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[Infographic] How Does Your Retirement Savings Compare To Your Neighbors'?

[Infographic] How Does Your Retirement Savings Compare To Your Neighbors'?

September 09, 2021

No matter how well-managed your investments are, trying to estimate the cost of a secure retirement can be a bit difficult. In other areas of your financial life, you may find yourself looking over the fence at your neighbors' yard to see if you're keeping up with the Jones'. Do they have a bigger pool or a better grill? We may subconsciously pat ourselves on the back if we are financially able to compete. 

When it comes to retirement savings, comparing apples to apples can provide you with a general baseline to gauge whether or not you are on track with your retirement plan.

Below, we have compiled a guide to retirement costs and income in four Michigan cities: Grand Rapids, Ann Arbor, Traverse City and Detroit. We hope this helps you as you map out your wealth management strategy in retirement. 

download this infographic as a pdf

We Can Help

How does your retirement savings fare in comparison to your community? There are so many variables when it comes to retirement planning, that pinpointing the exact amount you need can be tricky. This informal guide can lead you in the right direction. The discrepancy between your neighbors’ retirement savings and your own may be because they are based on and calculated with different variables, including the duration of your retirement, your retirement location, and any future medical costs or needs.

With all of this in mind, retirement planning may be daunting, but it is by no means impossible. Working with a financial advisor can enable you to live the retirement lifestyle you're striving for. Get started with us today!


Disclosure

This content is developed from sources believed to be providing accurate information. The material provided is not intended as tax or legal advice. Your retirement savings may differ significantly from others. The discrepancy between your neighbors’ retirement savings and your own may be because they are based on and calculated with different variables, including but not limited to the duration of your retirement, your retirement location, and any perceived future medical costs or needs. The material provided is for general information only. The longevity of your retirement is not guaranteed. Securities and advisory services offered through Centaurus Financial, Inc. Member of FINRA and SIPC. A Registered Investment Advisor. Supervisory office: 2701 Cambridge Court, Suite 525, Auburn Hills, MI 48326, (248) 648-8598. WealthMap Advisors and Centaurus Financial, Inc. are not affiliated.

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