Florida, once the top retirement destination due to its desirable weather and lifestyle, is now amongst the most expensive states, especially in areas like South Florida. As retirees hunt for affordable alternatives, states like Georgia, South Carolina, Louisiana, and Mississippi offer similar warm climates but at a lower cost of living. Notably, Louisiana's financial benefits include a pension income exclusion and no inheritance taxes, making it appealing for those seeking an affordable retirement without sacrificing quality of life. Retirees are advised to explore these options to maximize their savings and lifestyle choices.
As a result, Florida is now one of the most expensive states in the South, which is doubly true if you look anywhere in South Florida like Miami or Broward County, or on the west coast toward Naples.
With a lower living cost than Florida, Louisiana is known for its lengthy summers and short winters, making it an attractive option for retirees seeking affordable weather.
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