Retire in Wisconsin: Cost, Taxes & FIRE Number for 2026
Retiring in Wisconsin costs about $54,000 a year on average, earning a B- retirement tax grade and a #16 healthcare ranking. Here's the full breakdown — cost, taxes, and how much you actually need saved.
What It Costs to Retire in Wisconsin
The average retiree in Wisconsin spends about $54,000 a year ($4,500/month), based on BLS spending data for households 65 and older, adjusted for Wisconsin's cost of living. That works out to a standard retirement number of $1,350,000 under the 4% rule, or $1.54M for early retirees using the more conservative 3.5% FIRE withdrawal rate.
How the numbers below are calculated:
Annual cost = BLS Consumer Expenditure Survey 2024 (65+ household spending) × Wisconsin's cost-of-living index (MERIC Q3 2025).
Standard Retirement Number = Annual Cost ÷ 0.04 (4% rule, ~30-year horizon)
FIRE Number = Annual Cost ÷ 0.035 (3.5% rule, 40–50+ year horizon for early retirees)
Wisconsin earns a B- retirement tax grade from Plootus Research and ranks #16 of 50 states for healthcare quality. Combined with an average annual salary of $61,900 for working residents (median $51,980), that gives a fuller picture of what building — and eventually spending down — a nest egg looks like here.
Wisconsin Retirement at a Glance
| Average annual retirement cost | $54,000/yr ($4,500/mo) |
| Standard Retirement Number (4% rule) | $1,350,000 |
| FIRE Number (3.5% SWR) | $1.54M |
| Retirement Tax Grade | B- |
| State Income Tax | 7.65% max |
| Social Security Tax | ✅ No tax |
| Healthcare Quality Rank | #16 of 50 |
| FIRE-Friendliness Rating | ★★★☆☆ |
| Avg. Annual Salary (working residents) | $61,900 |
| Median Annual Salary (working residents) | $51,980 |
Sources: BLS CES 2024 (65+); MERIC Q3 2025; BLS OEWS May 2024; Plootus Research 2026.
Your Wisconsin-Adjusted Retirement Number
Pre-filled with Wisconsin's average retirement spending — adjust for your own situation.
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How Wisconsin Compares to Nearby States
| State | Annual Cost | Retirement Number | Tax Grade | HC Rank |
|---|---|---|---|---|
| Wisconsin | $54,000 | $1,350,000 | B- | #16 |
| Michigan | $52,000 | $1,300,000 | B- | #26 |
| South Dakota | $52,000 | $1,300,000 | A+ | #4 |
| Illinois | $57,000 | $1,425,000 | C+ | #23 |
How Wisconsin Treats Retirees on Taxes and Healthcare
Wisconsin carries a B- retirement tax grade from Plootus Research — decent on Social Security but the higher income tax rate weighs on the overall score.
State Income Tax
Wisconsin's state income tax tops out at 7.65% max. Check current brackets and any retirement-income deductions before you file.
Social Security Tax
Wisconsin does not tax Social Security benefits, one of the factors behind its B- tax grade. Confirm current rules with a tax professional as exemptions can vary.
Wisconsin ranks #16 nationally for healthcare quality — solidly mid-pack, worth researching specific providers in your target city.
Frequently Asked Questions: Retiring in Wisconsin
Wisconsin earns a B- retirement tax grade and ranks #16 of 50 for healthcare quality. Average annual retirement spending runs about $54,000, requiring roughly $1,350,000 in savings under the standard 4% withdrawal rule. Whether it's a good fit depends on your priorities — Wisconsin's state income tax is 7.65% max, and it does not tax Social Security.
Wisconsin does not tax Social Security benefits, one of the factors behind its B- tax grade. Confirm current thresholds and exemptions with a tax professional, since rules change year to year.
Using the standard 4% rule, retiring in Wisconsin on its average annual cost of $54,000 requires approximately $1,350,000 in savings. That figure excludes Social Security, which most retirees layer on top to reduce the amount they need from their own portfolio.
At a 3.5% safe withdrawal rate — the more conservative rate recommended for early retirees facing a 40–50+ year horizon — Wisconsin's FIRE number is approximately $1.54M, based on its $54,000/year average cost. Early retirees should also budget separately for healthcare before Medicare eligibility at 65.
Sources
- Bureau of Labor Statistics, Consumer Expenditure Survey 2024 (65+ age group)
- Missouri Economic Research and Information Center (MERIC), Cost of Living Index Q3 2025
- Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2024
- Kiplinger, Retirement Taxes 2026; WalletHub Best States to Retire 2026
- Plootus Research 2026 (tax grades, healthcare rank, FIRE ratings)
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