Life-changing events like getting married or celebrating the birth of a child are exciting, but the emotions of reaching the milestone of retirement offer a unique feeling of accomplishment. After years of planning and saving, when the sun rises on the first day of retirement, many retirees wake up to step outside into a tropical climate to grab their morning paper. Why are so many baby boomers retiring to Florida?
Financial Benefits for Seniors
Tax benefits are one of the top reasons retirees relocate to Florida. There is no state income tax and retirement income, including Social Security, is also tax-exempt. This includes pensions, IRAs, and 401(k)s. Every penny counts in retirement and allowing more financial comfort with these tax benefits can be very appealing to you.
The cost of living falls right around the national average, so you won’t break the bank once you relocate to the Sunshine State. In a report by BestPlaces, healthcare is less than the national average by a slight margin, which is excellent for seniors of retirement age.
Excellent Senior and Assisted Living Facilities
Because of the high population of seniors, the need for high-quality, affordable and reliable assisted living facilities are always in demand. Some innovative companies based in Florida are re-imagining the way you think of retirement homes, with Colonial Assisted Living leading the charge. Founder Ricki Kaneti wanted to shed the traditional “nursing home” stigmas and designed her facilities to create an appealing environment, visually and emotionally.
“The interiors are inviting, playful, and make our residents and their families want to stay rather than wanting to leave. This is reflected in our own team members and community’s staff, too, who get to come to work at an amazingly created workplace,” says Kaneti.
Top-Notch Health Care
Because 20% of the population in Florida is 65 and older, the health care industry has had an influx of top medical care professionals. Hospital quality keeps getting better year after year, with the Mayo Clinic Jacksonville and UF Health Shands Hospital continuing to consistently rank nationally in specialty care. High-quality primary care facilities are conveniently located throughout the state, making it easier to pick the best area to retire in Florida.
Social Life and Visitors
Because many baby boomers are retiring to the same state, they can surround themselves with peers of the same age who share the same interests. This is a great way for seniors to make new friends later in life that they wouldn’t have otherwise met.
Families love to visit their retired parents and grandparents, with the added perks of an inviting, tropical climate and tourist attractions that Florida has to offer. Theme parks like Walt Disney World, world-famous zoos, water parks, exotic dining, and professional sporting events offer enticing experiences for retirees and their visitors.
Fun in the Sun
Of course, having fun in the sun, walking along the white sand beaches, and wading into the ocean is the first daydream when imagining a retirement in Florida. Baby Boomers, especially those who lived most of their lives in northern states with harsh winters, look forward to enjoying great weather year-round.
Retirement is an exciting time in life and allows more time for seniors to spend with family or to accomplish something they’ve always wanted to achieve. If you’re approaching retirement age, now you know why baby boomers keep moving to Florida, and you can plan accordingly. If you have recently retired to Florida or are planning to, don’t forget to leave a comment.