15 Reasons You Should Rethink Retiring to Florida

Relaxing on a warm beach in the heart of winter or playing a few rounds of golf with friends in your community are selling points for anyone whose retirement plans include relocating to Florida. 

Throw in the fact that the state doesn’t charge income tax, helping you to avoid wasting money once you’re on a fixed income, and moving to Florida may sound like a no-brainer.

However, there are plenty of reasons why Florida might not be your ideal retirement location. Here are 15 things to consider before you pack your bags to head off into the sunset in The Sunshine State.

Soaring housing prices, massive increases in homeowners insurance premiums, and the overall cost of living make Florida a less appealing retirement locale.

The median home value in the state is higher than the national average, and you’ll be on the hook for home insurance. Given Florida’s chaotic and damaging weather, insurance premiums will only increase.

Speaking of chaotic and damaging weather, residents can expect a lot of unpredictable and potentially severe weather depending on what part of the state they’re in.

Hurricane season runs from June through November, so you’ll spend much of the year preparing for (or enduring) storms. 

Having an easy, stress-free retirement is hard when you could lose your home and belongings at any moment. Throw in rising sea levels and the havoc that causes coastal communities, and you have a recipe for potential disaster.

If you’ve never lived in a sub-tropical climate before, you could be in for a sweltering awakening in Florida. Besides making outdoor activities much more uncomfortable in the spring/summer, the heat and humidity can exacerbate arthritis, allergies, and respiratory problems.

That’s something that can make it much more difficult if you’re hoping to spend your retirement staying active and enjoying the great outdoors.

Staying cool during the summer will involve air conditioning, and lots of it. That means your utility bills will be through the roof, which can squeeze your budget in a big way. There are few alternatives unless you want to be in abject misery in Florida’s hot summer heat.

While the state has become a haven for retirees and features some amazing healthcare facilities, the system can’t always handle the volume, particularly in big cities. This influx of people looking for the same type of care you’re likely to need in your golden years means that you could wait a long time for appointments in cities like Tampa, Orlando, or Miami.

Florida lacks a robust transit system, and even the majority of the larger cities are also deficient in this. If you’re outside of a major metro area, it will be very difficult to get around unless you own a car and maintain a valid license.

The snowbird effect is real: Florida sees a surge in seasonal arrivals every winter from those looking to flee the colder temperatures in northern states.

From October through April, you can expect far more crowded roadways and an overall strain on the state’s resources. This can mean longer wait times everywhere you go, depending on how close you live to big tourist destinations.

Unless you’re a big wildlife lover, Florida’s ecosystem can be frustrating and dangerous. From alligators wandering into neighborhoods, to the invasive species like pythons and iguanas that have been taking over the state, you can expect plenty of challenging situations with the local wildlife.

And it’s not just rural areas where you can expect to cross paths will Florida’s two and four-legged critters, all parts of the state experience this to some degree.

Given the number of tourist destinations in the state, peak crowd season can feel overwhelming. If you live anywhere near one of the big tourist hubs, you’re in store for a lot of noise, high prices, and crowds. It's not exactly the best situation if you’re looking for a peaceful retirement.

While there are some seasonal variations, Florida is a perpetually warm state, and you won’t get any crisp autumn nights or winter holidays with snow. The monotony of the climate can wear on you after enough time.

This one deserves its own section for one reason: Palmetto bugs. Think of giant flying cockroaches, and you’ll get the idea.

Besides the infamous bug, Florida is crawling with critters that can do everything from making your skin crawl to giving you a legitimate physical reaction. Swarms of mosquitoes and armies of fire ants are just two of the things that Florida residents will need to be accustomed to.

Although Florida boasts great medical facilities, healthcare costs can be steep. According to a 2023 study from Fidelity Investments, a 65-year-old couple retiring in Florida would need around $315,000 to cover healthcare expenses in retirement. 

That’s a lot of money if you’re on a fixed income and relying on your savings and retirement accounts.

While Florida does not have a state income tax, it becomes a higher-tax state when you factor in the other taxes you’ll owe each year. For example, some residents can pay up to 7% in state and local taxes. And while that’s almost half of what you’d pay in California, other states have far lower rates.

The additional taxes can add up quickly if you’re on a fixed income, so you might want to reassess your plans if the biggest thing bringing you to Florida is the tax rate.

Sadly, defrauding the elderly happens all too often in Florida. The state has some of the country's highest rates of elder fraud. According to the FBI's 2022 Elder Fraud Report, Florida seniors lost over $84 million to scams, making it a risky environment for retirees.

The lack of state income tax, coupled with other financial choices, has left Florida with little money to invest in infrastructure, garnering the state a “C” rating from the American Society of Civil Engineers.

Between aging roadways, limited public transit, and inadequate wastewater systems, Florida seems ill-prepared for future retirees.

Florida has plenty of issues you might decide are deal-breakers regarding retirement locations. Between the extreme weather, cost of living, and other environmental concerns, it might not be suited for you, especially if you want to maximize your retirement savings.

Of course, there’s always a chance that this state fits into your retirement plan, but keep in mind that things are never as good as they look from the outside, and it’s wise to consider both sides of the proverbial coin when considering where to spend your golden years.