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Retirement Planning in Alger County, MI

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

Median Income

$55,528

Retirement Income (80%)

$44,422

Est. Nest Egg Needed

$624,675

Cost of Living Index

85

Retirement Income Analysis

Income Needs (Annual)

Target Income (80% rule)$44,422
Est. Social Security$19,435
Annual Income Gap$24,987

Housing Costs

Median Rent$716/mo
Annual Housing$8,592
Property Tax Rate1.0%
Median Home Value$156,500

About Alger County, Michigan

Alger County in Michigan has a median household income of $55,528 and a homeownership rate of 81.9%. Using the 4% rule, retirees in this county would need approximately $624,675 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 Michigan

Wayne CountyOakland CountyMacomb CountyKent CountyGenesee CountyWashtenaw CountyOttawa CountyIngham 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.