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Retirement in Florida

By Ryan Erisman

So, you're thinking of retiring to Florida or maybe buying a second home or vacation home here. You won't exactly be blazing a new trail. Though likely inhabited by Native Americans for thousands of years before Europeans set eyes on it, Florida was "discovered" in 1513 by Juan Ponce de Leon who claimed it for Spain. Ponce de Leon named it Florida, because he landed here during "Pascua Florida," the festival of flowers during the Easter season.

The next several hundred years were a tumultuous time in Florida with various parts of the state changing hands several times between the Spanish, French, and British. After Britain's defeat in the Revolutionary War, Spain regained control of Florida, but later ceded it to the United States. Florida became the 27th state on March 3, 1845.

Since it became a state, Florida has seen steady and sometimes explosive growth. Today more than a thousand people a day set their sights on moving to Florida. Most of them are chasing fantastic year-round weather and a slower pace of life.

The two main reasons people consistently name for moving to Florida are the great weather, and the slower pace of life. But let me tell you about another attractive feature of living in Florida.

Florida is consistently ranked among the states with the lowest tax rate. It has less than half the tax burden per capita as New Jersey, the nation's highest tax state per capita, making it a haven for retirees as well as businesses. The state sales tax is 6% and the corporate tax is 5.5%. One thing that attracts many people to Florida is that there is no state income tax. Any income that you plan to pull in from investments, pensions, or a second career during your retirement will only be taxed at the federal rate, which means more money for you in the end.

Florida is well known for it's beautiful weather, with plenty of sunshine most days of the year. Thousands of Northerners affectionately referred to as "Snow Birds" flock to the state each winter to escape the frigid winter temperatures up north.

During the winter, temperatures average around the mid-fifties in the north part of the state, and the mid-sixties down south. You won't find coat closets in most of the homes you see in Florida, but don't let that fool you. In some parts of the state it can get below freezing, and it has been known to snow.

Florida's weather is primarily subtropical, largely because it is nearly surrounded by water. In the summertime temperatures can get uncomfortably warm. Lots of folks who move to Florida from up north use the summer months to do some traveling, going back up north to see friends or traveling abroad. This is something that you may want to consider as well. There are days, especially in South Florida, where the mercury can top 100 degrees.

The average temperature in North Florida during the summertime is around 80 degrees while the average in South Florida is in the low to mid-eighties. You can also usually count on an afternoon rain shower or thunderstorm to cool you off a little bit on most summer days. Be careful during those afternoon thunderstorms, as Central Florida is known as the lightning capital of the world. Florida has a rainy season that runs from June through October. This rainy season accounts for around 70% of Florida's annual rainfall, which is between 50 and 60 inches for most parts of the state.

If this isn't enough to convince you that Florida is a great place to retire, I don't know what is.

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