Free retirement calculator tailored for Maryland (MD). Calculate instantly with state-specific rates and rules.
Maryland's high home values mean many retirees have significant equity. The state's excellent healthcare system (Johns Hopkins, University of Maryland Medical System) is a major advantage for health-conscious retirees.
| Data Point | Value |
|---|---|
| Average Retirement Savings (55-64 age group) | $215,000 |
| Median Household Income | $94,384 |
| Maryland Tax on Retirement Income | Maryland does not tax Social Security benefits for lower-income residents (income under $75,000 single/$100,000 married). |
Maryland does not tax Social Security benefits for lower-income residents (income under $75,000 single/$100,000 married). Maryland provides up to a $35,000 pension exclusion for residents 65 and older ($15,000 for those 62-64). Maryland income tax rates range from 2% to 5.75%.
The average Maryland household nearing retirement (ages 55-64) has approximately $215,000 in retirement savings. Financial planners commonly recommend having 10-12x your final salary saved by retirement age. For the median Maryland income of $94,384, that suggests a target of roughly $943,840 to $1,132,608.
Use CalcuWealth's retirement calculator to model your specific situation — including your expected Social Security, any Maryland 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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