I’m Retired and I Regret Moving to Florida — Here’s Why

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For thousands of retirees each year, Florida shines like a beacon of promise. The absence of state income tax and the sunny weather are appealing factors. Additionally, the abundance of retirement communities makes it a perennial favorite for those looking to stretch their savings and savor their golden years. 

But for Dave, the reality of Florida retirement turned out to be far from the dream he’d envisioned, even though he carefully planned. This is Dave’s story as highlighted by retirement expert Holy Schmidt in a YouTube video.

Drawn by the Numbers, Surprised by Reality

After decades of working in New York and looking forward to a slower pace, Dave was meticulous in planning his escape to Sarasota, Florida. He calculated his finances down to the smallest detail, from the savings on state income tax to insurance premiums, HOA fees and even the cost of travel to visit family and friends. His daughter, who had a remote job, anticipated joining him with his grandkids, cementing his sense of optimism.

Like many retirees, Dave saw Florida as not just a financial move but a family one, a chance to be closer to loved ones while keeping his cost of living affordable. But within a year of moving, Dave realized that even the best-laid plans can unravel.

Shocking Insurance Hikes and HOA Surprises

Dave’s first major shock came when his homeowner’s insurance, initially budgeted at a manageable amount, skyrocketed to $8,000 a year. The entire state was facing rising insurance rates, but Dave hadn’t anticipated an increase of this magnitude. Next came a $5,000 special assessment from his HOA to bolster hurricane protection, another hit to his budget that he hadn’t seen coming.

Instead of enjoying worry-free days, Dave found himself fretting over unexpected expenses and wrestling with a budget that no longer made sense. His carefully balanced financial plan was suddenly short by $15,000 per year, and that cushion of security he’d built evaporated almost overnight.

Family Plans Change, and Loneliness Sets In

The hardest blow wasn’t financial. Dave’s daughter, once eager to move, saw her employer abruptly end remote work, keeping her and her children rooted hundreds of miles away. Dave, who had dreamed of regular visits with his grandchildren, now faced a long, lonely distance and a quiet house that felt emptier than he could’ve imagined.

“I planned every detail, but nothing went the way I thought it would,” Dave shared, echoing the regrets of other retirees who’ve discovered that budget spreadsheets can’t predict life’s twists and turns.

The Allure and the Reality of Florida Retirement

Dave’s story is not unique. In fact,  the comment sections reveal that many retirees who move to Florida discover that their dream of an easy, sunny retirement can quickly become more challenging than expected. Over the past few years, a lot of people have faced problems like big increases in property and insurance costs, which can make living in Florida much more expensive than they first thought.

Retirees also sometimes find themselves dealing with sudden fees from their homeowners’ associations or local governments to pay for things like hurricane or flood protection. Getting good healthcare can be harder, especially if you need certain doctors. On top of that, many new residents find it difficult to rebuild friendships and social connections they left behind in their old hometowns.

Lessons for Prospective Retirees

Dave’s experience serves as a strong reminder that moving for retirement is about more than just balancing your budget. For anyone considering relocating to Florida, it’s wise to leave extra room in your monthly budget for unexpected costs, especially rising insurance and maintenance expenses. Before making a permanent move, try renting first and spending plenty of time in the area during different seasons to truly get a feel for what life will be like.

It’s also important to think about the people and support systems you might be leaving behind, like family and friends, and how often you’ll really be able to see them. As you get older, your health and mobility needs can change, so make sure you’ve considered access to healthcare and potential transportation issues. Most importantly, remember that even the most carefully made plans can go off course for reasons you can’t predict, so be prepared to adapt.

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