The amount of money needed to retire comfortably in Florida can vary depending on individual circumstances and lifestyle choices. However, a general rule of thumb is to aim for a retirement income that is around 70-80% of your pre-retirement income.
According to a report by the Economic Policy Institute, the average retired household in Florida spends approximately $45,000 per year. This can serve as a rough benchmark for estimating your retirement expenses. Keep in mind that this figure can vary based on factors such as housing costs, healthcare expenses, and personal preferences.
To determine how much money you need to retire comfortably, it's essential to consider your specific financial situation, including savings, investments, pensions, and Social Security benefits.