How much do you need to retire in Boston, MA? Based on a local cost of living of $78,000/year, your FIRE target is $1,950,000.
Using the 4% rule — the most widely used FIRE guideline — retiring in Boston, MA requires a portfolio of $1,950,000. This assumes you'll spend $78,000 per year and withdraw 4% of your portfolio annually, which historical data suggests can sustain a 30+ year retirement.
Boston, MA residents pay approximately 5.0% in effective state income tax. Maximising pre-tax contributions to a 401(k) or IRA is especially impactful here.
The biggest levers: your savings rate and when you start. Saving 20% of take-home versus 10% can cut your time to retirement nearly in half. Starting at 25 instead of 35 can mean retiring a decade earlier.
Track your spending, model your investments, and see exactly when you can retire in Boston, MA.
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