Retirement Social Security

7 Things People in Florida Need To Know about Social Security

Here is what Sunshine State retirees need to know to make the most of their Social Security benefits.

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Updated Jan. 22, 2025
Fact checked

Social Security is likely to play a crucial role in your retirement plan. With so many retirees depending on these benefits, understanding how Social Security works in Florida is important if you live in the state.

Whether you are already receiving benefits or planning for retirement, these are some things Floridians need to know about Social Security.

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Millions of people receive Social Security in Florida

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Florida is home to a significant number of Social Security recipients.

Almost 5 million Floridians receive Social Security benefits, making it one of the largest groups of beneficiaries in the country, according to the Social Security Administration (SSA).

This large population highlights the importance of understanding how Social Security fits into your retirement plan in Florida, especially as the state continues to attract new retirees from across the nation.

Benefits are not taxed at the state level in Florida

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Unlike some states that impose state income taxes on Social Security, Florida residents can enjoy their full benefits without worrying about additional state taxes.

This tax-friendly environment helps you stretch your Social Security benefits further, which is one reason Florida is such a popular destination for retirees.

Other retirement benefits also are not taxed

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In addition to Social Security benefits, retirement income from pensions, IRAs, 401(k)s, and other retirement plans is not subject to state income tax in Florida.

This can significantly impact your retirement planning, as it allows you to keep more of your hard-earned money.

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You might still pay federal taxes on Social Security and other retirement benefits

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While Florida doesn't tax Social Security benefits, you may still owe federal taxes on this income. It all depends on your total income.

If you have enough additional income from sources such as investments, pensions, or work, a portion of your Social Security benefits might be subject to federal taxes. In fact, up to 85% is taxable under the right circumstances.

It's important to understand where you stand financially and to plan accordingly, as federal taxes can still take a big bite out of Social Security benefits and other retirement income.

You can use the SSA website to find an office in Florida

clsdesign/Adobe Social Security Administration building in Charlotte

The SSA website is a valuable resource for Floridians. Use the site to easily find local SSA offices in Florida. Staffers at these offices can assist you with everything from applying for benefits to addressing any questions or concerns you have about Social Security.

With offices located throughout the state, it's convenient to get help when you need it, ensuring that you stay on top of your benefits as part of your retirement plan.

Leaning too heavily on Social Security can be a mistake in Florida

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While Social Security is a vital source of income, relying on it too heavily can be risky anywhere, including in Florida. 

As of August 2024, the average monthly Social Security check was 1,783.55, which may not be enough to cover living costs in many parts of the state.

Explore other ways to boost your income, such as part-time work, investing, or using retirement accounts.

Floridians who delay filing will get a bigger monthly benefit

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If you can afford to delay taking Social Security benefits, it can result in a significantly higher monthly payment once you finally apply.

At your full retirement age of 67, you will be eligible for 100% of your monthly benefit for life. For every year you delay taking benefits past age 67 and up to the age of 70, your benefit increases by about 8% per year.

This can make a considerable difference in your retirement income, helping you to get ahead financially as you age. 

Consider how delaying benefits might fit into your overall retirement strategy, especially if you have other sources of income to rely on in the meantime.

Bottom line

Fotoluminate LLC/Adobe retired man sitting on bench at beach

Understanding how Social Security works in Florida is crucial to maximizing benefits and securing your financial future.

While the state offers tax advantages that can help you get ahead financially, it's important to avoid making mistakes such as relying too heavily on Social Security alone.

Make sure to check up on your financial health regularly and consider ways to supplement your Social Security income to eliminate some money stress in retirement.

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