That's well and good, but there should be more than just a wish to retire, there should be a plan that is developed while you are still working. You may find that becoming a fulltime Florida resident may have an impact on your finances in some way. Or, you may have coverage under a health plan in a state that requires you to be a resident. If that's the case, you may wish to keep your current residency status. Be sure to check with the proper authorities if there are any circumstances that are unclear regarding your change of residency.
Snowbird sightings occur throughout the state during the mild winter season.
Social Security Depending on your total income when you start collecting Social Security benefits, you may be taxed on 50 to 85 percent of your Social Security income. If you continue working after you start receiving Social Security benefits, you may also be penalized. If you are 70 or older, you won't lose any benefits if you are working and receiving benefits. Click here to visit Social Security Online for more complete information. At Age 60 - You're now eligible to receive Social Security benefits if you are a widow or widower.