,484.89 per month. This translates into a $53,818.62 annual cost of living. So, in order to retire in Salt Lake City while renting an apartment and abiding by the safe withdrawal rate, you would need $1,345,466.

Cost of Housing in Salt Lake City, Utah

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Salt Lake City? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $424,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Salt Lake City, Utah, property taxes are 60.76 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $424,900 home, you won’t have to pay the $1,657.83 per month in rent, but you will have the following expenses:

  • Property taxes: $2,581.69 per year
  • Insurance: $1,784.58 per year
  • Home maintenance: $4,249.00 per year
  • Total: $8,615.27 per year, or $717.94 per month

Therefore, your cost of living in Salt Lake City, Utah, if you own a home will be $3,545.00 per month, or $42,540.00 per year. If you already own a house outright, then the amount you need to retire will be $1,063,500, and if you need to purchase the $424,900 home, then you will need $1,488,400. All of these retirement planning numbers are estimates. If you live in Yalecrest versus Wasatch Hollow, your numbers will vary. If you eat at Bambara every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Salt Lake City.Need help saving for retirement? You can find a financial planner in Salt Lake City to get you started on that path.

Grand Rapids, Michigan

If I had to describe the scent of Michigan in spring and summer, it wouldn’t be a particular smell – blooming wildflowers or boat exhaust off the lake – it would be a color: Green.
–Viola Shipman

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Grand Rapids, Michigan?

Cost of Living in Grand Rapids, Michigan

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,784.13 per month. Rent in a 3-bedroom apartment in the city center is $1,960.00 per month, and rent outside the city center is $1,312.50. That’s probably the difference between living in Heartside and living in Alger Heights. So, we’ll split the difference and say that the average rent is $1,636.25 per month.Therefore, the total estimated cost of living for a four-person family in Grand Rapids, Michigan is $4,420.38 per month. This translates into a $53,044.56 annual cost of living. So, in order to retire in Grand Rapids while renting an apartment and abiding by the safe withdrawal rate, you would need $1,326,114.

Cost of Housing in Grand Rapids, Michigan

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Grand Rapids? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $169,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Grand Rapids, Michigan, property taxes are 142.41 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $169,000 home, you won’t have to pay the $1,636.25 per month in rent, but you will have the following expenses:

  • Property taxes: $2,406.73 per year
  • Insurance: $709.80 per year
  • Home maintenance: $1,690.00 per year
  • Total: $4,806.53 per year, or $400.54 per month

Therefore, your cost of living in Grand Rapids, Michigan, if you own a home will be $3,184.67 per month, or $38,216.04 per year. If you already own a house outright, then the amount you need to retire will be $955,401, and if you need to purchase the $169,000 home, then you will need $1,124,401. All of these retirement planning numbers are estimates. If you live in Heartside versus Alger Heights, your numbers will vary. If you eat at Ruth’s Chris every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Grand Rapids.Need help saving for retirement? You can find a financial planner in Grand Rapids to get you started on that path.

Amarillo, Texas

I’m from the “RILLO”
–Every local

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Amarillo, Texas?

Cost of Living in Amarillo, Texas

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,254.99 per month. Rent in a 3-bedroom apartment in the city center is $600.00 per month, and rent outside the city center is $600.00. That’s probably the difference between living in Bishop Hills and living in Belmar. So, we’ll split the difference and say that the average rent is $600.00 per month.Therefore, the total estimated cost of living for a four-person family in Amarillo, Texas is $2,854.99 per month. This translates into a $34,259.88 annual cost of living. So, in order to retire in Amarillo while renting an apartment and abiding by the safe withdrawal rate, you would need $856,497.

Cost of Housing in Amarillo, Texas

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Amarillo? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $192,510. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Amarillo, Texas, property taxes are 138.12 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $192,510 home, you won’t have to pay the $600.00 per month in rent, but you will have the following expenses:

  • Property taxes: $2,658.95 per year
  • Insurance: $808.54 per year
  • Home maintenance: $1,925.10 per year
  • Total: $5,392.59 per year, or $449.38 per month

Therefore, your cost of living in Amarillo, Texas, if you own a home will be $2,704.37 per month, or $32,452.44 per year. If you already own a house outright, then the amount you need to retire will be $811,311, and if you need to purchase the $192,510 home, then you will need $1,003,821. All of these retirement planning numbers are estimates. If you live in Bishop Hills versus Belmar, your numbers will vary. If you eat at Public House every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Amarillo.Need help saving for retirement? You can find a financial planner in Amarillo to get you started on that path.

Yonkers, New York

Chances are, if you don’t work for the Yonkers Police Department or Yonkers public school system, you’ve got a friend or family member who does (and probably both).
–Maria Scinto (Source)

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Yonkers, New York?

Cost of Living in Yonkers, New York

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,642.84 per month. Rent in a 3-bedroom apartment in the city center is $2,633.33 per month, and rent outside the city center is $2,466.67. That’s probably the difference between living in Getty Square and living in Nodine Hill. So, we’ll split the difference and say that the average rent is $2,550.00 per month.Therefore, the total estimated cost of living for a four-person family in Yonkers, New York is $6,192.84 per month. This translates into a $74,314.08 annual cost of living. So, in order to retire in Yonkers while renting an apartment and abiding by the safe withdrawal rate, you would need $1,857,852.

Cost of Housing in Yonkers, New York

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Yonkers? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $506,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Yonkers, New York, property taxes are 230.5 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $506,900 home, you won’t have to pay the $2,550.00 per month in rent, but you will have the following expenses:

  • Property taxes: $11,684.05 per year
  • Insurance: $2,128.98 per year
  • Home maintenance: $5,069.00 per year
  • Total: $18,882.03 per year, or $1,573.50 per month

Therefore, your cost of living in Yonkers, New York, if you own a home will be $5,216.34 per month, or $62,596.08 per year. If you already own a house outright, then the amount you need to retire will be $1,564,902, and if you need to purchase the $506,900 home, then you will need $2,071,802. All of these retirement planning numbers are estimates. If you live in Getty Square versus Nodine Hill, your numbers will vary. If you eat at Zuppa every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Yonkers.Need help saving for retirement? You can find a financial planner in Yonkers to get you started on that path.

Aurora, Illinois

In 2007, the Illinois General Assembly declared April 1st “Cheap Trick Day” to honor the band. (Source)

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Aurora, Illinois?

Cost of Living in Aurora, Illinois

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,565.41 per month. Rent in a 3-bedroom apartment in the city center is $2,050.00 per month, and rent outside the city center is $1,583.33. That’s probably the difference between living in Fox Valley and living in Deerbrook. So, we’ll split the difference and say that the average rent is $1,816.67 per month.Therefore, the total estimated cost of living for a four-person family in Aurora, Illinois is $5,382.08 per month. This translates into a $64,584.90 annual cost of living. So, in order to retire in Aurora while renting an apartment and abiding by the safe withdrawal rate, you would need $1,614,623.

Cost of Housing in Aurora, Illinois

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Aurora? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $209,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Aurora, Illinois, property taxes are 189.1 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $209,000 home, you won’t have to pay the $1,816.67 per month in rent, but you will have the following expenses:

  • Property taxes: $3,952.19 per year
  • Insurance: $877.80 per year
  • Home maintenance: $2,090.00 per year
  • Total: $6,919.99 per year, or $576.67 per month

Therefore, your cost of living in Aurora, Illinois, if you own a home will be $4,142.08 per month, or $49,704.96 per year. If you already own a house outright, then the amount you need to retire will be $1,242,624, and if you need to purchase the $209,000 home, then you will need $1,451,624. All of these retirement planning numbers are estimates. If you live in Fox Valley versus Deerbrook, your numbers will vary. If you eat at the Turf Room every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Aurora.Need help saving for retirement? You can find a financial planner in Aurora to get you started on that path.

Montgomery, Alabama

Today’s expression in Montgomery is the expression of 50,000 people who are tired of being pushed around.
–Dr. Martin Luther King, Jr.

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Montgomery, Alabama?

Cost of Living in Montgomery, Alabama

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,549.64 per month. Rent in a 3-bedroom apartment in the city center is $1,750.00 per month, and rent outside the city center is $1,350.00. That’s probably the difference between living in Wiley and living in Brentwood. So, we’ll split the difference and say that the average rent is $1,550.00 per month.Therefore, the total estimated cost of living for a four-person family in Montgomery, Alabama is $4,099.64 per month. This translates into a $49,195.68 annual cost of living. So, in order to retire in Montgomery while renting an apartment and abiding by the safe withdrawal rate, you would need $1,229,892.

Cost of Housing in Montgomery, Alabama

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Montgomery? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $135,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Montgomery, Alabama, property taxes are 37.42 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $135,000 home, you won’t have to pay the $1,550.00 per month in rent, but you will have the following expenses:

  • Property taxes: $505.17 per year
  • Insurance: $567.00 per year
  • Home maintenance: $1,350.00 per year
  • Total: $2,422.17 per year, or $201.85 per month

Therefore, your cost of living in Montgomery, Alabama, if you own a home will be $2,751.49 per month, or $33,017.88 per year. If you already own a house outright, then the amount you need to retire will be $825,447, and if you need to purchase the $135,000 home, then you will need $960,447. All of these retirement planning numbers are estimates. If you live in Wiley versus Brentwood, your numbers will vary. If you eat at La Jolla every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Montgomery.Need help saving for retirement? You can find a financial planner in Montgomery to get you started on that path.

Akron, Ohio

He could think of the world beyond Akron, which wasn’t such a bad place but was, you know, Akron.
–Stephen King

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Akron, Ohio?

Cost of Living in Akron, Ohio

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,817.68 per month. Rent in a 3-bedroom apartment in the city center is $962.50 per month, and rent outside the city center is $886.00. That’s probably the difference between living in Kenmore and living in Lane-Wooster. So, we’ll split the difference and say that the average rent is $924.25 per month.Therefore, the total estimated cost of living for a four-person family in Akron, Ohio is $3,741.93 per month. This translates into a $44,903.16 annual cost of living. So, in order to retire in Akron while renting an apartment and abiding by the safe withdrawal rate, you would need $1,122,579.

Cost of Housing in Akron, Ohio

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Akron? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $69,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Akron, Ohio, property taxes are 130.69 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $69,900 home, you won’t have to pay the $924.25 per month in rent, but you will have the following expenses:

  • Property taxes: $913.52 per year
  • Insurance: $293.58 per year
  • Home maintenance: $699.00 per year
  • Total: $1,906.10 per year, or $158.84 per month

Therefore, your cost of living in Akron, Ohio, if you own a home will be $2,976.52 per month, or $35,718.24 per year. If you already own a house outright, then the amount you need to retire will be $892,956, and if you need to purchase the $69,900 home, then you will need $962,856. All of these retirement planning numbers are estimates. If you live in Kenmore versus Lane-Wooster, your numbers will vary. If you eat at Ken Stewart’s Grille every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Akron.Need help saving for retirement? You can find a financial planner in Akron to get you started on that path.

Little Rock, Arkansas

Heaven: Arkansas without the heat and mosquitoes
–Jimmy Peacock

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Little Rock, Arkansas?

Cost of Living in Little Rock, Arkansas

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,663.31 per month. Rent in a 3-bedroom apartment in the city center is $1,301.38 per month, and rent outside the city center is $1,005.56. That’s probably the difference between living in Hillcrest and living in Rusty Pines. So, we’ll split the difference and say that the average rent is $1,153.47 per month.Therefore, the total estimated cost of living for a four-person family in Little Rock, Arkansas is $3,816.78 per month. This translates into a $45,801.36 annual cost of living. So, in order to retire in Little Rock while renting an apartment and abiding by the safe withdrawal rate, you would need $1,145,034.

Cost of Housing in Little Rock, Arkansas

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Little Rock? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $199,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Little Rock, Arkansas, property taxes are 57.31 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $199,000 home, you won’t have to pay the $1,153.47 per month in rent, but you will have the following expenses:

  • Property taxes: $1,140.47 per year
  • Insurance: $835.80 per year
  • Home maintenance: $1,990.00 per year
  • Total: $3,966.27 per year, or $330.52 per month

Therefore, your cost of living in Little Rock, Arkansas, if you own a home will be $2,993.83 per month, or $35,925.96 per year. If you already own a house outright, then the amount you need to retire will be $898,149, and if you need to purchase the $199,000 home, then you will need $1,097,149. All of these retirement planning numbers are estimates. If you live in Hillcrest versus Rusty Pines, your numbers will vary. If you eat at One Eleven every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Little Rock.Need help saving for retirement? You can find a financial planner in Little Rock to get you started on that path.

Huntsville, Alabama

What we do at NASA is inspiring. It’s reaching, it’s visionary, and it inspires people on Earth to try hard things.
–John M. Grunsfeld

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Huntsville, Alabama?

Cost of Living in Huntsville, Alabama

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,698.72 per month. Rent in a 3-bedroom apartment in the city center is $1,462.50 per month, and rent outside the city center is $1,118.75. That’s probably the difference between living in Twickenham and living in Greenhill. So, we’ll split the difference and say that the average rent is $1,290.63 per month.Therefore, the total estimated cost of living for a four-person family in Huntsville, Alabama is $3,989.35 per month. This translates into a $47,872.14 annual cost of living. So, in order to retire in Huntsville while renting an apartment and abiding by the safe withdrawal rate, you would need $1,196,804.

Cost of Housing in Huntsville, Alabama

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Huntsville? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $254,119. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Huntsville, Alabama, property taxes are 37.42 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $254,119 home, you won’t have to pay the $1,290.63 per month in rent, but you will have the following expenses:

  • Property taxes: $950.91 per year
  • Insurance: $1,067.30 per year
  • Home maintenance: $2,541.19 per year
  • Total: $4,559.40 per year, or $379.95 per month

Therefore, your cost of living in Huntsville, Alabama, if you own a home will be $3,078.67 per month, or $36,944.04 per year. If you already own a house outright, then the amount you need to retire will be $923,601, and if you need to purchase the $254,119 home, then you will need $1,177,720. All of these retirement planning numbers are estimates. If you live in Twickenham versus Greenhill, your numbers will vary. If you eat at Grille 29 every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Huntsville.Need help saving for retirement? You can find a financial planner in Huntsville to get you started on that path.

Augusta, Georgia

There is absolutely nothing humorous at The Masters. Here, small dogs do not bark and babies do not cry.
–Gary Player

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Augusta, Georgia?

Cost of Living in Augusta, Georgia

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,054.79 per month. Rent in a 3-bedroom apartment in the city center is $1,205.00 per month, and rent outside the city center is $995.00. That’s probably the difference between living in Harrisburg and living in Summerville. So, we’ll split the difference and say that the average rent is $1,100.00 per month.Therefore, the total estimated cost of living for a four-person family in Augusta, Georgia is $4,154.79 per month. This translates into a $49,857.48 annual cost of living. So, in order to retire in Augusta while renting an apartment and abiding by the safe withdrawal rate, you would need $1,246,437.

Cost of Housing in Augusta, Georgia

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Augusta? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $120,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Augusta, Georgia, property taxes are 98.82 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $120,000 home, you won’t have to pay the $1,100.00 per month in rent, but you will have the following expenses:

  • Property taxes: $1,185.84 per year
  • Insurance: $504.00 per year
  • Home maintenance: $1,200.00 per year
  • Total: $2,889.84 per year, or $240.82 per month

Therefore, your cost of living in Augusta, Georgia, if you own a home will be $3,295.61 per month, or $39,547.32 per year. If you already own a house outright, then the amount you need to retire will be $988,683, and if you need to purchase the $120,000 home, then you will need $1,108,683. All of these retirement planning numbers are estimates. If you live in Harrisburg versus Summerville, your numbers will vary. If you eat at Frog Hollow Tavern every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Augusta.Need help saving for retirement? You can find a financial planner in Augusta to get you started on that path.

Port St. Lucie, Florida

It’s always sunny in the Sunshine State. Except for at night.–Jarod Kintz

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Port St. Lucie, Florida?

Cost of Living in Port St. Lucie, Florida

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,037.19 per month. Rent in a 3-bedroom apartment in the city center is $1,600.00 per month, and rent outside the city center is $1,400.00. That’s probably the difference between living in Tradition and living in South Bend. So, we’ll split the difference and say that the average rent is $1,500.00 per month.Therefore, the total estimated cost of living for a four-person family in Port St. Lucie, Florida is $4,537.19 per month. This translates into a $54,446.28 annual cost of living. So, in order to retire in Port St. Lucie while renting an apartment and abiding by the safe withdrawal rate, you would need $1,361,157.

Cost of Housing in Port St. Lucie, Florida

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Port St. Lucie? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $246,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Port St. Lucie, Florida, property taxes are 93.34 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $246,000 home, you won’t have to pay the $1,500.00 per month in rent, but you will have the following expenses:

  • Property taxes: $2,296.16 per year
  • Insurance: $1,033.20 per year
  • Home maintenance: $2,460.00 per year
  • Total: $5,789.36 per year, or $482.45 per month

Therefore, your cost of living in Port St. Lucie, Florida, if you own a home will be $3,519.64 per month, or $42,235.68 per year. If you already own a house outright, then the amount you need to retire will be $1,055,892, and if you need to purchase the $246,000 home, then you will need $1,301,892. All of these retirement planning numbers are estimates. If you live in Tradition versus South Bend, your numbers will vary. If you eat at Uncle Giuseppe’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Port St. Lucie.Need help saving for retirement? You can find a financial planner in Port St. Lucie to get you started on that path.

Columbus, Georgia

I love the infantry because they are the underdogs. They are the mud-rain-frost-and-wind boys. They have no comforts, and they even learn to live without the necessities. And in the end they are the guys that wars can’t be won without.–Ernie Pyle

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Columbus, Georgia?

Cost of Living in Columbus, Georgia

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,900.56 per month. Rent in a 3-bedroom apartment in the city center is $1,383.33 per month, and rent outside the city center is $1,360.00. That’s probably the difference between living in Midland and living in Fortson. So, we’ll split the difference and say that the average rent is $1,371.67 per month.Therefore, the total estimated cost of living for a four-person family in Columbus, Georgia is $4,272.23 per month. This translates into a $51,266.70 annual cost of living. So, in order to retire in Columbus while renting an apartment and abiding by the safe withdrawal rate, you would need $1,281,668.

Cost of Housing in Columbus, Georgia

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Columbus? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $107,500. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Columbus, Georgia, property taxes are 98.82 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $107,500 home, you won’t have to pay the $1,371.67 per month in rent, but you will have the following expenses:

  • Property taxes: $1,062.32 per year
  • Insurance: $451.50 per year
  • Home maintenance: $1,075.00 per year
  • Total: $2,588.82 per year, or $215.73 per month

Therefore, your cost of living in Columbus, Georgia, if you own a home will be $3,116.29 per month, or $37,395.48 per year. If you already own a house outright, then the amount you need to retire will be $934,887, and if you need to purchase the $107,500 home, then you will need $1,042,387. All of these retirement planning numbers are estimates. If you live in Midland versus Fortson, your numbers will vary. If you eat at Epic Restaurant every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Columbus.Need help saving for retirement? You can find a financial planner in Columbus to get you started on that path.

Tallahassee, Florida

In 12 years at Florida, I don’t think we ever signed a kid from the state of Alabama … Of course, we found out later that the scholarships they were giving out at Alabama were worth a whole lot more than ours
– Steve Spurrier

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Tallahassee, Florida?

Cost of Living in Tallahassee, Florida

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,815.13 per month. Rent in a 3-bedroom apartment in the city center is $1,440.00 per month, and rent outside the city center is $1,116.67. That’s probably the difference between living in Betton Hills and living in College Town. So, we’ll split the difference and say that the average rent is $1,278.34 per month.Therefore, the total estimated cost of living for a four-person family in Tallahassee, Florida is $4,093.47 per month. This translates into a $49,121.58 annual cost of living. So, in order to retire in Tallahassee while renting an apartment and abiding by the safe withdrawal rate, you would need $1,228,040.

Cost of Housing in Tallahassee, Florida

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Tallahassee? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $215,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Tallahassee, Florida, property taxes are 93.34 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $215,000 home, you won’t have to pay the $1,278.34 per month in rent, but you will have the following expenses:

  • Property taxes: $2,006.81 per year
  • Insurance: $903.00 per year
  • Home maintenance: $2,150.00 per year
  • Total: $5,059.81 per year, or $421.65 per month

Therefore, your cost of living in Tallahassee, Florida, if you own a home will be $3,236.78 per month, or $38,841.36 per year. If you already own a house outright, then the amount you need to retire will be $971,034, and if you need to purchase the $215,000 home, then you will need $1,186,034. All of these retirement planning numbers are estimates. If you live in Betton Hills versus College Town, your numbers will vary. If you eat at A La Provence every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Tallahassee.Need help saving for retirement? You can find a financial planner in Tallahassee to get you started on that path.

Overland Park, Kansas

“Toto, I have a feeling we’re not in Kansas anymore.”― L. Frank Baum

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Overland Park, Kansas?

Cost of Living in Overland Park, Kansas

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,952.11 per month. Rent in a 3-bedroom apartment in the city center is $1,800.00 per month, and rent outside the city center is $916.67. That’s probably the difference between living in Mills Farm and living in Skyler Ridge. So, we’ll split the difference and say that the average rent is $1,358.34 per month.Therefore, the total estimated cost of living for a four-person family in Overland Park, Kansas is $4,310.45 per month. This translates into a $51,725.34 annual cost of living. So, in order to retire in Overland Park while renting an apartment and abiding by the safe withdrawal rate, you would need $1,293,134.

Cost of Housing in Overland Park, Kansas

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Overland Park? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $403,432. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Overland Park, Kansas, property taxes are 156.05 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $403,432 home, you won’t have to pay the $1,358.34 per month in rent, but you will have the following expenses:

  • Property taxes: $6,295.56 per year
  • Insurance: $1,694.41 per year
  • Home maintenance: $4,034.32 per year
  • Total: $12,024.29 per year, or $1,002.02 per month

Therefore, your cost of living in Overland Park, Kansas, if you own a home will be $3,954.13 per month, or $47,449.56 per year. If you already own a house outright, then the amount you need to retire will be $1,186,239, and if you need to purchase the $403,432 home, then you will need $1,589,671. All of these retirement planning numbers are estimates. If you live in Mills Farm versus Skyler Ridge, your numbers will vary. If you eat at Gaslight Grill every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Overland Park.Need help saving for retirement? You can find a financial planner in Overland Park to get you started on that path.

Tempe, Arizona

Few countries in the world present so marvellous a variety of scenic features as does Arizona.
–George Wharton James

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Tempe, Arizona?

Cost of Living in Tempe, Arizona

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,870.11 per month. Rent in a 3-bedroom apartment in the city center is $1,733.33 per month, and rent outside the city center is $1,266.67. That’s probably the difference between living in Gililland and living in Sandahl. So, we’ll split the difference and say that the average rent is $1,500.00 per month.Therefore, the total estimated cost of living for a four-person family in Tempe, Arizona is $4,370.11 per month. This translates into a $52,441.32 annual cost of living. So, in order to retire in Tempe while renting an apartment and abiding by the safe withdrawal rate, you would need $1,311,033.

Cost of Housing in Tempe, Arizona

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Tempe? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $299,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Tempe, Arizona, property taxes are 77.33 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $299,900 home, you won’t have to pay the $1,500.00 per month in rent, but you will have the following expenses:

  • Property taxes: $2,319.13 per year
  • Insurance: $1,259.58 per year
  • Home maintenance: $2,999.00 per year
  • Total: $6,577.71 per year, or $548.14 per month

Therefore, your cost of living in Tempe, Arizona, if you own a home will be $3,418.25 per month, or $41,019.00 per year. If you already own a house outright, then the amount you need to retire will be $1,025,475, and if you need to purchase the $299,900 home, then you will need $1,325,375. All of these retirement planning numbers are estimates. If you live in Gililland versus Sandahl, your numbers will vary. If you eat at Top of the Rock every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Tempe.Need help saving for retirement? You can find a financial planner in Tempe to get you started on that path.

McKinney, Texas

There wouldn’t be no Alamo,No Cowboys in the Superbowl…No Lonesome Dove, no “Yellow Rose”,If it wasn’t for Texas.–George Strait

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in McKinney, Texas?

Cost of Living in McKinney, Texas

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,499.42 per month. Rent in a 3-bedroom apartment in the city center is $1,800.00 per month, and rent outside the city center is $1,668.00. That’s probably the difference between living in Isleworth and living in Somerset. So, we’ll split the difference and say that the average rent is $1,734.00 per month.Therefore, the total estimated cost of living for a four-person family in McKinney, Texas is $4,233.42 per month. This translates into a $50,801.04 annual cost of living. So, in order to retire in McKinney while renting an apartment and abiding by the safe withdrawal rate, you would need $1,270,026.

Cost of Housing in McKinney, Texas

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in McKinney? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $381,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In McKinney, Texas, property taxes are 138.12 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $381,000 home, you won’t have to pay the $1,734.00 per month in rent, but you will have the following expenses:

  • Property taxes: $5,262.37 per year
  • Insurance: $1,600.20 per year
  • Home maintenance: $3,810.00 per year
  • Total: $10,672.57 per year, or $889.38 per month

Therefore, your cost of living in McKinney, Texas, if you own a home will be $3,388.80 per month, or $40,665.60 per year. If you already own a house outright, then the amount you need to retire will be $1,016,640, and if you need to purchase the $381,000 home, then you will need $1,397,640. All of these retirement planning numbers are estimates. If you live in Isleworth versus Somerset, your numbers will vary. If you eat at Rick’s Chophouse every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in McKinney.Need help saving for retirement? You can find a financial planner in McKinney to get you started on that path.

Mobile, Alabama

Moon Pies have become such an icon of Mobile that a 12-foot version of the cookie drops from one of the city’s tallest buildings on New Year’s Eve. (Source)

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Mobile, Alabama?

Cost of Living in Mobile, Alabama

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,980.21 per month. Rent in a 3-bedroom apartment in the city center is $1,247.86 per month, and rent outside the city center is $1,025.00. That’s probably the difference between living in Leinkauf and living in Greenmound. So, we’ll split the difference and say that the average rent is $1,136.43 per month.Therefore, the total estimated cost of living for a four-person family in Mobile, Alabama is $4,116.64 per month. This translates into a $49,399.68 annual cost of living. So, in order to retire in Mobile while renting an apartment and abiding by the safe withdrawal rate, you would need $1,234,992.

Cost of Housing in Mobile, Alabama

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Mobile? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $154,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Mobile, Alabama, property taxes are 37.42 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $154,900 home, you won’t have to pay the $1,136.43 per month in rent, but you will have the following expenses:

  • Property taxes: $579.64 per year
  • Insurance: $650.58 per year
  • Home maintenance: $1,549.00 per year
  • Total: $2,779.22 per year, or $231.60 per month

Therefore, your cost of living in Mobile, Alabama, if you own a home will be $3,211.81 per month, or $38,541.72 per year. If you already own a house outright, then the amount you need to retire will be $963,543, and if you need to purchase the $154,900 home, then you will need $1,118,443. All of these retirement planning numbers are estimates. If you live in Leinkauf versus Greenmound, your numbers will vary. If you eat at NoJa every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Mobile.Need help saving for retirement? You can find a financial planner in Mobile to get you started on that path.

Shreveport, Louisiana

“How’s ya momma and dem?”
–Every meeting of long-lost friends

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Shreveport, Louisiana?

Cost of Living in Shreveport, Louisiana

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,663.68 per month. Rent in a 3-bedroom apartment in the city center is $1,300.00 per month, and rent outside the city center is $1,143.75. That’s probably the difference between living in Queensborough and living in Woodstone. So, we’ll split the difference and say that the average rent is $1,221.88 per month.Therefore, the total estimated cost of living for a four-person family in Shreveport, Louisiana is $3,885.56 per month. This translates into a $46,626.66 annual cost of living. So, in order to retire in Shreveport while renting an apartment and abiding by the safe withdrawal rate, you would need $1,165,667.

Cost of Housing in Shreveport, Louisiana

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Shreveport? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $165,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Shreveport, Louisiana, property taxes are 40.28 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $165,000 home, you won’t have to pay the $1,221.88 per month in rent, but you will have the following expenses:

  • Property taxes: $664.62 per year
  • Insurance: $693.00 per year
  • Home maintenance: $1,650.00 per year
  • Total: $3,007.62 per year, or $250.64 per month

Therefore, your cost of living in Shreveport, Louisiana, if you own a home will be $2,914.32 per month, or $34,971.84 per year. If you already own a house outright, then the amount you need to retire will be $874,296, and if you need to purchase the $165,000 home, then you will need $1,039,296. All of these retirement planning numbers are estimates. If you live in Queensborough versus Woodstone, your numbers will vary. If you eat at Yeero-Yeero every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Shreveport.Need help saving for retirement? You can find a financial planner in Shreveport to get you started on that path.

Frisco, Texas

Being from Texas, I would say I favor a pair of jeans you can wear some boots with.–Jensen Ackles

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Frisco, Texas?

Cost of Living in Frisco, Texas

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,957.52 per month. Rent in a 3-bedroom apartment in the city center is $2,370.00 per month, and rent outside the city center is $1,600.00. That’s probably the difference between living in Frisco Square and living in Richwoods. So, we’ll split the difference and say that the average rent is $1,985.00 per month.Therefore, the total estimated cost of living for a four-person family in Frisco, Texas is $4,942.52 per month. This translates into a $59,310.24 annual cost of living. So, in order to retire in Frisco while renting an apartment and abiding by the safe withdrawal rate, you would need $1,482,756.

Cost of Housing in Frisco, Texas

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Frisco? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $499,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Frisco, Texas, property taxes are 138.12 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $499,000 home, you won’t have to pay the $1,985.00 per month in rent, but you will have the following expenses:

  • Property taxes: $6,892.19 per year
  • Insurance: $2,095.80 per year
  • Home maintenance: $4,990.00 per year
  • Total: $13,977.99 per year, or $1,164.83 per month

Therefore, your cost of living in Frisco, Texas, if you own a home will be $4,122.35 per month, or $49,468.20 per year. If you already own a house outright, then the amount you need to retire will be $1,236,705, and if you need to purchase the $499,000 home, then you will need $1,735,705. All of these retirement planning numbers are estimates. If you live in Frisco Square versus Richwoods, your numbers will vary. If you eat at Dee Lincoln Prime every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Frisco.Need help saving for retirement? You can find a financial planner in Frisco to get you started on that path.

Knoxville, Tennessee

Never take for granted what it means to be a Volunteer.
–Peyton Manning

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Knoxville, Tennessee?

Cost of Living in Knoxville, Tennessee

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,857.66 per month. Rent in a 3-bedroom apartment in the city center is $1,557.14 per month, and rent outside the city center is $1,264.44. That’s probably the difference between living in Fountain City and living in Whittle Springs. So, we’ll split the difference and say that the average rent is $1,410.79 per month.Therefore, the total estimated cost of living for a four-person family in Knoxville, Tennessee is $4,268.45 per month. This translates into a $51,221.40 annual cost of living. So, in order to retire in Knoxville while renting an apartment and abiding by the safe withdrawal rate, you would need $1,280,535.

Cost of Housing in Knoxville, Tennessee

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Knoxville? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $234,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Knoxville, Tennessee, property taxes are 64.89 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $234,900 home, you won’t have to pay the $1,410.79 per month in rent, but you will have the following expenses:

  • Property taxes: $1,524.27 per year
  • Insurance: $986.58 per year
  • Home maintenance: $2,349.00 per year
  • Total: $4,859.85 per year, or $404.99 per month

Therefore, your cost of living in Knoxville, Tennessee, if you own a home will be $3,262.65 per month, or $39,151.80 per year. If you already own a house outright, then the amount you need to retire will be $978,795, and if you need to purchase the $234,900 home, then you will need $1,213,695. All of these retirement planning numbers are estimates. If you live in Fountain City versus Whittle Springs, your numbers will vary. If you eat at Northshore Brasserie every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Knoxville.Need help saving for retirement? You can find a financial planner in Knoxville to get you started on that path.

Worcester, Massachusetts

“I’d have been queen of all England, but Massachusetts haunted me and wouldn’t let me go.”― C.F. Joyce

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Worcester, Massachusetts?

Cost of Living in Worcester, Massachusetts

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,899.26 per month. Rent in a 3-bedroom apartment in the city center is $1,833.33 per month, and rent outside the city center is $1,760.00. That’s probably the difference between living in Greendale and living in Bell Hill. So, we’ll split the difference and say that the average rent is $1,796.67 per month.Therefore, the total estimated cost of living for a four-person family in Worcester, Massachusetts is $4,695.93 per month. This translates into a $56,351.10 annual cost of living. So, in order to retire in Worcester while renting an apartment and abiding by the safe withdrawal rate, you would need $1,408,778.

Cost of Housing in Worcester, Massachusetts

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Worcester? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $239,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Worcester, Massachusetts, property taxes are 156.8 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $239,000 home, you won’t have to pay the $1,796.67 per month in rent, but you will have the following expenses:

  • Property taxes: $3,747.52 per year
  • Insurance: $1,003.80 per year
  • Home maintenance: $2,390.00 per year
  • Total: $7,141.32 per year, or $595.11 per month

Therefore, your cost of living in Worcester, Massachusetts, if you own a home will be $3,494.37 per month, or $41,932.44 per year. If you already own a house outright, then the amount you need to retire will be $1,048,311, and if you need to purchase the $239,000 home, then you will need $1,287,311. All of these retirement planning numbers are estimates. If you live in Greendale versus Bell Hill, your numbers will vary. If you eat at the Sole Proprietor every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Worcester.Need help saving for retirement? You can find a financial planner in Worcester to get you started on that path.

Brownsville, Texas

Always marry a woman from Texas. No matter how tough things get, she’s seen tougher.–Dan Rather

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Brownsville, Texas?

Cost of Living in Brownsville, Texas

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,468.28 per month. Rent in a 3-bedroom apartment in the city center is $750.00 per month, and rent outside the city center is $633.33. That’s probably the difference between living in Southmost and living in Russelltown. So, we’ll split the difference and say that the average rent is $691.67 per month.Therefore, the total estimated cost of living for a four-person family in Brownsville, Texas is $3,159.95 per month. This translates into a $37,919.34 annual cost of living. So, in order to retire in Brownsville while renting an apartment and abiding by the safe withdrawal rate, you would need $947,984.

Cost of Housing in Brownsville, Texas

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Brownsville? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $144,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Brownsville, Texas, property taxes are 138.12 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $144,900 home, you won’t have to pay the $691.67 per month in rent, but you will have the following expenses:

  • Property taxes: $2,001.36 per year
  • Insurance: $608.58 per year
  • Home maintenance: $1,449.00 per year
  • Total: $4,058.94 per year, or $338.24 per month

Therefore, your cost of living in Brownsville, Texas, if you own a home will be $2,806.52 per month, or $33,678.24 per year. If you already own a house outright, then the amount you need to retire will be $841,956, and if you need to purchase the $144,900 home, then you will need $986,856. All of these retirement planning numbers are estimates. If you live in Southmost versus Russelltown, your numbers will vary. If you eat at Vera’s Backyard Bar-B Que every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Brownsville.Need help saving for retirement? You can find a financial planner in Brownsville to get you started on that path.

Vancouver, Washington

We aren’t Canadians!
–Residents of Vancouver, WASHINGTON

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Vancouver, Washington?

Cost of Living in Vancouver, Washington

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,176.25 per month. Rent in a 3-bedroom apartment in the city center is $1,675.00 per month, and rent outside the city center is $1,531.25. That’s probably the difference between living in Marrion and living in Arnada. So, we’ll split the difference and say that the average rent is $1,603.13 per month.

Therefore, the total estimated cost of living for a four-person family in Vancouver, Washington is $4,779.38 per month. This translates into a $57,352.50 annual cost of living.

So, in order to retire in Vancouver while renting an apartment and abiding by the safe withdrawal rate, you would need $1,433,813.

Cost of Housing in Vancouver, Washington

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Vancouver?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $389,000.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Vancouver, Washington, property taxes are 97.08 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $389,000 home, you won’t have to pay the $1,603.13 per month in rent, but you will have the following expenses:

  • Property taxes: $3,776.41 per year
  • Insurance: $1,633.80 per year
  • Home maintenance: $3,890.00 per year
  • Total: $9,300.21 per year, or $775.02 per month

Therefore, your cost of living in Vancouver, Washington, if you own a home will be $3,951.27 per month, or $47,415.24 per year. If you already own a house outright, then the amount you need to retire will be $1,185,381, and if you need to purchase the $389,000 home, then you will need $1,574,381.

All of these retirement planning numbers are estimates. If you live in Marrion versus Arnada, your numbers will vary. If you eat at Elements every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Vancouver.

Need help saving for retirement? You can find a financial planner in Vancouver to get you started on that path.

Fort Lauderdale, Florida

Originally there were three “Fort Lauderdales,” the first of which was founded in 1838. The area only began to develop after 1920s during the Florida land boom, made possible by the invention of air conditioning. (Source)

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Fort Lauderdale, Florida?

Cost of Living in Fort Lauderdale, Florida

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,176.27 per month. Rent in a 3-bedroom apartment in the city center is $2,520.00 per month, and rent outside the city center is $2,075.00. That’s probably the difference between living in Bal Harbour and living in Las Olas Isles. So, we’ll split the difference and say that the average rent is $2,297.50 per month.Therefore, the total estimated cost of living for a four-person family in Fort Lauderdale, Florida is $5,473.77 per month. This translates into a $65,685.24 annual cost of living. So, in order to retire in Fort Lauderdale while renting an apartment and abiding by the safe withdrawal rate, you would need $1,642,131.

Cost of Housing in Fort Lauderdale, Florida

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Fort Lauderdale? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $489,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Fort Lauderdale, Florida, property taxes are 93.34 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $489,000 home, you won’t have to pay the $2,297.50 per month in rent, but you will have the following expenses:

  • Property taxes: $4,564.33 per year
  • Insurance: $2,053.80 per year
  • Home maintenance: $4,890.00 per year
  • Total: $11,508.13 per year, or $959.01 per month

Therefore, your cost of living in Fort Lauderdale, Florida, if you own a home will be $4,135.28 per month, or $49,623.36 per year. If you already own a house outright, then the amount you need to retire will be $1,240,584, and if you need to purchase the $489,000 home, then you will need $1,729,584. All of these retirement planning numbers are estimates. If you live in Bal Harbour versus Las Olas Isles, your numbers will vary. If you eat at Canyon every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Fort Lauderdale.Need help saving for retirement? You can find a financial planner in Fort Lauderdale to get you started on that path.

Sioux Falls, South Dakota

I learned more about the economy from one South Dakota dust storm that I did in all my years of college.
–Hubert H. Humphrey

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Sioux Falls, South Dakota?

Cost of Living in Sioux Falls, South Dakota

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,322.37 per month. Rent in a 3-bedroom apartment in the city center is $1,395.00 per month, and rent outside the city center is $1,130.00. That’s probably the difference between living in Whittier and living in Beadie Greenway. So, we’ll split the difference and say that the average rent is $1,262.50 per month.

Therefore, the total estimated cost of living for a four-person family in Sioux Falls, South Dakota is $3,584.87 per month. This translates into a $43,018.44 annual cost of living.

So, in order to retire in Sioux Falls while renting an apartment and abiding by the safe withdrawal rate, you would need $1,075,461.

Cost of Housing in Sioux Falls, South Dakota

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Sioux Falls?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $225,000.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Sioux Falls, South Dakota, property taxes are 132.95 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $225,000 home, you won’t have to pay the $1,262.50 per month in rent, but you will have the following expenses:

  • Property taxes: $2,991.4 per year
  • Insurance: $945.00 per year
  • Home maintenance: $2,250.00 per year
  • Total: $6,,186.40 per year, or $515.53 per month

Therefore, your cost of living in Sioux Falls, South Dakota, if you own a home will be $2,837.91 per month, or $34,054.92 per year. If you already own a house outright, then the amount you need to retire will be $851,373, and if you need to purchase the $225,000 home, then you will need $1,076,373.

All of these retirement planning numbers are estimates. If you live in Whittier versus Beadie Greenway, your numbers will vary. If you eat at Minerva’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Sioux Falls.

Need help saving for retirement? You can find a financial planner in Sioux Falls to get you started on that path.

Ontario, California

California to me as a concept or as an idea always seems like endless optimism and endless opportunity – when people think of California they think of palm trees and blue skies and gorgeous sunsets and beaches and everything else.

–Mark Hoppus

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Ontario, California?

Cost of Living in Ontario, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,022.61 per month. Rent in a 3-bedroom apartment in the city center is $2,430.00 per month, and rent outside the city center is $2183.33. That’s probably the difference between living in Racimo and living in Ballou. So, we’ll split the difference and say that the average rent is $2306.67 per month.

Therefore, the total estimated cost of living for a four-person family in Ontario, California is $5,329.28 per month. This translates into a $63,951.36 annual cost of living.

So, in order to retire in Ontario while renting an apartment and abiding by the safe withdrawal rate, you would need $1,598,784.

Cost of Housing in Ontario, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Ontario?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $438,500.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Ontario, California, property taxes are 79.86 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $438,500 home, you won’t have to pay the $2,306.67 per month in rent, but you will have the following expenses:

  • Property taxes: $350.19 per year
  • Insurance: $1,841.70 per year
  • Home maintenance: $4,385.00 per year
  • Total: $6,576.89 per year, or $548.07 per month

Therefore, your cost of living in Ontario, California, if you own a home will be $3,833.32 per month, or $45,999.84 per year. If you already own a house outright, then the amount you need to retire will be $1,149,996, and if you need to purchase the $438,500 home, then you will need $1,588,496.

All of these retirement planning numbers are estimates. If you live in Racimo versus Ballou, your numbers will vary. If you eat at New York Grill every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Ontario.

Need help saving for retirement? You can find a financial planner in Ontario to get you started on that path.

Chattanooga, Tennessee

I’ve got high standards when it comes to boys. As my dad says, all girls should! I’m from the South – Tennessee, to be exact – and down there, we’re all about southern hospitality. I know that if I like a guy, he better be nice, and above all, my dad has to approve of him!
–Miley Cyrus

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Chattanooga, Tennessee?

Cost of Living in Chattanooga, Tennessee

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,915.81 per month. Rent in a 3-bedroom apartment in the city center is $1,842.86 per month, and rent outside the city center is $1,260.00. That’s probably the difference between living in Alton Park and living in Bal Habor. So, we’ll split the difference and say that the average rent is $1,551.43 per month.Therefore, the total estimated cost of living for a four-person family in Chattanooga, Tennessee is $4,467.24 per month. This translates into a $53,606.88 annual cost of living. So, in order to retire in Chattanooga while renting an apartment and abiding by the safe withdrawal rate, you would need $1,340,172.

Cost of Housing in Chattanooga, Tennessee

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Chattanooga? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $236,875. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Chattanooga, Tennessee, property taxes are 64.89 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $236,875 home, you won’t have to pay the $1,551.43 per month in rent, but you will have the following expenses:

  • Property taxes: $1,537.08 per year
  • Insurance: $994.88 per year
  • Home maintenance: $2,368.75 per year
  • Total: $4,900.71 per year, or $408.39 per month

Therefore, your cost of living in Chattanooga, Tennessee, if you own a home will be $3,324.20 per month, or $39,890.40 per year. If you already own a house outright, then the amount you need to retire will be $997,260, and if you need to purchase the $236,875 home, then you will need $1,234,135. All of these retirement planning numbers are estimates. If you live in Alton Park versus Bal Habor, your numbers will vary. If you eat at Hennen’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Chattanooga.Need help saving for retirement? You can find a financial planner in Chattanooga to get you started on that path.

Providence, Rhode Island

I’ve been in Rhode Island a lot…Man, Rhode Island’s a good place. It’s a really good place.
– Taylor Swift

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Providence, Rhode Island?

Cost of Living in Providence, Rhode Island

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,320.60 per month. Rent in a 3-bedroom apartment in the city center is $1,875.00 per month, and rent outside the city center is $1,425.00. That’s probably the difference between living in Federal Hill and living in Blackstone. So, we’ll split the difference and say that the average rent is $1,650.00 per month.Therefore, the total estimated cost of living for a four-person family in Providence, Rhode Island is $4,970.60 per month. This translates into a $59,647.20 annual cost of living. So, in order to retire in Providence while renting an apartment and abiding by the safe withdrawal rate, you would need $1,491,180.

Cost of Housing in Providence, Rhode Island

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Providence? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $209,900. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Providence, Rhode Island, property taxes are 154.2 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $209,900 home, you won’t have to pay the $1,650.00 per month in rent, but you will have the following expenses:

  • Property taxes: $3,236.66 per year
  • Insurance: $881.58 per year
  • Home maintenance: $2,099.00 per year
  • Total: $6,217.24 per year, or $518.10 per month

Therefore, your cost of living in Providence, Rhode Island, if you own a home will be $3,838.70 per month, or $46,064.40 per year. If you already own a house outright, then the amount you need to retire will be $1,151,610, and if you need to purchase the $209,900 home, then you will need $1,361,510. All of these retirement planning numbers are estimates. If you live in Federal Hill versus Blackstone, your numbers will vary. If you eat at Mill’s Tavern every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Providence.Need help saving for retirement? You can find a financial planner in Providence to get you started on that path.

Newport News, Virginia

My mother was a public school teacher in Virginia, and we didn’t have any money, we just survived on happiness, on being a happy family.
–Dave Grohl

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Newport News, Virginia?

Cost of Living in Newport News, Virginia

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,223.30 per month. Rent in a 3-bedroom apartment in the city center is $1,750.00 per month, and rent outside the city center is $1,221.67. That’s probably the difference between living in Menchville and living in Wendwood. So, we’ll split the difference and say that the average rent is $1,485.84 per month.Therefore, the total estimated cost of living for a four-person family in Newport News, Virginia is $4,709.14 per month. This translates into a $56,509.62 annual cost of living. So, in order to retire in Newport News while renting an apartment and abiding by the safe withdrawal rate, you would need $1,412,741.

Cost of Housing in Newport News, Virginia

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Newport News? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $175,000. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Newport News, Virginia, property taxes are 71.32 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $175,000 home, you won’t have to pay the $1,485.84 per month in rent, but you will have the following expenses:

  • Property taxes: $1,248.10 per year
  • Insurance: $735.00 per year
  • Home maintenance: $1,750.00 per year
  • Total: $3,733.10 per year, or $311.09 per month

Therefore, your cost of living in Newport News, Virginia, if you own a home will be $3,534.39 per month, or $42,412.68 per year. If you already own a house outright, then the amount you need to retire will be $1,060,317, and if you need to purchase the $175,000 home, then you will need $1,235,317. All of these retirement planning numbers are estimates. If you live in Menchville versus Wendwood, your numbers will vary. If you eat at Schlesinger’s Steakhouse every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Newport News.Need help saving for retirement? You can find a financial planner in Newport News to get you started on that path.

Rancho Cucamonga, California

All things start in California and spread to New Jersey, then to London and then throughout Europe.–Stelios Haji-Ioannou

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Rancho Cucamonga, California?

Cost of Living in Rancho Cucamonga, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,910.55 per month. Rent in a 3-bedroom apartment in the city center is $2,050.00 per month, and rent outside the city center is $1,850.00. That’s probably the difference between living in Etiwanda and living in Grapeland. So, we’ll split the difference and say that the average rent is $1,950.00 per month.Therefore, the total estimated cost of living for a four-person family in Rancho Cucamonga, California is $4,860.55 per month. This translates into a $58,326.60 annual cost of living. So, in order to retire in Rancho Cucamonga while renting an apartment and abiding by the safe withdrawal rate, you would need $1,458,165.

Cost of Housing in Rancho Cucamonga, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Rancho Cucamonga? According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $544,950. However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Rancho Cucamonga, California, property taxes are 79.86 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year. So, if you’re going to own a $544,950 home, you won’t have to pay the $1,950.00 per month in rent, but you will have the following expenses:

  • Property taxes: $4,351.97 per year
  • Insurance: $2,288.79 per year
  • Home maintenance: $5,449.50 per year
  • Total: $12,090.26 per year, or $1,007.52 per month

Therefore, your cost of living in Rancho Cucamonga, California, if you own a home will be $3,918.07 per month, or $47,016.84 per year. If you already own a house outright, then the amount you need to retire will be $1,175,421, and if you need to purchase the $544,950 home, then you will need $1,720,371. All of these retirement planning numbers are estimates. If you live in Etiwanda versus Grapeland, your numbers will vary. If you eat at Fleming’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Rancho Cucamonga.Need help saving for retirement? You can find a financial planner in Rancho Cucamonga to get you started on that path.

Santa Rosa, California

“In victory, you deserve Champagne. In defeat you need it.”

― Napoleon Bonaparte

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Santa Rosa, California?

Cost of Living in Santa Rosa, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,857.39 per month. Rent in a 3-bedroom apartment in the city center is $2,716.67 per month, and rent outside the city center is $2,500.00. That’s probably the difference between living in Gravenstein and living in Cherry Street. So, we’ll split the difference and say that the average rent is $2,608.34 per month.

Therefore, the total estimated cost of living for a four-person family in Santa Rosa, California is $6,465.73 per month. This translates into a $77,588.70 annual cost of living.

So, in order to retire in Santa Rosa while renting an apartment and abiding by the safe withdrawal rate, you would need $1,939,718.

Cost of Housing in Santa Rosa, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Santa Rosa?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $598,900.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Santa Rosa, California, property taxes are 79.86 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $598,900 home, you won’t have to pay the $2,608.34 per month in rent, but you will have the following expenses:

  • Property taxes: $4782.80 per year
  • Insurance: $2,515.38 per year
  • Home maintenance: $5,989.00 per year
  • Total: $17.893.13 per year, or $1,491.09 per month

Therefore, your cost of living in Santa Rosa, California, if you own a home will be $4,964.66 per month, or $59,575.92 per year. If you already own a house outright, then the amount you need to retire will be $1,489,398, and if you need to purchase the $598,900 home, then you will need $2,088,298.

All of these retirement planning numbers are estimates. If you live in Gravenstein versus Cherry Street, your numbers will vary. If you eat at John Ash & Co every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Santa Rosa.

Need help saving for retirement? You can find a financial planner in Santa Rosa to get you started on that path.

Oceanside, California

I grew up in Southern California so I was always at the beach and outdoors. I remember my dad laying around the pool baking; he was practically George Hamilton.

–C. J. Wilson

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Oceanside, California?

Cost of Living in Oceanside, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,126.62 per month. Rent in a 3-bedroom apartment in the city center is $2,322.75 per month, and rent outside the city center is $2,066.67. That’s probably the difference between living in Peacock and living in Tri-City. So, we’ll split the difference and say that the average rent is $2,194.71 per month.

Therefore, the total estimated cost of living for a four-person family in Oceanside, California is $5,321.33 per month. This translates into a $63,855.96 annual cost of living.

So, in order to retire in Oceanside while renting an apartment and abiding by the safe withdrawal rate, you would need $1,596,399.

Cost of Housing in Oceanside, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Oceanside?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $569,000.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Oceanside, California, property taxes are 79.86 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $569,000 home, you won’t have to pay the $2,194.71 per month in rent, but you will have the following expenses:

  • Property taxes: $4,544.00 per year
  • Insurance: $2,389.80 per year
  • Home maintenance: $5,690.00 per year
  • Total: $16,461.60 per year, or $1,371.80 per month

Therefore, your cost of living in Oceanside, California, if you own a home will be $4,178.60 per month, or $50,143.20 per year. If you already own a house outright, then the amount you need to retire will be $1,253,580, and if you need to purchase the $569,000 home, then you will need $1,822,580.

All of these retirement planning numbers are estimates. If you live in Peacock versus Tri-City, your numbers will vary. If you eat at Dija Mara every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Oceanside.

Need help saving for retirement? You can find a financial planner in Oceanside to get you started on that path.

Salem, Oregon

I used to think I’d like to have been a pioneer on the Oregon Trail, experience untamed America.
–Tracie Peterson

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Salem, Oregon?

Cost of Living in Salem, Oregon

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,018.37 per month. Rent in a 3-bedroom apartment in the city center is $1,512.50 per month, and rent outside the city center is $1,312.50. That’s probably the difference between living in South Gateway and living in Grabenhorst Corner. So, we’ll split the difference and say that the average rent is $1,412.50 per month.

Therefore, the total estimated cost of living for a four-person family in Salem, Oregon is $4,430.87 per month. This translates into a $53,170.44 annual cost of living.

So, in order to retire in Salem while renting an apartment and abiding by the safe withdrawal rate, you would need $1,329,261.

Cost of Housing in Salem, Oregon

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Salem?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $309,900.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Salem, Oregon, property taxes are 100.06 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $309,900 home, you won’t have to pay the $1,412.50 per month in rent, but you will have the following expenses:

  • Property taxes: $3,100.90 per year
  • Insurance: $1,301.58 per year
  • Home maintenance: $3,099.00 per year
  • Total: $10,912.41 per year, or $909.37 per month

Therefore, your cost of living in Salem, Oregon, if you own a home will be $3,643.50 per month, or $43,722.00 per year. If you already own a house outright, then the amount you need to retire will be $1,093,050, and if you need to purchase the $309,900 home, then you will need $1,402,950.

All of these retirement planning numbers are estimates. If you live in South Gateway versus Grabenhorst Corner, your numbers will vary. If you eat at Roberts Crossing every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Salem.

Need help saving for retirement? You can find a financial planner in Salem to get you started on that path.

Elk Grove, California

In California, thieves have three choices: They can go to prison, Sacramento, or Washington D.C.

–Burt Prelutsky

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Elk Grove, California?

Cost of Living in Elk Grove, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,526.52 per month. Rent in a 3-bedroom apartment in the city center is $2,252.38 per month, and rent outside the city center is $1,845.00. That’s probably the difference between living in Pleasant Grove Estates and living in The Shires. So, we’ll split the difference and say that the average rent is $2,048.69 per month.

Therefore, the total estimated cost of living for a four-person family in Elk Grove, California is $5,575.21 per month. This translates into a $66,902.52 annual cost of living.

So, in order to retire in Elk Grove while renting an apartment and abiding by the safe withdrawal rate, you would need $1,672,563.

Cost of Housing in Elk Grove, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Elk Grove?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $449,000.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Elk Grove, California, property taxes are 79.86 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $449,000 home, you won’t have to pay the $2,048.69 per month in rent, but you will have the following expenses:

  • Property taxes: $3,585.70 per year
  • Insurance: $1,885.80 per year
  • Home maintenance: $4,490.00 per year
  • Total: $14,049.22 per year, or $1,170.77 per month

Therefore, your cost of living in Elk Grove, California, if you own a home will be $4,356.65 per month, or $52,279.80 per year. If you already own a house outright, then the amount you need to retire will be $1,306,995, and if you need to purchase the $449,000 home, then you will need $1,755,995.

All of these retirement planning numbers are estimates. If you live in Pleasant Grove Estates versus The Shires, your numbers will vary. If you eat at Palermo Ristorante Italiano every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Elk Grove.

Need help saving for retirement? You can find a financial planner in Elk Grove to get you started on that path.

Garden Grove, California

I like to go for a little drive up the California coast.

–Colin Farrell

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Garden Grove, California?

Cost of Living in Garden Grove, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,966.99 per month. Rent in a 3-bedroom apartment in the city center is $2,450.00 per month, and rent outside the city center is $1,950.00. That’s probably the difference between living in West Garden Grove and living in Central Industrial District. So, we’ll split the difference and say that the average rent is $2,200.00 per month.

Therefore, the total estimated cost of living for a four-person family in Garden Grove, California is $5,166.99 per month. This translates into a $62,003.88 annual cost of living.

So, in order to retire in Garden Grove while renting an apartment and abiding by the safe withdrawal rate, you would need $1,550,097.

Cost of Housing in Garden Grove, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Garden Grove?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $599,900.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Garden Grove, California, property taxes are 75.83 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $599,900 home, you won’t have to pay the $2,200.00 per month in rent, but you will have the following expenses:

  • Property taxes: $4,549.04 per year
  • Insurance: $2,519.58 per year
  • Home maintenance: $5,999.00 per year
  • Total: $13,067.62 per year, or $1,088.97 per month

Therefore, your cost of living in $4,055.96 per month, or $48,671.52 per year. If you already own a house outright, then the amount you need to retire will be $1,216,788, and if you need to purchase the 0 home, then you will need $1,816,688.

All of these retirement planning numbers are estimates. If you live in West Garden Grove versus Central Industrial District, your numbers will vary. If you eat at Round Table Pizza every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Garden Grove.

Need help saving for retirement? You can find a financial planner in Garden Grove to get you started on that path.

Pembroke Pines, Florida

August in Florida is God’s way of reminding us who’s in charge.

–Blaize Clement

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Pembroke Pines, Florida?

Cost of Living in Pembroke Pines, Florida

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,991.84 per month. Rent in a 3-bedroom apartment in the city center is $2,500.00 per month, and rent outside the city center is $2,416.67. That’s probably the difference between living in Arbor Green and living in Chapel Cove. So, we’ll split the difference and say that the average rent is $2,458.34 per month.

Therefore, the total estimated cost of living for a four-person family in Pembroke Pines, Florida is $5,450.18 per month. This translates into a $65,402.10 annual cost of living.

So, in order to retire in Pembroke Pines while renting an apartment and abiding by the safe withdrawal rate, you would need $1,635,053.

Cost of Housing in Pembroke Pines, Florida

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Pembroke Pines?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $290,000.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Pembroke Pines, Florida, property taxes are 93.34 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $290,000 home, you won’t have to pay the $2,458.34 per month in rent, but you will have the following expenses:

  • Property taxes: $2,706.86 per year
  • Insurance: $1,218.00 per year
  • Home maintenance: $2,900.00 per year
  • Total: $6,824.86 per year, or $568.74 per month

Therefore, your cost of living in $3,560.58 per month, or $42,726.96 per year. If you already own a house outright, then the amount you need to retire will be $1,068,174, and if you need to purchase the 0 home, then you will need $1,358,174.

All of these retirement planning numbers are estimates. If you live in Arbor Green versus Chapel Cove, your numbers will vary. If you eat at Brimstone Woodfire Grill every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Pembroke Pines.

Need help saving for retirement? You can find a financial planner in Pembroke Pines to get you started on that path.

Peoria, Arizona

If you thrill to vivid beauty

Go where the world was drawn;

At dawn watch the glowing palette

God wiped His brushes on.

~Grace Shattuck Bail, “Painted Desert,” in Arizona Highways, August 1968 (Source)

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Peoria, Arizona?

Cost of Living in Peoria, Arizona

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,800.01 per month. Rent in a 3-bedroom apartment in the city center is $1,396.67 per month, and rent outside the city center is $1,217.50. That’s probably the difference between living in Cibola Vista and living in Old Town Peoria. So, we’ll split the difference and say that the average rent is $1,307.09 per month.

Therefore, the total estimated cost of living for a four-person family in Peoria, Arizona is $4,107.10 per month. This translates into a $49,285.14 annual cost of living.

So, in order to retire in Peoria while renting an apartment and abiding by the safe withdrawal rate, you would need $1,232,129.

Cost of Housing in Peoria, Arizona

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Peoria?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $329,900.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Peoria, Arizona, property taxes are 77.33 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $329,900 home, you won’t have to pay the $1,307.09 per month in rent, but you will have the following expenses:

  • Property taxes: $2,551.12 per year
  • Insurance: $1,385.58 per year
  • Home maintenance: $3,299.00 per year
  • Total: $7,235.70 per year, or $602.97 per month

Therefore, your cost of living in $3,402.98 per month, or $40,835.76 per year. If you already own a house outright, then the amount you need to retire will be $1,020,894, and if you need to purchase the 0 home, then you will need $1,350,794.

All of these retirement planning numbers are estimates. If you live in Cibola Vista versus Old Town Peoria, your numbers will vary. If you eat at Serra Gaucha every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Peoria.

Need help saving for retirement? You can find a financial planner in Peoria to get you started on that path.

Eugene, Oregon

Nobody embodies the Eugene counterculture quirkiness and crunchiness quite like Frog—the friendliest, funniest guy in Eugene, possibly (probably) the world.
–Sam T. Bertken (Source)

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Eugene, Oregon?

Cost of Living in Eugene, Oregon

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,988.04 per month. Rent in a 3-bedroom apartment in the city center is $1,682.80 per month, and rent outside the city center is $1,467.86. That’s probably the difference between living in Bethel-Danebo and living in Harlow. So, we’ll split the difference and say that the average rent is $1,575.33 per month.

Therefore, the total estimated cost of living for a four-person family in Eugene, Oregon is $4,563.37 per month. This translates into a $54,760.44 annual cost of living.

So, in order to retire in Eugene while renting an apartment and abiding by the safe withdrawal rate, you would need $1,369,011.

Cost of Housing in Eugene, Oregon

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Eugene?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $325,000.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Eugene, Oregon, property taxes are 100.06 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $325,000 home, you won’t have to pay the $1,575.33 per month in rent, but you will have the following expenses:

  • Property taxes: $3,251.95 per year
  • Insurance: $1,365.00 per year
  • Home maintenance: $3,250.00 per year
  • Total: $7,866.95 per year, or $655.58 per month

Therefore, your cost of living in $3,643.62 per month, or $43,723.44 per year. If you already own a house outright, then the amount you need to retire will be $1,093,086, and if you need to purchase the 0 home, then you will need $1,418,086.

All of these retirement planning numbers are estimates. If you live in Bethel-Danebo versus Harlow, your numbers will vary. If you eat at Oregon Electric Station every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Eugene.

Need help saving for retirement? You can find a financial planner in Eugene to get you started on that path.

Corona, California

Hey, I didn’t make a big deal out of Hotel California. The 18 million people that bought it did.

–Glenn Frey

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Corona, California?

Cost of Living in Corona, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,710.46 per month. Rent in a 3-bedroom apartment in the city center is $2,300.00 per month, and rent outside the city center is $1,850.00. That’s probably the difference between living in Brentridge and living in Corona Hills. So, we’ll split the difference and say that the average rent is $2,075.00 per month.

Therefore, the total estimated cost of living for a four-person family in Corona, California is $5,785.46 per month. This translates into a $69,425.52 annual cost of living.

So, in order to retire in Corona while renting an apartment and abiding by the safe withdrawal rate, you would need $1,735,638.

Cost of Housing in Corona, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Corona?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $499,000.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Corona, California, property taxes are 110.03 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $499,000 home, you won’t have to pay the $2,075.00 per month in rent, but you will have the following expenses:

  • Property taxes: $5,490.50 per year
  • Insurance: $2,095.80 per year
  • Home maintenance: $4,990.00 per year
  • Total: $12,576.30 per year, or $1,048.02 per month

Therefore, your cost of living in $4,758.48 per month, or $57,101.76 per year. If you already own a house outright, then the amount you need to retire will be $1,427,544, and if you need to purchase the 0 home, then you will need $1,926,544.

All of these retirement planning numbers are estimates. If you live in Brentridge versus Corona Hills, your numbers will vary. If you eat at TAPS Fish House every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Corona.

Need help saving for retirement? You can find a financial planner in Corona to get you started on that path.

Cary, North Carolina

You know, if you really want to fiddle the old-time way, you’ve got to learn the dance. The contra-dances, hoedowns. It’s all in the rhythm of the bow. The great North Carolina fiddle player Tommy Jarrell said, ‘If a feller can’t bow, he’ll never make a fiddler. He might make a violin player, but he’ll never make no fiddler.’
–Alison Krauss

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Cary, North Carolina?

Cost of Living in Cary, North Carolina

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,709.32 per month. Rent in a 3-bedroom apartment in the city center is $1,516.67 per month, and rent outside the city center is $1,266.67. That’s probably the difference between living in MacGregor Downs and living in Glennaire. So, we’ll split the difference and say that the average rent is $1,391.67 per month.

Therefore, the total estimated cost of living for a four-person family in Cary, North Carolina is $4,100.99 per month. This translates into a $49,211.88 annual cost of living.

So, in order to retire in Cary while renting an apartment and abiding by the safe withdrawal rate, you would need $1,230,297.

Cost of Housing in Cary, North Carolina

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Cary?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $409,900.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Cary, North Carolina, property taxes are 101.31 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $409,900 home, you won’t have to pay the $1,391.67 per month in rent, but you will have the following expenses:

  • Property taxes: $4,152.70 per year
  • Insurance: $1,721.58 per year
  • Home maintenance: $4,099.00 per year
  • Total: $9,973.28 per year, or $831.11 per month

Therefore, your cost of living in $3,540.43 per month, or $42,485.16 per year. If you already own a house outright, then the amount you need to retire will be $1,062,129, and if you need to purchase the 0 home, then you will need $1,472,029.

All of these retirement planning numbers are estimates. If you live in MacGregor Downs versus Glennaire, your numbers will vary. If you eat at Minerva’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Cary.

Need help saving for retirement? You can find a financial planner in Cary to get you started on that path.

Springfield, Missouri

In Missouri, where I come from, we don’t talk about what we do – we just do it. If we talk about it, it’s seen as bragging.
–Brad Pitt

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Springfield, Missouri?

Cost of Living in Springfield, Missouri

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,777.02 per month. Rent in a 3-bedroom apartment in the city center is $974.17 per month, and rent outside the city center is $766.67. That’s probably the difference between living in Sequiota and living in Bissett. So, we’ll split the difference and say that the average rent is $870.42 per month.

Therefore, the total estimated cost of living for a four-person family in Springfield, Missouri is $3,647.44 per month. This translates into a $43,769.28 annual cost of living.

So, in order to retire in Springfield while renting an apartment and abiding by the safe withdrawal rate, you would need $1,094,232.

Cost of Housing in Springfield, Missouri

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Springfield?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $144,900.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Springfield, Missouri, property taxes are 84.08 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $144,900 home, you won’t have to pay the $870.42 per month in rent, but you will have the following expenses:

  • Property taxes: $1,218.32 per year
  • Insurance: $608.58 per year
  • Home maintenance: $1,449.00 per year
  • Total: $3,275.90 per year, or $272.99 per month

Therefore, your cost of living in $3,050.01 per month, or $36,600.12 per year. If you already own a house outright, then the amount you need to retire will be $915,003, and if you need to purchase the 0 home, then you will need $1,059,903.

All of these retirement planning numbers are estimates. If you live in Sequiota versus Bissett, your numbers will vary. If you eat at Gilardi’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Springfield.

Need help saving for retirement? You can find a financial planner in Springfield to get you started on that path.

Fort Collins, Colorado

Who knows? Maybe years from now I’ll be on a ranch in Colorado with 10 kids. The whole point of life is to experience a little bit of everything, and I think it’s better when there are a few surprises thrown in.
–Keri Russell

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Fort Collins, Colorado?

Cost of Living in Fort Collins, Colorado

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,043.93 per month. Rent in a 3-bedroom apartment in the city center is $2,191.67 per month, and rent outside the city center is $1,866.67. That’s probably the difference between living in Rams Village and living in Old Town West. So, we’ll split the difference and say that the average rent is $2,029.17 per month.

Therefore, the total estimated cost of living for a four-person family in Fort Collins, Colorado is $5,073.10 per month. This translates into a $60,877.20 annual cost of living.

So, in order to retire in Fort Collins while renting an apartment and abiding by the safe withdrawal rate, you would need $1,521,930.

Cost of Housing in Fort Collins, Colorado

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Fort Collins?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $425,000.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Fort Collins, Colorado, property taxes are 49.02 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $425,000 home, you won’t have to pay the $2,029.17 per month in rent, but you will have the following expenses:

  • Property taxes: $2,083.35 per year
  • Insurance: $1,785.00 per year
  • Home maintenance: $4,250.00 per year
  • Total: $8,118.35 per year, or $676.53 per month

Therefore, your cost of living in $3,720.46 per month, or $44,645.52 per year. If you already own a house outright, then the amount you need to retire will be $1,116,138, and if you need to purchase the 0 home, then you will need $1,541,138.

All of these retirement planning numbers are estimates. If you live in Rams Village versus Old Town West, your numbers will vary. If you eat at RARE Italian every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Fort Collins.

Need help saving for retirement? You can find a financial planner in Fort Collins to get you started on that path.

Jackson, Mississippi

And Miss Skeeter asking don’t I want to change things, like changing Jackson, Mississippi, gone be like changing a lightbulb.
The Help

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Jackson, Mississippi?

Cost of Living in Jackson, Mississippi

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,020.15 per month. Rent in a 3-bedroom apartment in the city center is $1,241.67 per month, and rent outside the city center is $1,300.00. That’s probably the difference between living in Fondren and living in Eastover. So, we’ll split the difference and say that the average rent is $1,270.84 per month.

Therefore, the total estimated cost of living for a four-person family in Jackson, Mississippi is $4,290.99 per month. This translates into a $51,491.82 annual cost of living.

So, in order to retire in Jackson while renting an apartment and abiding by the safe withdrawal rate, you would need $1,287,296.

Cost of Housing in Jackson, Mississippi

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Jackson?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $116,950.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Jackson, Mississippi, property taxes are 76.99 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $116,950 home, you won’t have to pay the $1,270.84 per month in rent, but you will have the following expenses:

  • Property taxes: $900.40 per year
  • Insurance: $491.19 per year
  • Home maintenance: $1,169.50 per year
  • Total: $2,561.09 per year, or $213.42 per month

Therefore, your cost of living in $3,233.57 per month, or $38,802.84 per year. If you already own a house outright, then the amount you need to retire will be $970,071, and if you need to purchase the 0 home, then you will need $1,087,021.

All of these retirement planning numbers are estimates. If you live in Fondren versus Eastover, your numbers will vary. If you eat at Crechale’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Jackson.

Need help saving for retirement? You can find a financial planner in Jackson to get you started on that path.

Alexandria, Virginia

I’ve been doing the ‘Sherman’s Lagoon’ strip for about 18 years, and I was a political cartoonist before that for my hometown paper in Alexandria, Va.
–Jim Toomey

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Alexandria, Virginia?

Cost of Living in Alexandria, Virginia

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,270.54 per month. Rent in a 3-bedroom apartment in the city center is $3,118.75 per month, and rent outside the city center is $2,369.56. That’s probably the difference between living in Old Town and living in Westover. So, we’ll split the difference and say that the average rent is $2,744.16 per month.

Therefore, the total estimated cost of living for a four-person family in Alexandria, Virginia is $6,014.70 per month. This translates into a $72,176.34 annual cost of living.

So, in order to retire in Alexandria while renting an apartment and abiding by the safe withdrawal rate, you would need $1,804,409.

Cost of Housing in Alexandria, Virginia

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Alexandria?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $489,800.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Alexandria, Virginia, property taxes are 71.32 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $489,800 home, you won’t have to pay the $2,744.16 per month in rent, but you will have the following expenses:

  • Property taxes: $3,493.25 per year
  • Insurance: $2,057.16 per year
  • Home maintenance: $4,898.00 per year
  • Total: $10,448.41 per year, or $870.70 per month

Therefore, your cost of living in $4,141.24 per month, or $49,694.88 per year. If you already own a house outright, then the amount you need to retire will be $1,242,372, and if you need to purchase the 0 home, then you will need $1,732,172.

All of these retirement planning numbers are estimates. If you live in Old Town versus Westover, your numbers will vary. If you eat at Chart House every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Alexandria.

Need help saving for retirement? You can find a financial planner in Alexandria to get you started on that path.

Hayward, California

When I came to California, it was the mecca of the world. Every young person on the planet wanted to be here.

–Joni Mitchell

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Hayward, California?

Cost of Living in Hayward, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,457.95 per month. Rent in a 3-bedroom apartment in the city center is $5,333.33 per month, and rent outside the city center is $4,333.33. That’s probably the difference between living in Eden Shores and living in Southgate. So, we’ll split the difference and say that the average rent is $4,833.33 per month.

Therefore, the total estimated cost of living for a four-person family in Hayward, California is $8,291.28 per month. This translates into a $99,495.36 annual cost of living.

So, in order to retire in Hayward while renting an apartment and abiding by the safe withdrawal rate, you would need $2,487,384.

Cost of Housing in Hayward, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Hayward?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $692,495.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Hayward, California, property taxes are 89.8 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $692,495 home, you won’t have to pay the $4,833.33 per month in rent, but you will have the following expenses:

  • Property taxes: $6,218.61 per year
  • Insurance: $2,908.48 per year
  • Home maintenance: $6,924.95 per year
  • Total: $16,052.04 per year, or $1,337.67 per month

Therefore, your cost of living in $4,795.62 per month, or $57,547.44 per year. If you already own a house outright, then the amount you need to retire will be $1,438,686, and if you need to purchase the 0 home, then you will need $2,131,181.

All of these retirement planning numbers are estimates. If you live in Eden Shores versus Southgate, your numbers will vary. If you eat at Neumanali every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Hayward.

Need help saving for retirement? You can find a financial planner in Hayward to get you started on that path.

Lancaster, California

I was born in Africa. I came to California because it’s really where new technologies can be brought to fruition, and I don’t see a viable competitor.

–Elon Musk

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Lancaster, California?

Cost of Living in Lancaster, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,078.39 per month. Rent in a 3-bedroom apartment in the city center is $1,715.00 per month, and rent outside the city center is $1,620.00. That’s probably the difference between living in Antelope Acres and living in Oban. So, we’ll split the difference and say that the average rent is $1,667.50 per month.

Therefore, the total estimated cost of living for a four-person family in Lancaster, California is $4,745.89 per month. This translates into a $56,950.68 annual cost of living.

So, in order to retire in Lancaster while renting an apartment and abiding by the safe withdrawal rate, you would need $1,423,767.

Cost of Housing in Lancaster, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Lancaster?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $289,990.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Lancaster, California, property taxes are 79.86 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $289,990 home, you won’t have to pay the $1,667.50 per month in rent, but you will have the following expenses:

  • Property taxes: $2,315.86 per year
  • Insurance: $1,217.96 per year
  • Home maintenance: $2,899.90 per year
  • Total: $6,433.72 per year, or $536.14 per month

Therefore, your cost of living in $3,614.53 per month, or $43,374.36 per year. If you already own a house outright, then the amount you need to retire will be $1,084,359, and if you need to purchase the 0 home, then you will need $1,374,349.

All of these retirement planning numbers are estimates. If you live in Antelope Acres versus Oban, your numbers will vary. If you eat at Broken Bit Steakhouse every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Lancaster.

Need help saving for retirement? You can find a financial planner in Lancaster to get you started on that path.

Clarksville, Tennessee

Dolly Parton made me chicken and dumplings. That Tennessee woman can burn some pots! And we know that I am not necessarily shy to a fork!
–Queen Latifah

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Clarksville, Tennessee?

Cost of Living in Clarksville, Tennessee

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,625.16 per month. Rent in a 3-bedroom apartment in the city center is $1,133.33 per month, and rent outside the city center is $1,166.67. That’s probably the difference between living in Saint Bethlehem and living in Wingate West. So, we’ll split the difference and say that the average rent is $1,150.00 per month.

Therefore, the total estimated cost of living for a four-person family in Clarksville, Tennessee is $3,775.16 per month. This translates into a $45,301.92 annual cost of living.

So, in order to retire in Clarksville while renting an apartment and abiding by the safe withdrawal rate, you would need $1,132,548.

Cost of Housing in Clarksville, Tennessee

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Clarksville?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $225,000.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Clarksville, Tennessee, property taxes are 64.89 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $225,000 home, you won’t have to pay the $1,150.00 per month in rent, but you will have the following expenses:

  • Property taxes: $146.00 per year
  • Insurance: $945.00 per year
  • Home maintenance: $2,250.00 per year
  • Total: $3,341.00 per year, or $278.42 per month

Therefore, your cost of living in Clarksville, Tennessee, if you own a home will be $2,903.58 per month, or $34,842.92 per year. If you already own a house outright, then the amount you need to retire will be $871,073, and if you need to purchase the $225,000 home, then you will need $1,096,073.

All of these retirement planning numbers are estimates. If you live in Saint Bethlehem versus Wingate West, your numbers will vary. If you eat at Woody’s Pizza every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Clarksville.

Need help saving for retirement? You can find a financial planner in Clarksville to get you started on that path.

Cost of Housing in Clarksville, Tennessee

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Clarksville?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $225,000.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Clarksville, Tennessee, property taxes are 64.89 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $225,000 home, you won’t have to pay the $1,150.00 per month in rent, but you will have the following expenses:

  • Property taxes: $1,460.03 per year
  • Insurance: $945.00 per year
  • Home maintenance: $2,250.00 per year
  • Total: $4,655.03 per year, or $387.92 per month

Therefore, your cost of living in $3,013.08 per month, or $36,156.96 per year. If you already own a house outright, then the amount you need to retire will be $903,924, and if you need to purchase the 0 home, then you will need $1,128,924.

All of these retirement planning numbers are estimates. If you live in Saint Bethlehem versus Wingate West, your numbers will vary. If you eat at Woody’s Pizza every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Clarksville.

Need help saving for retirement? You can find a financial planner in Clarksville to get you started on that path.

Palmdale, California

In California, they don’t throw their garbage away – they make it into TV shows.

–Woody Allen

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Palmdale, California?

Cost of Living in Palmdale, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,270.18 per month. Rent in a 3-bedroom apartment in the city center is $1,673.33 per month, and rent outside the city center is $1,416.67. That’s probably the difference between living in Rancho Vista and living in Pearland. So, we’ll split the difference and say that the average rent is $1,545.00 per month.

Therefore, the total estimated cost of living for a four-person family in Palmdale, California is $4,815.18 per month. This translates into a $57,782.16 annual cost of living.

So, in order to retire in Palmdale while renting an apartment and abiding by the safe withdrawal rate, you would need $1,444,554.

Cost of Housing in Palmdale, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Palmdale?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $324,950.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Palmdale, California, property taxes are 79.86 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $324,950 home, you won’t have to pay the $1,545.00 per month in rent, but you will have the following expenses:

  • Property taxes: $2,595.05 per year
  • Insurance: $1,364.79 per year
  • Home maintenance: $3,249.50 per year
  • Total: $7,209.34 per year, or $600.78 per month

Therefore, your cost of living in $3,870.96 per month, or $46,451.52 per year. If you already own a house outright, then the amount you need to retire will be $1,161,288, and if you need to purchase the 0 home, then you will need $1,486,238.

All of these retirement planning numbers are estimates. If you live in Rancho Vista versus Pearland, your numbers will vary. If you eat at Harbour Japanese Steakhouse every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Palmdale.

Need help saving for retirement? You can find a financial planner in Palmdale to get you started on that path.

Springfield, Massachusetts

“You’ll miss the best things if you keep your eyes shut.”
-Dr. Seuss

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Springfield, Massachusetts?

Cost of Living in Springfield, Massachusetts

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,436.77 per month. Rent in a 3-bedroom apartment in the city center is $1,166.67 per month, and rent outside the city center is $1,091.67. That’s probably the difference between living in Sixteen Acres and living in Atwater Park. So, we’ll split the difference and say that the average rent is $1,129.17 per month.

Therefore, the total estimated cost of living for a four-person family in Springfield, Massachusetts is $4,565.94 per month. This translates into a $54,791.28 annual cost of living.

So, in order to retire in Springfield while renting an apartment and abiding by the safe withdrawal rate, you would need $1,369,782.

Cost of Housing in Springfield, Massachusetts

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Springfield?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $155,000.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Springfield, Massachusetts, property taxes are 156.8 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $155,000 home, you won’t have to pay the $1,129.17 per month in rent, but you will have the following expenses:

  • Property taxes: $2,430.40 per year
  • Insurance: $651.00 per year
  • Home maintenance: $1,550.00 per year
  • Total: $4,631.40 per year, or $385.95 per month

Therefore, your cost of living in $3,822.72 per month, or $45,872.64 per year. If you already own a house outright, then the amount you need to retire will be $1,146,816, and if you need to purchase the 0 home, then you will need $1,301,816.

All of these retirement planning numbers are estimates. If you live in Sixteen Acres versus Atwater Park, your numbers will vary. If you eat at Lattitude every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Springfield.

Need help saving for retirement? You can find a financial planner in Springfield to get you started on that path.

Hollywood, Florida

My parents didn’t want to move to Florida, but they turned sixty and that’s the law.

–Jerry Seinfeld

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Hollywood, Florida?

Cost of Living in Hollywood, Florida

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,282.78 per month. Rent in a 3-bedroom apartment in the city center is $2,514.22 per month, and rent outside the city center is $2,136.50. That’s probably the difference between living in Hollywood Beach and living in Hollywood Hills. So, we’ll split the difference and say that the average rent is $2,325.36 per month.

Therefore, the total estimated cost of living for a four-person family in Hollywood, Florida is $5,608.14 per month. This translates into a $67,297.68 annual cost of living.

So, in order to retire in Hollywood while renting an apartment and abiding by the safe withdrawal rate, you would need $1,682,442.

Cost of Housing in Hollywood, Florida

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Hollywood?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $325,000.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Hollywood, Florida, property taxes are 93.34 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $325,000 home, you won’t have to pay the $2,325.36 per month in rent, but you will have the following expenses:

  • Property taxes: $3,033.55 per year
  • Insurance: $1,365.00 per year
  • Home maintenance: $3,250.00 per year
  • Total: $7,648.55 per year, or $637.38 per month

Therefore, your cost of living in $3,920.16 per month, or $47,041.92 per year. If you already own a house outright, then the amount you need to retire will be $1,176,048, and if you need to purchase the 0 home, then you will need $1,501,048.

All of these retirement planning numbers are estimates. If you live in Hollywood Beach versus Hollywood Hills, your numbers will vary. If you eat at Diplomat Prime every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Hollywood.

Need help saving for retirement? You can find a financial planner in Hollywood to get you started on that path.

Sunnyvale, California

If you are in Mountain View, you don’t resonate with the needs of urban dwellers. Tumblr couldn’t have emerged in Sunnyvale.
–Roelof Botha

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Sunnyvale, California?

Cost of Living in Sunnyvale, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,471.17 per month. Rent in a 3-bedroom apartment in the city center is $4,312.50 per month, and rent outside the city center is $3,510.00. That’s probably the difference between living in Gavello Glen and living in Morse Park. So, we’ll split the difference and say that the average rent is $3,911.25 per month.

Therefore, the total estimated cost of living for a four-person family in Sunnyvale, California is $7,382.42 per month. This translates into a $88,589.04 annual cost of living.

So, in order to retire in Sunnyvale while renting an apartment and abiding by the safe withdrawal rate, you would need $2,214,726.

Cost of Housing in Sunnyvale, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Sunnyvale?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $1,498,500.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Sunnyvale, California, property taxes are 79.86 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $1,498,500 home, you won’t have to pay the $3,911.25 per month in rent, but you will have the following expenses:

  • Property taxes: $11,967.02 per year
  • Insurance: $6,293.70 per year
  • Home maintenance: $14,985.00 per year
  • Total: $33,245.72 per year, or $2,770.48 per month

Therefore, your cost of living in $6,241.65 per month, or $74,899.80 per year. If you already own a house outright, then the amount you need to retire will be $1,872,495, and if you need to purchase the 0 home, then you will need $3,370,995.

All of these retirement planning numbers are estimates. If you live in Gavello Glen versus Morse Park, your numbers will vary. If you eat at Rok Bistro every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Sunnyvale.

Need help saving for retirement? You can find a financial planner in Sunnyvale to get you started on that path.

Macon, Georgia

Macon has such a rich musical history – and the state of Georgia, as well.
–Jason Aldean

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Macon, Georgia?

Cost of Living in Macon, Georgia

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,658.59 per month. Rent in a 3-bedroom apartment in the city center is $1,950.00 per month, and rent outside the city center is $1,500.00. That’s probably the difference between living in Briarwood Hill and living in Duresville. So, we’ll split the difference and say that the average rent is $1,725.00 per month.

Therefore, the total estimated cost of living for a four-person family in Macon, Georgia is $4,383.59 per month. This translates into a $52,603.08 annual cost of living.

So, in order to retire in Macon while renting an apartment and abiding by the safe withdrawal rate, you would need $1,315,077.

Cost of Housing in Macon, Georgia

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Macon?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $129,900.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Macon, Georgia, property taxes are 98.82 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $129,900 home, you won’t have to pay the $1,725.00 per month in rent, but you will have the following expenses:

  • Property taxes: $1,283.67 per year
  • Insurance: $545.58 per year
  • Home maintenance: $1,299.00 per year
  • Total: $3,128.25 per year, or $260.69 per month

Therefore, your cost of living in $2,919.28 per month, or $35,031.36 per year. If you already own a house outright, then the amount you need to retire will be $875,784, and if you need to purchase the 0 home, then you will need $1,005,684.

All of these retirement planning numbers are estimates. If you live in Briarwood Hill versus Duresville, your numbers will vary. If you eat at Dovetail every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Macon.

Need help saving for retirement? You can find a financial planner in Macon to get you started on that path.

Pomona, California

When I was a kid, I always wanted to live in California because I liked skateboarding.

–Demetri Martin

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Pomona, California?

Cost of Living in Pomona, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,487.15 per month. Rent in a 3-bedroom apartment in the city center is $2,266.67 per month, and rent outside the city center is $2,200.00. That’s probably the difference between living in Spadra and living in Phillips Ranch. So, we’ll split the difference and say that the average rent is $2,233.34 per month.

Therefore, the total estimated cost of living for a four-person family in Pomona, California is $4,720.49 per month. This translates into a $56,645.82 annual cost of living.

So, in order to retire in Pomona while renting an apartment and abiding by the safe withdrawal rate, you would need $1,416,146.

Cost of Housing in Pomona, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Pomona?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $447,500.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Pomona, California, property taxes are 79.86 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $447,500 home, you won’t have to pay the $2,233.34 per month in rent, but you will have the following expenses:

  • Property taxes: $3,573.74 per year
  • Insurance: $1,879.50 per year
  • Home maintenance: $4,475.00 per year
  • Total: $9,928.24 per year, or $827.35 per month

Therefore, your cost of living in $3,314.50 per month, or $39,774.00 per year. If you already own a house outright, then the amount you need to retire will be $994,350, and if you need to purchase the 0 home, then you will need $1,441,850.

All of these retirement planning numbers are estimates. If you live in Spadra versus Phillips Ranch, your numbers will vary. If you eat at Pomona Valley Mining Co every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Pomona.

Need help saving for retirement? You can find a financial planner in Pomona to get you started on that path.

Killeen, Texas

Texas is a blend of valor and swagger.

–Carl Sandburg

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. How much you need to retire depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to retire is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Killeen, Texas?

Cost of Living in Killeen, Texas

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,373.69 per month. Rent in a 3-bedroom apartment in the city center is $915.00 per month, and rent outside the city center is $922.50. That’s probably the difference between living in Westcliff and living in Rancier. So, we’ll split the difference and say that the average rent is $918.75 per month.

Therefore, the total estimated cost of living for a four-person family in Killeen, Texas is $3,292.44 per month. This translates into a $39,509.28 annual cost of living.

So, in order to retire in Killeen while renting an apartment and abiding by the safe withdrawal rate, you would need $987,732.

Cost of Housing in Killeen, Texas

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Killeen?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $150,000.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Killeen, Texas, property taxes are 138.12 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $150,000 home, you won’t have to pay the $918.75 per month in rent, but you will have the following expenses:

  • Property taxes: $2,071.80 per year
  • Insurance: $630.00 per year
  • Home maintenance: $1,500.00 per year
  • Total: $4,201.80 per year, or $350.15 per month

Therefore, your cost of living in $2,723.84 per month, or $32,686.08 per year. If you already own a house outright, then the amount you need to retire will be $817,152, and if you need to purchase the 0 home, then you will need $967,152.

All of these numbers are estimates. If you live in Westcliff versus Rancier, your numbers will vary. If you eat at Elmore’s Fish & Wings every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Killeen.

Need help getting there? You can find a financial planner in Killeen to get you started on that path.

Naperville, Illinois

We all make mistakes. But I’m lucky. Being from Illinois and from the Midwest, we believe in pretty basic fairness. Once you’ve made a mistake, get up, dust yourself off, and go to work.
–Dick Durbin

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. How much you need to retire depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to retire is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Naperville, Illinois?

Cost of Living in Naperville, Illinois

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,459.09 per month. Rent in a 3-bedroom apartment in the city center is $2,450.00 per month, and rent outside the city center is $2,000.00. That’s probably the difference between living in Aero Estates and living in Rivermist. So, we’ll split the difference and say that the average rent is $2,225.00 per month.

Therefore, the total estimated cost of living for a four-person family in Naperville, Illinois is $5,684.09 per month. This translates into a $68,209.08 annual cost of living.

So, in order to retire in Naperville while renting an apartment and abiding by the safe withdrawal rate, you would need $1,705,227.

Cost of Housing in Naperville, Illinois

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Naperville?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $438,500.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Naperville, Illinois, property taxes are 189.1 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $438,500 home, you won’t have to pay the $2,225.00 per month in rent, but you will have the following expenses:

  • Property taxes: $8,292.04 per year
  • Insurance: $1,841.70 per year
  • Home maintenance: $4,385.00 per year
  • Total: $14,518.74 per year, or $1,209.89 per month

Therefore, your cost of living in $4,668.98 per month, or $56,027.76 per year. If you already own a house outright, then the amount you need to retire will be $1,400,694, and if you need to purchase the 0 home, then you will need $1,839,194.

All of these numbers are estimates. If you live in Aero Estates versus Rivermist, your numbers will vary. If you eat at Catch 35 every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Naperville.

Need help getting there? You can find a financial planner in Naperville to get you started on that path.

Bellevue, Washington

I’m proud to be able to represent Bellevue and the Offutt and StratCom communities.
–Jeff Fortenberry

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. How much you need to retire depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to retire is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Bellevue, Washington?

Cost of Living in Bellevue, Washington

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,686.82 per month. Rent in a 3-bedroom apartment in the city center is $3,327.78 per month, and rent outside the city center is $2,485.00. That’s probably the difference between living in Factoria and living in Cougar Hills. So, we’ll split the difference and say that the average rent is $2,906.39 per month.

Therefore, the total estimated cost of living for a four-person family in Bellevue, Washington is $6,593.21 per month. This translates into a $79,118.52 annual cost of living.

So, in order to retire in Bellevue while renting an apartment and abiding by the safe withdrawal rate, you would need $1,977,963.

Cost of Housing in Bellevue, Washington

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Bellevue?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $950,000.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Bellevue, Washington, property taxes are 97.08 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $950,000 home, you won’t have to pay the $2,906.39 per month in rent, but you will have the following expenses:

  • Property taxes: $9,222.60 per year
  • Insurance: $3,990.00 per year
  • Home maintenance: $9,500.00 per year
  • Total: $22,712.60 per year, or $1,892.72 per month

Therefore, your cost of living in $5,579.54 per month, or $66,954.48 per year. If you already own a house outright, then the amount you need to retire will be $1,673,862, and if you need to purchase the 0 home, then you will need $2,623,862.

All of these numbers are estimates. If you live in Factoria versus Cougar Hills, your numbers will vary. If you eat at Carmine’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Bellevue.

Need help getting there? You can find a financial planner in Bellevue to get you started on that path.

Rockford, Illinois

Ray Kroc called his first McDonald’s restaurant, which he opened in Illinois, ‘a little money machine.’ That’s why thousands of franchisees bought it.
–Michael Gerber

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. How much you need to retire depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to retire is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Rockford, Illinois?

Cost of Living in Rockford, Illinois

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,986.69 per month. Rent in a 3-bedroom apartment in the city center is $925.00 per month, and rent outside the city center is $1,050.00. That’s probably the difference between living in Winnebago Court and living in Valley View. So, we’ll split the difference and say that the average rent is $987.50 per month.

Therefore, the total estimated cost of living for a four-person family in Rockford, Illinois is $3,974.19 per month. This translates into a $47,690.28 annual cost of living.

So, in order to retire in Rockford while renting an apartment and abiding by the safe withdrawal rate, you would need $1,192,257.

Cost of Housing in Rockford, Illinois

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Rockford?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $92,000.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Rockford, Illinois, property taxes are 189.1 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $92,000 home, you won’t have to pay the $987.50 per month in rent, but you will have the following expenses:

  • Property taxes: $1,739.72 per year
  • Insurance: $386.40 per year
  • Home maintenance: $920.00 per year
  • Total: $3,046.12 per year, or $253.84 per month

Therefore, your cost of living in $3,240.53 per month, or $38,886.36 per year. If you already own a house outright, then the amount you need to retire will be $972,159, and if you need to purchase the 0 home, then you will need $1,064,159.

All of these numbers are estimates. If you live in Winnebago Court versus Valley View, your numbers will vary. If you eat at Franchesco’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Rockford.

Need help getting there? You can find a financial planner in Rockford to get you started on that path.

Savannah, Georgia

Savannah is amazing with the town squares and the hanging moss and the French Colonial houses. It’s brutally romantic.

–David Morrissey

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. How much you need to retire depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to retire is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Savannah, Georgia?

Cost of Living in Savannah, Georgia

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,950.05 per month. Rent in a 3-bedroom apartment in the city center is $1,837.50 per month, and rent outside the city center is $1,216.67. That’s probably the difference between living in Yamacraw Village and living in Coffee Bluff. So, we’ll split the difference and say that the average rent is $1,527.09 per month.

Therefore, the total estimated cost of living for a four-person family in Savannah, Georgia is $4,477.14 per month. This translates into a $53,725.62 annual cost of living.

So, in order to retire in Savannah while renting an apartment and abiding by the safe withdrawal rate, you would need $1,343,141.

Cost of Housing in Savannah, Georgia

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Savannah?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $220,272.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Savannah, Georgia, property taxes are 98.82 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $220,272 home, you won’t have to pay the $1,527.09 per month in rent, but you will have the following expenses:

  • Property taxes: $2,176.73 per year
  • Insurance: $925.14 per year
  • Home maintenance: $2,202.72 per year
  • Total: $5,304.59 per year, or $442.05 per month

Therefore, your cost of living in $3,392.10 per month, or $40,705.20 per year. If you already own a house outright, then the amount you need to retire will be $1,017,630, and if you need to purchase the 0 home, then you will need $1,237,902.

All of these numbers are estimates. If you live in Yamacraw Village versus Coffee Bluff, your numbers will vary. If you eat at Alligator Soul every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Savannah.

Need help getting there? You can find a financial planner in Savannah to get you started on that path.

Paterson, New Jersey

“Men give me credit for some genius. All the genius I have lies in this; when I have a subject in hand, I study it profoundly. Day and night it is before me. My mind becomes pervaded with it. Then the effort that I have made is what people are pleased to call the fruit of genius. It is the fruit of labor and thought.”

― Alexander Hamilton

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. Answering the question “how much do I need to retire” depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to save for retirement is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Paterson, New Jersey?

Cost of Living in Paterson, New Jersey

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,130.06 per month. Rent in a 3-bedroom apartment in the city center is $2,150.00 per month, and rent outside the city center is $1,750.00. That’s probably the difference between living in Old Great Falls and living in Historic District. So, we’ll split the difference and say that the average rent is $1,950.00 per month.

Therefore, the total estimated cost of living for a four-person family in Paterson, New Jersey is $5,080.06 per month. This translates into a $60,960.72 annual cost of living.

So, in order to retire in Paterson while renting an apartment and abiding by the safe withdrawal rate, you would need $1,524,018.

Cost of Housing in Paterson, New Jersey

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Paterson?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $239,000.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Paterson, New Jersey, property taxes are 246.71 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $239,000 home, you won’t have to pay the $1,950.00 per month in rent, but you will have the following expenses:

  • Property taxes: $5,896.37 per year
  • Insurance: $1,003.80 per year
  • Home maintenance: $2,390.00 per year
  • Total: $9,290.17 per year, or $774.18 per month

Therefore, your cost of living in $3,904.24 per month, or $46,850.88 per year. If you already own a house outright, then the amount you need to retire will be $1,171,272, and if you need to purchase the 0 home, then you will need $1,410,272.

All of these retirement planning numbers are estimates. If you live in Old Great Falls versus Historic District, your numbers will vary. If you eat at Al Basha every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Paterson.

Need help saving for retirement? You can find a financial planner in Paterson to get you started on that path.

Torrance, California

When I was 16, I moved to Torrance, California to train at a more advanced studio, and by 19, I joined the American Ballet Theatre in New York. It all happened so fast – it was pretty unheard of that someone could train for so few years and become a professional at one of the most elite dance companies in the United States.
–Misty Copeland

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. How much you need to retire depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to retire is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Torrance, California?

Cost of Living in Torrance, California

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $2,815.96 per month. Rent in a 3-bedroom apartment in the city center is $3,375.00 per month, and rent outside the city center is $3,225.00. That’s probably the difference between living in Torrance Beach and living in Delthorne. So, we’ll split the difference and say that the average rent is $3,300.00 per month.

Therefore, the total estimated cost of living for a four-person family in Torrance, California is $6,115.96 per month. This translates into a $73,391.52 annual cost of living.

So, in order to retire in Torrance while renting an apartment and abiding by the safe withdrawal rate, you would need $1,834,788.

Cost of Housing in Torrance, California

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Torrance?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $775,000.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Torrance, California, property taxes are 79.86 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $775,000 home, you won’t have to pay the $3,300.00 per month in rent, but you will have the following expenses:

  • Property taxes: $6,189.15 per year
  • Insurance: $3,255.00 per year
  • Home maintenance: $7,750.00 per year
  • Total: $17,194.15 per year, or $1,432.85 per month

Therefore, your cost of living in $4,248.81 per month, or $50,985.72 per year. If you already own a house outright, then the amount you need to retire will be $1,274,643, and if you need to purchase the 0 home, then you will need $2,049,643.

All of these numbers are estimates. If you live in Torrance Beach versus Delthorne, your numbers will vary. If you eat at Minerva’s every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Torrance.

Need help getting there? You can find a financial planner in Torrance to get you started on that path.

Bridgeport, Connecticut

I come from Bridgeport, Connecticut and have friends I grew up with there.
–John Ratzenberger

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. How much you need to retire depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to retire is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in Bridgeport, Connecticut?

Cost of Living in Bridgeport, Connecticut

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $3,144.90 per month. Rent in a 3-bedroom apartment in the city center is $2,100.00 per month, and rent outside the city center is $2,125.00. That’s probably the difference between living in Newfield and living in Brooklawn. So, we’ll split the difference and say that the average rent is $2,112.50 per month.

Therefore, the total estimated cost of living for a four-person family in Bridgeport, Connecticut is $5,257.40 per month. This translates into a $63,088.80 annual cost of living.

So, in order to retire in Bridgeport while renting an apartment and abiding by the safe withdrawal rate, you would need $1,577,220.

Cost of Housing in Bridgeport, Connecticut

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in Bridgeport?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $186,250.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In Bridgeport, Connecticut, property taxes are 193.25 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $186,250 home, you won’t have to pay the $2,112.50 per month in rent, but you will have the following expenses:

  • Property taxes: $3,599.28 per year
  • Insurance: $782.25 per year
  • Home maintenance: $1,862.50 per year
  • Total: $6,244.03 per year, or $520.34 per month

Therefore, your cost of living in $3,665.24 per month, or $43,982.88 per year. If you already own a house outright, then the amount you need to retire will be $1,099,572, and if you need to purchase the 0 home, then you will need $1,285,822.

All of these numbers are estimates. If you live in Newfield versus Brooklawn, your numbers will vary. If you eat at Joseph’s Steakhouse every night versus cooking at home all of the time, your numbers will vary. However, this should give you an idea of how much you need to be able to retire in Bridgeport.

Need help getting there? You can find a financial planner in Bridgeport to get you started on that path.

McAllen, Texas

Because I grew up in McAllen, we would watch Televisa a lot.
–Cristela Alonzo

The real estate adage that seemingly everyone knows is “location, location, location.” The house in the swanky neighborhood is going to be more expensive than the run-down claptrap fixer-upper in a bad part of town.

The adage also applies in personal finance. How much you need to retire depends on where you’re going to retire. If you want to retire in New York City, it’s going to take a lot more than it would take to retire in Peoria, Illinois.

The methodology we use to determine how much you need to retire is based on the Trinity study from William Bengen, which states that you can spend 4% of your net worth each year in retirement lasting for a 30 year retirement. Research by Michael Kitces and Wade Pfau confirm that the rule is still a reasonable rule of thumb for figuring out how much you need to retire.

So, in this analysis, we will evaluate

  1. How much it costs to live in your city
  2. 25 times that amount to enable you to withdraw at a 4% “safe withdrawal rate

How Much Do I Need to Save to Retire in McAllen, Texas?

Cost of Living in McAllen, Texas

According to the website Numbeo, the cost of living for a four-person family without rent or a mortgage is $1,328.36 per month. Rent in a 3-bedroom apartment in the city center is $1,216.67 per month, and rent outside the city center is $825.00. That’s probably the difference between living in Williams Colonia and living in Heatherwood. So, we’ll split the difference and say that the average rent is $1,020.84 per month.

Therefore, the total estimated cost of living for a four-person family in McAllen, Texas is $2,349.20 per month. This translates into a $28,190.34 annual cost of living.

So, in order to retire in McAllen while renting an apartment and abiding by the safe withdrawal rate, you would need $704,759.

Cost of Housing in McAllen, Texas

Let’s assume that you want your own house and plot of land to let the dog run around in. White picket fences and 2.5 kids is the American dream, after all. How much does an average house cost in McAllen?

According to Zillow, which we use to grow and manage our real estate investments, the median home price for homes that are listed is $216,900.

However, you are going to have to exchange rent for insurance and property taxes, as well as allocating for maintenance and upkeep on your house. In McAllen, Texas, property taxes are 138.12 cents per $100 of value. Insurance is approximately $35 per month for every $100,000 of value. Home maintenance costs approximately 1% of your home value every year.

So, if you’re going to own a $216,900 home, you won’t have to pay the $1,020.84 per month in rent, but you will have the following expenses:

  • Property taxes: $2,995.82 per y