It’s not just the weather that makes Florida a good place to retire. The financials tend to comfortable, too.
A new study by Interest.com gives Florida the No. 5 slot when it comes to how senior citizens’ income compares pre- and post-retirement. The study uses Census data to see how well seniors fare in hitting the recommended target of having 70 percent of the income they had earned while working. Only two states actually crossed that threshold: Hawaii and the No. 1 finisher, Nevada.
But Florida finished in the second tier, behind New Mexico and Arizona. Interest.com found the average Florida household made up of people 65 and over were earning 67 percent of their pre-retirement income, which is defined as the money made between the ages of 45 and 64. The median retirement income in Florida is about $35,000, compared to about $52,000 for the median pre-retirement income.