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Retirement Planning in Charles County, MD

What does it take to retire comfortably in Charles County? Here are the numbers.

Median Income

$116,882

Retirement Income (80%)

$93,506

Est. Nest Egg Needed

$1,314,925

Cost of Living Index

180

Retirement Income Analysis

Income Needs (Annual)

Target Income (80% rule)$93,506
Est. Social Security$40,909
Annual Income Gap$52,597

Housing Costs

Median Rent$1,839/mo
Annual Housing$22,068
Property Tax Rate1.1%
Median Home Value$382,800

About Charles County, Maryland

Charles County in Maryland has a median household income of $116,882 and a homeownership rate of 79.8%. Using the 4% rule, retirees in this county would need approximately $1,314,925 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 Maryland

Montgomery CountyPrince George's CountyBaltimore CountyAnne Arundel CountyBaltimore cityHoward CountyFrederick CountyHarford County

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.