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Retirement Planning in Western Connecticut Planning Region, CT

What does it take to retire comfortably in Western Connecticut Planning Region? Here are the numbers.

Median Income

$118,930

Retirement Income (80%)

$95,144

Est. Nest Egg Needed

$1,337,950

Cost of Living Index

183

Retirement Income Analysis

Income Needs (Annual)

Target Income (80% rule)$95,144
Est. Social Security$41,626
Annual Income Gap$53,518

Housing Costs

Median Rent$1,952/mo
Annual Housing$23,424
Property Tax Rate1.5%
Median Home Value$595,600

About Western Connecticut Planning Region, Connecticut

Western Connecticut Planning Region in Connecticut has a median household income of $118,930 and a homeownership rate of 66.1%. Using the 4% rule, retirees in this county would need approximately $1,337,950 in savings to cover the gap between Social Security and their target retirement income.

These are estimates based on county-level medians. Your actual retirement needs depend on your specific income, expenses, healthcare costs, Social Security benefits, and investment portfolio. Use our calculator for a personalized Monte Carlo analysis.

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Other Counties in Connecticut

Capitol Planning RegionSouth Central Connecticut Planning RegionNaugatuck Valley Planning RegionGreater Bridgeport Planning RegionSoutheastern Connecticut Planning RegionLower Connecticut River Valley Planning RegionNorthwest Hills Planning RegionNortheastern Connecticut Planning Region

County-level data from U.S. Census Bureau American Community Survey (ACS) 2022 5-Year Estimates. Additional sources: SSA, BLS. Estimates based on county-level medians and the 4% withdrawal rule. This is not financial advice.