how much money do you need to move to florida

I Am A Big Nature Lover — Where Should I Live? The following areas in N. Florida are Popular Destinations. We've all seen the signs of Florida's population growth: more housing complexes But for many moving to Florida, it comes down to money. › Blog.

Thematic video

Moving from New York to Florida – Advice for Your NY to FL Move

Florida consistently ranks as one of the top inbound states, meaning that more people move into the state than out of it each year. In fact, estimates show that nearly 1,000 people relocate here each day! Reputed as a top destination for retirees (especially those from the North), Florida is also famous for its warm weather, lack of income taxes, and thriving economy, among other things. If you’re thinking of following the popular trek from New York to Florida, here’s our advice to prep for your long distance move South:

What to Know Before Moving to Florida from NY

1. Florida Has Strange Weather

The gorgeous weather is one of the primary factors that attract people to Florida. Although Floridians enjoy sunny weather most of the year, this state is prone to thunderstorms as well as tropical storms and hurricanes that blow in from the Atlantic. It is also important to note that Florida can experience extreme temperature fluctuations and high humidity.

2. It’s a Zero Tax State

If you hate paying taxes, then you will love living in Florida. The Sunshine State is one of just seven states that does not assess a state income tax. And while the cost of rent and utilities is slightly higher than the rest of the country, overall, the cost of living here is relatively low (especially compared to New York City).

3. Public Transportation is Limited

If you zip around New York on the subway, be aware you will need a car to get around most of the places in Florida. However, some cities do have decent transit systems. If you rely on public transportation, consider living in Miami, which scores well not only for transit but also gets high marks for walkability and bike-ability.

4. Buying a Home Might Be Easier

The average cost of a home in Florida is around $200,000, which is slightly higher than the national average. However, it’s still a lot more affordable than purchasing a home in NYC, where the median home price exceeds $600,000.

5. Florida Boasts Lots of Outdoor Attractions

If you love spending time outside, then Florida’s an excellent choice for you. Not only is Florida home to 1200 miles of sandy beaches on both the Atlantic and Gulf Coast, but it also boasts 160 state parks and three national parks. Here, you can enjoy activities like hiking, kayaking, camping, swimming, fishing, and more practically year-round. Additionally, Florida has several other fun attractions including Disney World, Sea World, and Universal Studios.

6. It Has a Strong Economy

Not only is Florida a great place to play, but it’s also a great place to work. As of October 2017, Florida’s unemployment rate was just 3.6%, or .5% lower than the U.S. unemployment rate. Thriving international trade, tourism, space, agriculture, construction, and service industries bolster the state’s healthy economy. If you’re looking for somewhere with abundant job opportunities, Florida is a fantastic option.

Top 5 Cities in Florida to Call Home

If you’re looking to relocate to Florida from New York, you may be curious about which metropolitan areas are best. You know you love the weather and the relaxed, vacation-like vibe in the state, but what about home prices, communities, and school districts? Here are the top 5 cities in Florida to call home:

1. Miami Beach

With approximately 90,000 residents and a fabulous, fun history, Miami Beach, part of the larger Miami metro area, is the perfect place to settle down. You’ll enjoy great restaurants, access to entertainment, and safety in this waterfront city. From South Beach to Biscayne point, Miami Beach has several vibrant communities to call home. Each neighborhood has something different to offer, so you’ll be able to find the right fit for your lifestyle. The median house price for Miami Beach is $387,400, making Miami Beach an affordable option for relocation.

2. Tampa

On the other side of the state, Tampa is a small city with lots of potential and lovely Gulf Coast beaches. With approximately 335,000 residents, it’s a little more than three times the size of Miami Beach population wise. It’s also been ranked consistently as one of the top places to live in the country. In Tampa, you’ll find easy access to excellent healthcare, great food, and affordable prices. The cost of living is less than half of what you’ll pay in Miami Beach, with a median home price around $175,000.

3. Orlando

Orlando is not just a tourist favorite; it’s a resident favorite, too. With excellent school districts and proximity to some of the best amusement parks and entertainment in the world, Orlando is a solid choice for relocation. The median home price in Orlando is just $181,900. With a population of over 277,000 residents, Orlando has a thriving local community.

4. Naples

If you’re looking for fantastic shopping and a relaxing, older community, Naples is a solid choice This small town of 21,000 residents sits about 40 miles south of Fort Myers, near the Southern tip of the state. Residents here enjoy proximity to the Everglades National Park, miles of white sand beaches, and beautiful weather for outdoor pursuits. Celebrity sightings here are common as many rich and famous people maintain homes in this picturesque area. However, you don’t have to be well-off to afford to live in paradise; the median home price in Naples is $328,000. If you’re looking for big city convenience with small town charm, you’ll find your ideal home in Naples.

5. Coral Gables

For access to top education, top hospitals, and utmost luxury, Coral Gables is a prime destination. The median home price in Coral Gables is $754,500, but the high price tag is not unwarranted. Home to just over 50,000 residents Coral Gables has a highly educated population, many of whom work, attend or are alumni of the nearby University of Miami.

Regardless of where you choose to relocate to in Florida, there’s a town for every budget and lifestyle. Some advantages in moving from New York to Florida include lower cost of living, no state income tax, and a moderate climate. Becoming a permanent snowbird is nothing to be ashamed of. But consider picking a home with extra rooms for guests as your friends and family members will be eager to visit you down South.

Tips for a Successful Interstate Move from FL amazon na moment NY

You’ve done it. You’ve decided to move from snowy New York to sunny Florida. Before moving day rolls around, here are some tips to make your transition from cold to hot more comfortable and safe.

Schedule Your Moving Company

It’s never too early to start planning the logistics of your move. If you want to skip driving a rental truck the more than 1000 miles from New York to your destination in Florida, now’s the time to book a long distance moving company. No matter who you hire, make sure they are licensed with the US DOT and carry insurance to protect your goods.

A licensed, interstate moving company, Imperial Movers frequently helps New York City residents with out of state relocations, and New York to Florida is one of our most common routes. If you book your move with us, we’ll send an in-home estimator to assess your moving costs, then provide you with a free quote for your move. We’re here to make your Florida relocation seamless.

Purge Your Old Wardrobe

When you arrive in Florida, and it’s already 90 degrees, you won’t want to stress about finding just the right style on a tight schedule. Take your time and research the best warm-weather clothing for you and your family beforehand. This forethought will save you money and help you feel better.

Before your move, go through your closet and dresser and purge all that cold weather clothing you’ll no longer need. Reducing your wardrobe before your relocation will help you cut moving costs, and will make getting organized in your new home much easier.

Let the Packing Begin

Once you’ve downsized your belongings, it’s time to start packing! About a month out from your move date, gather boxes and moving supplies, then start boxing up your least used items. We always recommend packing out-of-season clothing, décor, books, and other non-essentials first. As the moving day draws near, you can pack the rest of your closet and tackle the kitchen and bathrooms.

Label Everything

As you pack, make sure you take the time to create labels for each box that describe what’s inside. This step not only helps the movers know where to unload boxes, but it will also help you stay organized as you unpack.

Prepare for the Sun

While living in New York, sun protection probably wasn’t on the top of your to-do list. As you finish packing, make sure you throw some sun protection in your essentials bag. For the ultimate shield from harmful rays, the Florida Department of Health recommends wearing a hat, sunglasses, and long sleeves along with broad-spectrum sunscreen.

Make Sure Your Vehicle is Ready

Before embarking on your cross country move, be sure to get a tune-up for the road trip ahead. Experts recommend topping off fluids, checking your tires and wiper blades, and performing other necessary services (like an oil change or tire rotation).

Your vehicle is essential to your active life. When you move to Florida, make sure to pay attention to your car or truck’s needs after you arrive. You will need to top off your fluids more often and ensure that you have sunscreens that block the sun’s harmful rays while driving and when you are parked.

Pack an Essentials Box

If you’re passing your belongings off to a moving company, it may be a few days or longer until everything arrives at your new home. For the interim, pack an essentials box or bag with the things you’ll need to survive. This bag could include several pairs of clothing, toiletries, linens, a blow-up mattress, and a few kitchen items.

Get Used to High Utility Bills

Living in New York, air conditioning isn’t all that crucial. In Florida, however, having a good AC system is a matter of survival. In most parts of Florida, you’ll be running your air conditioning unit most of the year. Warmer weather means higher utility bills throughout the year and more frequent servicing and maintenance as well. Ask your realtor or first guaranty bank phone number which company they recommend for assistance you when you arrive.

Carry a Water Bottle

The Institute of Medicine reports that about 75 google play store gift card codes india of Americans don’t drink the recommended eight cups of water daily and are chronically dehydrated. Don’t become a victim of heat exhaustion or a heat stroke. In a warm climate like Florida, you will want to drink plenty of water at consistent intervals throughout the day. This recommendation is especially true when the temperature rises to 90 degrees and above. You also might want to avoid hot drinks like coffee; opt for iced coffee instead.

Have a Plan for Unpacking

After your load arrives, the task of getting everything unboxed and organized might feel daunting. Instead of panicking, devise a systematic plan for unpacking, one room at a time. Start with the most important spaces, like your kitchen, bathroom, and bedroom, before moving on to secondary places, like the office, spare guest room, and living room. As you unload each box, break it down and move the cardboard and other packing supplies to another area so they won’t clutter your workspace. Before you know it, you’ll be unpacked and ready to enjoy life in Florida!

Following these tips for your move will help you arrive in Florida in style and thrive in its inviting, warm climate. We wish you the best in this new phase of life for you and your family.

Cost of Moving from New York to FL

The average cost of moving from New York to Florida is between $1000-$5000. The actual cost of hiring a NYC to FL moving company will depend on several factors, including:

  • Distance: The drive between New York City and Central Florida is approximately 1,135 miles. Getting to Key West, the very Southern tip of the Sunshine State takes another 327 miles of driving. Your moving quote will consider the distance between your origin and destination zip codes.
  • Size of home: The shipping weight and volume determines the cost of long distance moves. The larger home you have and the more belongings you take, the more expensive your interstate move.
  • Time of year: Rates are typically higher during the peak summer moving season when moving companies are in high demand.
  • Moving services: Do you need moving supplies and help with the packing? Or do you just need movers to load your already-packed boxes and furniture onto a moving truck that’s driving South. The scope of the moving services you require will also factor into your moving costs. 

The best way to find out the total cost of your move is to contact Imperial Moving and Storage. We are a fully-licensed, insured, and bonded New York City moving company offering affordable interstate moving services. Contact us today for a FREE NYC to FL moving quote!

Professional Movers from NYC to FL

Whether you’re planning a move from New York City to Miami, Tampa, or another part of sun-kissed Florida, Imperial Moving & Storage is here for you every step of the way! A full-licensed interstate mover, we offer the following moving services to make your out-of-state move a breeze:

  • Residential movers: Moving your home from NYC to FL requires lots of planning and coordination. Imperial is here to ensure your household relocation goes smoothly, so you can settle into your new Florida residence that much faster. 
  • Commercial movers: Relocating your business from New York to Florida could have some huge upside, but if getting the job done sounds like a huge headache, give us a call. Our team can help you navigate your state-to-state office relocation with ease, so you can get back to business-as-usual sooner.
  • Specialty moving company: Wanting to take your valuable art collection or your prized grand piano with you when you move South? Make sure your treasured items make it safely to your Florida home with Imperial’s specialty moving services.
  • Last minute mover: From a short notice job transition to a family emergency, there are plenty of reasons you how much money do you need to move to florida face a last minute move. Transitioning your life quickly comes with loads of stressors, but the burden of moving doesn’t have to be one of them. Leave the heavy lifting to us, while you iron out the rest of your relocation details. 
  • Storage: Convinced moving to Florida is the right move, but not sure where you’re living yet? If it’s time to move out of your NYC home or apartment and you still need time to hammer out some details, we can help. Our crew will come pick up your belongings and place them in a secure storage facility until you’re ready to complete your relocation.
  • Full-service relocations: If you don’t have the time or capacity to pack up your home, we can assist. Imperial Moving offers full-service moving solutions to simplify your move to Florida. We come equipped with everything from bubble to wrap to boxes to pack up your home for your move. You don’t even have to lift a finger!  

Prepare for your Florida move with the help of Imperial Moving & Storage. Contact us today using the quote form or by giving us a call to receive your FREE New York to Florida moving estimate!


Moving to Florida is not affiliated with, owned, or operated by the State of Florida and is not endorsed or approved by the State of Florida. Visit

Information for new and prospective Florida residents including:

Moving to Florida

Living in Florida

Florida Relocation Information

  • Drivers Licenses & Motor Vehicle Registration
    Get information on becoming a licensed Florida driver and registering your vehicle.
  • Florida First Time Driver Course (New Drivers)
    Take the required Drug & Alcohol Course online and you will have the option to take a learner's permit test and driver's license prep online at the end of the course. This course and exam are required for all first-time drivers in Florida prior to receiving your first driver's license. Avoid unnecessary wait time standing in line at your local driver's license office when you complete your course online and schedule your DMV appointment online after your course.
  • Employment — Finding a Job in Florida
    This is your one-stop shop for information related to getting employed in Florida, from job search centers to labor laws.
  • Find a Home — Florida Real Estate Information
    If you're looking for a home in Florida, let us do the work for you! Just tell us where you want to live and the type of home you're in the market for, and we'll help you find the perfect property.
  • Real Estate Listings
    Search through listed properties by map, city, ZIP code, or MLS info.
  • Florida Tax Information
    Get an explanation of the different taxes in Florida, such as the sales tax, property tax, homestead and other exemptions, corporate income tax, and more.
  • Schools — Selecting Schools — School Performance
    See more information on school choices in Florida, as well as the school system overall.
  • Starting & Operating a Business in Florida
    Discover the different kinds of business run in Florida, how to start them, and the laws that apply to them.
  • Residency Information
    Read about what it takes to legally be considered a Florida resident and all of the rights and privileges that brings.
  • Facts on Florida
    Find out the background on the state of Florida, from its history and archaeology to its census information and state symbols.
  • Florida Communities
    Get information on 55+ and retirement communities (Cocoa, Daytona, Florida Keys, Fort Lauderdale, Ft. Myers, Gainesville, Jacksonville, Miami, Naples, Orlando, Pensacola, Sarasota, St. Petersburg, Tallahassee, Tampa, Vero Beach, and more.)
  • Weather & Seasons
    Learn the general weather trends in Florida, along with information about hurricane season.
  • Cost of living comparison
    Compare the cost of living between Florida and other states, as well as between specific cities, with this salary calculator.
  • Consumer Topics:
    Homestead Exemption
    Insurance Information
    Intangible Tax
    Jury Duty
    Marriage Licenses
    Probate & Estate Information
    Property Taxes
    Sales Taxes
    More Topics.

Contacts & Local Information:

Florida Chambers of Commerce – Offices

Florida Cities

Florida Counties

Business Guide

Business Guide

Need More Info?
Click Here!


What You Need to Know About Relocating to Florida

White sand beaches and tax incentives have people turning to the Sunshine State. And not just the traditional retirees—remote workers nowhere near retirement are also considering making the move. Because if you have to socially distance yourself, you might as well have balmy winters to keep you company, right?

But why Florida?

As appealing as warm afternoons on the beach sound with winter here, there are things to consider when it comes to relocating to Florida. What do you need to know before buying a plane ticket?

The Siren Song of Tax Incentives

Many states across the country are currently operating at a deficit and the loss of income taxpayers to greener pastures, so to speak, is driving an increase in those state’s residency audits. By and large, rules haven’t changed but states are getting more aggressive and fewer exceptions may be made than in the past.

Florida is one of the few U.S. states with no state income tax, so it’s no surprise that people from the high-income tax states are among the top relocators. The Tax Cuts and Jobs Act (TCJA) has left some people looking to improve their tax position.

Before the TCJA, individuals in higher-taxed states were able to benefit from State and Local Tax (SALT) deductions on federal income tax forms. But now the TCJA limits the SALT deductions to $10,000 annually. SALT deductions have historically represented big tax breaks for individuals who itemized their Schedule A deductions. For those in high-income tax and property tax states, this has been a big hit.

But to see these tax benefits, one has to officially change their state of residence. For those planning on splitting time between Florida and their previous state, there are a few important factors to weigh—and a few things to watch for.

Where is Your Domicile?

When making the move to Florida, your goal is to establish Florida as your domicile, or how much money do you need to move to florida permanent home. The “facts and circumstances” behind your move to Florida plays a key factor when proving that you’re a Florida resident in the event of a state residency audit.

Although you may own more than one home, you only have one domicile. What does that mean? It’s the place a person calls home and intends to reside indefinitely—and whenever the person leaves that home, where he or she intends to return.

Because establishing domicile can be ambiguous at times, states may take a hard look at several factors. They consider the size and nature of use of your home, where is your time spent, your business involvement, your personal connections, and location of items “near and dear” to you.

There are also some additional ways to document your domicile in Florida including filing a declaration of domicile at your county office, obtaining a Florida driver’s license, registering to vote in Florida, and several others.

Moreover, domicile is impacted by your reasons for moving. But domicile is only one piece of the puzzle. Statutory residency may need to be considered.

There’s No Place Like Your Statutory Residency

The nomadic lifestyle is increasingly common. In the U.S., 4.8 million independent workersdescribe themselves as digital nomads according to a report by MBO Partners. Yet if you’re bouncing back and forth between locations, you may risk having the status of “statutory resident” bestowed on you.

Definitions of “statutory resident” vary from state to state. Some states consider you a statutory resident, at least for tax purposes, if you spend more than half the year or 183 days in the state. Some states lack specific rules, but consider someone a resident if the state considers them to be there for more than temporary reasons.

And that statutory residency status could very well come knocking with an unexpected tax bill in hand. More specifically, it can mean being taxed on all your income, including capital gains, dividends, and interest income.

How do you avoid being classed as a statutory resident? Know the rules of your state and follow them carefully.

Real Estate, Estate Tax, and Other Factors to Consider

Establishing a domicile in Florida and establishing residency is a complicated process. Ideally, you can make a clean break by selling all real estate, moving all business activities, and fully investing in your life in Florida by buying a home in Florida. This is the best way to indicate intent to make Florida your domicile.

Along those lines, be cautious of how you handle any real estate sales you may initiate — you want to take advantage of the capital gains exclusion on the sale of your primary residence. To do this, the home you are selling must have been your primary residence for two of the last five years. For example, if you’re selling your New York residence in year five of claiming Florida residency, you would not be able to take the capital gain exclusion since the New York residence would have been your primary residence for only one year in the last five years.

If you choose instead to maintain multiple properties between Florida and another state, you’ll want to keep detailed records of financial transactions and travel plans to document where you have been in the event you are audited by the state.

You’ll also want to consider estate taxes when you’re considering relocation to Florida, especially if you are at or near retirement age. Florida, as you may know, doesn’t have an estate tax, but your current state may. It’s important to update your estate plan to reflect Florida’s laws upon establishing domicile in Florida.

Relocating to Florida may sound dreamy—white sand beaches and tax breaks are a great combination. However, it takes some careful planning and strategy to avoid an unexpected chase freedom credit card interest rate bill. Consulting with an experienced tax professional is a helpful step before making any plans.

This column does not necessarily reflect the opinion of The Bureau of National Affairs, Inc. or its owners.

Author Information

Connie Eckerle is a member of the Smolin Lupin and a licensed Certified Public Accountant in Florida and Georgia.


Our Guide For Those Considering A Move To Florida


Table of Contents


The short answer is — yes! And if that (plus sunshine and palm trees) is a good enough answer for you, then start packing your bags!

But, if you need a bit more information before moving your life to a whole other state, then you’ve come to the right place. This guide will how much money do you need to move to florida down everything you need to know about moving to Florida, and whether or not it’s the right decision for you or your family.

Let’s dive in and find out everything you need to know about moving to Florida before you pack those cheap moving boxes and load up the moving truck.

Let’s Start With Location — The Best Places To Live In Florida


Florida, also commonly referred to as the “sunshine state”, happens to be the fourth largest state in the entire US. Because of its sheer size and unique positioning, with the Gulf and Atlantic oceans on either side, narrowing down exactly where in the state you might want to move to is a good first step in the right direction.

Let’s start with the regions Florida is made up of or divided into…

Florida is made up of four main regions:

  1. Florida Panhandle
  2. North Florida
  3. Central Florida
  4. South Florida

Need To Sell Your Home Before Moving?

Did you know that we can help you save a lot of money when selling your house? Money that you can use to pay for your big move. has 3 ways for you to sell your house and NOT pay high commissions.


  1. Sell It Yourself With Our Flat Fee MLS Listings
  2. Sell With Top Local Agents With Negotiated Discounts on Commissions
  3. Sell To A Pre-Qualified Cash Buyer

Find Out How It Works Now!


1. Florida Panhandle

Think of the Florida Panhandle as a sunny version of Georgia and How much money do you need to move to florida in other words, it’s still the sunny Florida you know, but with a sweet, southern vibe. The Florida Panhandle is the perfect spot for those who enjoy southern hospitality and culture, but who still want to enjoy the overall ambiance and unique atmosphere that the state is known for. Oh yea, some pretty nice beaches too!

picture of Panorama of Okaloosa fishing pier in Fort Walton Beach, Florida at sunset.

This particular region gives you easy access to other popular places such as Nashville, New Orleans, and Atlanta — and all of which are completely drivable destinations! If you are eager to check off that state traveling box on your bucket list, then the Florida Panhandle is the spot for you!

Florida Panhandle Sounds Great — Where Should I Live?

Below are a few of the most popular cities in the Florida Panhandle:

  • Tallahassee — Florida’s state capital
  • Pensacola
  • Destin
  • Panama City

2. North Florida

North Florida is known to be the most rural region of the state. Whereas the other three regions are commonly known for their beaches and palm trees, North Florida is known for its luscious landscape of live oak trees and beautiful scenery lined with wildflowers and magnolias.

picture of The peaceful boardwalk on the Suwannee River

The peaceful boardwalk on the Suwannee River

If you happen to be a nature lover, you may want to consider swapping out South Florida’s beaches for some peace and quiet with nature.

I Am A Big Nature Lover — Where Should I Live?

The following areas in N. Florida are Popular Destinations for those Moving to the State:

  • Jacksonville
  • Neptune Beach
  • Gainesville
  • Augustine

3. Central Florida

Are you a NASCAR fan? An avid theme park explorer? Do you like to play golf while sipping a glass of Bourbon and reminiscing about your past accomplishments with other fellow golfers and retirees?

picture of a nice florida municipal golf course

Well, look no further! From Disney World and Mickey Mouse to Daytona Beach and shopping for your friends, Central Florida is the region of excitement! It’s known for its eventful nature of tourist destinations, day trips, and sipping on your favorite drink!

I Love All Of The Action — Where Should I Live?

The following cities are popular destinations for those moving to Central Florida:

  • Orlando
  • Saint Petersburg
  • Daytona Beach
  • Melbourne
  • Tampa
  • Fort Meyers

Be sure to check out our “Moving To Tampa” guide.

4. South Florida

South Florida ranges from areas of low population and quiet serenity to exciting resorts and sunny beaches, and fast-paced living!

picture of West Palm Beach, Florida

Downtown West Palm Beach, Florida, over the intracoastal waterway.

Although South Florida gets hit the hardest during hurricane season, its also a highly popular destination for those moving to the state. If sporadic rainstorms and the occasional hurricane aren’t on your list of fears, then you’ll be able to take full advantage of warm, sunny weather and mile-long beach’s year-round.

South Florida is one of the most popular regions for retirement, relaxation, and enjoying time outdoors.

Hurricanes Don’t Scare Me — Where Should I Live?

  • Palm Beach Gardens
  • West Palm Beach
  • Boca Raton
  • Jupiter
  • Coconut Grove
  • Wellington
  • Coral Gables
We Negotiated Discounts With Great Agents. Find One In Your Area.

What About Work / Employment Opportunities?


Moving can be scary, especially if there is uncertainty about work and employment opportunities in your new home state. With a GSP of US$873 billion annually, Florida’s state economy ranks among the world’s (yes, world’s) largest economies, coming in at #18 on the list.

The state has a diverse and growing economy, ranging from financial services, to agriculture and high-tech industry. Over the last decade, the state has made major headway in high tech employment, ranking #5 in the US in this sector.

Infrastructure and Global Reach

The economy and job market are also supported by world-class infrastructure, expanding the global reach of the local market with 19 commercial airports, 3000 miles of railroad tracks and over 12,000 miles of highway.

picture of I95 South towards Miami

But that’s not all. Florida tourism is booming, serving 100+ million visitors annually. From Walt Disney World to sunny beaches, vacationers both domestic and international are attracted to this great state year-round.

Higher Minimum Wage & No State Tax

The state has also made great strides in supporting the working class, having raised the minimum wage to $8.56/hour in 2020. This, coupled with no state income tax, makes the state a winner when it comes to making and keeping more of your hard-earned money.

“My husband and I moved to Florida almost two years ago and immediately benefitted from a 6% raise thanks to no state income tax.


Additionally, we have opened and run several businesses in Daytona (including a bar, electric bike rental company, art studio and real estate investment company) and are taking advantage of the year round climate, incredibly affordable housing and cost of living and the awesome activities available to us here.”


Krista Goodrich – The Pallet Pub Daytona

Low Unemployment Rate

Historically Florida has ranked low on the unemployment rate chart. Currently, the state boasts an unemployment rate of only 3.2%, well below the national average of 4.7%.

Long story short, the job market in Florida is booming, the minimum wage is rising, and the residents are having great success with saving their money! Now that we have established that the job market is nothing short of desirable, let’s take a look at the top indistries and careers in the state.

The Top Industries In The Market

Top Industries:

  • Healthcare
  • Technology
  • Hospitality and Tourism
  • Agriculture
  • Business and financial
  • Education
  • International trade

Top Careers by Income:

  1. Anesthesiologist
  2. Gynecologist
  3. Family doctors
  4. Surgeons
  5. Orthodontist and dentistry
  6. Psychiatrist
  7. Airline Pilots
  8. Aerospace and aviation
  9. Security
  10. Information technology

If you haven’t noticed the pattern, there are two things to note about this list of industries:

  • Half of these industries are directly related to healthcare
  • The other half are directly related to Florida’s real number one industry in the state; tourism.

The tourism industry is the foundation that keeps Florida’s economy intact…after all, it is the home of the one and only Disney World.

picture of disney world boardwalk

Disney’s Board Walk

But something you may not know about this state is that it wanted absolutely nothing to do with the national healthcare crisis.

In other words, Florida has his own healthcare programs for people who do not qualify for Medicare or Medicaid as well as for people who may have lost their jobs, quit their jobs, or do not get offered healthcare through their jobs. So it makes sense as to why the top six industries are health-inspired careers — they actually need them!

In summary, if you’re having one of those months where everything goes wrong, it’s comforting to know that being unemployed should rank pretty low on your list of things to stress about.

picture of a superhero real estate agent

The Florida Real Estate Market


Florida has historically always had a strong real estate market as compared to the rest of the nation. The state is an often-sought after destination due to its culture, weather, beaches, and no state income tax, among other reasons.

Picture of a nice florida house

The Florida real estate market remains strong to this day, with signs of consistent sales and price growth as well as a healthy number of transactions.

Let’s Look at Some Statewide Averages:

*Keep in mind these fluctuate city to city

  • Median Price Per Square Foot: $166
  • Median Property price: $294,900
  • Average Days on Market: 125
  • Pay to Rent Ratio: 20
  • Traditional Cash on Cash Return: 1.4%
  • Monthly Traditional Rental Income: $1,816
  • AirBnB Occupancy Rate: 55%
  • AirBnB Cash on Cash Return: 3.3%

*Data according to Zillow 2019

Between the citizens, retirees, and the summer homes, the real estate market and the property values in Florida tend to remain strong. According to Zillow, real estate value in the state averaged a 4.7% increase, with more than 50 neighborhoods posting an amazing 10% year over year increase in value.

Need To Sell Your Home Before Moving?

Did you know that we can help you save a lot of money when selling your house? Money that you can use to pay for your big move. has 3 ways for you to sell your house and NOT pay high commissions.


  1. Sell It Yourself With Our Flat Fee MLS Listings
  2. Sell With Top Local Agents With Negotiated Discounts on Commissions
  3. Sell To A Pre-Qualified Cash Buyer

Find Out How It Works Now!


Real Estate Market “Bests”

For example, selling your home in June can net sellers up to $20,000 more at closing, making that one of the worst months for those looking to move to Florida to make a purchase. On the other hand, if you’re looking for a bargain buy, January is the best month to purchase a home in FL, saving an average of $20,000 as compared to June. And with less competition, you’ll have more time to search and won’t be rushed or faced with a bidding war on hot properties you like.

Real Estate “Best Times”

  • The best time to buy property is in January
  • The best time to sell a property is in June
  • The best places to invest in are Tampa, Jacksonville, and Orlando
  • The best piece of random info is that most people in Florida actually prefer to rent
  • The best Florida markets are in Lakeland, Jacksonville, Orlando, Tallahassee, and Gainesville

“I love talking about moving and living here in southeast Florida. Our holiday season is magical (and warm) and the hot weather is well worth bearing during the summer months because our fall, winter and spring seasons have temperatures that are near perfect. I couldn’t think of a better place to live to when you’re considering a move. Home is wonderful here.


I sell homes in Boca Raton, Florida and we find that home sales in Florida have been welcoming new Buyers who have been considering moving from states where state income taxes are putting a dent in their financial wealth, due to the onset of new tax laws. With Florida being void of a state income tax, Florida is looking bright welcoming new residents from high tax states to call Florida their primary homestead…just another reason why living in Florida is top of mind to so many.”


Lynn Pineda – eXp Realty – ImagineYourHouse

And this all sounds great! But, here’s a relevant question that may make or break Florida’s glowing aura…

We Negotiated Discounts With Great Agents. Find One In Your Area.

How Much Does It Cost To Live In Florida?


Can I Afford To Move There?

The job industry is solid, the real estate market is on the rise, there’s no state income tax, healthcare isn’t an issue, and you’ll be able to save money. But what is the cost of living like in the state?

picture of Family with shopping cart in supermarket store

Cost of Living Index

NOTE: 100 is the national average. Above 100 is higher than the national average, whereas below 100 is less than the how much money do you need to move to florida average.

  • Overall Costs = 102.8
  • Groceries = 102.8
  • Healthcare = 98
  • Housing = 106.2
  • Median Home Cost = $7000 above national avg.
  • Utilities = 101.3
  • Transportation = 112.6
  • Miscellaneous = 96.9

Although Florida comes in a bit higher than the national averages in many categories, this is offset by no state income taxes and often higher wages.


One of the benefits of living in Florida is taking advantage of the state’s lower taxes, which as compared to other states, play a small role in the overall cost of living there. Florida boasts NO state income tax, and an average effective property tax coming in at a nominal 1.02% (well below the national average).

Sales tax in the state is 6%. However, there are counties within the state that add their own “local” tax on top of that 6%. This “additional” local tax generally ranges from 0.5%-2%, with a mandated maximum sales tax of 8%.

However, expect to pay more at the pump. Florida’s gas tax ranks among the 10th highest in the nation coming in at 41.36 cents per gallon. Similarly, alcohol is also taxed heavily in the state coming out to $6.50 per gallon on hard liquor or spirits and 48 cents per gallon on beer.

Communications tax is also a concern. Consumers on average pay up to 7.44% extra on all internet, television and phone services, with those opting for satellite services such as DirectTV being taxed at 11.44%.

Don’t Forget About Insurance

There are three unique types of insurance that, depending on where you live, you may need to think about.

  • Hurricane insurance
  • Sinkhole insurance
  • Flood insurance

Most states do not require that you purchase flood insurance, but there are a few that highly recommend it if you happen to live along the coast. And then, there’s those other two: hurricane insurance and sinkhole insurance.

picture of A father and son working together to install plywood over windows in preparation for a hurricane.

Hurricane insurance, especially in south Florida, is kind of a given. But, sinkhole insurance?

There are certain parts of Florida where, sometimes, the earth gets hungry and decides to swallow cars, roads, and even homes. As one of the world’s most unpredictable natural disasters, sinkholes can be a huge issue. Once the ground swallows your home, you can’t get it back!

The required or recommended insurance needed for Florida homeowners can seem expensive at first, but in the end, the chance of your life getting destroyed because of a flood, hurricane, or sinkhole is very low.

Closing Thoughts About the Cost of Living

Every state will have its pros and cons, but as long as you budget your lifestyle, Florida is, all in all, relatively affordable to live in. If moving to Florida is in your future, consider consulting with a local financial advisor who can help you prepare for local expenses and optimize your budget and planning for a successful transition.

We Negotiated Discounts With Great Agents. Find One In Your Area.

Is Florida A Good Place To Retire?


With its warm weather, palm trees, golfing, sporting events, NASCAR racing, swimming, and private clubs, of course Florida is how much money do you need to move to florida place to retire!

In fact, there are already 3.5 million people over the age of 65 who would readily agree! Not only is Florida known as the most popular state to enjoy your life post-retirement, but many aspects of the state are tailored towards or made to accommodate those who are over 65 years old.

picture of Group of retired friends support concept

From constant commercials about products that benefit the older generations to the various volunteer opportunities, it’s almost as if the state of Florida just assumes that that’s why people move there to begin with — because they’re retired.

Aside from the massive amount of retirement communities scattered throughout the entire state, there are certain places that retirees prefer over others. Be sure to check out our review of the Villages Florida a very popular and large retirement community.

Here is a shortlist of the best places to retire in Florida:

Venice how much money do you need to move to florida Venice has the benefit of sports such as golf and tennis as well as a fun nightlife with amazing food and live music…all without losing that relaxing beach vibe and laid back atmosphere.

Vero Beach — Vero Beach is known for its daily social events, restaurants, pool bars, breweries, sporting events, and quaint shops and stores. If an active social life is important, this locale is worth a look.

Naples — Over 50% of the population is made up of retirees and people over the age of 65. It’s known for its amazing medical care, recreational activities, and is the best place to plan family activities such as kayaking, trips to the zoo, and sporting events.

Be sure to check out our “Moving To Naples” guide.

Palm Beach — Palm Beach is known as the place how much money do you need to move to florida “retire in style.” That is, it’s the city of fancy shopping! So if you like to shop, don’t even hesitate to check out Palm Beach! But don’t worry, you don’t have to be an avid shopper to enjoy what Palm Beach has to offer. This city has more than 160 golf courses and over 80 parks for those who love outdoor activities such as hiking and biking. If you’re more of an art lover, their huge art scene will amaze you with its many broadway shows, museums, festivals, and fairs!

The Florida Keys — The Florida Keys is meant for all of the nature lovers! From jet skiing to scuba diving and boating to fishing, The Florida Keys is known to be one of the most affordable cities to settle down in! It’s also great to quench that party scene urge as Key West is not far away!

“As I have gotten older, the New England winters have become tiresome. Who wants to be shoveling out of the next ten-inch snowstorm? Not me!

My immediate thought being a real estate agent was I should be investing here which is exactly what I did. I bought a place in a small town called Margate which is between Coral Springs and Pompano Beach. It always nice to escape the cold weather at a moment’s notice.

If you are considering a moving somewhere warm, I would highly recommend checking out South Florida. If you like warm weather, sandy beaches, palm trees, awesome restaurants and bars, along with an endless number of things to do, then this is worth exploring.

While prices are not at the rock bottom levels they were ten years ago, there are still some great options when compared to prices up north.”


Bill Gassett – Realtor

We Negotiated Discounts With Great Agents. Find One In Your Area.

What Are Floridians Like? – People And Culture


Florida is a state known for its diverse culture and historical significance. The state has undergone impressive transformations over the years, from its storied past to industrial revolution and modern-day innovation. Inspired by a wide range of architectural influences, the state is a perfect melting pot that is friendly and embracing.

picture of Multi-Ethnic Group of People in Florida Working Together

The state’s mixture of Latinos, Hispanics, Cubans, Native Americans, and even a large Greek population make it a unique gem in the south. There will never be a time where you run out of new foods to try, art to look at, and culture to experience. Not to mention that Southern hospitality that the Florida Panhandle has by default!

But Florida isn’t just a state of various cultures and backgrounds, it also has people from every political viewpoint as well as people of every age and religion. So it’s not hard to figure out that there’s a group of people that everyone can relate to!

It’s safe to say that pretty much anywhere you go will bring you a whole new life experience!

We Negotiated Discounts With Great Agents. Find One In Your Area.

Some Of The Coolest Things To Do In Florida


Of course, Disney World is always an option as are the mass quantity of beaches around the entire state, but what else is there to do? The answer is simple — everything! But to narrow it down to the coolest things to do, check this out!

Butterfly World

Butterfly World is known as “the result of one man’s hobby gone wild.” And this one man’s hobby has developed into an amazing greenhouse of a 5000 butterfly infested park. After making friends with one of the prettiest flying creatures in the world, you can move right on to The Tropical Forest, or you can check out the English Rose Garden.

Lion Country Safari

The only drive-through safari where you can see over 1000 different animals right from your own car! Pet a zebra, make friends with a giraffe, and say hello to the wild rhinos and lions that pass by!

picture of View from a car on Giraffe in drive through safari zoo

Club Med

Club Med is an all-inclusive resort in Sandpiper Bay that is completely family-friendly. It offers relaxing spas, yoga classes, and their world-famous white chocolate! As long as you enjoy an opportunity of endless adventures, this petra solano actress is a perfect getaway for you and your family!

The Ernest Hemingway House

This is for all of the history buffs who want to experience the full vibe of literary geniuses such as Ernest Hemingway. Walk around the house that Hemingway spent 10 years writing his masterpieces, and check out the museum-like property of what it was like to live in his shoes! It’s also known for their quirky tour guides to enhance the fun, and also for the stray cats that live around this history-filled museum.

Coconut Grove Arts Festival

February is for festivals, and one of the greatest annual festivals is the Coconut Grove Arts Festival. This 3-day festival is filled with over 360 international artists that show their work by way of fine arts, live performances, cooking demonstrations, and diverse food tastings. This festival takes place in Biscayne Bay and has been known to be one of the most fulfilling festivals in the state.

Daytona 500

You’ve probably heard of the Daytona 500, but just in case you haven’t, this isn’t just any race — the Daytona 500 is a 500 mile long NASCAR race that is filled with people from all over the world. Tailgating, watching the races, and listening to hours’ worth of live country music is a fun-filled festival scene!

picture of Sprint Cup Series Daytona 500

Kennedy Space Center

Brought to you by NASA itself, this Orlando center is filled with space exploration, rocket launches, historic spacecraft, and many displays and exhibits that will blow your mind!

Drive-In Movie Theaters

Yup! Drive-in movie theaters still exist, and they are all located in the Sunshine State. Well, not all of them, but definitely the good ones!

Everglades Alligator Farm

What would Florida be without their beloved alligators? In a swamp right outside of Miami, take a boat and sail through over 2000 alligators consisting of alligator shows and feedings, and also the fun you can have with snakes!


Perhaps one of the best things to do in Florida is to get a hold of your inner child and check out the massive, life-sized LEGO creations! Take a LEGO ride down to the water park and have yourself a fun, free-spirit day!

picture of Legoland Retail Store Exterior

If these don’t tickle your fancy, check out some of Florida’s hidden destinations:

  • Salvador Dali Museum
  • City Of Live Mermaids
  • Devils Den
  • Discovery Island
  • Spook Hill
  • Underwater Hotel in Key Largo
  • Cassadaga
  • The Devil’s Millhopper
  • Whimzeyland
  • Pirate and Treasure Museum
  • World Erotic Art Museum
  • The Fountain of Youth
  • Solomon’s Castle
We Negotiated Discounts With Great Agents. Find One In Your Area.

Pros And Cons Overview: The Good And Bad Of Moving To Florida


The good, the bad, the better, and the worse — here is a wrap up of the pros and cons of moving to Florida!

The Good Stuff

  • The weather — a minimum of 300 sunny days to perfect your tan, avoid shoveling snow, and to increase that dopamine!
  • No state income tax — keep most of what you earn, including retirement checks!
  • Thousands of miles of beaches and parks!
  • Great for retirement — retirement communities, gated communities, and daily relaxing activities!
  • Disney World is there — and the Disney Walk is free!
  • Affordable — even for younger generations!
  • Real estate is booming!
  • There are over 300 hidden activities to experience!
  • Filled with culture and diversity everywhere!
  • The cost of housing is competitive!
  • Residents of Florida receive discounts just for being residents!
  • It’s incredibly easy to find a job with maximized minimum wages!
  • Florida has one of the top economies in the entire world!
  • Extremely friendly to those with disabilities!

The Not So Good Stuff

  • The threat of natural disasters like hurricanes, floods, and sinkholes
  • Required insurance for a potential natural disaster
  • Potential dangers of heat and humidity
  • It’s flat — if you like mountains, Florida isn’t for you
  • It’s filled with tourists — unless that doesn’t bother you
  • Not very many public transportation options
  • Slow drivers — but that depends on where you live
  • The threat of alligators — just kidding, alligators are not actually a threat
  • Chemicals in the air to decrease the population of bugs

Need To Sell Your Home Before Moving?

Did you know that we can help you save a lot of money when selling your house? Money that you can use to pay for your big move. has 3 ways for you to sell your house and NOT pay high commissions.


  1. Sell It Yourself With Our Flat Fee MLS Listings
  2. Sell With Top Local Agents With Negotiated Discounts on Commissions
  3. Sell To A Pre-Qualified Cash Buyer

Find Out How It Works Now!


Fun Facts And Strange Laws


Just for fun, let’s explore the fun facts of Florida and even some strange Florida laws that will make you wonder why it’s even a law in the first place!

Florida Fun Facts

  • Florida isn’t just known for oranges; it’s also the number one producer of watermelons, tomatoes, strawberries, and sugar
  • Key Lime Pie and Gatorade were first invented in Florida. Once you think about it, it sounds like common sense
  • Collectively, Florida has about 300 days of sunshine per year, which is where Florida got its nickname: The Sunshine State
  • Florida has more golf courses than any other state in the US
  • Florida is the flattest state in America
  • To pass a driving test, you don’t need to learn how to parallel park

picture of sunny florida sky and palm trees

Strange Laws

  • Public doors must open outwards
  • Unpaid meters that have elephants tied to it will get you fined, just in case you happen to be taking your pet elephant for a walk
  • It is against the law for single women to parachute on Sundays
  • After 6 pm, it’s illegal to fart in public
  • It’s illegal to sell ice cream in a cemetery
  • Selling oranges in the street will land you in jail for 30 days
  • It is illegal to sing while wearing a bathing suit

picture of a superhero realtor

Wrapping It Up, Florida Is A Great State To Move To!


For most people, moving to Florida turns out to be a blessing in more ways than one. The move to Florida is one that few people regret. Moving to Florida can mark a new and exciting chapter in you or your family’s life and one that will be filled with unforgettable experiences and memories.

From breathtaking beaches to fair year-round weather and a never-ending array of attractions to explore, this state has something for everyone. No matter if you’re young, old, retired, working, religious, spiritual, American, or a tourist, Florida is worth a close look when deciding where to move.

So, now that you know the facts, what do you think? Is Florida worth the move?

Most people agree that it most certainly is!


Further Reading: Looking For More Moving To Florida Resources? Check These Articles Out!


picture of Kris Lippi owner of

About the Author: Kris Lippi is the owner of, the broker of Get LISTED Realty and an official member of the Forbes Real Estate Council. He actively writes about real estate related topics such as buying and selling homes, how-to guides for around the house and home product recommendations. He has been featured in Inman, Readers Digest, Fox News, American Express, Fit Small Business, Policy Genius, Lending Tree, GoDaddy, Manta as well as other major websites. Read more about us here.


I’m 62, live in Missouri but work in Florida and have $1.8 million — ‘have I positioned myself well?’

I would like to retire next year in April. I will be 62 ½ years old and am in good health. I don’t plan on drawing Social Security for some time since I have a cash flow plus cash savings. Should I postpone Social Security? If I draw Social Security, then I should receive about $2,100 a month. If I wait until my Full Retirement Age, I should receive $2,900 a month.  Is it doable to retire comfortably at 62 ½ years old?  Have I positioned myself well?

I would greatly appreciate your feedback and advice.

Best Regards

See:I’m 60, my spouse is 45 — can I retire if our expenses are $12,000 a month?

Dear D, 

Congratulations on how much money do you need to move to florida of hard work saving so much money. That is truly an accomplishment and will serve you well in retirement. 

You ask if you’ve positioned yourself well for retirement. The truth of the matter is, many people will see your total investable assets as $1.8 million and think “of course,” but it’s a fair question to ask. 

Ultimately, “your success will be a function of your savings, investments and your cash flow,” said Erika Safran, a certified financial planner and principal of Safran Wealth Advisors. 

It’s best to consider your investable assets as $1.8 million chase bank grants pass oregon that doesn’t include the value of your home. If you’re not planning to sell your home and use the proceeds to fund your retirement, it shouldn’t be in the calculations, Safran said. That doesn’t mean it’s not valuable or helpful in the future — should an unforeseen emergency occur, you could possibly consider a reverse mortgage if it fits your circumstances later in life and depending on eligibility requirements. 

Keep in mind, everything in this response should be treated as a starting point. You didn’t provide many numbers for the financial advisers I spoke with to parse. That being said, if we round down to the lowest possible income per year you mentioned, which is $150,000 a year, and you were to max out your 401(k) contributions at $26,000, after taxes you’re looking at roughly $90,000 to spend on living expenses, Safran calculated. That’s the amount of money you have to replace for your retirement years. Ask yourself — does that sound doable? Are there any expenses that may deter you from meeting that threshold, or do you need to make changes to meet that limit? 

As the saying goes, “cash is king” — the same can be said about cash flow management in retirement. You have some great positives — assuming you move back to Missouri full time and stop paying rent in Florida after you retire, having those extra funds will certainly help your cash flow. If you consider your monthly payments for your auto loan and mortgage as part of your living expenses (which would make sense), you’ll have even more cash to play with when those debts are repaid. 

But you didn’t mention any of the other living expenses you have or can reasonably expect to have in retirement, and that’s what will truly make or break your retirement goals. You should consider writing out a budget, or at the least what your expected monthly expenses will be in retirement. You only provided us with your monthly mortgage payment and rent, which leaves a lot of considerations on the table. With that information, you could do a few calculations of your own or work with a financial planner to determine how realistic retiring in April would be. A financial planner could help you create a strategy for withdrawing your assets as well. 

Either way, think long and hard about your expenses in retirement. Brian Kennedy, a wealth planning adviser at KCA Wealth Management, suggests writing out one column of the necessities you’ll need to pay for in retirement and then one for your wants and desires, such as travel, gifts and hobbies. He recommends reading “The Bucket Plan: Protecting and Growing Your Assets for a Worry-Free Retirement,” by Jason L. Smith. 

Also, outside of your investments, earmark the equivalent of two years’ worth of expenses into a savings account and maintain that balance every year, Safran said. 

Check out MarketWatch’s column “Retirement Hacks” for actionable pieces of advice for your own retirement savings journey 

Before I move on to some other points, I want to flag your healthcare needs. Will you and your wife be covered under a plan if you retire, and if not, what will you do about it? Americans are eligible for Medicare at age 65, which means you’d have two and a half years to go before you can enroll. Your wife would have even longer before she’s eligible. 

If you like your job and it’s “tolerable in terms of family dynamics,” you may even want to consider working a bit longer not only to continue building up your nest egg but also to take advantage of any health insurance benefits you get, said Daniel Hawley, a certified financial planner at Hawley Advisors.  This is not ideal for everyone, of course, but it could help. 

“The longer he works and funds his 401(k) (and builds savings and investments) the more secure [his wife’s] retirement becomes,” Hawley said. Even if you american express delta bill pay keep working in some capacity with healthcare benefits, you’ll have to budget accordingly for your wife’s health insurance costs in the future — especially when you become eligible for Medicare. 

Also, along with where you’ll get health insurance, think about what sorts of medical expenses you’ll have in the long- and short-term. Healthcare costs are a major portion of retirees’ annual expenses, especially as they age. 

One last note on your assets before I move on. Many people think the closer someone gets to retirement the more conservative their investments should be but that isn’t necessarily true. “What people with that mindset don’t realize is that a) retirement is the ending of earned income and the start of funding a remaining lifespan of unknown years,” Hawley said. You could very well be planning for 40 or more years, especially when considering your wife’s needs after you’ve passed, he said.  

“Despite COVID, people in the upper-middle class with resources are living longer, healthier lives,” Hawley said. “I tell my clients to expect to live longer than you think… and that being old is difficult enough without being ‘old and broke.’”

Now onto Social Security — when a person claims his or her benefit is always a very personal decision, and depends on numerous factors, including income needs, life expectancy and just overall attitude toward the program, to name a few. Some people claim as soon as they can, which is 62 years old, while others wait until their Full Retirement Age to get 100% of the benefit they’re owed (the earlier you claim before your FRA, the less of your full benefit you get). Then there are people who expect to live into their 80s or 90s and don’t need the money yet, so they claim Social Security after their FRA. 

There are retirees who make their decisions based on their lifetime earnings from Social Security. For example, assume a person has 30 mobile homes for sale under 5000 in south carolina of retirement at age 62. If she were to claim at 62, over 30 years she’d accumulate $756,000. If she waited until age 67 and thus had 25 years of retirement left, she’d accumulate $870,000. “The greater your family longevity history, the better off you are waiting until at least full retirement age,” Safran said. “If you can afford your life expenses without the Social Security income, you are better off delaying.” 

When you figure out your cash flow needs, you’ll be able to have a better picture of when to take Social Security, Kennedy said. 

You may also want to delay for your wife’s benefit, Hawley said. Not only are you getting an “8% guaranteed return per year on the payment” when delaying, but because she is 10 years younger and presumably gets no Social Security of her own, your wife will get a percentage of your benefit if or when you predecease her, he added.  

I know you were asking about your retirement in particular, but I wanted to provide a few more notes based on the information you shared about your wife. One main area is survivor income needs, Kennedy said, which that budget I mentioned previously could help you both figure out. The other would be what life insurance policies you have, if any, and how they’ll benefit her. And lastly (for now), make sure you have all your legal documents in order — wills, powers of attorney, healthcare proxies and so on. Here’s more on estate planning considerations. 

Safran had another suggestion: consider converting a portion of your individual retirement account to a Roth IRA on an annual basis when you’re in retirement. This is a great job for a financial planner, who could determine the maximum amount of money should be converted while keeping taxes in mind. “Unlike an IRA, the Roth IRA does not have required minimum distributions at age 72,” she said. “The investment in the Roth IRA grow tax-free and the withdrawals during retirement (after 59 ½ years old) are also fully tax-free.” 

And finally, I tell this to anyone at any age — think carefully about what retirement will bank of montreal elgin like. Discuss those goals with your wife, and plan accordingly. Think about the unpleasant aspects of it — such as estate planning and long-term care — but also the fun parts, like what trips you may go on, what hobbies how much money do you need to move to florida may take up and what other passions you’ll pursue. Good luck! 

Readers: Do you have suggestions for D? Add them in the comments below.

Have a question about your own retirement savings? Email us at [email protected]

how much money do you need to move to florida

4 Replies to “How much money do you need to move to florida”

  1. Was this patch? I tried this with my MasterCard gift card and it shows as debit card and says denied by card issuer when I try to send money?

  2. ALL4GOOD,നിങ്ങൾ ഇതുവരെയും പാസ്സ് വേർഡ് മാറ്റിയിട്ടില്ലേ"

Leave a Reply

Your email address will not be published. Required fields are marked *