Are you ready to start planning for retirement? It’s never too early to start planning and making arrangements for the future. Where do you want to settle? Many people find that they want to retire in Florida. The great weather and beautiful beaches are a few of the top reasons why people choose the Sunshine state as their preferred location for retirement. Wondering where to invest? Miami is a top choice that has so many attractive perks to offer residents. In addition to the excellent weather, there are amazing restaurants, tons of outdoor activities and affordable beachfront real estate. Keep reading below to learn more reasons why to retire in Miami.
To start with, many people decide to retire in Miami because of the amazing climate. For people that are ready to leave snowy and cold weather behind, Miami is perfect. The winters are pleasant and mostly sunny.
Summer months can bring rainstorms and additional humidity. In general, the average temperature typically ranges between 62°F to 90°F. Likewise, you can leave your heavy winter jackets behind as the temperatures rarely fall below 50°F. As a result, residents can enjoy an active lifestyle all year round.
Popular outdoor activities in the area include snorkeling, paddle boarding, scuba diving, biking, and fishing. It’s easy to find something fun to do outside all year long.
Tax Breaks for Seniors
Next, there are special tax breaks for seniors in Florida that people living in other states do not receive. In fact, Florida is recognized as one of the 10 most tax-friendly states for retirees and they have no state income tax. As a result, that means that people do not have to pay state taxes on Social Security benefits, pensions, IRAs, 401(k)s and other retirement income. Plus, Florida does not have an inheritance tax or estate tax either. In addition, if you are 65 years old or older and have lived in a Florida home for at least 25 years, you might be entitled to a 100% exemption. However, this exemption is only for homeowners whose home value is less than $250,000.
Miami International Airport
Another great reason to set up your home base in Miami is because it is easy to fly in and out of the area for traveling. The Miami International Airport is also known as MIA and is the primary airport serving the Miami area. From there, more than 1,000 flights are operated daily to more than 167 domestic and international destinations. That way, local residents can easily travel and enjoy adventures during retirement both within the United States or abroad. It’s a great place to find inexpensive airfare since the airport has so many flights available. For example, you can fly from MIA to Puerto Rico for around $250 roundtrip. You can even travel to Mexico or South America for just $350 roundtrip. Those travel costs are easy to manage even on a fixed income budget!
As you can see, there are tons of great reasons to retire in Miami. Are you ready to look for a retirement home in paradise? If you are, contact Miami Life Real Estate. They have insider knowledge on where to find the best homes in the area. Contact them today to get in touch with an agent who can help you find your dream retirement home in Miami.