Retiring in Florida: What You Need to Know
Florida, also known as The Sunshine State, is one of the top retirement destinations in the country. Its year-round warm, sunny climate is ideal for many seniors to enjoy outdoor amenities and excursions year-round. Residents here are referred to as permanent vacationers due to the beauty and fun the state brings. Florida’s a great choice for retirement, but there are a few things you should know about living here before making a final decision.
Retirement Fund Taxes
One of the best aspects of retiring in Florida is the lack of retirement income tax. There is no state income tax at all, which is perfect for retirees who are looking to withdraw their untaxed retirement funds. While you will still need to consider federal income taxes, you’ll pay significantly less on your pre-tax retirement withdrawals.
Cost of Living
When you select a location to retire, you will need to make sure you can afford living costs. Average rent or home prices, utilities, and property taxes (if applicable) are some of the many expenses to consider when selecting a retirement destination. Like anywhere, urban areas such as Orlando or Miami will be significantly more expensive than smaller towns or more rural areas. Beachfront properties will also cost more in terms of both purchase price (or rent) and home insurance premiums. On average, the cost of living in Florida is considered two percent less than the national average, while home prices are on par. Choose your location wisely, and you can enjoy a comfortable retirement here.
Retirement Home Quality
With Florida’s high population of older adults, you won’t find a shortage of retirement homes. From senior apartments to nursing homes, each Florida city has plenty of communities to choose from. In any location susceptible to overcrowding, you’ll want to pay attention to individual reviews and ratings for each community you’re considering. While there are some top-of-the-line retirement home options, there are also some understaffed and overcrowded nursing homes that are best avoided, especially in the most populated retirement communities in the Sunshine State.
Tampa
The west coast of Florida is very popular for retirees. Tampa, in particular, is ideal due to its quieter charm while still boasting proximity to large cities like Orlando. Retirement communities, especially nursing homes, vary in quality due to a large demand for long-term care mixed with a shortage of skilled nurses. It’s important to tour all communities, read reviews, and check official Medicare ratings. Know your rights; if you feel they’ve been violated in any Tampa nursing home, you may want to consult with an abuse lawyer.
Naples
Naples is another town on the west coast of Florida that is a haven for older adults. From beautiful beaches to luxury shopping to high-end golf courses, the city offers many amenities geared toward the retired lifestyle. Although Naples has a high price tag, many retirement communities here are experiencing overcrowding. You will want to thoroughly vet all communities regardless of how much they cost to keep yourself healthy and happy.
Fort Myers
If the cost of Naples dissuades you from living there, you may find sanctuary in Fort Myers, a similarly sized Gulf Coast town. You will find plenty of shopping, eating, beaches, and golf courses here without as steep of a price tag. It is also quite close to Naples, less than an hour’s drive. Due to its affordability, many seniors spend their golden years here. Understaffed, overcrowded communities can lead to sanitation problems or neglect cases, so you’ll want to be careful about choosing long-term care options here as well.
Things to Do
There are plenty of things to do for older adults and any family members who may visit or live here as well. Central Florida has many tourist attractions, from theme parks like Disney World to world-class zoos. Florida is a peninsula surrounded by gorgeous beaches on almost all sides. Retirees, in particular, enjoy the state’s iconic cruises, famous golf courses, and high-class dining options. Whether you want to enjoy the warmth and sunshine or an indoor museum, you’ll have plenty to do.
Climate
Florida is infamous for its hot and sunny climate most of the year. In winter, temperatures can drop mildly, but you won’t have to worry about snow or seasonal changes. While most retirees consider the weather ideal, it can get excessively hot, especially in the summer. Humidity can make the heat feel worse, which older adults can be particularly vulnerable to. The proximity to the equator makes the sun’s rays particularly dangerous, so sun protection is a necessity. Florida’s location makes it a prime target for hurricanes, which can affect home insurance premiums and safety, especially for seniors. If you dislike or are vulnerable to heat or humidity, you’ll need to take precautions before moving here.
Healthcare Quality
Healthcare is extremely important for older adults, as you’ll need more routine care as you age. Florida is home to many high-quality physicians and hospitals. Medicare is widely accepted here, with many doctors dedicated to senior health. However, due to the high prevalence of seniors, insurance rates can be higher than average. Physician waiting periods can also be lengthy.
Overcrowding can reduce quality in some healthcare offices. These issues place Florida slightly below average in healthcare quality.
Conclusion
If you decide to hang your hat in Florida when you retire, you will join millions of other happy and healthy retirees. As long as you make calculated, well-informed decisions, you can avoid most of the drawbacks to living in The Sunshine State, like prolonged healthcare waiting periods or high humidity. Protect yourself from the heat and sun; take breaks and wear sunscreen when venturing outside. Florida is a beautiful place to live, so it can make any retirement beautiful as well.