Get Expert Help  (844) 994-3325   info@ideallending.net

Florida ranks in Top 10 of Kiplinger’s 2018 “Where To Retire” list

Retrired Couple

Florida ranks in Top 10 of Kiplinger's 2018 ``Where To Retire`` list

NEW YORK – May 9, 2018 – In contemplating retirement, the big question tends to be when to retire? Or, perhaps, how much money do you need to retire? But where to retire can be an equally pressing matter. In fact, according to a survey by Merrill Lynch and Age Wave (a research firm focused on the aging population), 37 percent of retirees have already moved in retirement and another 27 percent intend to. Even if you’re among the rest who plan to stay put in retirement, you might find that entering a new stage of life changes the world around you, requiring a reassessment of how your home state treats your nest egg.

To help you weigh the pros and cons of each state when it comes to retirement, we ranked all 50 states based on financial factors critical to retirees, including living expenses, tax burdens, health care costs, household incomes, poverty rates and the economic wellness of the state itself.

Of course, plenty of other factors figure into this major life decision, from proximity to family to climate preferences. But we’ll leave assessing those personal considerations to you.

Whether you’re figuring out where to head next or just how you need to adjust your budget when moving into retirement, Click Here to see how every state in the union treats its retirees financially.

Florida
  • Ranking: #8
  • Population: 19.9 million
  • Share of population 65+: 19.1 percent
  • Cost of living: 1 percent above U.S. average
  • Average income for 65+ households: $51,187
  • Average health care costs for a retired couple: About average at $425,025
  • Tax rating for retirees: Most Tax Friendly

If you’re looking to party with your peers through retirement, head to the Sunshine State.

Nearly 3.8 million seniors call Florida home, giving its population the highest share of residents age 65 and older in the country. Indeed, it’s famous for its retiree-haven status, what with its warm weather, beautiful beaches and seven-season-long “Golden Girls” endorsement.

But the main attraction for retirees to the Sunshine State must surely be the tax situation. Florida has no state income tax, estate tax or inheritance tax, and it doesn’t tax Social Security or other retirement income, either. Plus, those benefits are pretty secure: Florida scores top marks for fiscal soundness, according to a recent report from the Mercatus Center at George Mason University, in large part due to its abundance of cash versus short-term liabilities.


2018 The Kiplinger Washington Editors, Stacy Rapacon – https://www.kiplinger.com/slideshow/retirement/T006-S001-all-50-states-ranked-for-retirement-2018/index.html

Ideal Lending Solutions | West Palm Beach | Boca Raton | Jupiter | Aventura
American Financial Network, Inc., DBA Ideal Lending Solutions, is not a government entity; CORP NMLS# 237341 ; Equal Opportunity Employer ; Equal Opportunity Lender American Financial Network, Inc. 10 Pointe Drive, Suite 330, Brea, CA 92821. Click here to view our current licensing information as listed on NMLS® Consumer Access.

Equal Housing LenderAmerican Financial Network, Inc. is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided you have the capacity to enter into a binding contract), because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. The federal agency that administers our compliance with these federal laws is the Federal Trade Commission, Equal Credit Opportunity, Washington, DC, 20580.

American Financial Network, Inc. is not acting on behalf of or at the direction of the federal government, and this offer is not being made by an agency of the government.