Free retirement calculator tailored for Massachusetts (MA). Calculate instantly with state-specific rates and rules.
Massachusetts's world-class healthcare system is a significant draw for retirees who prioritize medical access. The flat 5% income tax is moderate by Northeast standards. Cape Cod, the Berkshires, and western Massachusetts are popular retirement destinations within the state.
| Data Point | Value |
|---|---|
| Average Retirement Savings (55-64 age group) | $220,000 |
| Median Household Income | $89,026 |
| Massachusetts Tax on Retirement Income | Massachusetts does not tax Social Security benefits. |
Massachusetts does not tax Social Security benefits. Massachusetts exempts pensions from the state pension system and other qualified pensions. Other retirement income (IRA and 401k withdrawals) is taxed at Massachusetts's flat 5% income tax rate.
The average Massachusetts household nearing retirement (ages 55-64) has approximately $220,000 in retirement savings. Financial planners commonly recommend having 10-12x your final salary saved by retirement age. For the median Massachusetts income of $89,026, that suggests a target of roughly $890,260 to $1,068,312.
Use CalcuWealth's retirement calculator to model your specific situation — including your expected Social Security, any Massachusetts 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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