3 Reasons You May Not Want to Retire in Florida
Key Points
Florida has mild winters, but some people may find its summers oppressive.
Moving away from family and friends could be lonely and may increase your retirement travel expenses.
The high hurricane risk could significantly increase your home insurance premiums, especially if you live near the coast.
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If you've thought about retiring in Florida, you're in good company. It's the most popular retirement state for a reason. Thriving retirement communities, a warm climate, and tax-friendly laws are just some of the appeal.
But like any major destination, Florida isn't the right choice for everyone in retirement. If any of the three things below are deal-breakers for you, consider some other retirement destinations instead.
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1. The summers get hot
One of the reasons Florida earned the top spot in The Motley Fool's research study on the best retirement states is its warm climate. Winters are mild and snow is rare, making it a popular choice for those tired of long, cold months in the Northern states.
In summer, however, Florida can get very hot and humid. Daily highs are often in the upper 80s, according to the National Weather Service, which could make outdoor activities uncomfortable.
Some retirees get around this by spending only the winters in Florida. This could be a smart plan for you if you can afford two places. If not, you'll have to decide if the mild winters are worth the sweltering summers.
2. It could take you far from family and friends
Unless you're already living in Florida, retiring there could put you far from your family and friends. This could leave you feeling isolated and increase your travel expenses in retirement if you frequently return home to visit loved ones.
The good news is, there are plenty of Florida cities with thriving retirement communities, so you shouldn't have too much difficulty finding new friends once you've settled into your new home. Your loved ones may also prefer to come to you, especially in the winter.
3. The high hurricane risk could lead to increased costs for coastal residents
Florida homeowners can face high home insurance premiums due to the state's high hurricane risk, especially for those living on or near the coast. This could cost you thousands of dollars per year and may offset some of the savings you'd get from retiring in this otherwise tax-friendly state.
If your home is actually hit by a hurricane, you could face severe damage and maybe even temporary displacement. This isn't a risk everyone is willing to take. If the thought makes you uncomfortable, consider retiring further inland or in another state instead.
There are plenty of other great places to retire outside of Florida that offer some of its same draws, like low taxes and nice weather. Explore a few other options and consider taking a short vacation to your planned retirement destination to give it a trial run before you move.
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