Cost to Retire in Florida is EXPLODING - The real numbers
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- Опубликовано: 20 сен 2024
- When you picture retirement, most people see lazy days on a beach or active days on a golf course. And Florida has been one of the top retirement destinations for decades. Florida has low taxes and warm weather. So it is easy to see why people want to retire in Florida. But, lately costs have been going up. Yes... costs have been going up everywhere, but there a couple of factors making them go up even faster in Florida. So I explain what is going on and I will show you my real expenses so you can understand what it costs to live in Florida.
I have the stones to go without wind insurance. Simply cannot afford it-not really a matter of stones, honestly. If a hurricane gets my house, I am screwed. Oh well. If I am alive, I will just go live somewhere else; I do not plan to repair/rebuild here in Florida. My approach is more about my age, as I am not interested in hanging on to life in Florida as a retiree. I have lived here on and off for over 50 years, so I have had the Florida experience. Your candor regarding the costs here in Florida should help those considering living here with an honest assessment of what they can expect, financially. Thanks for posting.
Hey! Thanks for the great comment. I know your neighbor he's pretty cool. Maybe you can move in with him. 😆
Thanks for sharing these expenses, it's quite helpful.
Thanks for watching Cindy! And thank you for letting me know it was helpful.
I canceled my homeowners insurance and another coworker friend canceled his also. It’s a trend in Florida. The last time I had a claim was after a hurricane 39 years ago, but I’ve moved since then.
Yea, I think we are going to see a lot of people doing this. A friend of mine just got his claim money from Hurricane Michael and now he is going to cancel his insurance. It took years to get the money. He had to cash out 401Ks and things to fix his house.
great video
Thanks!
Not only retiring, but just living in FL has become pretty expensive, especially South FL. If you do not want to go abroad, do you know what other states will be a good alternative? Some will have higher property taxes, some have income tax, in others the fire insurance is as expensive as wind insurance in FL etc. Maybe the only affordable option is moving to a rural area instead (if you worry about future $$)?
I just saw an article titled "the cheapest beach town to live in" it was Pascagoula Mississippi. I guess you could go there. But otherwise, yes, I think the more rural places will be cheaper. My wife always says "you have to love the space and the place". Which means you can't just love your house but also where it is.
I'm 47 I have 18yrs. In a Government job. I need to be 55 to access my retirement funds (pension) without penalty. I want to move out of my current area. I feel I should finish up here and get my retirement funds and then dip. Any thoughts?
8 year left... can you make it? Where do you want to go when your time is up? Can you live off the pension, or do you need other sources of income?
@@TheRetirementality I want to make it until retirement. But we have strong pull to move south from Va. If I sold 1 house and pay the new one off, I would be okay. If I sold now and moved. I would have to find a job to support my needs.
As someone with a government pension, I urge you to stick it out for the 8 years. Plus try to make as much money as you possibly can for those 8 years, even if it means taking on additional responsibilities. That will up your pension, which you will certainly appreciate later on. I remember feeling burned out at your age, but please try to literally work through it. Pensions are rare these days and offer a great deal of freedom down the line.
@@missyconner306 That's what I really wanting to do but the only thing I see is the clock still ticking.
@@missyconner306 This is good advice.
Like ur vids...
But .. U ok??
Thank you... I'm good... why?