Retirement Planning in Faribault County, MN
What does it take to retire comfortably in Faribault County? Here are the numbers.
Median Income
$64,000
Retirement Income (80%)
$51,200
Est. Nest Egg Needed
$720,000
Cost of Living Index
98
Retirement Income Analysis
Income Needs (Annual)
Housing Costs
About Faribault County, Minnesota
Faribault County in Minnesota has a median household income of $64,000 and a homeownership rate of 80.4%. Using the 4% rule, retirees in this county would need approximately $720,000 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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