7 Things to Know about Retirement in Florida

Did you know that Florida has the largest number of aging adults? A whopping 19% of Floridians are 65 and older. That means if you’re planning on retiring, the sunshine state might be a good option for you.

Before you make the big choice, there are a few things you should know. Read on to discover 7 things you should know about retirement in Florida.

1. Health Care

As we age, health care becomes more and more important. When you retire in Florida, you’ll enjoy some of the best healthcare facilities in the nation.

That’s in large part because there are so many aging adults in Florida. Due to that, healthcare facilities will be equipped to handle your needs.

2. Affordable Living

Once you’ve reached retirement age, the cost of living seems like a lot to bear. There’s good news, though. In Florida, homes are often more affordable than in other coastal states.

3. Bye Bye Income Tax

If you’re going into retirement, your income stream will change. Your income will likely stem from social security benefits, IRAs, 401(k)s, or pensions. One big reason to move to Florida is that there’s no income tax!

That means more money in your pocket where it belongs.

4. No More Worrisome Estate or Inheritance Taxes, Either

Are you concerned about your loved ones paying taxes on what you leave to them after you pass? Many are unaware that the federal government’s estate tax can range from 18-40%. On top of that, states have their own taxes, too.

Luckily for Floridians, the sunshine state doesn’t have an estate tax. There’s no inheritance tax, either. You can rest assured knowing that your loved ones will get what they deserve after you pass.

5. Warmer Days

If you’re older, then you know how difficult it is to stay active. Often, good weather can help encourage you to get outside.

That’s why moving to Florida is a great choice for older adults. Almost every day will be sunny and bright.

6. More Adventure

Did you think Florida was one giant beach? While the beaches are amazing, there’s plenty more to explore in the state. If you love adventure, then here’s what you can find in Florida:

  • Disney World
  • Orlando Studios
  • Everglades National Park
  • Kennedy Space Center
  • Daytona 500 International Speedway
  • Dry Tortugas National Park
  • Duval Street

In a nutshell, you’ll get to have more adventures without having to travel too far.

7. Diversity and Inclusion

Have you ever wished to live in a community full of diversity and inclusion? If so, then Florida is for you. Not only are aging adults welcomed, but so are many others from all walks of life.

Are You Dreaming About Your Retirement in Florida?

With the above things in mind, are you still dreaming about retirement in Florida? If so, then there’s no reason to keep on fantasizing. Act now, and you can start to turn your dreams into reality.

Here at Palma Sola Bay Club, we’re ready to help you secure a move-in ready home. Contact us today to schedule a tour or inquire about our residences.