Retirement Planning in Socorro County, NM
What does it take to retire comfortably in Socorro County? Here are the numbers.
Median Income
$40,699
Retirement Income (80%)
$32,559
Est. Nest Egg Needed
$457,850
Cost of Living Index
63
Retirement Income Analysis
Income Needs (Annual)
Housing Costs
About Socorro County, New Mexico
Socorro County in New Mexico has a median household income of $40,699 and a homeownership rate of 74.9%. Using the 4% rule, retirees in this county would need approximately $457,850 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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