Are you dreaming of retiring in sunny Florida? It’s a popular destination for retirees, and nearly 20 percent of the population is over the age of 65. With its warm weather and amazing beaches, Florida is a great place to retire. To help you decide, we’ve compiled seven reasons why it’s great to retire in the Sunshine State.
1. Florida Is One of the Most Tax-Friendly States for Retirees
There are plenty of reasons why many seniors choose to move to Florida, and one of them is the low tax rate for retirees. Social security income, retirement accounts, and pension income aren’t taxed, and there’s no state tax, so you just pay federal taxes on any money that you make from working. Property taxes are also about 2% lower than the national average, and Florida’s homestead exemption applies to the first $25,000 of a home. Some seniors over the age of 64 qualify for an additional exemption of up to $50,000.
2. There Are Plenty of Attractions for You to Visit All Over Florida
Florida’s weather and location make it a perfect place for all kinds of attractions, no matter what kind of thing you’re interested in. It’s great for sports fans; Florida as a state hosts three NFL teams, two MLB teams, two NHL teams, and two NBA teams. On the other hand, if you’d rather your day be educational, you can visit the Kennedy Space Center or Dry Tortugas National Park. Not interested in either of those? Florida is also a hub of art and theatre, with routine events at Pensacola’s Saenger Theater, the Salvador Dali Museum, and St. Augustine’s historic district, which houses the mythical “Fountain of Youth” that Ponce de Leon found nearly 500 years ago. Did we mention amusement parks galore?
Of course, with thousands of attractions, it means dealing with tourists when you retire in Florida. With how nice the weather is, this should almost be expected, but it should still be mentioned. In 2022, more than 137 million people visited Florida! It’s great for the economy and can be fun if you like the hustle and bustle but might not be great if you prefer the quiet.
3. The Weather in Florida Is Lovely, Especially During Winter Months
In the summer, it can be a little warm, and some people definitely aren’t used to the humidity that comes along with that heat in a state so close to the ocean. However, that may be offset by how nice it is during the winter — even in the dead of winter, the average daily high is around 70 degrees and is rarely lower than 50 degrees. It’s a selling point for tourism, and locals will brag about it if you ask. There’s a reason Florida is known as “The Sunshine State.”
4. Both In-State and Interstate Travel Is Easy in Florida
Florida has a great public transit system, which is constantly being worked on by the Florida Department of Transportation to be even more accessible. It’s also great for interstate or even international travel; there are international airports all over the state, as well as plenty of domestic ones.
5. Comparatively Speaking, Florida's Cost of Living Isn't Bad
Though it’s not exactly the cheapest state in the nation, Florida isn’t so expensive that you’ll raise your eyebrows. The cost of living in Florida is about one percent higher than the national average. Compare that to California, which is 39 percent higher than the national average, or New York State, which is 31 percent higher than the national average.
6. When You Retire in Florida, You'll Enjoy a Variety of Leisure Activities
It’s well-known that Florida is a great place to be outside and soak up some of that Vitamin D. But the great thing about it is, those activities are accessible to people of all ages, incomes, and abilities. There are gorgeous beaches, calm, quiet fishing, and even kayaking and canoeing in spades! And let’s not get started on the countless golf courses.
7. Communities Exist All Over Florida for Retirees
Because roughly 20 percent of the population is over the age of 65, Florida has a variety of options for retirees. Whether you are interested in an independent living community like the Villages, a condo in a coastal city, or an assisted living community, you’ll be able to find a place that suits your needs throughout the state.
