Loading
Tap on the profile icon to edit
your financial details.

Top Financial Advisors in Pittsburgh, PA

Your Details Done
by Updated

Finding a Top Financial Advisor Firm in Pittsburgh, Pennsylvania

Big cities like Pittsburgh have no shortage of financial advisors, so it can be tough to narrow them down and know which one will best fit your needs. To make the search a bit easier for investors in the Steel City, SmartAsset determined Pittsburgh’s top 10 financial advisor firms and ranked them according to assets under management. In tables and reviews, we lay out the key facts on each firm to help you determine which one is the best fit for you. If you want a more tailored recommendation for a local financial advisor, SmartAsset’s financial advisor matching tool can match you with financial advisors in your area who are best suited to help you achieve your financial goals.

Rank Financial Advisor Assets Managed Minimum Assets Financial Services More Information
1 Fort Pitt Capital Group, LLC Fort Pitt Capital Group, LLC logo Find an Advisor

Read Review

$2,505,825,974

$500,000

  • Financial planning services
  • Portfolio management
  • Pension consulting services
  • Educational seminars/workshops

Minimum Assets

$500,000

Financial Services

  • Financial planning services
  • Portfolio management
  • Pension consulting services
  • Educational seminars/workshops
2 CooksonPeirce Wealth Management CooksonPeirce Wealth Management logo Find an Advisor

Read Review

$1,469,260,000

$1,000,000

  • Financial planning services
  • Portfolio management

Minimum Assets

$1,000,000

Financial Services

  • Financial planning services
  • Portfolio management
3 Guyasuta Investment Advisors, Inc. Guyasuta Investment Advisors, Inc. logo Find an Advisor

Read Review

$1,341,983,000

$1,000,000

  • Financial planning services
  • Portfolio management

Minimum Assets

$1,000,000

Financial Services

  • Financial planning services
  • Portfolio management

Let us help match you with the right financial advisor for your needs.

Answer a few questions to get a personalized match.
Get started
4 Fragasso Financial Advisors Fragasso Financial Advisors logo Find an Advisor

Read Review

$1,027,940,351

$250,000

  • Financial planning services
  • Portfolio management 
  • Pension consulting services

Minimum Assets

$250,000

Financial Services

  • Financial planning services
  • Portfolio management 
  • Pension consulting services
5 The Coury Firm The Coury Firm logo Find an Advisor

Read Review

$765,000,000 No account minimum, but $30,000 minimum fee
  • Investment advisory services
  • Wealth planning services

Minimum Assets

No account minimum, but $30,000 minimum fee

Financial Services

  • Investment advisory services
  • Wealth planning services
6 Henry H. Armstrong Associates, Inc. Henry H. Armstrong Associates, Inc. logo Find an Advisor

Read Review

$718,358,000

$2,000,000

  • Financial planning services
  • Portfolio management

Minimum Assets

$2,000,000

Financial Services

  • Financial planning services
  • Portfolio management
7 XPYRIA Investment Advisors, Inc. XPYRIA Investment Advisors, Inc. logo Find an Advisor

Read Review

$663,275,697 $1,000,000
  • Investment management services
  • Financial planning services

Minimum Assets

$1,000,000

Financial Services

  • Investment management services
  • Financial planning services
8 Hunter Associates Hunter Associates logo Find an Advisor

Read Review

$644,245,787

No set account minimum

  • Financial planning services
  • Portfolio management
  • Manager of managers

Minimum Assets

No set account minimum

Financial Services

  • Financial planning services
  • Portfolio management
  • Manager of managers
9 D.B. Root & Company, LLC D.B. Root & Company, LLC logo Find an Advisor

Read Review

$406,663,983 $500,000-$1,000,000
  • Financial planning services
  • Portfolio management
  • Selection of other advisors (including private fund managers)

Minimum Assets

$500,000-$1,000,000

Financial Services

  • Financial planning services
  • Portfolio management
  • Selection of other advisors (including private fund managers)
10 Commonwealth Advisory Group, Ltd. Commonwealth Advisory Group, Ltd. logo Find an Advisor

Read Review

$368,904,545

$50,000

  • Financial planning services
  • Portfolio management

Minimum Assets

$50,000

Financial Services

  • Financial planning services
  • Portfolio management

How We Found the Top Financial Advisor Firms in Pittsburgh, Pennsylvania

SmartAsset considered all U.S. Securities and Exchange Commission (SEC)-registered firms in Pittsburgh. Once we’d compiled a list of the city’s registered, fiduciary financial advisor firms, we went through and eliminated any firms with a history of disciplinary issues; any that did not manage individual accounts; and any that did not have financial planners on staff. The remaining firms were then sorted according to assets under management (AUM).

Fort Pitt Capital Group, LLC

Fort Pitt Capital Group, LLC

Fort Pitt Capital Group, LLC requires a $500,000 account minimum. The firm serves mostly individual clients; while some of these are high-net-worth individuals, the vast majority are not.

Formed in 2015, Fort Pitt Capital Group is a relatively new entity. However, its predecessor, Fort Pitt Capital Group, Inc., was formed in 1995. The firm was built upon its predecessor’s values and traditions. Fort Pitt’s team boasts a decent array of certifications. There are four certified financial planners (CFPs), three accredited investment fiduciaries (AIFs), one chartered financial analyst (CFA) and one certified public accountant (CPA).

Fort Pitt is a fee-based firm. The firm's founding partners, Michael Blehar and Theodore Bovard, are also licensed insurance agents and they write fixed annuities. Though they may earn commissions for acting as insurance agents and selling related products to clients, they are required by their fiduciary duty to put their clients' best interests first.

Fort Pitt Capital Group, LLC Background

Formed in 2015, Fort Pitt Capital Group is part of the Focus Financial Partners, LLC partnership. As such, Fort Pitt is a wholly owned subsidiary of Focus Operating, LLC.

The firm serves both individuals and institutions. For individuals, Fort Pitt Capital offers investment management services and advisory services, including on planning for retirement, investing your savings or selling your business. The firm will coordinate with your other financial professionals, including CPAs, attorneys and insurance brokers.

Fort Pitt Capital Group, LLC Investment Process

Fort Pitt Capital Group says that its top priority is ensuring that its clients' assets stay within their specified risk tolerance. The firm claims that it isn't influenced by the market's ups and downs, and sticks to its plan regardless of what's going on with the markets. Instead of trying to time the markets, Fort Pitt tries to build portfolios that are flexible to enough to weather changing market conditions.

The firm has three investment strategies:

  • Stock strategy: These highly personalized accounts consist of individual stocks. They aim to "provide a realistic but competitive investment return through a complete market cycle."
  • Bond strategy: This strategy, which the firm highlights for near-retirees, is aimed less at growth and more at ensuring your money's longevity. 
  • Asset allocation strategy: Fort Pitt Capital says that this strategy is "geared towards maximizing returns on a long-term, strategic basis" through a diversified yet aggressive portfolio. This strategy uses no-load mutual funds.

CooksonPeirce Wealth Management

CooksonPeirce Wealth Management

CooksonPeirce Wealth Management requires a $1 million account minimum. Though CooksonPeirce serves primarily high-net-worth individuals, its client base also includes non-high-net-worth individuals, as well as trusts, endowments, pensions and foundations. The fee-only firm has four certified financial planners (CFPs), one chartered financial analyst (CFA) and one chartered financial consultant (ChFC) on staff.

CooksonPeirce Wealth Management Background

CooksonPeirce Wealth Management was formed in 1984. In addition to being the third-oldest firm on this list, CooksonPeirce's staff boasts nearly 200 years of combined experience. The privately held firm has three principal owners and three minority owners, each of whom are involved in the firm's day-to-day operations.

CooksonPeirce provides asset management services, as well as advice on financial planning, tax planning and retirement planning. In addition, CooksonPeirce provides asset management services to professional advisors at financial institutions.

CooksonPeirce Wealth Management Investing Strategy

CooksonPeirce Wealth Management's investment philosophy is to "listen to the numbers," which, it points out, "simply don't lie." The firm relies on a quantitative selection methodology to eliminate the possibility of emotions or subjectivity entering into its investment selection process.

The firm primarily uses equities and fixed-income securities, including stocks, ETFs and bonds. Equity investments are managed through one of four strategies: aggressive, growth, moderate and conservative. The firm says that it primarily manages assets in the moderate and growth styles. Portfolio management of fixed income investments, on the other hand, is done through a ladder structure, in which the bonds set to mature in 12 years or less are purchased so that a portion of the portfolio matures each year.

Guyasuta Investment Advisors, Inc.

Guyasuta Investment Advisors, Inc.

Guyasuta Investment Advisors, Inc. primarily serves high-net-worth individuals, but it also works with non-high-net-worth individuals, pension plans, charitable organizations, government entities and corporations. The firm has an account minimum of $1 million.

The fee-only firm has one chartered financial analyst (CFA) on staff among its 10 advisors.

Guyasuta Investment Advisors, Inc. Background

Founded in 1983, Guyasuta Investment Advisors, Inc. is the second-oldest firm on this list, after Fragasso Financial Advisors, which was founded in 1979. The firm's team boasts a collective 200 years of experience in the financial industry.

The firm was originally founded as Scheetz, Smith and Company, and it changed its name to Guyasuta in 1994 through a corporate restructuring. The independent, privately held firm is fully owned by its six full-time investment professionals.

Guyasuta provides investment management and financial planning services, and will work with your other financial advisors to ensure it crafts a lasting, comprehensive solution. The firm says that it’s structured to allow its team to work "as collaboratively as possible." At least one partner works closely with each client.

Guyasuta Investment Advisors, Inc. Investment Philosophies

Guyasuta Investment Advisors determines specific objectives and risk tolerance before it builds your portfolio and determines the appropriate asset allocation. It prioritizes minimizing taxes, controlling risk and reducing fees and other expenses.

The firm primarily uses individual equity and fixed-income securities. Guyasuta employs two investment philosophies: equity philosophy and fixed income philosophy. The equity philosophy is focused on risk management, diversification and direct ownership to drive long-term capital appreciation. The fixed income philosophy, on the other hand, is focused on the generation of steady income and the preservation of capital. While the equity strategy uses equity securities of high-quality companies across multiple sectors and industries, the fixed income strategy uses individual bonds, with a focus on issuers who have strong credit fundamentals.

Fragasso Financial Advisors

Fragasso Financial Advisors

Founded in 1979, Fragasso Financial Advisors bears the distinction of being the oldest firm on this list. The firm has 20 advisors on staff, boasts eight certified financial planner (CFP) certifications, as well as 15 accredited investment fiduciary (AIF) certifications and two chartered financial analyst (CFA) certifications.

To be a client of Fragasso, you'll need at least $250,000 in investable assets, which is on the lower end compared to many of the other firms on this list. Unlike many firms on this list, Fragasso primarily serves individuals, rather than high-net-worth individuals.

Notably, this is a fee-based firm. Employees of the firm are representatives of the broker-dealer LPL Financial, and others are licensed insurance agents appointed through various insurance companies. Although the firm's employees may earn commissions for the sale of securities or insurance products, they're first and foremost bound by their fiduciary duty to act in clients' best interests.

In 2017, Fragasso was rated by Forbes, Financial Advisor Magazine and Barron's as a top wealth advisor.

Fragasso Financial Advisors Background

Fragasso Financial Advisors' founder, Robert Fragasso, started out in 1972 as a sole practitioner. In 1979, he founded the Fragasso Group, now known as Fragasso Financial Advisors. Robert Fragasso owns the firm, and he's also the firm's chairman and chief executive officer. Fragasso is one of the firm's 40 employees, who have more than 100 years of combined experience.

Fragasso Financial Advisors offers wealth management services. This may include holistic financial planning services, potentially encompassing services including estate planning, education funding, charitable and family gifting strategies, income tax reduction strategies, business succession planning, cash flow analysis, life insurance and long-term care cost analysis. The firm may also coordinate with its clients' attorneys and accountants. In addition to its work with individual clients, Fragasso works with retirement plan participants and sponsors.

Each client has his or her own dedicated team, which consists of a financial advisor, portfolio manager and administrative specialist. The firm's eight-person, in-house portfolio management department is in charge of determining appropriate asset allocations, making asset class recommendations and offering market analysis, commentary and special reports for clients.

Fragasso Financial Advisors Investing Process

The first step in a client's relationship with Fragasso Financial Advisors, Inc. is creating an Investment Policy Statement and Guidelines, which outlines a client's financial objectives and lays out the portfolio management strategy. Once this is completed, the firm's portfolio management department selects investments that align with a client's risk and return profile. The firm uses a variety of investment types, including institutional no-load and load-waived mutual funds, ETFs, variable annuity subaccounts, alternative investments, individual stocks and options. The firm provides quarterly rebalancing to your agreed upon asset allocation.

In addition, Fragasso offers three advisory programs - Optimum Market Portfolios, Model Wealth Portfolios and Guided Wealth Portfolios - in conjunction with LPL Financial, a broker-dealer.

The Coury Firm

The Coury Firm

The Coury Firm, an advisory firm run by the Coury family, is next on our list. The firms has 11 advisors , one of whom has earned the chartered financial analyst (CFA) status.

While the firm doesn’t have an explicit account minimum, it does charge a minimum annual fee of $30,000, which may make its services not worth it to clients with smaller portfolios. The Coury Firm works with individuals, high-net-worth individuals, pooled investment vehicles, pension plans, charitable organizations and corporations.

The Coury Firm Background

Although The Coury Firm in its current organization has been around since only 2018, its principals has been providing advisory services since 1984. The firm is owned by a mix of individuals and trusts; Gregg S. Coury, Jeffrey C. Coury and Robertino S. Coury all own part of the firm, either directly or indirectly.

The Coury Firm offers investment advisory services and wealth planning services to individuals, families, trusts and foundations. The firm also provides investment management services to affiliated investment funds.

The Coury Firm Investment Philosophy

The Coury Firm typically provides investment management services in one of two ways: allocating a client’s assets entirely with third-party managers/funds, or divvying the assets between firm-affiliated funds and third-party managers/funds. The firm will factor in each client’s preferences, financial situation and liquidity needs when choosing between the two approaches.

When constructing a client’s portfolio, the firm first focuses on asset allocation, seeking to strike a balance between diversifying risk and earning steady returns. Using proprietary tools and published information, the firm calculates an allocation that maximizes expected return for a given level of risk, matching that risk level to the client’s risk tolerance.

Henry H. Armstrong Associates, Inc.

Henry H. Armstrong Associates, Inc.

Henry H. Armstrong Associates, Inc. has the smallest advisory team of any firm on this list, with just four advisors on staff. Those four advisors include one certified financial planner (CFP) and one chartered financial analyst (CFA). This is a fee-only firm, which means it does not receive outside compensation in the form of commissions for insurance sales or other transactions.

While Henry H. Armstrong Associates’ advisory team is small, its account minimum is not. The firm’s minimum account size is $2 million, the highest minimum on this list. As you might expect, the firm serves primarily high-net-worth individuals, but its client base also includes non-high-net-worth individuals. This might be due to the fact that the firm will waive its account minimum at its discretion.

Henry H. Armstrong Associates, Inc. Background

Henry H. Armstrong Associates, Inc. was founded in 1983. The firm's principal owner is James McKay Armstrong, who also serves as the firm's president.

In addition to its offices in Pittsburgh, Henry H. Armstrong Associates also has offices in New York. Its clients include individuals, families, trusts, estates, pension and profit-sharing plans, corporate assets, charitable organizations and pooled investment vehicles. These clients are spread 23 states and two other countries. Armstrong offers continuous investment advisory services as well as wealth advisory services.

Henry H. Armstrong Associates, Inc. Investing Philosophy

Henry H. Armstrong's eponymous founder's investment philosophy mirrors the approaches of Benjamin Graham, widely known as the father of value investing, and Warren Buffett. Graham advises investors to avoid getting emotional about market declines, and to be wary of stocks that become too expensive, even if the companies have strong fundamentals. Of Buffett's principles, Armstrong embraces his advice to embrace market volatility and a period of inactivity after stock purchases. While most firms on this list embrace the conventional strategy of diversification, Armstrong is guided by Buffet's counterintuitive strategy of concentrating portfolios.

The firm has two sets of principles: equity principles and fixed-income principles. Its equity principles emphasize investing its clients in high-quality growth companies; it focuses on the long term, avoiding excessive trading or turnover. Its fixed-income principles prioritize safety and stability, which it achieves through investing in treasury securities, with maturities structured in a ladder. Overall, risk is concentrated in equity, while fixed income takes on as little risk as possible.

XPYRIA Investment Advisors

XPYRIA Investment Advisors, Inc.

XPYRIA Investment Advisors has six advisors; among them are one certified financial planner (CFP), one chartered financial analyst (CFA) and two chartered financial consultant (ChFCs). The firm counts individuals, high-net-worth individuals, pension plans, charitable organizations and corporations as clients.

XPYRIA maintains an account minimum of $1 million, although exceptions can be made in the firm’s discretion. XPYRIA is also a fee-only firm, meaning it earns income only from charging clients management fees.

XPYRIA Investment Advisors Background

XPYRIA Investment Advisors was founded in 1990. John H. Cummings, Jr., Joseph G. Salpietro and Bret J. Stutzman each own 28% of the firm, and Michael B. Giammatteo owns the remaining 16%.

The firm provides investment management services and financial planning services, which may include creating a wealth plan, analyzing cash flow and providing retirement planning analysis.

XPYRIA Investment Advisors Investment Philosophy

XPYRIA acts as a managers of managers, selecting third-party managers of separate accounts or mutual funds to manage client assets. The firm decides what assets to send where according to asset allocation strategies it develops for each client individually. 

Third-party managers are evaluated both quantitatively and qualitatively, and the firm attends conferences, consults industry resources and conducts face-to-face interviews with managers to determine the best destinations for client assets.

Hunter Associates

Hunter Associates

Hunter Associates stands out on this list for not having a set account minimum. The firm serves both individuals and high-net-worth individuals, with individuals making up a slightly greater percentage of the firm’s client base.

Hunter Associates has three certified financial planners (CFPs), two chartered financial analysts (CFAs), eight accredited investment fiduciaries (AIFs), one accredited wealth management advisor (AWMA) and one certified public accountant (CPA) on staff.

Also of note is that Hunter Associates is a fee-based firm. Certain employees of the firm are also representatives of a broker-dealer, an investment advisor and/or insurance companies, and they may receive commissions for the sale of related products, in addition to how much they make as advisors. However, as the firm is a fiduciary, its advisors are legally bound to put their clients' best interests ahead of their own.

Hunter Associates Background

Hunter Associates has been in business since 1992. The independent wealth management firm is principally owned by Hunter Associates Holdings LLC. Hunter Associates says its founder, David Hunter, created the firm "with a strong emphasis on identifying and achieving [its] clients' financial goals through a combination of brokerage and investment services."

That emphasis is the firm's mission today as it guides its clients through establishing an investment plan and creating an investment philosophy.

The firm's services include individual portfolio management and financial planning. Uniquely, the firm offers two types of financial planning: Strategic Plans and Focused Advice. Its Focused Advice is best for investors with complex financial situations who need tailored advice and planning, while its Strategic Plans are designed for investors who are working towards a certain objective, like estate planning, charitable giving, legacy planning, college funding, retirement strategies or tax planning.

Hunter Associates Investment Process

Hunter Associates' investment approach is a two-step process. First, the firm works with a client to create his or her individualized investment policy, which is focused on determining a portfolios balance between risk and reward and which serves as the general framework for a client's portfolio. After that, Hunter Associates selects securities using research tools and outside sources.

The firm believes in long-term investing, and it says that it typically seeks out "small, sound companies that offer substantial appreciation opportunities." Hunter Associates divides clients' assets into four risk-based categories of investments: conservative fixed-income, conservative, high-grade growth and aggressive growth for appreciation. The firm believes that owning a "carefully selected mixture" of conservative, high-grade growth and aggressive growth for appreciation is "the most appropriate asset allocation to assume risk for incremental reward."

D.B. Root & Company, LLC

D.B. Root & Company, LLC

D.B. Root & Company, LLC offers distinct categories of services, geared toward different types of clients. DBR Wealth Partners serves high-net-worth investors who have at least $1 million in assets, while DBR Next Emerging Wealth serves young professionals who have less than $500,000 in assets. DBR Advisory Services is for investors who are "well into the process of building wealth" and have more than $500,000 in assets. The firm also serves corporate employees and executives through DBR Fiduciary Plan Solutions and Corporate Advisory Services. The firm's services for high-net-worth investors are fee-only, while its Next Emerging Wealth services are fee-based.

D.B. Root & Company boasts perhaps the most diverse range of certifications of any firm on this list. The firm has seven certified financial planners (CFPs), as well as two accredited investment fiduciaries (AIFs), a chartered financial analyst (CFA), a certified plan fiduciary advisor (CPFA), two chartered financial consultants (ChFCs), a certified public accountant (CPA), an accredited investment fiduciary analyst (AIFA), a chartered life underwriter (CLU), an accredited asset management specialist (AAMS), a registered paraplanner (RP) and a certified 401(k) professional (C(k)P). The C(k)P designation, a relatively new certification that takes one to two years to earn, is particularly helpful to investors who want advice on their company 401(k)s or other contribution plans.

Certain representatives of the firm are licensed insurance agents or representatives of a broker-dealer, and they sell products on a commission basis. However, because the firm is a fiduciary, its legally required to put its clients bests interests first.

In 2017, Advisory HQ named the firm one of Pittsburgh's top 10 financial advisors. 

D.B. Root & Company, LLC Background

Founded in 2015, D.B. Root & Company, LLC is tied with No. 2 firm Fort Pitt Capital Group, LLC for the title of newest firm on this list.

Alongside its investment and wealth management services, D.B. Root & Company offers a range of consulting and financial planning services, including:

  • Business planning
  • Cash-flow forecasting
  • Trust and estate planning
  • Financial reporting
  • Investment consulting
  • Insurance planning
  • Retirement planning
  • Risk management
  • Charitable giving
  • Distribution planning
  • Tax planning
  • Manager due diligence

These services are all available on a standalone basis or in conjunction with investment management for more comprehensive wealth management.

D.B. Root & Company, LLC Strategic AIM™ Asset Management

D.B. Root & Company's asset management process is called Strategic AIM™. The firm's investment committee carries out the process through the creation, management and review of client portfolios, which take into consideration their goals, risk tolerance and life stage. A key part of the investment committee asset allocation process is the Four Seasons Macroeconomic Analysis, which looks at the current macroeconomic climate in comparison to economic growth, inflation and monetary policy.

D.B. Root & Company's portfolios are made up of a mix of low-cost securities, cash, bonds and stocks.

Commonwealth Advisory Group, Ltd.

Commonwealth Advisory Group, Ltd.

Commonwealth Advisory Group, Ltd. has a low account minimum: You'll need just $50,000 in assets to become a client of this fee-only firm. Commonwealth’s clients include both individuals and high-net-worth individuals. More specifically, the firm serves entrepreneurs, executives and pro athletes.

The firm’s staff of just six advisors includes one certified financial planner (CFP) and one chartered retirement planning counselor (CRPC). 

Commonwealth Advisory Group, Ltd. Background

Commonwealth Advisory Group, Ltd. has been providing investment advisory services since 1993. The firm is principally owned by Robert Lohman, who serves as the firm's president, CEO and CCO.

Commonwealth says that its services are designed to address clients' unique situations and goals. It lays out its clients' paths toward their goals in what it calls Longevity Blueprints. The firm offers portfolio management, business consulting and financial planning services; the latter includes tax planning, retirement planning and estate planning. Notably, Commonwealth claims that "nearly all" of its clients use its financial planning services.

Commonwealth Advisory Group, Ltd. Investing

Commonwealth Advisory Group, Ltd. creates its portfolios based on clients' objectives, time horizons, risk tolerances and any reasonable restrictions they wish to impose on their accounts. The firm primarily uses no-load mutual funds, U.S. government securities and tax-exempt bonds, though it may also use individual common or preferred stocks. Commonwealth’s investment strategies focus on the long-term and rely on a buy-and-hold philosophy.

Clients seeking tax efficiency in their portfolios are advised by the firms to consult with a tax professional regarding their investments, as it says its strategies and investments may have "unique and significant tax implications."

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