Retiring in Connecticut: Key Facts
| Factor | Connecticut |
|---|---|
| Retirement Ranking | #46 of 51 |
| State Income Tax | 3%–6.99% |
| Retirement Income Tax | Fully taxed |
| Property Tax Rate | 2.14% |
| Median Home Value | $400,000 |
How Much Do You Need to Retire in Connecticut?
Using the 4% rule: your nest egg should be 25× your annual expenses.
| Annual Spending | Nest Egg Needed | Monthly from $1M |
|---|---|---|
| $30,000/yr | $750,000 | $3,333/mo |
| $40,000/yr | $1,000,000 | $3,333/mo |
| $50,000/yr | $1,250,000 | $3,333/mo |
| $60,000/yr | $1,500,000 | $3,333/mo |
| $75,000/yr | $1,875,000 | $3,333/mo |
| $100,000/yr | $2,500,000 | $3,333/mo |
Calculate Your Connecticut Retirement Date
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Is Connecticut a good state to retire in?
Connecticut ranks #46 for retirement. Taxes and cost of living make it less ideal for retirees.
Does Connecticut tax Social Security?
Connecticut may tax Social Security benefits as regular income depending on your total income.
Related: 401k Calculator · Savings by Age