More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Annette Christine Conte is the licensed advisor I use and i'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
I've lived in Florida for 26 years, and the state is amazing. I absolutely love it here. Also, everything you say is true; the cost of living is higher every year, along with taxes, insurance, hoa fees, etc. Even with all of that, I don't want to live anywhere else.
I feel like there high anywhere. I live in new Hampshire and its always been more expensive than Florida 😂and I'm Not a fan of the weather with that being said I'm trying to move to Florida area
But it is worth every dollar. We live in Paradise... I don't care how high my taxes or insurance are... life is short... I look forward to every day here on Amelia Island, Florida. already kayaked this morning, and now walking the puppy on the beach. Doing some fishing later today!
30 miles from a beach? what's the point ? We live right on the beach here in Amelia Island, Summer breezes and fishing every day. 30 miles OMG... what you want is to live the cheap life.
@@FrankGiuliano Over an acre of yard, nice shop, great weather, no flooding, and a LOT less insurance and taxes. Not to mention no one bothers me out here. LOL My wife loves the beach. I like it OK but it doesn't do all that for me. Rather be on the river and I can be their in 5 minutes.
Lived in Florida full-time from 1969 to 2020, yes it used to be a wonderful state, not overly political. Not crowded, beautiful weather, low cost of living. Yes, the jobs did not pay well even back then, but expenses matched income. Jump to 2020. No, the weather is not nice 9 months out of the year anymore, (First house we bought in the West Palm Beach area didn't even have AC, but we didn't miss it). Now because of the building over of every single green space the temperatures are unbearable, as is the traffic. And, I went through way too many hurricanes to mention. I gave up a beautiful townhouse in a gated community and moved to the mountains of North GA. I do not have to worry about a job as I'm not retired and a pension that has a 3% increase annually. All expenses are drastically lower, traffic is drastically lower. Yes, we have a few hot afternoons in the summer but in the mountains, it is cool in the morning and again as the sun goes down. No HOA, just a beautiful view of the lake and the mountains. Have not missed Florida since the day I left in 2020. PS I love the change of seasons and the colder weather.
I bought a home in a new community in Tampa Florida in 2020. Now I regret it. Florida is not the same state before everything was affordable. I am stuck with a mortgage on the home and I am 60 years old I have $ 154,000 remaining to pay off the mortgage. I want to sell the home so me and my wife can settle down in Puerto Rico to retire to enjoy the
i had always dreamed of Florida/ arizona/texas retirement, but its gotten 2 expensive! I retired Oct 30, 2024 and moved with my Thai wife to Thailand! renting a 3 br 2 bath home for $288 a month. just got the first electric bill it was a few pennies over $50. We eat out 2 means a day lunch or dinner can average $12 to $20 for the two of us. World class hospital in Hua Hin, we are in Prachuap Khiri Khan. good luck to all!
FL is no longer a state for people who live on a moderate, fixed income. Unless you are upper class, or just plain wealthy, the average person, and the majority of retirees are beginning to find the state unaffordable.
So why should Paradise be cheap? like anything in life, if you can't afford it - don't buy it ! Retire in Scranton, Binghamton, Buffalo, Baltimore, Newark, Camden, Memphis, Erie, those places are really cheap. Why do people feel that Florida should be Cheap.. you missed the boat folks.. that was 30+ years ago..
@@FrankGiuliano This is what I'm struggling with trying to decide. I live in NY but have a second home in rural Pa that I was going to retire too. Trying decide to move closer to Scranton to be near hospitals as I age or go to Florida for nicer weather and healthcare.
My wife and I retired at 53 sold everything bought an RV and lived on the road full time for 2 years. That was 6 years ago, since then we bought a ranch in Wyoming (cheap state to live) and land in AZ that will build our retirement house. What I’ve learned is most states have a great 1,2 or 3 months where it would be perfect to live there (expenses excluded) but the rest of the time it’s cold, hot, rainy, buggy, storm’s whatever so we travel all around the country for most of the year living enjoying those few precious months in a state then move on. We live at the ranch in the summer months then hitting the road the rest of the time. Merry Christmas everyone!
Completely agree!! With elder parents living in FL, there’s the additional issue of getting them out when there is a hurricane approaching. Super stressful, heavy crowds on the highway, gotta make a split decision to drive a full day down there and another full day back to bring them to our house to ride it out. And then waiting for the power to come back on before returning, even if no damage. Had to do that twice this year!! It’s not the retirement nirvana it used to be - quite the opposite now.
It's a wonderful life. We wake up looking forward to each new day. Surrounded here on Amelia Island Florida by the Ocean and palm trees. kind - positive thinking people. Sun, fishing, biking, kayaking, boating, smiling, 12 months a year.
I tell those folks don't come, alligators are eating people, summers are over 120 degrees, the ocean is full of sharks, hurricanes have washed most folks to sea, the sun will destroy your skin (most of us look like lobsters now). Traffic is so bad that it can take days to get to work... stay where you are...please.
We did our research and live in an area in FL that does not get directly hit by Hurricanes, and overall we are living well retired. We are spending more than we anticipated, but living better economically, politically and spiritually than when we were in Cauliflower! To single out only Florida is short-sighted since places like Idaho, Texas, Utah, the Carolinas and even Tenn are all more expensive post other failed state migrations, post-Covid, and after inflation, bad govt policies and greedy insurance (all types) companies!! You just have to plan to save and be wise about investing and spending. And I wouldn’t move to NY if it was the last state left! IMHO!!
I thought about retiring in Florida, but I found on Airbnb that most condo's can be rented for an entire month. No property tax, no insurance, and if you want to go to another area you just change it up.
Hi Azul. Please add Texas to that list. Not just Florida. We are not sure we will retire here now because our home owners is so expensive, property taxes are 2.9%, and the overall cost of living is getting worse. Even with no state income tax, it can be more expensive in Texas than a state that has income tax. One must do a total cost of living calculation to really know the true long term cost. Sad state of affairs.
You folks what free, cheap living.. it doesn't exist. life is short, live your dream.. I'm on the beach here in Florida today.. I'm the only one here, with my dog.. I'll do some fishing too.
Sadly most desirable places are expensive for retirees. I checked CO, MT, SC and other retirement locations and they are all pricey. The trick is select a nice location and live within your means.
Lived there for 2 years. In the summer, you just run from one air-conditioned environment to the other, kinda like here in the winter where we run from one heated environment to the other.😅
I’ve lived in Florida for 40 years. Miami to be exact. I can’t wait to leave. The traffic and heat have become unbearable. There’s no real sense of community, as everyone here is from someplace else, and people and drivers are NOT KIND to each other. I’ll be leaving for moderate weather, seasons, a kind community, and better affordability.
The good news is that those NY and NJ folks can no longer afford Florida, since their home values in NY and NJ have declined. Discourage those folks as much as possible.
First, I would NEVER own a house in Florida. Those days are over. There are literally 1000’s of older building in South Florida that need to be retrofitted. The insurance companies will not touch them and the HOAs are completely underfunded. Many of them will default. Renting is fine and there are plenty of properties. Second, the weather is NOT nice 9 months out of the year. That’s nonsense. It’s nice about 4 months out the year. The rest of the time it’s humidity and mosquitos.
you are reading a lot of bull. Auto insurance here is 1/2 what my son's was in NY... and less than 1% of condos in South Florida have been found to have issues that need mitigation. less than 1% ..
@@FrankGiuliano Your son is younger so probably has higher rates. Bankrate average car insurance has Florida at $4,088. New York at $3,846. There are a lot of states, though, where it's below $2,000. There are 1.5 million condos in Florida. 1% of that is a huge number of condos.
google crime in NY, NJ, IL, WA, CA, OR, DC, MA, CO... Did you know that sink holes are isolated to the area in Central Florida where Limestone is the bedrock?
Like so many from the "North", I had always planned on eventually buying a place in FL for my retirement winters (not to stay all year, but a few month every winter as a way get away from "our" winters up North. Over the last few years however, after discussions with friends (of which some already have real estate in FL) and given the seemingly increased risk of those bigger hurricanes, I've since revisited this plan and simply want to rent for a few months at a time during winter. Still costly relatively speaking, but it remains a cheaper options than all the annual condo fees, improvement costs, regional tax costs and never ending increasing costs of insurances, etc (noting that all of these are indexed, sometimes way more than inflation). But, as important, we're not responsible for the cost of disasters or loss of value of the real estate itself AND we're keeping our flexibility to go elsewhere for parts of winter on any given year. There's value in this. The moneys I had saved up for this remains invested and brings a decent annual return which covers more than the few months of rental costs, (... and it's "indexed" because I'm only using a portion of the returns to pay for rental costs). My specific example; the place I rent for 2 months charges me $12,000 USD (yes, expensive, thus the "relatively costly" above mentioned, but pretty nice and well located). This condo's value, if purchased now, would go for $750,000 USD. At an avg 6% return, that money invested gives me, on avg, about $45,000 of which I use about $15,000 gross (to get the $12,000 needed to pay for rental) and the rest ($30,000) remains reinvested and is added to the base capital, bringing the total invested amount to $780,000 for the next year. That investment (assuming the same avg 6% return) will give me almost $46,800 in growth that year. At the same time, the condo owner may increase his rent by 5% for inflation to $12,600 (for 2 months), so a $600 more. But I've made $1,800 in incremental returns (or about $1,200 net). More than the actual rental increase. What I'm also being told is that this condo owner now has general costs of about $20,000 per year for all the condo fees, insurance and taxes (and that's without improvement costs he has to inject every so often (for roof repairs, widows, central A/C, elevators, etc..). As long as my cost of rent doesn't exceed the annual costs of owning (which all increase year over year), I'll rent, keep my freedom of choice of location, and have peace of mind. Add to this the specter of water level increasing (if it's a thing)... No thanks. Rental is fine.
Great example Robert. I'm glad it is working out so well for you. Thanks for taking the time to share your experience (and the thorough analysis). I'm sure your example will encourage others to consider renting instead of buying as well. 🙏 Azul
@@AzulWells I appreciate your insight for retirees, which I’m now. Return to basics, act now, avoid the frills and enjoy. Was fortunate enough to have had good advise when younger, so planned long ago and life was good to me… still is and I’m thankful every day for it. Retired mid 50’s and living comfortably and following your advices with my significant other. Thank you.
OMG.. You have a lot of issue you have to deal with.. Truth is : YOU CAN"T afford Florida... You are old, and still worried about your "investment"! You will not be around much longer - others will enjoy your savings and 6% interest.. Keep working those numbers bob.. a waste of time... the clock is ticking.
I live in The Villages. Hurricanes and flooding have never been a problem for the last 11 years since I moved in. Definitely stay away from the coasts and stay out of flood zones unless you can afford the insurance.
The Villages ! not near a beach, never a breeze, 170,000 people, people all over 55, not a young person to be seen, homes 5' apart.. yeah, that's real "Living". We live on the Beach on Amelia island.. this is living...
We had a home in Westchester County NY for 20 years, as a second home. We sold it due to the high taxes and insurance, and $10,000 a year for heating oil! Plus, my wife and I were paying NYS income tax which totaled over $55,000 a year! No income tax here in Florida. no heating oil, no snow removal, no "spring clean up", no miserable unhappy folks.
PA is a great place to live as well. A heck of a lot colder in the winter but not quite as hot in the summer. But I agree that South Carolina is a great place to live as well.
Just moved to Florida, Daytona Beach area. No problem getting insurance. Actually my homeowners was cheaper than Phoenix. Agent told me if you can see the ocean from your house, you can’t get coverage.
Hopefully what happened to me doesn't happen to you. I bought a home, not in Florida. Its 6000 sq. feet. When I paid the first year insurance, I thought it was a wonderful premium. Then I got a call from the insurance carrier. An auditor said that the agent was believed to have underreported the replacement value and they would have to do an appraisal on the home. Found out the agent was wrong in his replacement value and my insurance more than doubled the 2nd year. The insurance appraiser told me that it was common for agents to under report replacement costs so they win the "business" and get their commission. Hopefully, that's not happened to you.
I have been a snowbird going between NJ and FL. Purchased the home in FL in 2011 on the gulf coast. My FL homeowners & flood insurance plus the increase in property taxes has made FL more expensive (same value home) then in NJ. Today my property taxes and insurance runs $2k a month - in 2011 the cost was $600 a month.
Very surprising considering super high NJ property taxes. I just sold my NJ house which had "cheap" property taxes (for my affluent area) of $22,000 annually! However you couldn't pay me enough to live in FL for many reasons.
LOL! In NJ my property tax was $6400 a year, my similar sized home in Florida is $1139 a year. Homeowner's insurance in Florida $3300 a year. My home in NJ cost $325k when purchased 2006, my Florida home cost $91k in 2018 and is less than a mile from the Gulf. My screen door got torn off, we lost power for 12 hours, I have a solar generator, a small piece of trim was pulled off as the result of 2 hits from hurricanes. Stay away! We don't want you here. We don't have any state wage tax either. LOL! Stay away, you'll hate the sunshine and all the palm trees.
@@FrankGiuliano I left New Jermany in 96'. I moved back for a few years and was arrested on false charges because there was a photo of me on facebook holding a gun, was hit with a paternity suit I knew nothing about and as soon as I cleaned all the BS up, I hightailed out of town and back to Florida. It's a horrible place to live.
We were thinking about following neighbors down to St Petersburg. Even before the latest storms we changed our minds and decided to retire to outer part of Cape Cod. We will travel during the coldest and wettest part of the winter/spring. Plus, the summer fall on the Cape Cod are amazing.
Walking in NY talking about high cost of living in Florida🤣🤣🤣 Lived through Irene and Sandy which caused more damage then anything I have experienced in Florida Florida is awesome! But not for everyone. Enjoy restaurants in Manhattan - they are some of the best.
Florida Taxes are reasonable if it is your primary residence, insurance is reasonable if your house is built to current codes, don’t live in an HOA or flood zone (even X is a flood zone, choose carefully). Live far enough north that the escape routes are doable.
I don’t see things that way. My wife and I moved to the Tampa area from Minnesota in 2016. Between then and when we retired the first of 2024 we saved a huge amount of money not paying MN’s 8% income tax. We love living here in a wonderful family neighborhood. Yes we had two hurricanes this year, but other than Irma in 2017, there hasn’t been any other risk to the west coast.
I'm in New Hampshire. Safest state in the country, no income taxes, no sales taxes. It does get really cold here but it does in Minnesota as well. I love having four seasons and the really low taxes don't hurt either. One of the other big factors is world-class healthcare an hour away in Boston; certainly a consideration as a senior. My mother lived in a place with a life expectancy of 92 years and she handily beat that.
I’m in NH as well. Having no sales tax or income tax is great until the property tax bill comes. We’re up to almost 30k/year. We just don’t want to deal with the NH winters anymore when we retire (in about 5 years). We have a place in Florida that we’ll be going to. We currently rent it full time so it doesn’t cost us anything to have it.
You also bought before the pandemic when prices tripled and should be grandfathered in for the homestead real estate tax, which means your real estate taxes are capped. I bought my retirement home in South Carolina in 2010 when I was in my 40’s and since 2020 it has now almost tripled in value. I’m retiring in 3 months and was planning to buy a place in Naples, but the places I was looking at before the pandemic now have tripled in cost, which means my real estate taxes would be triple also. Throw in the issues with getting insurance and having to deal with your roof being inspected or replaced every 7 years and it’s almost expensive as living in the suburbs of NYC. Florida, like South Carolina was a great buy until 2020, now not so much.
My company paid a consultant to provide retirement classes when I was 24 and just started saving for retirement. The class was called "The Kids Table" and basically their advice was go with a target retirement fund that aligned with your 65th birthday. That was 20 years ago. It is the only thing I've ever invested in. How else can I better my finance?
Agreed, when it comes time to retirement planning, following the steps of a well experienced advisor did the trick for me in barely 5 years, turned my $500k capital to 5 figure monthly dividends. If you want to keep it very safe, then Vanguard TDF may be for you.
this is superb! Is there a problem sharing details of your financial advisor ? I have my money in a Roth, and I am trying to diversify my investment for better growth
Stacy Lynn Staples is the licensed advisor I use. Just google the name and you'd find basic info. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
thanks for putting this out, curiously inputted Stacy Lynn Staples on the web, spotted her consulting page and was able to schedule a call session, she actually shows a great deal of expertise
Preach brother!!! As a life long Florida resident and now retired, I would love it if you’d scare some of these new (or potential) residents back where they came from!
Folks don't shop around, in my opinion. My property taxes are less than $1,600 and includes trash service. My property insurance is less than $1,400 and car insurance for 2 vehicles, one with full coverage is less than $1,500 annually. My wife and I live comfortably off our Social Security income and we can afford 5 weeks of vacations each year. Worst electric bill was $200, but averages $100. Personally, I recommend that newcomers rent for a year so that they can get a feel for the State and determine what suits them best. I have lived in several locations around the State for 50 years and I chose to retire in North Florida in a quiet area on a river in the woods. The other side of the river is owned by the State, so I'll never have to look at development. My body doesn't recognize the allergens from insect bites, so the insects are mostly tolerable to me. Summers are rough, but I have no problem working outside when it's 96 Degrees outside. I just pace myself. One year should be enough to figure out if the State is right for you or not. Some move to Florida and become "Half-Backs" ", by moving to Georgia, N. Carolina or Tennessee.- halfway back in the direction that they came from. Our house was engineered to withstand 130 MPH winds and survived both Idalia last year and Helene this year, even though they were direct hits for this area of the State.
I bought a condo in Fort Lauderdale in 2003 but have live-in California for the past 12 years. Yes the maintenance fees and insurance have skyrocketed in Florida but the CA state taxes are crushing. I'm retiring in 2025 and relocating back to Florida. Home ownership in CA is completely without reach, I'll take the risk of hurricanes in FL any day,
Azul, I live on Staten Island, about 13 miles away from where you are in this video, and Hurricane Sandy changed our flood zones and my homeowner insurance hit the roof. 13 years ago and they haven’t changes the zones. Meanwhile, my area didn’t flood 😡
Florida has been in the path of hurricanes since time immemorial. If it were such a bad place to retire, it would never have become such a destination. Something has changed more recently with insurance companies, and you don't have to live in Florida to know it. Homeowners insurance, health insurance, and auto insurance are all getting unreasonably expensive. We need some sanity in this system.
FL is definitely a changed place in many respects. Luckily, we retained a home up north even though we became FL residents (The summers are brutal as we heard from year around residents when we returned late October). Definitely, HOAs have a dark side as well as the positive having been on one. We have moved back north and are content. Well, maybe a month in warmer climes. Good advice.
We've got retired air force friends that live in Sarasota and they've seen their insurance rates go up at least 50% per year for at least the last 6-7 years and property values/taxes have been doing the same. Recently their current insurance provider stopped covering properties in FL and in order to find a new policy, they had to replace their roof which was only about 8 years old. They are fearful that they are going to be forced out of FL to one of the lower cost states further north...
I grew up in Hollywood FL. At 18, my parents bought a nice big 3,5000 Sq foot house out west in Davie. My mom passed last year. My dad still owns it. It's paid for. The taxes are about $5,000. The next person that buys it will pay $20,000. I moved to WPB in 2007. I'm looking to move a little north again. I'll retire in 8 years or less. My son will be college age. I'll be 62. I can't wait to get out of Florida. If it wasn't for my son, I'd be gone already.
Azul, my friends originally lived in New York, came out to California made their money and decided to retire five years ago in Florida Sarasota bought their house outright they tried for five years. The house is now up for sale and they are moving back to the West Coast to Oregon to be near some family. But one of the things they could never adapt towas the political climate and they tried, but it was pervasive in every part of their life, even when they tried to make like-minded friends, it just wasn’t enough.
Florida has gotten problematic. The weird politicians, the insurance, the property tax, the out of control HOA, and the list goes on. Florida is no longer a place for middle income folks.
“Weird politicians” - that’s California. Insurance, every state is having issues and I’d suggest to you California is worse. HoA’s are everywhere and are just as bad/good everywhere.
@@Dottydawes Attacking Disney's freedom of speech is weird. Threatening the freedom of the press is weird. Practically no gun laws is weird. Florida is turning into a fascist state. Live and let live is my motto. Florida's motto is "we're going to control your thoughts, your speech and in the case of women, your bodies."
Yep, I go to Florida for the winter and have a house in Michigan. HOA fees are out of sight and property taxes are soaring and the worry of the hurricane season that’s going to be extended and trying to evacuate during that time is ridiculous. Can’t deal with the Flooding and bigger storms during the summer that could destroy all your belongings. We got Lucky last summer, but I feel a big one is coming. Yes the golf has been breaking records in temperatures feeding these hurricanes.
Yeah.. its really bad here today. 74 and sunny. You can only take the gray cold days in the northeast for so long.. If you can afford it, get away and enjoy life.
My taxes have been very steady. Not sure what your evidence is on that issue. My biggest concern is property taxes and auto insurance as well as my water bill. I hope you keep putting out negative Florida videos to get a lot of people to move out to give us some breathing space.
I plan to retire at the end of 2025 at 62 after 36 years in Telecom as a sales engineer. My wife will retire in May 2026 and she's loving life! But walking away from a good income stream and building the nest egg to living from the nest egg is a scary proposition couple with the alarming recession and CPI report
I feel your pain mate, as a fellow retiree, I'd suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $80k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
My advice: for newbies to grow financially this year, invest. Saving is good, but investing elevates your finances. Why newbie make huge losses on trade is because investing without proper guidance can lead to mistakes and losses. that will stop you from trading, this has been one of the biggest problem to new traders, I've learned this from my own experience
Vivian jean wilhelm is the advisr I use and im just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
Sold my home last year and the taxes (for the new owner) jumped 75%. They are paying 11k a year in RE taxes for a three bedroom home and 9k a year for hurricane insurance. Factor in 7k a year for car insurance and 8k a year in HOA fees and you begin to feel ripped off.
True of course to a certain extent. But you don’t get away from it if you rent. Landlords always pass on costs to the tenant. I know some who have sold and gone to a senior facility where they had to absorb 10 and 12% rent increases. Always better off with your own place. They left after their lease ran out and rebought another home. Truth is you never get away from inflation. Plan accordingly.
@@Growing-Our-Retirement We inherited a rental property. It was nothing but problems for the previous owner. Our state sides with renters who don't pay rent, the eviction process takes months and costs the landlord to begin the process each time. We inherited a run down house filled with trash, had to waste our time cleaning and fixing it up while working fulltime jobs and sold it, but the profit was not a windfall after repair costs and splitting the equity.
@@TRUTHbomb2.0, yes it’s not as easy as it looks and most certainly the tenants have many rights. I have successfully been a landlord but recent farmed it all out to a professional manager. They do all the day to day and are much better at raising rents than I was. I can still go in and make upgrades as I do like doing that. As you said it’s a lot when you also have a full time job. Real estate can be good, especially over long periods of time but it far from a passive way to make money.
Yep. I’m a NYer and Florida, in my opinion, is a terrible investment. The weather is one reason, the political situation in that state is another. Plus, the whole state is basically a giant nursing home.
I've been going to Mexico Beach, FL twice a year for about 20 years, hoping to live there or in nearby Port St Joe in retirement. Since I won't be doing that now, and with the money I've been putting away for that purpose, I just retired earlier than I planned last week instead. I'll be better off just renting a house for a month or two each year instead of buying. But I do love it there.
Nothing at all wrong with Florida. If you live by the water, if you live in a mobile home, If you live in an old home what do you expect. Every state has problems. Florida is a very rich state well run and safe!
I haven’t watched the video yet but I would suspect the political leaders determined to destroy the state, the storms, the lack of ability to get insurance, the fact that it will be underwater around the time you would likely need to sell, and a few other problems may make it non ideal.
Don’t forget the specific flood insurance too! Then fema only gives $750.00 maximum for major repairs for MILTON! SMH! Anyone needs to definitely get an inspection, most under pinned barriers are torn up too,$5,000.00 avg estimate price.it’s a shame.thking for sharing this info
I know that Florida isn't for me (for one thing I don't golf) but I have many snowbird friends that head there each winter. For us in the winter we head to the central Mexican highlands. At 5,000 feet elevation the weather is pleasant, not too hot or too cold (we don't have either heat or AC), we on a lake are surrounded by mountains and the hurricanes that do strike Mexico can't get past the mountains to head inland. We rented there for 4 years and bought a place 6 years ago (though I aways said we'd never buy 🤣). It varies but I can say that the property taxes and HOA fees we pay are a fraction of what you'd pay in the US. Five months in Mexico and seven months back home up north suits us and that's the main thing, find something that suits you. One thing for sure visiting somewhere for a few weeks isn't like living somewhere. Rent for good long while before you buy and keep your place up north until you are sure your move down south is going to work out for you. If you sell everything and move away and then it doesn't work out you have nothing to come back to. Don't get carried away changing your entire life during those early "honeymoon" days of retirement. Take your time, there's no rush.
We love Florida!!!!!! It depends where in Florida, central Florida is amazing. Cheaper, no hurricane risk, 1.5 hours to either coast. It all depends on what you want. We love it. HOA under 300.00 with so many amenities and activities we can't do 1/8th of what there is to offer. No condos ! No beachfront ! And it is a wonderful life.
these you tube people pander to the folks that are bitter because they can't afford Florida. They thought Florida would be cheap.. well paradise IS NOT CHEAP. here on the NE coast, plan on spending over 1 million, minimum for a home. My son paid 1.5 million for his Villa on Amelia Island FL. in 2019. It would sell in one week for 3.5 million today.
Need to do a rent vs buy analysis- given carrying costs associated with increased interest rates, homeowners and flood insurance which are required insurance if you have a mortgage , if you can get them at all…and the recent significant increases in insurance costs and increases in HOA fees for required maintenance of common areas, -the Florida housing market is unstable--there is ever increasing home inventory and increasing days on market- which suggest housing prices might face a significant decline in the near future- renting seems to be the smarter and more economical option
High prices for everything have severely affected my plan of retiring. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of investing in the stock market and potentially grow your retirement savings over time.
That's right. I am a wife, mother of four and new grandmother, 28 years in Corporate America, retired recently at 57 after discovering the freedom investing could provide, been contributing to my portfolio since the pandemic in early 2020, and have grown a $250,000 savings account to almost 1 million, credits to my investment advisor.
Melissa Terri Swayne is the coach that guides me, She has years of financial market experience, you can use something else but for me her strategy works hence my result. She provides entry and exit point for the securities I focus on.
Thank you for this tip. It was easy to find your coach on web. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
We've been self-insured since 2000. We've had no expenses in that time that we would have made an insurance claim for. We live in an area where homeowners and car insurance is very low, particularly compared to Florida. Living in FL is different from being a snowbird though.
@@Alan-rt3semight want to check CA. You can’t even get insurance there. Most other places insurance is increasing. My point these things are not unique to Florida. If people want lower everything then move to Wyoming or somewhere else in the mid west.
@@Dottydawes Not unique to Florida, but higher premiums/inability to get insurance is all about risk. Insurers constantly gather and analyse data to decide what properties they will insure and on what terms. They’ve been withdrawing from (and repricing) high climate risk areas for years, including CA. That’s why Citizens insurance was introduced in Florida. V high risk. Guess those crazy old insurance companies are in the ‘cult’ too.
have to disagree with you on this one Azul. FL is great, Property taxes are capped if you homestead at no more than 3 percent increase on home value per year. Yea some HOA costs can go up but honesty worth it. And if you are in new contruction and not right on the ocean like a few miles inland hurricanes are not much worse than a winter storm up north.
We are retired and moved to Florida 3 years ago. Love every minute. Sun everyday. We live in The Villages in the center of the state. 1 hour to each coast. Best thing we ever did. Golf, pickleball, music in the squares every night. Lots of new friends. Came home to St. Louis for Christmas, gray skies every day and cold. 🌴🛺🌞🌞🌞
The grass isn’t always greener. Even the bottom end- manufactured home communities are in deep deep trouble . Skyrocketing land leases , weather events and uninsurability.
The climate in Florida is nice from mid-November to mid- May. After living in Germany two years, when I returned to Florida, it took weeks before my body could adjust to the climate change.
Yep. I considered Florida for a hot minute. Decided to stay in Colorado. Insurance is an issue here but not as bad. 300 days of sun and no cockroaches.
I am a Florida native retired now. My family has been in Florida for over a hundred years. My home is paid off. But I pay about 4K for insurance per year for a modest house. About the same for car insurance. In Florida that is also outrageous.I just spent about 30K in home repairs over the last two years. The homes in Orlando are about half a million just for a working class house. The area is full of homeless people because an apartment cost about 2K while the average salary is about 36K per year, My children and grand children are close by. If not for that I sell and relocate to another state. I make in retirement a low 6 figure income before investment income. Unless you are packing a lot of money and or have family in the area not so desirable to retire to any more. My wife's Georgia is a better choice, lower cost of living and weather is close to Florida's weather.
Good video. My parents where working class and fulfilled a dream of a small retirement condo in Florida. Unlike your parents my mine loved being in a 55 plus community. Fast forward, two years ago with my father no longer with us and my mother no longer wanting to down offered it to me. I declined. Between with the insurance issues, weather, etc. I declined. I am 64 and many of my friends are not interested in going down.
I live in Florida.....and have been here for over 10 years. We are retired 62/59.....we would never leave Florida. We have dealt with 2 hurricanes and haven't had any issues with damage or insurance coverage. I wish more people would listen to residents here and not those who don't. Florida is awesome.....👍.....don't buy into the fear!
@@EnthusiasmisgoodI agree with him and I’m in the Daytona Beach area. Nearly every state has issues, me, Florida covers nearly all my needs but it isn’t perfect - no place is.
It’s not “fear”. It’s simply preference and opinions. And if you’ve only lived in FL for 10 years, you have little idea about what Florida really was, is, and becoming. Additionally, where you live does not represent the entire state.
The sea level is not rising. They have been measuring sea level in Stockholm harbor for several hundred years. Practically no change. You can also go to the Philippines around limestone outcroppings in bays. The ocean has been lapping the same area for hundreds of years. Do you believe everything the MSM puppets tell you? All coastal areas were supposed to be under water according to Al Gore, decades ago.
@@RyanBerich-u1wI live on the water and it isn’t rising. Since the biggest proponent of Global warming was Al Gore can you explain to me that if he truly believed it - why did he buy a house on the Ocean? Same question about Obama, but he bought two properties on the water.
I've been in touch with a financial analyst ever since I started investing. Knowing today's culture The challenge is knowing when to purchase or sell when investing in stocks, which is pretty simple. On my portfolio, which has grown over 90% in a little over a year, my advisr chooses entry and exit orders
I retired 5 years 2/1/20. Moved to Florida in 21 from ga after son grad from high school. He just grad from college this Dec and we couldn't be happier. We are going nowhere we live FL!!! And retirement!! You don't have to be rich to live in Florida. All our friends and neighbors are millionaires. We live in a 55+ community and life is good.
Been in Florida for 3 years, I regret it. I was asked to transfer to Tampa for work, it's been a nightmare. This place sucks, hurricanes, over crowded, taxes, HOA, and insurance will cost and arm and a leg. Once I retire I'm out of this state ASAP.
As a lifelong resident of Florida I can honestly say family is the only reason I stay here. Expenses like property taxes, flood insurance and homeowners insurance are greatly outpacing inflation. I do like the warm temperatures. I seem to be a lot more sensitive to cold than I was when I was younger. After my last grandchild goes away to college I want to be a snowbird. If I can swing it financially.
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Can you share details of your advisor? I want to invest my increased cash flow in stocks and alternative assets to achieve my financial goals.
Annette Christine Conte is the licensed advisor I use and i'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
I've lived in Florida for 26 years, and the state is amazing. I absolutely love it here. Also, everything you say is true; the cost of living is higher every year, along with taxes, insurance, hoa fees, etc. Even with all of that, I don't want to live anywhere else.
I feel like there high anywhere. I live in new Hampshire and its always been more expensive than Florida 😂and I'm
Not a fan of the weather with that being said I'm trying to move to Florida area
Don’t to crowded already
But it is worth every dollar. We live in Paradise... I don't care how high my taxes or insurance are... life is short... I look forward to every day here on Amelia Island, Florida. already kayaked this morning, and now walking the puppy on the beach. Doing some fishing later today!
Been in FL for 12 years now. Stay away from HOAs and water, and you'll be fine. About 30 miles inland has been good to us !
30 miles from a beach? what's the point ? We live right on the beach here in Amelia Island, Summer breezes and fishing every day. 30 miles OMG... what you want is to live the cheap life.
@@FrankGiuliano Over an acre of yard, nice shop, great weather, no flooding, and a LOT less insurance and taxes. Not to mention no one bothers me out here. LOL
My wife loves the beach. I like it OK but it doesn't do all that for me. Rather be on the river and I can be their in 5 minutes.
Lived in Florida full-time from 1969 to 2020, yes it used to be a wonderful state, not overly political. Not crowded, beautiful weather, low cost of living. Yes, the jobs did not pay well even back then, but expenses matched income. Jump to 2020. No, the weather is not nice 9 months out of the year anymore, (First house we bought in the West Palm Beach area didn't even have AC, but we didn't miss it). Now because of the building over of every single green space the temperatures are unbearable, as is the traffic. And, I went through way too many hurricanes to mention.
I gave up a beautiful townhouse in a gated community and moved to the mountains of North GA. I do not have to worry about a job as I'm not retired and a pension that has a 3% increase annually.
All expenses are drastically lower, traffic is drastically lower. Yes, we have a few hot afternoons in the summer but in the mountains, it is cool in the morning and again as the sun goes down. No HOA, just a beautiful view of the lake and the mountains. Have not missed Florida since the day I left in 2020. PS I love the change of seasons and the colder weather.
I'm in WPB for 18 years. I was in Broward for 36 years. My son is 11. My dad is 85. I'm retiring in 8 years and I'm out!
I don’t mind cold weather either. I’m in PA and took a 4 mile hike in 20 degree weather last Sunday.
Yes if I have the opportunity to live and retire in Puerto Rico I will. ❤
I bought a home in a new community in Tampa Florida in 2020. Now I regret it. Florida is not the same state before everything was affordable. I am stuck with a mortgage on the home and I am 60 years old I have $ 154,000 remaining to pay off the mortgage. I want to sell the home so me and my wife can settle down in Puerto Rico to retire to enjoy the
Good call. Love the lakes of North Georgia.
i had always dreamed of Florida/ arizona/texas retirement, but its gotten 2 expensive! I retired Oct 30, 2024 and moved with my Thai wife to Thailand! renting a 3 br 2 bath home for $288 a month. just got the first electric bill it was a few pennies over $50. We eat out 2 means a day lunch or dinner can average $12 to $20 for the two of us. World class hospital in Hua Hin, we are in Prachuap Khiri Khan. good luck to all!
FL is no longer a state for people who live on a moderate, fixed income. Unless you are upper class, or just plain wealthy, the average person, and the majority of retirees are beginning to find the state unaffordable.
I live here and am still working and find it unaffordable!
This is increasingly true across the U.S. - unless you live in an area that has little to offer.
So why should Paradise be cheap? like anything in life, if you can't afford it - don't buy it ! Retire in Scranton, Binghamton, Buffalo, Baltimore, Newark, Camden, Memphis, Erie, those places are really cheap. Why do people feel that Florida should be Cheap.. you missed the boat folks.. that was 30+ years ago..
@@FrankGiuliano This is what I'm struggling with trying to decide. I live in NY but have a second home in rural Pa that I was going to retire too. Trying decide to move closer to Scranton to be near hospitals as I age or go to Florida for nicer weather and healthcare.
My wife and I retired at 53 sold everything bought an RV and lived on the road full time for 2 years. That was 6 years ago, since then we bought a ranch in Wyoming (cheap state to live) and land in AZ that will build our retirement house. What I’ve learned is most states have a great 1,2 or 3 months where it would be perfect to live there (expenses excluded) but the rest of the time it’s cold, hot, rainy, buggy, storm’s whatever so we travel all around the country for most of the year living enjoying those few precious months in a state then move on. We live at the ranch in the summer months then hitting the road the rest of the time. Merry Christmas everyone!
Completely agree!! With elder parents living in FL, there’s the additional issue of getting them out when there is a hurricane approaching. Super stressful, heavy crowds on the highway, gotta make a split decision to drive a full day down there and another full day back to bring them to our house to ride it out. And then waiting for the power to come back on before returning, even if no damage. Had to do that twice this year!! It’s not the retirement nirvana it used to be - quite the opposite now.
FL is oppressive for 8 months of the year. And that's generous. Air conditioned space to air conditioned space is no way to live.
Really.. Odd, I live here, never experience that. Maybe you should stay in NY..
We sold our apartment in Delray and now in Portugal 😂😂😂😂😂😂
I’ve been in Florida for 5 years in a HOA community; I really love it here. Seeing the sun most days is wonderful.
It's a wonderful life. We wake up looking forward to each new day. Surrounded here on Amelia Island Florida by the Ocean and palm trees. kind - positive thinking people. Sun, fishing, biking, kayaking, boating, smiling, 12 months a year.
As a 4th generation Floridian and suffering the scourges of rapid development and traffic, I agree. Please don’t come. Thank you.
I tell those folks don't come, alligators are eating people, summers are over 120 degrees, the ocean is full of sharks, hurricanes have washed most folks to sea, the sun will destroy your skin (most of us look like lobsters now). Traffic is so bad that it can take days to get to work... stay where you are...please.
We did our research and live in an area in FL that does not get directly hit by Hurricanes, and overall we are living well retired. We are spending more than we anticipated, but living better economically, politically and spiritually than when we were in Cauliflower! To single out only Florida is short-sighted since places like Idaho, Texas, Utah, the Carolinas and even Tenn are all more expensive post other failed state migrations, post-Covid, and after inflation, bad govt policies and greedy insurance (all types) companies!! You just have to plan to save and be wise about investing and spending. And I wouldn’t move to NY if it was the last state left! IMHO!!
Exactly. EVERY place has become more expensive
If you own your home outright, you are not required to have homeowners insurance.
I thought about retiring in Florida, but I found on Airbnb that most condo's can be rented for an entire month. No property tax, no insurance, and if you want to go to another area you just change it up.
This is what I’m thinking too….
Six months Portugal. Nice weather, nice people, good food, affordable, beautiful. Everything Florida doesn't have. Affordable healthcare even without insurance ( crazy ain't it?)
@@BartmanMi But it doesn't have Costco.
Hi Azul. Please add Texas to that list. Not just Florida. We are not sure we will retire here now because our home owners is so expensive, property taxes are 2.9%, and the overall cost of living is getting worse. Even with no state income tax, it can be more expensive in Texas than a state that has income tax. One must do a total cost of living calculation to really know the true long term cost. Sad state of affairs.
You folks what free, cheap living.. it doesn't exist. life is short, live your dream.. I'm on the beach here in Florida today.. I'm the only one here, with my dog.. I'll do some fishing too.
Sadly most desirable places are expensive for retirees. I checked CO, MT, SC and other retirement locations and they are all pricey. The trick is select a nice location and live within your means.
I travel to Florida quite often for business and the humidity in the summer alone will keep me from moving there.
Lived there for 2 years. In the summer, you just run from one air-conditioned environment to the other, kinda like here in the winter where we run from one heated environment to the other.😅
Yes we have humidity in Florida, but I don't have to shovel it and I've never slipped on it. 😂
Yeah, people are melting here.. some of us never leave our homes.. we become hermits... stay where you are. Don't even come for business.
I’ve lived in Florida for 40 years. Miami to be exact. I can’t wait to leave. The traffic and heat have become unbearable. There’s no real sense of community, as everyone here is from someplace else, and people and drivers are NOT KIND to each other. I’ll be leaving for moderate weather, seasons, a kind community, and better affordability.
He is right, don’t come to Florida, we get hurricanes every day! Stay home in NY, too many people are in Florida already!
You're right!! Please don't come to Florida 😘
Yes please stay in Florida.
@@BartmanMi 😘
The good news is that those NY and NJ folks can no longer afford Florida, since their home values in NY and NJ have declined. Discourage those folks as much as possible.
First, I would NEVER own a house in Florida. Those days are over. There are literally 1000’s of older building in South Florida that need to be retrofitted. The insurance companies will not touch them and the HOAs are completely underfunded. Many of them will default. Renting is fine and there are plenty of properties. Second, the weather is NOT nice 9 months out of the year. That’s nonsense. It’s nice about 4 months out the year. The rest of the time it’s humidity and mosquitos.
Yes when I visit my daughter in Yulee it's mostly always hot so we visit in the Fall.
Two other problems in Florida: auto insurance rates and condo towers with really expensive structural issues.
you are reading a lot of bull. Auto insurance here is 1/2 what my son's was in NY... and less than 1% of condos in South Florida have been found to have issues that need mitigation. less than 1% ..
@@FrankGiuliano Your son is younger so probably has higher rates. Bankrate average car insurance has Florida at $4,088. New York at $3,846. There are a lot of states, though, where it's below $2,000. There are 1.5 million condos in Florida. 1% of that is a huge number of condos.
Like anywhere else, there are pros and cons.
Florida is a great place to visit for a few days; but I wouldn't live there even if you gave me a house.
Florida was never supposed to be built up like it is today. Please Google or type sinking buildings along Florida coastline on RUclips.
google crime in NY, NJ, IL, WA, CA, OR, DC, MA, CO... Did you know that sink holes are isolated to the area in Central Florida where Limestone is the bedrock?
Like so many from the "North", I had always planned on eventually buying a place in FL for my retirement winters (not to stay all year, but a few month every winter as a way get away from "our" winters up North. Over the last few years however, after discussions with friends (of which some already have real estate in FL) and given the seemingly increased risk of those bigger hurricanes, I've since revisited this plan and simply want to rent for a few months at a time during winter. Still costly relatively speaking, but it remains a cheaper options than all the annual condo fees, improvement costs, regional tax costs and never ending increasing costs of insurances, etc (noting that all of these are indexed, sometimes way more than inflation). But, as important, we're not responsible for the cost of disasters or loss of value of the real estate itself AND we're keeping our flexibility to go elsewhere for parts of winter on any given year. There's value in this.
The moneys I had saved up for this remains invested and brings a decent annual return which covers more than the few months of rental costs, (... and it's "indexed" because I'm only using a portion of the returns to pay for rental costs). My specific example; the place I rent for 2 months charges me $12,000 USD (yes, expensive, thus the "relatively costly" above mentioned, but pretty nice and well located). This condo's value, if purchased now, would go for $750,000 USD. At an avg 6% return, that money invested gives me, on avg, about $45,000 of which I use about $15,000 gross (to get the $12,000 needed to pay for rental) and the rest ($30,000) remains reinvested and is added to the base capital, bringing the total invested amount to $780,000 for the next year. That investment (assuming the same avg 6% return) will give me almost $46,800 in growth that year. At the same time, the condo owner may increase his rent by 5% for inflation to $12,600 (for 2 months), so a $600 more. But I've made $1,800 in incremental returns (or about $1,200 net). More than the actual rental increase. What I'm also being told is that this condo owner now has general costs of about $20,000 per year for all the condo fees, insurance and taxes (and that's without improvement costs he has to inject every so often (for roof repairs, widows, central A/C, elevators, etc..). As long as my cost of rent doesn't exceed the annual costs of owning (which all increase year over year), I'll rent, keep my freedom of choice of location, and have peace of mind. Add to this the specter of water level increasing (if it's a thing)... No thanks. Rental is fine.
Great example Robert. I'm glad it is working out so well for you. Thanks for taking the time to share your experience (and the thorough analysis). I'm sure your example will encourage others to consider renting instead of buying as well. 🙏 Azul
Amazing. Do you have significant moving expenses?
@@AzulWells I appreciate your insight for retirees, which I’m now. Return to basics, act now, avoid the frills and enjoy. Was fortunate enough to have had good advise when younger, so planned long ago and life was good to me… still is and I’m thankful every day for it. Retired mid 50’s and living comfortably and following your advices with my significant other. Thank you.
OMG.. You have a lot of issue you have to deal with.. Truth is : YOU CAN"T afford Florida... You are old, and still worried about your "investment"! You will not be around much longer - others will enjoy your savings and 6% interest.. Keep working those numbers bob.. a waste of time... the clock is ticking.
I live in The Villages. Hurricanes and flooding have never been a problem for the last 11 years since I moved in. Definitely stay away from the coasts and stay out of flood zones unless you can afford the insurance.
The Villages ! not near a beach, never a breeze, 170,000 people, people all over 55, not a young person to be seen, homes 5' apart.. yeah, that's real "Living". We live on the Beach on Amelia island.. this is living...
I own a home in Florida and a home in Virginia. Guess what. Insurance, taxes and maintenance are going up equally in both places.
We had a home in Westchester County NY for 20 years, as a second home. We sold it due to the high taxes and insurance, and $10,000 a year for heating oil! Plus, my wife and I were paying NYS income tax which totaled over $55,000 a year! No income tax here in Florida. no heating oil, no snow removal, no "spring clean up", no miserable unhappy folks.
Happily living in South Carolina. We don’t miss the Philly PA area one bit.
PA is a great place to live as well. A heck of a lot colder in the winter but not quite as hot in the summer. But I agree that South Carolina is a great place to live as well.
people want a cheap place to retire.. Tell them about "kensington" in Philly..
If you ain't got the 3 Rs don't even think about it.....
Rich. Retired. Republican.
Exactly...
Well said.
@@Kevin-zz9nc yup
I'm 59 and have lived in NC almost my entire life. I don't want to have to "retire to" anywhere. My family and friends are here, and I am content.
I don’t understand the appeal of FL. The weather and sunsets are nice, but It’s way too flat for my liking.
The weather is nice 5-6 months of the year only.
I grew up outside Asheville, NC and I guess that is why I prefer mountains, vegetation, and four seasons.
Just moved to Florida, Daytona Beach area. No problem getting insurance. Actually my homeowners was cheaper than Phoenix. Agent told me if you can see the ocean from your house, you can’t get coverage.
Just wait your turn is coming I’ve been here for 7 years
Hopefully what happened to me doesn't happen to you. I bought a home, not in Florida. Its 6000 sq. feet. When I paid the first year insurance, I thought it was a wonderful premium. Then I got a call from the insurance carrier. An auditor said that the agent was believed to have underreported the replacement value and they would have to do an appraisal on the home. Found out the agent was wrong in his replacement value and my insurance more than doubled the 2nd year. The insurance appraiser told me that it was common for agents to under report replacement costs so they win the "business" and get their commission. Hopefully, that's not happened to you.
I have been a snowbird going between NJ and FL. Purchased the home in FL in 2011 on the gulf coast. My FL homeowners & flood insurance plus the increase in property taxes has made FL more expensive (same value home) then in NJ. Today my property taxes and insurance runs $2k a month - in 2011 the cost was $600 a month.
Wow
I’d be gone
Don't move to NC. We are full of halfbacks. Got no more room.
@@jessegarman7899 Plus you now have Belichick for 5 years.
Very surprising considering super high NJ property taxes. I just sold my NJ house which had "cheap" property taxes (for my affluent area) of $22,000 annually! However you couldn't pay me enough to live in FL for many reasons.
LOL! In NJ my property tax was $6400 a year, my similar sized home in Florida is $1139 a year. Homeowner's insurance in Florida $3300 a year. My home in NJ cost $325k when purchased 2006, my Florida home cost $91k in 2018 and is less than a mile from the Gulf. My screen door got torn off, we lost power for 12 hours, I have a solar generator, a small piece of trim was pulled off as the result of 2 hits from hurricanes. Stay away! We don't want you here. We don't have any state wage tax either. LOL! Stay away, you'll hate the sunshine and all the palm trees.
Every time we see a NY or NJ license plate, here in Florida, we say "OMG I hope they don't stay" . those people change the entire peace of place.
@@FrankGiuliano I left New Jermany in 96'. I moved back for a few years and was arrested on false charges because there was a photo of me on facebook holding a gun, was hit with a paternity suit I knew nothing about and as soon as I cleaned all the BS up, I hightailed out of town and back to Florida. It's a horrible place to live.
We were thinking about following neighbors down to St Petersburg. Even before the latest storms we changed our minds and decided to retire to outer part of Cape Cod. We will travel during the coldest and wettest part of the winter/spring. Plus, the summer fall on the Cape Cod are amazing.
Too much crime and the sea is rising destroying waterfront property
Walking in NY talking about high cost of living in Florida🤣🤣🤣
Lived through Irene and Sandy which caused more damage then anything I have experienced in Florida
Florida is awesome! But not for everyone.
Enjoy restaurants in Manhattan - they are some of the best.
Florida Taxes are reasonable if it is your primary residence, insurance is reasonable if your house is built to current codes, don’t live in an HOA or flood zone (even X is a flood zone, choose carefully). Live far enough north that the escape routes are doable.
I’ve lived in Florida for twenty years. You are right it’s horrible here, no one should move to Florida😂
We don't need anymore
People like Robert above spend their lives convincing themselves (on paper) that they are saving money.. then their future is a box.
I don’t see things that way. My wife and I moved to the Tampa area from Minnesota in 2016. Between then and when we retired the first of 2024 we saved a huge amount of money not paying MN’s 8% income tax. We love living here in a wonderful family neighborhood.
Yes we had two hurricanes this year, but other than Irma in 2017, there hasn’t been any other risk to the west coast.
You're forgetting Hurricane Ian in 2022.
I'm in New Hampshire. Safest state in the country, no income taxes, no sales taxes. It does get really cold here but it does in Minnesota as well. I love having four seasons and the really low taxes don't hurt either. One of the other big factors is world-class healthcare an hour away in Boston; certainly a consideration as a senior. My mother lived in a place with a life expectancy of 92 years and she handily beat that.
I’m in NH as well. Having no sales tax or income tax is great until the property tax bill comes. We’re up to almost 30k/year. We just don’t want to deal with the NH winters anymore when we retire (in about 5 years). We have a place in Florida that we’ll be going to. We currently rent it full time so it doesn’t cost us anything to have it.
You also bought before the pandemic when prices tripled and should be grandfathered in for the homestead real estate tax, which means your real estate taxes are capped. I bought my retirement home in South Carolina in 2010 when I was in my 40’s and since 2020 it has now almost tripled in value. I’m retiring in 3 months and was planning to buy a place in Naples, but the places I was looking at before the pandemic now have tripled in cost, which means my real estate taxes would be triple also. Throw in the issues with getting insurance and having to deal with your roof being inspected or replaced every 7 years and it’s almost expensive as living in the suburbs of NYC. Florida, like South Carolina was a great buy until 2020, now not so much.
My company paid a consultant to provide retirement classes when I was 24 and just started saving for retirement. The class was called "The Kids Table" and basically their advice was go with a target retirement fund that aligned with your 65th birthday. That was 20 years ago. It is the only thing I've ever invested in. How else can I better my finance?
target date funds have made me a multimillionaire. i also watched them drop 40% in a very short time and take a long time to recover.
Agreed, when it comes time to retirement planning, following the steps of a well experienced advisor did the trick for me in barely 5 years, turned my $500k capital to 5 figure monthly dividends. If you want to keep it very safe, then Vanguard TDF may be for you.
this is superb! Is there a problem sharing details of your financial advisor ? I have my money in a Roth, and I am trying to diversify my investment for better growth
Stacy Lynn Staples is the licensed advisor I use. Just google the name and you'd find basic info. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
thanks for putting this out, curiously inputted Stacy Lynn Staples on the web, spotted her consulting page and was able to schedule a call session, she actually shows a great deal of expertise
Everyone is welcome to come to Wisconsin! Cheap liquor and plenty of fresh water. If you love cold weather you will love it here.
Preach brother!!! As a life long Florida resident and now retired, I would love it if you’d scare some of these new (or potential) residents back where they came from!
Folks don't shop around, in my opinion.
My property taxes are less than $1,600 and includes trash service.
My property insurance is less than $1,400 and car insurance for 2 vehicles, one with full coverage is less than $1,500 annually.
My wife and I live comfortably off our Social Security income and we can afford 5 weeks of vacations each year.
Worst electric bill was $200, but averages $100.
Personally, I recommend that newcomers rent for a year so that they can get a feel for the State and determine what suits them best.
I have lived in several locations around the State for 50 years and I chose to retire in North Florida in a quiet area on a river in the woods.
The other side of the river is owned by the State, so I'll never have to look at development.
My body doesn't recognize the allergens from insect bites, so the insects are mostly tolerable to me.
Summers are rough, but I have no problem working outside when it's 96 Degrees outside.
I just pace myself.
One year should be enough to figure out if the State is right for you or not.
Some move to Florida and become "Half-Backs" ", by moving to Georgia, N. Carolina or Tennessee.- halfway back in the direction that they came from.
Our house was engineered to withstand 130 MPH winds and survived both Idalia last year and Helene this year, even though they were direct hits for this area of the State.
I bought a condo in Fort Lauderdale in 2003 but have live-in California for the past 12 years. Yes the maintenance fees and insurance have skyrocketed in Florida but the CA state taxes are crushing. I'm retiring in 2025 and relocating back to Florida. Home ownership in CA is completely without reach, I'll take the risk of hurricanes in FL any day,
Azul, I live on Staten Island, about 13 miles away from where you are in this video, and Hurricane Sandy changed our flood zones and my homeowner insurance hit the roof. 13 years ago and they haven’t changes the zones. Meanwhile, my area didn’t flood 😡
Florida has been in the path of hurricanes since time immemorial.
If it were such a bad place to retire, it would never have become such a destination. Something has changed more recently with insurance companies, and you don't have to live in Florida to know it. Homeowners insurance, health insurance, and auto insurance are all getting unreasonably expensive. We need some sanity in this system.
The last 4 years drove prices through the roof on everything... Home and car payments doubled everywhere...
FL is definitely a changed place in many respects. Luckily, we retained a home up north even though we became FL residents (The summers are brutal as we heard from year around residents when we returned late October). Definitely, HOAs have a dark side as well as the positive having been on one. We have moved back north and are content. Well, maybe a month in warmer climes. Good advice.
We've got retired air force friends that live in Sarasota and they've seen their insurance rates go up at least 50% per year for at least the last 6-7 years and property values/taxes have been doing the same. Recently their current insurance provider stopped covering properties in FL and in order to find a new policy, they had to replace their roof which was only about 8 years old. They are fearful that they are going to be forced out of FL to one of the lower cost states further north...
I grew up in Hollywood FL. At 18, my parents bought a nice big 3,5000 Sq foot house out west in Davie. My mom passed last year. My dad still owns it. It's paid for. The taxes are about $5,000. The next person that buys it will pay $20,000. I moved to WPB in 2007. I'm looking to move a little north again. I'll retire in 8 years or less. My son will be college age. I'll be 62. I can't wait to get out of Florida. If it wasn't for my son, I'd be gone already.
Azul, my friends originally lived in New York, came out to California made their money and decided to retire five years ago in Florida Sarasota bought their house outright they tried for five years. The house is now up for sale and they are moving back to the West Coast to Oregon to be near some family. But one of the things they could never adapt towas the political climate and they tried, but it was pervasive in every part of their life, even when they tried to make like-minded friends, it just wasn’t enough.
Freedom is too hard for lots of people.
Axil, like most of your posts but I think you are wrong on this. Yes Florida has issues but so do most places.
Florida has gotten problematic. The weird politicians, the insurance, the property tax, the out of control HOA, and the list goes on. Florida is no longer a place for middle income folks.
“Weird politicians” - that’s California. Insurance, every state is having issues and I’d suggest to you California is worse. HoA’s are everywhere and are just as bad/good everywhere.
Bye! We won’t miss you!
@@Dottydawes Attacking Disney's freedom of speech is weird. Threatening the freedom of the press is weird. Practically no gun laws is weird. Florida is turning into a fascist state. Live and let live is my motto. Florida's motto is "we're going to control your thoughts, your speech and in the case of women, your bodies."
Yep, I go to Florida for the winter and have a house in Michigan. HOA fees are out of sight and property taxes are soaring and the worry of the hurricane season that’s going to be extended and trying to evacuate during that time is ridiculous. Can’t deal with the Flooding and bigger storms during the summer that could destroy all your belongings. We got Lucky last summer, but I feel a big one is coming. Yes the golf has been breaking records in temperatures feeding these hurricanes.
I moved to Florida from the Midwest. Best decision ever. No comments.
Yeah.. its really bad here today. 74 and sunny. You can only take the gray cold days in the northeast for so long.. If you can afford it, get away and enjoy life.
But not in Florida.... "The gunshine state" is beat...
My taxes have been very steady. Not sure what your evidence is on that issue. My biggest concern is property taxes and auto insurance as well as my water bill. I hope you keep putting out negative Florida videos to get a lot of people to move out to give us some breathing space.
It's not going to stop people from moving to FL.
I plan to retire at the end of 2025 at 62 after 36 years in Telecom as a sales engineer. My wife will retire in May 2026 and she's loving life! But walking away from a good income stream and building the nest egg to living from the nest egg is a scary proposition couple with the alarming recession and CPI report
I feel your pain mate, as a fellow retiree, I'd suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $80k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
My advice: for newbies to grow financially this year, invest. Saving is good, but investing elevates your finances. Why newbie make huge losses on trade is because investing without proper guidance can lead to mistakes and losses. that will stop you from trading, this has been one of the biggest problem to new traders, I've learned this from my own experience
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
Vivian jean wilhelm is the advisr I use and im just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
Thanks a lot for this recommendation. I just looked her up, and I have sent her an email. I hope she gets back to me soon.
The Alabama Gulf Coast (Baldwin County) is an excellent place to retire. Home prices are reasonable, taxes, insurance and utilities are low.
Sold my home last year and the taxes (for the new owner) jumped 75%. They are paying 11k a year in RE taxes for a three bedroom home and 9k a year for hurricane insurance. Factor in 7k a year for car insurance and 8k a year in HOA fees and you begin to feel ripped off.
Moved to Florida 10 years ago from commyfornia. Best decision we ever made! Please take Azuls advice and don’t come.
Enjoy your weather! when its 120 in December your 100 year hurricane will happen every year
It's such a wonderful day when you finally own your home, but you soon realize that repairs and maintenance actually mean the home owns you.
True of course to a certain extent. But you don’t get away from it if you rent. Landlords always pass on costs to the tenant. I know some who have sold and gone to a senior facility where they had to absorb 10 and 12% rent increases. Always better off with your own place. They left after their lease ran out and rebought another home. Truth is you never get away from inflation. Plan accordingly.
If you have owned a home for any longer length of time you have likely done very well. You probably should have bought a rental property too.
The HOA’s are evil and run by people who probably couldn’t run a lemonade stand. Avoid at all costs!
@@Growing-Our-Retirement We inherited a rental property. It was nothing but problems for the previous owner. Our state sides with renters who don't pay rent, the eviction process takes months and costs the landlord to begin the process each time. We inherited a run down house filled with trash, had to waste our time cleaning and fixing it up while working fulltime jobs and sold it, but the profit was not a windfall after repair costs and splitting the equity.
@@TRUTHbomb2.0, yes it’s not as easy as it looks and most certainly the tenants have many rights. I have successfully been a landlord but recent farmed it all out to a professional manager. They do all the day to day and are much better at raising rents than I was. I can still go in and make upgrades as I do like doing that. As you said it’s a lot when you also have a full time job. Real estate can be good, especially over long periods of time but it far from a passive way to make money.
Yep. I’m a NYer and Florida, in my opinion, is a terrible investment. The weather is one reason, the political situation in that state is another. Plus, the whole state is basically a giant nursing home.
Please stay in New Yawk...
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I've been going to Mexico Beach, FL twice a year for about 20 years, hoping to live there or in nearby Port St Joe in retirement. Since I won't be doing that now, and with the money I've been putting away for that purpose, I just retired earlier than I planned last week instead. I'll be better off just renting a house for a month or two each year instead of buying. But I do love it there.
Florida is a great place if you are already here. But trying to move here and find a place and find work and afford everything is hard to do.
Nothing at all wrong with Florida. If you live by the water, if you live in a mobile home, If you live in an old home what do you expect. Every state has problems. Florida is a very rich state well run and safe!
I haven’t watched the video yet but I would suspect the political leaders determined to destroy the state, the storms, the lack of ability to get insurance, the fact that it will be underwater around the time you would likely need to sell, and a few other problems may make it non ideal.
Don’t forget the specific flood insurance too! Then fema only gives $750.00 maximum for major repairs for MILTON! SMH! Anyone needs to definitely get an inspection, most under pinned barriers are torn up too,$5,000.00 avg estimate price.it’s a shame.thking for sharing this info
DOn't move to NC either. We are totally full up.
😂
I've been to Florida a couple of times. Never want to waste any time there again.
That's our blessings
Good
I know that Florida isn't for me (for one thing I don't golf) but I have many snowbird friends that head there each winter. For us in the winter we head to the central Mexican highlands. At 5,000 feet elevation the weather is pleasant, not too hot or too cold (we don't have either heat or AC), we on a lake are surrounded by mountains and the hurricanes that do strike Mexico can't get past the mountains to head inland. We rented there for 4 years and bought a place 6 years ago (though I aways said we'd never buy 🤣). It varies but I can say that the property taxes and HOA fees we pay are a fraction of what you'd pay in the US. Five months in Mexico and seven months back home up north suits us and that's the main thing, find something that suits you.
One thing for sure visiting somewhere for a few weeks isn't like living somewhere. Rent for good long while before you buy and keep your place up north until you are sure your move down south is going to work out for you. If you sell everything and move away and then it doesn't work out you have nothing to come back to. Don't get carried away changing your entire life during those early "honeymoon" days of retirement. Take your time, there's no rush.
How did Jerry Pinkas hijack Azul's account?
We love Florida!!!!!!
It depends where in Florida, central Florida is amazing. Cheaper, no hurricane risk, 1.5 hours to either coast. It all depends on what you want. We love it. HOA under 300.00 with so many amenities and activities we can't do 1/8th of what there is to offer.
No condos ! No beachfront ! And it is a wonderful life.
Awesome video, keep up the good work! We don't want anyone to come to Florida especially those "snowbirds" from New York! 😘
these you tube people pander to the folks that are bitter because they can't afford Florida. They thought Florida would be cheap.. well paradise IS NOT CHEAP. here on the NE coast, plan on spending over 1 million, minimum for a home. My son paid 1.5 million for his Villa on Amelia Island FL. in 2019. It would sell in one week for 3.5 million today.
READING BETWEEN THE LINE: As Trump deports most of the day labors that do constructions in MAGA Florida, your repair cost will skyrocket.
🤣🤣🤣
Need to do a rent vs buy analysis- given carrying costs associated with increased interest rates, homeowners and flood insurance which are required insurance if you have a mortgage , if you can get them at all…and the recent significant increases in insurance costs and increases in HOA fees for required maintenance of common areas, -the Florida housing market is unstable--there is ever increasing home inventory and increasing days on market- which suggest housing prices might face a significant decline in the near future- renting seems to be the smarter and more economical option
High prices for everything have severely affected my plan of retiring. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of investing in the stock market and potentially grow your retirement savings over time.
That's right. I am a wife, mother of four and new grandmother, 28 years in Corporate America, retired recently at 57 after discovering the freedom investing could provide, been contributing to my portfolio since the pandemic in early 2020, and have grown a $250,000 savings account to almost 1 million, credits to my investment advisor.
pls how can I reach this expert, I need someone to help me manage my portfolio
Melissa Terri Swayne is the coach that guides me, She has years of financial market experience, you can use something else but for me her strategy works hence my result. She provides entry and exit point for the securities I focus on.
Thank you for this tip. It was easy to find your coach on web. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
We moved to The Villages in central FL and wouldn’t change it for a thing. Insurance is going up everywhere.
Homeowners insurance is going up in FL a lot faster than in other states. Because of the hurricanes and flooding risk.
We've been self-insured since 2000. We've had no expenses in that time that we would have made an insurance claim for. We live in an area where homeowners and car insurance is very low, particularly compared to Florida. Living in FL is different from being a snowbird though.
@@Alan-rt3semight want to check CA. You can’t even get insurance there. Most other places insurance is increasing. My point these things are not unique to Florida. If people want lower everything then move to Wyoming or somewhere else in the mid west.
@@Dottydawes Not unique to Florida, but higher premiums/inability to get insurance is all about risk. Insurers constantly gather and analyse data to decide what properties they will insure and on what terms. They’ve been withdrawing from (and repricing) high climate risk areas for years, including CA. That’s why Citizens insurance was introduced in Florida. V high risk. Guess those crazy old insurance companies are in the ‘cult’ too.
have to disagree with you on this one Azul. FL is great, Property taxes are capped if you homestead at no more than 3 percent increase on home value per year. Yea some HOA costs can go up but honesty worth it. And if you are in new contruction and not right on the ocean like a few miles inland hurricanes are not much worse than a winter storm up north.
I couldn't agree more. There is nothing appealing about Florida.
We are retired and moved to Florida 3 years ago. Love every minute. Sun everyday. We live in The Villages in the center of the state. 1 hour to each coast. Best thing we ever did. Golf, pickleball, music in the squares every night. Lots of new friends. Came home to St. Louis for Christmas, gray skies every day and cold. 🌴🛺🌞🌞🌞
The grass isn’t always greener. Even the bottom end- manufactured home communities are in deep deep trouble . Skyrocketing land leases , weather events and uninsurability.
The climate in Florida is nice from mid-November to mid- May. After living in Germany two years, when I returned to Florida, it took weeks before my body could adjust to the climate change.
Yep. I considered Florida for a hot minute. Decided to stay in Colorado. Insurance is an issue here but not as bad. 300 days of sun and no cockroaches.
I am a Florida native retired now. My family has been in Florida for over a hundred years. My home is paid off. But I pay about 4K for insurance per year for a modest house. About the same for car insurance. In Florida that is also outrageous.I just spent about 30K in home repairs over the last two years. The homes in Orlando are about half a million just for a working class house. The area is full of homeless people because an apartment cost about 2K while the average salary is about 36K per year, My children and grand children are close by. If not for that I sell and relocate to another state. I make in retirement a low 6 figure income before investment income. Unless you are packing a lot of money and or have family in the area not so desirable to retire to any more. My wife's Georgia is a better choice, lower cost of living and weather is close to Florida's weather.
Jamie is a pro mentor on trade
He's mostly on Telegrams, using the user name.
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Good video. My parents where working class and fulfilled a dream of a small retirement condo in Florida. Unlike your parents my mine loved being in a 55 plus community. Fast forward, two years ago with my father no longer with us and my mother no longer wanting to down offered it to me. I declined. Between with the insurance issues, weather, etc. I declined. I am 64 and many of my friends are not interested in going down.
I live in Florida.....and have been here for over 10 years. We are retired 62/59.....we would never leave Florida. We have dealt with 2 hurricanes and haven't had any issues with damage or insurance coverage. I wish more people would listen to residents here and not those who don't. Florida is awesome.....👍.....don't buy into the fear!
@markmiller3145 doesn’t say where he is.
@@EnthusiasmisgoodI agree with him and I’m in the Daytona Beach area. Nearly every state has issues, me, Florida covers nearly all my needs but it isn’t perfect - no place is.
Another apocryphal story about one person’s experience. Good for you but you don’t speak for the entire state.
Too darn hot for me
It’s not “fear”. It’s simply preference and opinions. And if you’ve only lived in FL for 10 years, you have little idea about what Florida really was, is, and becoming. Additionally, where you live does not represent the entire state.
If you like heat and humidity. And love living in air conditioning, under duress.
True Florida is over
Don’t forget the sinkholes and sea level rise.
Oh no…. Please tell me when it’s going to start rising - I need to prepare since the water is about 20ft from my house.
The state government denies the sea level is rising so that is not a problem. Not sure if they deny the existence of the sink holes.
The sea level is not rising. They have been measuring sea level in Stockholm harbor for several hundred years. Practically no change. You can also go to the Philippines around limestone outcroppings in bays. The ocean has been lapping the same area for hundreds of years. Do you believe everything the MSM puppets tell you? All coastal areas were supposed to be under water according to Al Gore, decades ago.
@@RyanBerich-u1wI live on the water and it isn’t rising.
Since the biggest proponent of Global warming was Al Gore can you explain to me that if he truly believed it - why did he buy a house on the Ocean? Same question about Obama, but he bought two properties on the water.
Yes…and yet these climate people buy properties right next to the water. 🙄
One of my biggest financial mistakes was not being born in 1930 and dropping $100 into the S&P 500.
I've been in touch with a financial analyst ever since I started investing. Knowing today's culture The challenge is knowing when to purchase or sell when investing in stocks, which is pretty simple. On my portfolio, which has grown over 90% in a little over a year, my advisr chooses entry and exit orders
Sounds interesting! Please can you leave the info of your lnvestment advsor here? I’m in dire need for one
Just ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.
A lot of FL haters in comments, glad y'all found somewhere else to live.
I retired 5 years 2/1/20. Moved to Florida in 21 from ga after son grad from high school. He just grad from college this Dec and we couldn't be happier. We are going nowhere we live FL!!! And retirement!! You don't have to be rich to live in Florida. All our friends and neighbors are millionaires. We live in a 55+ community and life is good.
It's not the paradise for seniors anymore. And not affordable for most people of any age.
Been in Florida for 3 years, I regret it. I was asked to transfer to Tampa for work, it's been a nightmare. This place sucks, hurricanes, over crowded, taxes, HOA, and insurance will cost and arm and a leg. Once I retire I'm out of this state ASAP.
California is without a doubt the best state in USA !
All year mild beautiful weather.
That's if you live along the coast, which most can't afford.
We just take 3 or 4 extended cruises to fight the winter blues....new beaches everyday, luxury hotel rooms and entertainment all day long.
Good plan. Maybe a week in Puerto Rico too?
Agree! Winter cruising is the best!
And you must love the buffets! I bet you do...
@@FrankGiuliano I didn't make the statement but you can take a cruise and not eat at the buffets.
That's an idea to think about as well.
I retired to FL but 7 years later NYC/Westchester County looks awesome again.
We always think the grass is greener on the other side.
NYC rules 🗽💪🏼
As a lifelong resident of Florida I can honestly say family is the only reason I stay here. Expenses like property taxes, flood insurance and homeowners insurance are greatly outpacing inflation. I do like the warm temperatures. I seem to be a lot more sensitive to cold than I was when I was younger. After my last grandchild goes away to college I want to be a snowbird. If I can swing it financially.
They did not feel freedom, they felt unsafe being them, there was little tolerance for disagreement.