Retiring To Florida? Here Are The 20 Best Cities Where Your Money Will Go Farther
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Florida is a popular destination for those people lucky enough to be close to retirement – and have enough money in savings to retire.
The weather is warm, the beaches are plentiful, and in many places, a dollar can go much farther. You just need to do your homework before packing up the house and heading down to the “Sunshine State.”
WalletHub compiled a list of the best cities to retire to in Florida in 2021.
“Florida crosses off many items on a retiree’s wish list, starting with cheap living costs, one of the biggest considerations for older Americans who’ve stopped working and rely on a smaller income. And while Florida’s health care needs work in some areas, it does boast high marks in direct primary care and pharmaceutical access. Beyond practical qualities, this Southern charmer is teeming with excitement.
Here, retirees are likely to avoid boredom and burnout — common problems among this group — with a wide variety of choices for indoor and outdoor activities, coupled with volunteer opportunities and part- or full-time jobs. Throw in the wraparound coastline and foodie-worthy cuisine, and there will be nothing left to crave. Best of all, no one pays income tax, so every dollar goes a long way.
To determine the most ideal places for older Americans to live their golden years, WalletHub compared more than 100 cities in the Sunshine State across 29 key indicators of retiree-friendliness.
The data set ranges from cost of living to health care facilities per capita to the number of attractions.”
Here are the best cities to retire in Florida someday.
Best Cities to Retire In Florida
2. Fort Myers
3. Boca Raton
8. Fort Lauderdale
9. Delray Beach
14. Winter Park
16. South Bradenton
17. Bonita Springs
18. Cape Coral
Here are more facts from the study about retiring to Florida and which are the best and worst cities in the Sunshine State.
- The Villages has the highest share of the population aged 65 and older, 81.60 percent, which is 13.4 times higher than in Horizon West, the city with the lowest at 6.10 percent.
- Daytona Beach has the lowest adjusted cost-of-living index, 86.80, which is 1.9 times lower than in Coral Gables, the city with the highest at 162.42.
- Weston has the highest share of workers aged 65 and older, 27.94 percent, which is 3.7 times higher than in The Villages, the city with the lowest at 7.64 percent.
- Sarasota has the most home-care facilities (per 100,000 residents), 130, which is 65 times more than in Ocoee, the city with the fewest at two.
- Weston has the fewest property crimes (per 1,000 residents), five, which is 15.2 times fewer than in Miami Beach, the city with the most at 76.
If you’re not quite ready for retirement, but want to boost your savings for when the time comes, check out this list of the worst money mistakes you can make that can blow up your retirement and the 5 expenses to cut right now to watch your savings skyrocket.