Retiring in Florida is my long desire, even though it is many years from today.
What are the negatives of retiring in Florida?
Getting a community to fit in may be the first challenge to face.
On the other hand, Florida is a
retirement destination
.
Senior citizens, who want a place to rest, relax on white sandy beaches, and have luxury retirement spend their retirement age in Florida.
This is how the state has been for a long time, and the reputation is well deserved.
About 17.
3% of the people who visited the state in 2010 were over 65.
This is the highest any state has ever recorded in the country.
What are the negatives of retiring in Florida?
You may find it difficult to get a quiet and secluded place to live in Florida.
Getting any community that will give you everything you may require as a retiree may be difficult.
What Are The Negatives of Retiring in Florida?
There will be issues with creating a nearby support system for the aged if you require some privacy as you retire to Florida.
The state has lots of
retirement communities
with so many retirees.
You may see them as overcrowded and busy most time.
Even among many people, you will feel very lonely if you do not blend well with other retirees.
The sales tax must be managed to protect your retirement income.
If you retire in Florida, you will be exempted from paying state income tax.
However, you will be charged a 6% sales tax.
Generally, you will be paying a sales tax of 7.
5% anytime you purchase because most communities also have sales tax.
This tax may deplete your income, so the best you may do is to shop for groceries and stay at home most time if you are living on a tight budget.
Florida tax authorities access property tax 100%, so it is almost impossible for a retiree to own a home.
The Costs of Living
The costs of living in Florida will continue to rise.
The cost of houses is always increasing and is affecting the cost of living in the state.
This means you will experience a rise in the cost of
things after you retire to Florida
unless you intend to sell your house in Florida someday and move away.
Notwithstanding the homestead exemption given to retirees, you will still spend a good percentage of your retirement income on your house.
This is why many people choose to rent accommodation in Florida instead of buying homes.
As a result of these expenses, with time, your family will stop visiting.
Some families used to keep and maintain contact and still visit a few times a year, yet most retirees see the visits as disturbing for some years before they will stop.
This will sever your relationship with your grandchildren.
Is it worth retiring in Florida?
Yes it is worth retiring in Florida.
You will save much of your retirement income in Florida because of the tax-friendliness of the state.
The state of Florida does not charge state income tax.
Retirement income or Social Security benefits are tax-free in Florida
as well.
It may sound odd to
consider retiring in Florida
, but there are many good reasons you will choose to retire in the Sunshine State.
If you are new to Florida, another name for the state is “The Sunshine State”.
Sun shines in the state for an average of 230 days annually.
The state’s climate is subtropical, with warm summers, mild winters, and temperate springs and falls.
The months of May to October are months of the rainy season.
You will have an abundance of sunshine if you retire in Florida.
The range of winter temperatures
in the state is the 40s in Tallahassee and mid-60s in the Keys
.
Winter is mild in all
parts of Florida
, and sunshine is abundant everywhere, too, so it makes no difference where you retire to in the Sunshine state.
Tax breaks for seniors
The state of Florida is very tax-friendly to retirees, so if you retire in Florida, you have a good part of your retirement income saved.
Floridians do not pay state income tax, and retirees are not charged tax on their retirement income or Social Security benefits.
No tax is charged on estate or inheritance, and property tax is low.
This is the reason the state appeals to senior citizens.
Famous white sand beaches
The beaches of Florida are the best places to be in the world.
There are 1,200 miles of coastline in Florida, running from the Gulf Coast to the Atlantic Ocean.
The
beaches of Florida
are rich with soft, white sand, gentle breezes, and sun.
The U.
S.
News and World Report rated
Sanibel Island
the best beach in Florida.
The beach has calm shores and lots of shells.
As a retiree in Florida, you will enjoy walking on the beach, playing on the sand with your grandchildren, or going to visit Sanibel Island’s 19th-century lighthouse.
Destin beach
is an active beach in Florida many people love to visit.
Destin is a pocket-friendly beach
town with shopping, dining, and water sports opportunities for visitors’ delight as they watch dolphins and sea turtles.
Social life
Any senior citizen that retires in Florida will be active and social.
This is because the state is attractive to other senior citizens from other states of America.
There is a higher probability that retirees will make friends faster, share their new experiences, and get adventurous together.
Active lifestyle
Retiring in Florida will give you a great opportunity to rest and relax.
You will also have the opportunity for outdoor activities.
With the high-octane airboat ride, you will explore the Everglades National Park.
Go to Crystal River to dive with the manatees
.
At Looe Key National Marine Sanctuary, you will see amazing coral.
You can go horse riding expedition to the stunning beauty of Amelia Island.
Anyone with an active lifestyle has the climate, beaches, and the national park beaconing on him.
As a senior citizen, hiking, surfing, running, swimming, and more activities will help your golden age.
FAQs
What is the downside of living in Florida?
Florida has heat, humidity, sales taxes, and severe weather
Do you pay federal taxes on Social Security in Florida?
Yes, you can pay federal taxes on Social Security in Florida if you have other substantial income in addition to your benefits.
Do elderly pay property taxes in Florida?
Yes, but it depends on certain requirements.