When caught in the vicious circle of the 9 to 5, people often sacrifice their temptations to amass wealth so that they can enjoy a blissful retired life. And once they’ve escaped from the clutches of their hectic work schedules, they either go on world tours or settle in some peaceful place to enjoy the little things.
But not everyone falls from the same tree. Some, unlike the regular mundane retirees, dream of spending the best years of their lives in a sunny haven. If you’re among such souls, Miami is the place for you!
Over the past years, Miami has been a popular retirement destination among people. Its fine beaches and colorful culture have lured the 60+ crowd into making a heavy investment in the city. But the question is, how viable is the Magic City for retiring?
Let’s find out through some pros and cons of retiring in Miami rounded up below.
Starting with the Pros
#1 – Lower taxation
The best thing about staying in Florida is that your income and social security benefits don’t get taxed. Plus, the fact that there’s no estate tax or inheritance tax makes it a win-win deal. For any retiree, that’s a golden offer.
#2 – Great weather
Florida, undoubtedly, has wonderful warm weather. Agreed, every season has its charm, but when you’ve stayed in chilly places where you have to shovel snow just to move your car, you’ll probably crave summers more than others! In Florida, the temperature hits its lowest in January; it falls to around 60°F, and the highest rises to about 76°F.