SmartAsset Puts Milwaukee Retirement Target at $772,406, With Social Security Cutting Need to $241,115
Updated
Updated · FOX 6 Milwaukee · Oct 26
SmartAsset Puts Milwaukee Retirement Target at $772,406, With Social Security Cutting Need to $241,115
1 articles · Updated · FOX 6 Milwaukee · Oct 26
Summary
$772,406 is the savings target SmartAsset calculated for a Milwaukee renter retiring without Social Security, versus $241,115 for a renter receiving benefits.
Milwaukee homeowners face lower targets in the study—$686,438 without Social Security and $155,072 with it—showing housing status sharply changes the amount needed.
SmartAsset said the analysis covered 55 of the largest U.S. counties and estimated savings needed for essential and typical extra retirement expenses over at least 30 years.
Across the Midwest, renter targets ranged from about $744,379 in Cleveland to $913,915 in Naperville without Social Security, while homeowner targets ran from $628,056 in Indianapolis to $773,745 in Naperville.