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On the other hand, New England has famously harsh winters.
It can also be avery expensive placeto live.
New England includes six states: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont.
Massachusetts is by far the most populous, with nearly seven million residents.
Vermont has the regions lowest population with about 650,000 residents.
Massachusetts also has the regions highest annualcost of living… by far.
Weve also included totals for 15 and 20 years.
you’ve got the option to find our full methodology at the bottom.
Here are the costs for New Englandersto retire comfortably.
The average single-family home value was sourced from the Zillow Home Value Index.
Using the average mortgage and expenditure costs, the total monthly and annual cost of living was calculated.
These costs were doubled to determine numbers for living comfortably and figured for 15-, 20- and 30-year periods.
An inflation rate of 2.53% was used (sourced from USInflationCalculator.com).
An expected annual rate of return of 10.52% was used (sourced from Vanguards How America Saves).
All data was collected on and is up to date as of September 16th, 2024.
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