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Retirement Planning in Luce County, MI

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

Median Income

$51,015

Retirement Income (80%)

$40,812

Est. Nest Egg Needed

$573,925

Cost of Living Index

78

Retirement Income Analysis

Income Needs (Annual)

Target Income (80% rule)$40,812
Est. Social Security$17,855
Annual Income Gap$22,957

Housing Costs

Median Rent$746/mo
Annual Housing$8,952
Property Tax Rate1.0%
Median Home Value$104,600

About Luce County, Michigan

Luce County in Michigan has a median household income of $51,015 and a homeownership rate of 82.4%. Using the 4% rule, retirees in this county would need approximately $573,925 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 Michigan

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This County Across Smart Technology Investments

Money and planning

  • Vontarirelocation, cost of living, salary
  • Morivexlife insurance, term, whole
  • Venatribusiness, startup, launch cost

Property and place

Health and care costs

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.