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Retirement Planning in Mille Lacs County, MN

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

Median Income

$68,088

Retirement Income (80%)

$54,470

Est. Nest Egg Needed

$765,975

Cost of Living Index

105

Retirement Income Analysis

Income Needs (Annual)

Target Income (80% rule)$54,470
Est. Social Security$23,831
Annual Income Gap$30,639

Housing Costs

Median Rent$874/mo
Annual Housing$10,488
Property Tax Rate1.1%
Median Home Value$221,300

About Mille Lacs County, Minnesota

Mille Lacs County in Minnesota has a median household income of $68,088 and a homeownership rate of 76.2%. Using the 4% rule, retirees in this county would need approximately $765,975 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 Minnesota

Hennepin CountyRamsey CountyDakota CountyAnoka CountyWashington CountySt. Louis CountyOlmsted CountyStearns 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.