Vermont Savings Goal Calculator
Plan your savings goals in Vermont. Cost of living index 114.5, median income $65,792. See how long to save for your goal with interest.
How This Calculator Works
Calculation methodology and assumptions
Savings goal projection for Vermont with cost-of-living context. Uses compound interest formula with monthly contributions. Vermont's cost of living index of 114.5 (100 = national average) means savings goals may need to be higher than national benchmarks. The COL-adjusted figure shows what your goal would be at the national average cost of living.
Key State Information
Vermont savings context: Median income $65,792/yr | Cost of living 114.5 (above average) | Recommended 6-month emergency fund: $32,896 | State tax rate up to 8.75%.
Frequently Asked Questions
How much should I save in Vermont?
Financial experts recommend a 6-month emergency fund. In Vermont (cost of living index 114.5), that's approximately $32,896 based on median income. Beyond that, aim to save 15-20% of gross income for retirement and other goals.
How long does it take to save $10,000 in Vermont?
At Vermont's median household income of $65,792, saving 15% ($822/mo) at 4.5% APY, you'd reach $10,000 in about 12 months. Higher contributions or returns shorten this timeline.
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