By Robyn A. Friedman
City & Shore PRIME
If you’ve noticed that houses in your community are selling like crazy lately, blame it on the Northeasterners and residents of high-tax states who are flocking to Florida. And why not? In addition to our fabulous weather, beautiful beaches and year-round golf, Florida has no state income tax. And where else can you social distance in your backyard pool rather than spend the winter cooped up in a city apartment trying to avoid riding the elevator with your neighbors?
If our secret weren’t already out, it is now, because Florida was recently ranked the top state for retirement in a study by personal finance website WalletHub.
To identify the most retirement-friendly states, WalletHub looked at affordability, quality of life and healthcare, using 45 different metrics. Florida scored highest, mainly because of affordability and quality of life issues.
“Florida doesn’t have an estate or inheritance tax and is among the most tax-friendly states,” says Jill Gonzalez, an analyst at WalletHub. “In terms of quality of life, the state stands out due to its shoreline mileage, golf courses and access to adult volunteer activities.”
Gonzalez added that Florida also ranks highly for having a large number of family-medicine physicians per capita – not to mention the second-lowest death rate in the country for those 65+.
Other states in the top five for retirement are Colorado, Delaware, Virginia and, yes, North Dakota. Coming in at number 50: New Jersey, which ranked last for affordability.
To read the full WalletHub study, visit https://wallethub.com/edu/best-and-worst-states-to-retire/18592