Retirement Planning in Lake of the Woods County, MN
What does it take to retire comfortably in Lake of the Woods County? Here are the numbers.
Median Income
$61,667
Retirement Income (80%)
$49,334
Est. Nest Egg Needed
$693,775
Cost of Living Index
95
Retirement Income Analysis
Income Needs (Annual)
Housing Costs
About Lake of the Woods County, Minnesota
Lake of the Woods County in Minnesota has a median household income of $61,667 and a homeownership rate of 82.7%. Using the 4% rule, retirees in this county would need approximately $693,775 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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