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Top Financial Advisors in Austin, TX

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Finding a Top Financial Advisor in Austin, Texas

Finding the best financial advisor in Austin means choosing between thousands of options. Whether you're looking for help with retirement, wealth management, tax planning or a combination of services, you'll find a variety of firms that offer both the skills and insight you need right in Texas' capital. We narrowed down your choices to the top 10 financial advisors in Austin to help you with your decision.

Rank Financial Advisor Assets Managed Minimum Assets Financial Services More Information
1 Legacy One Financial Advisors, LLC Legacy One Financial Advisors, LLC logo Find an Advisor

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$1,930,477,300 No set account minimum
  • Financial planning services
  • Portfolio management
  • Pension consulting services

Minimum Assets

No set account minimum

Financial Services

  • Financial planning services
  • Portfolio management
  • Pension consulting services
2 TCG Advisors, LP TCG Advisors, LP logo Find an Advisor

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$1,765,546,700 Varies based on account type
  • Financial planning services
  • Portfolio management
  • Pension consulting services
  • Selection of other advisors (including private fund managers)
  • Educational seminars/workshops

Minimum Assets

Varies based on account type

Financial Services

  • Financial planning services
  • Portfolio management
  • Pension consulting services
  • Selection of other advisors (including private fund managers)
  • Educational seminars/workshops
3 Century Management Financial Advisors Century Management Financial Advisors logo Find an Advisor

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$1,316,625,800 Varies based on account type
  • Financial planning services
  • Portfolio management
  • Educational seminars/workshops

Minimum Assets

Varies based on account type

Financial Services

  • Financial planning services
  • Portfolio management
  • Educational seminars/workshops
4 Durbin Bennett Private Wealth Management, LLC Durbin Bennett Private Wealth Management, LLC logo Find an Advisor

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$1,040,851,300 $1,000,000
  • Financial planning services
  • Portfolio management
  • Selection of other advisors (including private fund managers)
  • Consulting

Minimum Assets

$1,000,000

Financial Services

  • Financial planning services
  • Portfolio management
  • Selection of other advisors (including private fund managers)
  • Consulting
5 Austin Asset Austin Asset logo Find an Advisor

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$855,819,900 $1,000,000
  • Financial planning services
  • Portfolio management

Minimum Assets

$1,000,000

Financial Services

  • Financial planning services
  • Portfolio management
6 Venturi Wealth Management, LLC Venturi Wealth Management, LLC logo Find an Advisor

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$791,296,000 $1,000,000
  • Financial planning services
  • Portfolio management
  • Selection of other advisors (including private fund managers)

Minimum Assets

$1,000,000

Financial Services

  • Financial planning services
  • Portfolio management
  • Selection of other advisors (including private fund managers)
7 FMP Wealth Advisers FMP Wealth Advisers logo Find an Advisor

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$607,581,000 Varies based on account type
  • Financial planning services
  • Portfolio management
  • Selection of other advisors (including private fund managers)
  • Private placement management

Minimum Assets

Varies based on account type

Financial Services

  • Financial planning services
  • Portfolio management
  • Selection of other advisors (including private fund managers)
  • Private placement management
8 Richard P. Slaughter Associates, Inc. Richard P. Slaughter Associates, Inc. logo Find an Advisor

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$493,425,500 $500,000
  • Financial planning services
  • Portfolio management
  • Pension consulting services
  • Selection of other advisors (including private fund managers)
  • Publication of periodicals or newsletters
  • Educational seminars/workshops

Minimum Assets

$500,000

Financial Services

  • Financial planning services
  • Portfolio management
  • Pension consulting services
  • Selection of other advisors (including private fund managers)
  • Publication of periodicals or newsletters
  • Educational seminars/workshops
9 Meridian Wealth Advisors, LLC Meridian Wealth Advisors, LLC logo Find an Advisor

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$373,429,000 $5,000 minimum annual fee
  • Financial planning services
  • Portfolio management
  • Selection of other advisors (including private fund managers)

Minimum Assets

$5,000 minimum annual fee

Financial Services

  • Financial planning services
  • Portfolio management
  • Selection of other advisors (including private fund managers)
10 Beck Capital Management, LLC Beck Capital Management, LLC logo Find an Advisor

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$297,542,000 No set account minimum
  • Financial planning services
  • Portfolio management
  • Publication of periodicals or newsletters
  • Educational seminars/workshops

Minimum Assets

No set account minimum

Financial Services

  • Financial planning services
  • Portfolio management
  • Publication of periodicals or newsletters
  • Educational seminars/workshops

How We Found the Top Financial Advisors in Austin

To determine the top financial advisors in Austin, we considered a number of factors in our analysis. We gathered all U.S. Securities and Exchange Commission (SEC)-registered firms, as these firms are required to act in their clients' best interest. We eliminated any with disciplinary or regulatory problems. This kept our list focused on only the advisors with clean records.

Then, we excluded any firm that lacked financial planners. We also cut any firm that doesn’t manage individual or high-net-worth individual accounts. For the final ranking, we sorted the remaining firms by assets under management.

Legacy One Financial Advisors, LLC

Legacy One Financial Advisors, LLC

Legacy One Financial Advisors, LLC is a fee-based financial advisor firm with over $1.9 billion in assets under management (AUM). As a fee-based firm, its some of its advisors have the opportunity to earn commissions from the sale of insurance products. Legacy One does abide by fiduciary duty, though, legally binding it to act in your best interest no matter what.

There is no specified account minimum at Legacy One. This has possibly been the catalyst for non-high-net-worth individuals occupying the largest section of its client base. Legacy One also works with high-net-worth individuals, trusts, businesses, charitable foundations, retirement plans and family offices.

The 15-person advisors staff at Legacy One has nine certifications between them. In fact, the firm boasts four certified financial planners (CFPs), two certified public accountants (CPAs), one chartered life underwriter (CLU), one chartered financial consultant (ChFC) and one certified fund specialist (CFS).

Legacy One Financial Advisors, LLC Background

Managing partners Kevin Lange and Bert Foster co-founded Legacy One Financial Advisors in 2017. Today, the firm is ultimately under the principal ownership of AustinFP, Inc., which is owned by Lange. The duo has, on average, spent about 20 years in finance.

The overarching category of wealth management at Legacy One affords clients the chance to access a multitude of services. Clients can take advantage of retirement planning, estate planning, investment planning, risk management, insurance planning and cash flow planning and more.

Legacy One Financial Advisors, LLC Investing Strategy

A long-term investment ideology is at the core of the advisory services of Legacy One. This, of course, can be shifted to fit the personal risk tolerance, time horizon and other needs of clients, but not too far. In support of this style, the firm states that it tends to invest client assets in mutual funds and exchange-traded funds (ETFs) with individual equities, options and alternative investments sprinkled in.

Mutual funds and ETFs are favorites of Legacy One because of their inherent diversification. This allows the firm to ensure that your money is spread across a certain market without needing to spend much time or money on research.

TCG Advisors, LP

TCG Advisors, LP

TCG Advisors, LP comes in at the second spot on our list with $1.76 billion in assets under management (AUM). The firm boasts a staff of 20 advisory employees, including two certified financial planners (CFPs), one certified public accountant (CPA), one accredited investment fiduciary (AIF) and one chartered financial analyst (CFA). It's somewhat rare for a firm of this size to have only five certifications.

There are two separate account minimums at TCG Advisors. If you subscribe to its standard managed account program, you'll need to invest at least $100,000. However, if you use the signature models program, just a $50,000 is required. More than 80% of TCG's client base is individuals.

This is a fee-only firm, meaning all of its income comes from client fees.

TCG Advisors, LP Background

TCG Advisors is a privately-held partnership that's owned by holding company TCG Group Holdings, LLP and investment advisor Total Compensation Group Investment Advisory Services Management, LLC. The firm was opened in 2001 by CEO John Pesce and chairman Mike Cochran. To be clear, Pesce is TCG's principal owner, as he personally owns TCG Group Holdings.

The main advisory offering at TCG Advisors is investment portfolio management, but it provides this service in a few variations. In fact, you can choose from multiple portfolio models, management programs and robo-advisor services through Charles Schwab Intelligent Portfolios. Should you want it, TCG can offer some financial planning services.

TCG Advisors, LP Investing Strategy

Because TCG Advisors' portfolio management services are model-centric, much of its investment philosophy revolves around how it builds and maintains those strategies. Portfolio model reviews occur on a quarterly basis at TCG in the name of maximizing returns while mitigating volatility. If the firm sees an allocation shift of more than 5% within any one model, its advisors will rebalance it to the originally intended percentages.

Century Management Financial Advisors

Century Management Financial Advisors

Century Management Financial Advisors is great for Austinites who believe that steady, value investing is the proper way to grow your money. The company has more than 1,000 client accounts on hand. With $1.32 billion in assets under management, the west Austin-based Century Management is the third largest advisor on our list.

Century Management Financial Advisors Investing Philosophy

Century Management is one of the oldest firms on our list. Arnold Van Den Berg founded the company in 1974 and still serves as CEO, co-chief investment officer and chairman.

Clients who are firm believers of value investing will likely appreciate Century Management’s multi-faceted philosophy: 

  • Use a business approach
  • Use a margin of safety
  • Embrace volatility
  • Focus on price
  • Put time on your side

Century Management states that they invest based on the intrinsic value of a company and strive to buy undervalued equities to ensure a higher reward-to-risk ratio. It also embraces volatility because of inefficiencies that present themselves in the market during those times. Lastly, Century Management says they focus on finding bargain or wholesale prices and playing the long game with your assets. 

Management Style Options at Century Management Financial Advisors

Century Management provides a wide array of management styles that suit different individuals, allowing for a wide range of customers to use its service. For example, you choose between four broad management styles: 

  • Value-based equity-focused portfolios
  • Balanced-focused portfolios
  • Fixed-income-focused portfolios
  • Other strategies

Younger investors who benefit from more equity-heavy portfolios (or anyone who is interested in carrying a greater risk) can choose between all-cap value, large-cap absolute value and small-cap equity value programs. Each strategy is based on the percentage invested in equities, which ranges from around 50% to 90%. 

For those closer to retirement (or anyone who is more risk averse), balanced-focused management comes with three options: moderate plus allocation, moderate allocation and conservative allocation. The portion of the portfolio invested in equities ranges from 20% to 80%, depending on your choice. 

In a fixed-income-focused portfolio, your money is primarily invested in U.S. corporate bonds and/or U.S. Treasury securities. 

The last management style is any variation on the first three strategies, and captured under “other strategies.” It is only offered upon request.  

All portfolios require at least $500,000, except two. You’ll need $2 million for small-cap value portfolios and at least $1 million for fixed-income portfolios.

Extras Offered by Century Management Financial Advisors

The second place firm in Austin also publishes a monthly blog covering latest industry trends. If you would like more general information about finance, Century Management provides resources to help you understand the market, in addition to what’s happening at the moment. 

CM Advisors Family of Funds

Century Management has its own mutual funds, known as CM Advisors Family of Funds. In addition to other mutual funds, if you are a client here, you can pick the company’s products but you don’t have to do so. The company acknowledges that advisors may recommend the company’s own products but the client isn’t under an obligation to invest in those programs. Century Management doesn’t receive commissions, trading fees or any custodian-generated fees, according to the SEC-filed Form ADV. 

Durbin Bennett Private Wealth Management, LLC

Durbin Bennett Private Wealth Management, LLC

Fourth on our top Austin advisors list is Durbin Bennett Private Wealth Management. You’ll need at least $1 million for Durbin Bennett to consider you as a client, which is higher than some of the other firms on this list.

Durbin Bennett Private Wealth Management, LLC History and Awards

This company is local to residents of Austin and San Marcos. It was founded by Richard Bennett and Brent Durbin in 1987. Durbin Bennett was named one of the top 50 registered investment advisors by Bloomberg in 2015 and a top 100 fee-only wealth manager by CNBC in the same year. The firm has over $1.04 billion in assets under management and more than 200 active accounts.

Durbin Bennett Private Wealth Management, LLC Investing Philosophy

If you enjoy a healthy amount of market skepticism, you’ll likely agree with Durbin Bennett’s belief that markets can be irrational or inefficient. This belief informs the company’s portfolio strategy which is based on a passive core and more active satellite components. 

You’ll decide your ratio of passive-to-active investments when you speak to your advisor to discuss financial goals and planning. 

Rebalancing is another Durbin Bennett portfolio tenet. Portfolios are rebalanced as needed by adhering to predetermined tolerance ranges for various asset classes.

The last core tenet is net returns over gross returns. This means your advisor will construct your portfolio with tax impacts in mind. They will capture losses when possible, as well as long-term gains over short-term ones.  

Available services for clients include strategic wealth planning and investment management, asset and risk management, generational wealth transfer, retirement planning and family office coordination. For broker-dealer services, Durbin Bennett recommends you use Schwab Advisor Services or Fidelity Investments.

Austin Asset

Austin Asset

Austin Asset is one of a few advisors in Austin to provide fee-only financial services. This means the company makes money solely from fees, rather than commissions via the sale of products. You will need at least $1 million to become a client of this financial advisor. Austin Asset has just under 350 client accounts to its name.

Austin Asset Background

Austin Asset’s philosophy is that wealth planning is a journey, not a one-time exercise. The company started conducting business in 1986. Austin Asset claims to be one of the first to provide fee-only financial services. It has over $855 million in assets under management. The boutique management company states that the people there believe in a holistic process. This means lots of information up front, to better serve you and eliminate confusion from the start. 

Becoming an Austin Asset Client

You’ll be served by a team-based service model during the wealth-planning process. This means you get subject matter experts for your particular needs. The company has 11 CFPs and three CPAs, more than most of the other firms on this list. 

In the first six months of working with Austin Asset for wealth planning, you’ll meet with representatives about three to six times. The goal of this is to establish financial objectives, review financial documents and discuss any anticipated changes that may affect your financial plan. 

According to the company’s website, this can include analyzing investment statements, tax returns, sources of income and expenses, insurance policies, legal and business documents and employee benefits, if applicable. Austin Asset operates on an unlimited access retainer, which means you can reach out to a team member at any time, without additional fees. 

Austin Asset Features

Tech lovers will likely enjoy Austin Asset’s unique proprietary tools. The Building Organized Wealth (BOW©) Model aligns your goals with your actual financial situation, while the Actual Rate of Return on Wealth (ARROW©) tracks your portfolio’s performance against a year’s goal, according to the company’s website. These tools help model different savings and income scenarios as well as portfolio performance. 

You’ll have access to the company’s online performance reporting tool which will allow you to view your portfolio reports, as well as share sensitive documents with your manager.  

Austin Asset Wealth Management

For wealth management, you’ll work with a dedicated wealth manager who will implement and maintain your portfolio. The company strives for the least amount of risk necessary to drive success for your wealth-planning goals, according to the firm’s brochure. 

Wealth management clients can generally receive advice on securities such as:

  • Exchange-listed securities
  • Mutual fund shares
  • U.S. governmental securities
  • Certificates of deposit
  • Variable life insurance
  • Variable annuities

You’ll meet with your manager at least once a year to review your portfolio. This company is aimed toward the wealthy and consists of over 69% high-net-worth individual accounts. 

If you meet Austin Asset’s $1 million threshold to open an account, you’ll be happy to know that the team uses complete discretion in sensitive financial information. Company materials state that trust is the most important factor between advisor and client. Austin Asset maintains awareness that many clients value anonymity.

Venturi Wealth Management, LLC

Venturi Wealth Management, LLC

You’ll need a minimum of $1 million in investable assets to start a relationship with Venturi Wealth Management, LLC, one of the newer companies on our list. The majority of the firm's clients are high-net-worth individuals. Unlike fee-only companies such as Durbin Bennett, Venturi Management is a fee-based company. This means that while Venturi is a fiduciary and obligated to work in the best interest of their clients, they may receive commissions for certain insurance product sales.

Venturi Wealth Management, LLC Background

Russell Norwood and George Clark, two advisors with a combined 41 years at Merrill Lynch, founded Venturi Wealth Management in 2015. In just four years, the firm has grown to $791 million in assets under management to take the fifth spot on our top financial advisors in Austin list. Venturi Wealth Management isn’t done growing, either. In late June 2017, Bloomberg reported that the company is seeking to acquire wealth management firms.

Working With Venturi Wealth Management, LLC

With its goal to “deliver unbiased, objective advice you can trust,” Venturi Wealth Management offers a variety of services. You’ll have the option to choose from discretionary investment advisement, integrated financial planning, legacy and estate planning, business advisory services and more.

The Venturi team is on the small side compared to the rest of the firms on the list, with only nine advisors on staff. However, more than 79% of the firm’s clients are high-net-worth individuals, which the SEC defines as investors who have at least $1.5 million in investable assets.

FMP Wealth Advisers

FMP Wealth Advisers

FMP Wealth Advisers just barely clears the $600 million threshold in terms of assets under management. Perhaps its most impressive feature is the seven certified financial planners (CFPs) it has on a staff of just nine. The certifications don't stop there either, as the firm also has two chartered retirement planning counselors (CRPCs) and one chartered financial analyst (CFA).

More than 90% of the clients at this fee-only firm are individuals, and around one-third of those have a high net worth. Retirement plans, estates, trusts, businesses, charitable organizations and investment companies make up the rest of its typical clientele.

Aside from its home office in Austin, FMP has two additional locations in Beaumont, Texas and Lake Charles, Louisiana.

FMP Wealth Advisers Background

FMP Wealth Advisers is a largely employee-owned firm, as five of the firm's top employees are principal owners. This list includes Milton Hixson (founder and president), John Hixson (senior advisor), Kevin Hixson (director of client service team), Les Hixson (director of investments and research) and Adam Todd (senior advisor). None of these individuals own more than 50% of the company's shares. FMP opened its doors in 1987.

The nucleus of FMP's services are personalized financial planning, wealth management and investment management.

FMP Wealth Advisers Investment Decisions

Like many of its contemporaries, FMP Wealth Advisers has a series of investment types that it usually sticks to: mutual funds and ETFs. The firm explicitly states in its Form ADV that this is due to the fact that these securities are both managed by professionals and inherently diversified. These benefits, coupled with the investment experience of the firm's own advisors, leaves FMP feeling as though its client portfolios are adequately built.

Although long-term financial success is the goal of FMP, it will help clients meet their short-term needs if applicable. This could be satisfying an emergency fund or helping to pay for insurance costs.

Richard P. Slaughter Associates, Inc.

Richard P. Slaughter Associates, Inc.

Newly wealthy and searching for an Austin financial advisor? Richard P. Slaughter Associates, Inc. has years of experience working with those who are new to the responsibilities that comes with wealth. You’ll need at least $500,000 to become a client. Along with the suddenly wealthy, Richard P. Slaughter Associates focuses on business owners and business professionals.

Richard P. Slaughter Associates, Inc. Background

Richard P. Slaughter Associates was founded in 1991 by the firm’s namesake as a fee-based advisor company. Customer service is one of the company’s hallmarks. For six years in a row, the company earned five stars for its customer service from Texas Monthly.

The company has more than 400 clients and $493 million assets under management.

Becoming a Richard P. Slaughter Client

You’ll find wealth management solutions, financial planning and asset management at Slaughter Associates. Those who like structure will appreciate the company’s four-part wealth management process. 

Step one is the “discovery” phase, during which you’ll discuss immediate financial requirements as well as long-term goals. The next step is financial planning, during which you’ll explore different financial scenarios with varying retirement dates, lifestyle needs, cash flow, budgets and more. 

After your financial strategy is in place, the third step is asset management. This is when your assets are selected and allocated and then monitored. The final part is ongoing support. You’ll have service support from your fiduciary advisor team which includes information and education on market trends as advice for other financial matters. 

Richard P. Slaughter and Sudden Wealth Clients

When you receive a large sum of money, whether through an inheritance or from a sale of a business, you’ll want a company with experience to usher you into the next chapter of your financial life. Slaughter Associates provides detailed tax consulting, personal and family budgeting, estate planning and wealth transfer along with wealth-management consulting. 

Richard P. Slaughter and Business Professionals

If you’re looking for detailed investment planning as an executive, Slaughter Associates provides a number of targeted services. These include management of stock grants and deferred compensation, diversification, retirement strategies, company retirement plans, proactive tax planning and estate planning. 

Richard P. Slaughter Resources

You can get started with your financial knowledge by reading Slaughter Associate’s bi-monthly publication that features Worth magazine articles. The company maintains expert articles as well, though these are published more sporadically. However, you’ll find economic analysis and market commentary once a month, which is one of the most robust publishing schedules we’ve come across during our research into the top Austin financial advisors.

Meridian Wealth Advisors, LLC

Meridian Wealth Advisors, LLC

Meridian Wealth Advisors, LLC is largely focused on high-net-worth clients, such as families, entrepreneurs, professionals, corporate executives, retirees, endowment funds, private fundations and 501(c)3 charitable organizations. In fact, more than 60% of Meridian's client base is made up of individuals with a high net worth. Rather than impose a typical minimum investment requirement, this fee-based firm calls for a minimum annual fee of $5,000.

There are four financial advisors working at Meridian, but that hasn't precluded it from accruing a solid number of certifications. At the firm, you'll find two certified investment management analysts (CIMAs), one certified financial planner (CFP), one certified private wealth advisor (CPWA) and one certified public accountant (CPA).

Meridian employs advisors that double as insurance agents, meaning they have the opportunity to earn commissions for the sale of insurance products. The firm is a fiduciary, though, meaning it is bound by law to act in your best interest at all times.

Meridian Wealth Advisors, LLC Background 

Having been formed in just 2016, Meridian Wealth Advisors still fits the bill of a young financial advisor firm. Partner and wealth advisor Meagan Moll and managing partner Josh Galatzan founded Meridian. While this duo has maintained their status as principal owners, managing partner Kirk Price has been inducted into ownership as well.

The main services available through Meridian are comprehensive wealth management and investment advisory, but these are then broken down into five separate subcategories: investment portfolio management, financial planning, asset allocation, financial consulting and pension consulting.

Meridian Wealth Advisors, LLC Investing Strategy

Rather than employ a cookie-cutter, portfolio model-based approach, Meridian Wealth Advisors' looks to match your investment needs with a proprietary asset allocation and overall investment plan. The firm has both discretionary and non-discretionary portfolio management services. As their distinct names indicate, discretionary clients will have all investment decisions left up to their advisor, whereas non-discretionary clients will be alerted whenever the firm is looking to buy or sell a security.

Your long-term financial well-being is a major consideration in Meridian's plans for your portfolio. However, the firm will likely use a combination of both risky and safe investment types, just in a balance that fits your personal risk tolerance. Some of the common investments used by the firm include equities, CDs, corporate debt securities, ETFs, mutual funds, municipal securities and alternative investments.

Beck Capital Management, LLC

Beck Capital Management, LLC

Beck Capital Management, LLC provides a range of investment services, but there are no certified financial planners (CFPs) on staff. There is, however, one certified divorce financial analyst (CDFA). The company is numbers-focused: the chief investment officer has a math and economics degree and the company employs a macro-economist. The firm does has not released a specific minimum account size requirement.

Beck Capital Management, LLC Background 

In 1997, Beck Capital Management was originally established as Capital Financial Group by James “Frank” Beck. It incorporated under its current name in 2009. Beck serves as the chief investment officer and president and is the principal owner of the firm.

Bill Gregory, vice president of operations, has worked for Beck Capital for over 18 years. With more than 75 years of combined financial, investment and market experience among three members of the investment committee, the company has a deep pool of knowledge.

Beck Capital has more than $297 million in assets under management according to its Form ADV.

Working with Beck Capital Management, LLC

You’ll find a number of client services at Beck Capital management. All services are fee-based, and include portfolio management, financial, retirement and estate planning. The company provides investment advice to individuals, high-net-worth individuals, trusts, estates, charitable organizations, corporations and businesses, among others.

Beck Capital Management, LLC Investment Philosophy 

Research lovers take note: Beck Capital follows an investment philosophy that uses a macro-economist to provide guidance and expertise on the “30,000-foot view” of the market. The company’s rigorous research process that uses in-house institutional-grade databases and tools.

How Many Years $1 Million Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about cost of living in retirement there.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology SmartAsset calculated the average cost of living for retirees in the largest U.S. cities. Using that calculation, we determined how many years $1 million would last in retirement in each major city.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors throughout the country. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%, reflecting the typical return on a conservative investment portfolio. Finally, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would last in each of the cities in our study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research