Experts share the amount of savings you really need to retire in Florida

Florida is one of the most popular Retirement The destinations in the United States, for a good reason. But to what extent do you really need to retire in the case of sunlight?

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According to experts, the amount you need depends on your lifestyle, location, longevity and other factors. This is what they said.

See too A great opportunity to save money that retirees can lose in Florida.

“We direct our students and customers when Planning for successful retirement To focus on four L’S: liquidity, lifestyle, longevity and inheritance, “Myles Mchaale, credit and trained investment credit in Financial gunWritten in an email. “Retirement in Florida can be possible and the dream is achieved – but how much you will need to depend on all these factors. In addition, we can add another L factor to the mix: the site.”

“The cost of living in Florida is more expensive than other states when you deal with property taxes, insurance costs, hurricane risk and floods. All of these affect your retirement needs,” said Alex Astin, a financial advisor with hurricanes and floods. Burns Estate Planning In Florida.

How much you spend It can significantly affect your retirement. Astin said: “How much things are spent more than the amount of money you provided for retirement.”

This also depends on whether you have any current debts and how much. “If there is no debt on books, the real cost of retirement may not be comfortably as much as one imagines.” Financial services for the black laboratoryLocated in Florida, written in an email.

According to Mchaale, the estimated annual retirement cost in Florida can last from $ 5,000 to $ 6500 per month to more than $ 25,000 in monthly spending. I recommend enough to replace 70 % to 80 % of the pre -retirement income Convenient retirement.

For a person targeting between 75,000 to $ 80,000 in annual expenditures over 20 years, Mchaale indicated that the goal of savings, which is about $ 1.6 million, could be a reasonable standard, especially in areas such as Orlando.

He added: “If you are aimed at modest retirement or areas such as Ocala, LaCaleland or villages, these areas offer lower costs after great comfort.”

Payment: 5 cities you need to take into account if you retire in 2025

Successful retirement begins with realistic plan and expectations.