It’s no secret that Florida is the prime location for retirement. Between the great weather and variety of outdoor activities, there is no shortage of fun when you retire in Florida.
However, you shouldn’t pick a place to retire based solely on those factors. There are many elements to consider when you are making plans for retirement. If you do your research, you can ensure a smooth and carefree transition to retirement.
To help you out, we’ve compiled a list of nine undeniable reasons to retire in Florida.
The 9 Undeniable Reasons to Retire in Florida
Florida was not just randomly chosen as the top retirement destination. There are rational explanations as to why people choose to retire in Florida. So, let’s dive right in.
- Every Day Is A Paradise
Have you ever heard the saying, “A bad day in Florida is still better than a good day anywhere else”? You should know that it holds true!
The beautiful, white sandy beaches that outline the state are some of the best in the country. With 1,800 miles of coastline, Florida offers prime waterfront access. Whether you prefer the Gulf Coast or the Atlantic Coast, you just can’t beat the Florida beaches.
In addition to beaches, Florida’s unique wildlife and geography make it a fascinating place to explore. Boasting over 11,000 miles of rivers, streams and waterways, Florida is also home to 161 State Parks and 11 National Parks. The Everglades National Park alone includes over 1.5 million acres of protected land.
So, it is no wonder that Florida is a top vacation AND retirement destination.
- Financial Benefits
Most people start to plan for retirement at an early age, so they are conscious of how their money is being spent. If you decide to retire in Florida based on the state’s natural beauty and climate, you are also making a financially responsible retirement decision.
Although the beaches and active outdoor lifestyle are good reasons to retire in Florida, the many financial benefits are really what draw people in. Here are the main financial reasons why you should retire in Florida.
No State Income Tax
One of the main reasons that people retire in Florida is that it is a very tax-friendly location for seniors because there is no state income tax. Only a few states in the U.S. do not have a state income tax, which makes Florida a highly desirable place to live.
Retirement Income is Exempt
In addition to having no state income tax, another financial incentive for Florida retirees is that retirement income is also exempt from state taxes.
Moreover, people do not get taxed on Social Security benefits, IRAs, 401(k)s, pensions, and other retirement-related incomes. Therefore, the financial advantages of living in Florida make it an enticing place to retire.
Homestead Exemption
Florida’s homestead exemption means that if your permanent residence is in Florida and you owned it on January 1st of that tax year, then you are eligible for a $25,000 exemption on the first $50,000 of your property’s assessed value.
Sounds appealing right?
- Active Lifestyle
Although Florida is known for its relaxing beaches and atmosphere, it is an active hub for people of all ages. Since the Gulf of Mexico and Atlantic Ocean stay relatively warm all year round, water sports, boating and other activities are always popular.
And, as you probably expected, Florida has the most golf courses in the U.S. with over 1,250 active courses across the state. Tennis is also very popular, along with pickleball which has exploded in popularity in recent years.
- Average Cost of Living
Another addition to the long list of financial benefits of retiring in Florida is the average cost of living, which remains relatively low compared to other states.
- Warm Weather
They don’t call it the Sunshine State for nothing! Florida’s tropical climate makes it the perfect place for snowbirds to settle down. Considering that the state’s average amount of snowfall per year is zero inches, you will not have to worry about shoveling snow or salting the roads.
With mild winters and more than 230 days of sunshine per year, Florida is ideal for retirees looking to put their winter coats away for good. The warm weather can also provide you with more energy, improve your memory, and lower your blood pressure.
- Health Care
Since the percentage of residents over the age of 65 is 21.3% of the population, Florida attracts many of the world’s best geriatric medical professionals. So, you can rest easy knowing that your health is in good hands.
Also, there are health benefits that accompany retirement in Florida, such as sufficient vitamin D intake and year-round outdoor exercise activities. Plus, a little relaxation is good for the soul.
- Culture
There is nothing quite like the Florida way of life. Since it is such a popular destination for travel and migration, Florida is a melting pot of different cultures.
The historical aspects of Florida also make it an interesting place to live. Spanish admiral Pedro Menedez de Aviles was the first European explorer to discover Florida when he reached St. Augustine in 1565, and now that city is a top tourist destination because of its history as the oldest city in the US.
With over 400 museums plus an abundance of live theatre, opera companies, orchestras and art galleries, Florida has a little bit of everything.
- Entertainment
Obviously, there is no shortage of fun entertainment in this state. Florida has some of the best theme parks in the world, including Disney World, Universal Studios & Islands of Adventure, Busch Gardens, and more.
Plus, Florida residents often get discounts on these parks. Whether you’re taking your grandchildren to see the magical world of Disney or you just want to feel like a kid again, Florida’s theme parks are the perfect getaway.
Not to mention, the abundance of professional sports makes it easy to root for your favorite team. Football, baseball, hockey, soccer and basketball are just a few of the sports that Florida fans can enjoy during the year.
- Amazing 55+ communities
With such a high concentration of older adults, there are plenty of active adult lifestyle communities to choose from. In fact, there are more than 650 retirement and 55+ communities statewide, which is why so many people decide to retire in Florida.
These communities help older adults create genuine connections with their peers. The convenience of having close friends as neighbors, or being able to meet down by the pool for a drink, is priceless.
Get the Retirement of Your Dreams
As you can see, there are many reasons to choose Florida as your retirement destination. With the combination of great weather and financial benefits, Florida really does have it all.
If you are looking to retire in Florida, Minto Communities has homes that perfectly suit whatever lifestyle you prefer. With premier locations in Naples, West Palm Beach, Daytona Beach, and Watersound in the Florida Panhandle, you can live your retirement dreams in a beautiful home from Minto.
To find your perfect dream home, Contact Minto Communities today!
