Reported 27 days ago
Florida is a favored retirement destination, but determining how much savings you need depends on various factors such as lifestyle, location, and expenses. Experts suggest planning for monthly expenses ranging from $5,000 to over $25,000, with a recommended savings goal of around $1.6 million to replace 70% to 80% of pre-retirement income. They advise breaking retirement into tiers of living standards and planning for higher expenses to ensure comfort during retirement. Renting before buying is also recommended to gauge suitability.
Source: YAHOO