Free retirement calculator tailored for Iowa (IA). Calculate instantly with state-specific rates and rules.
Iowa's rapidly improving retirement tax environment, very low cost of living, and affordable healthcare make it an increasingly attractive retirement destination. Des Moines consistently ranks highly in livability and retirement affordability surveys.
| Data Point | Value |
|---|---|
| Average Retirement Savings (55-64 age group) | $115,000 |
| Median Household Income | $65,689 |
| Iowa Tax on Retirement Income | Iowa does not tax Social Security benefits for taxpayers earning under $75,000 (single) or $150,000 (married). |
Iowa does not tax Social Security benefits for taxpayers earning under $75,000 (single) or $150,000 (married). Iowa is phasing in full retirement income exemptions — by 2026, all retirement income will be fully exempt from Iowa state income tax for taxpayers 55 and older.
The average Iowa household nearing retirement (ages 55-64) has approximately $115,000 in retirement savings. Financial planners commonly recommend having 10-12x your final salary saved by retirement age. For the median Iowa income of $65,689, that suggests a target of roughly $656,890 to $788,268.
Use CalcuWealth's retirement calculator to model your specific situation — including your expected Social Security, any Iowa pension, and your investment portfolio — to find your personal retirement number.
Data: US Census Bureau ACS 2023, Zillow (2024), Vanguard How America Saves (2023), NCES. Updated 2024–2025. Figures reflect state averages — consult a licensed financial advisor for personalized guidance.
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