Florida is one of the United States' most common retirement destinations because of its tax situation, its favorable climate and its lower cost of living compared to Northern states. Other factors that influence a retiree's decision to move to Florida include the abundance of recreational options available as well as the variety of adult communities open to new retirees.Continue Reading
Florida is one of the few states that doesn't levy a state income tax, which is important to many retirees who live on a drastically lower income than they did when they were working. The lack of an inheritance tax or an estate tax also influences the decisions of retirees.
Florida's climate is also appealing to retirees, especially to those who have lived most of their lives in states with harsh winters such as New York or Michigan. Florida's average high temperature in the summer is 81 degrees Fahrenheit, slightly hotter than the average high temperature in New York. However, Florida's average annual low temperature is 60 degrees Fahrenheit, a much more comfortable temperature to the elderly than temperatures encountered in Northern winters.
Florida has seen an increase in the building of adult communities where retirees can interact among others of their age group. These communities have many amenities and recreational opportunities, such as golf courses, biking, jogging and bicycling. Florida also has many family attractions for retirees who expect visits from their relatives; examples include Miami and Disney World.Learn more about Population & Demography