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Retire in Punta Gorda!

26 Oct 2015, by Jennifer Calenda in Area News

According to Kiplinger, Punta Gorda is the best place to retire in Florida. And Florida is the second overall state to retire in. Here’s why:

Total population: 19.1 million

Share of population 65+: 17.8%

Cost of living: 4.6% above the U.S. average

Average income for 65+ households: $45,144

Retiree tax picture: Most Friendly

Nearly 3.4 million older residents can’t be wrong. Florida is famous for its retiree-haven status and boasts a population with the greatest abundance of people age 65 and up in the country. The warm weather and beautiful beaches may not hurt the state’s appeal to people of a certain age, but the tax picture is surely the main attraction. Florida has no state income tax, estate tax or inheritance tax, and it doesn’t tax Social Security or other retirement income.

The Sunshine State may be an obvious retirement destination, but picking where to retire within Florida will prove more difficult. The state is packed with good, affordable options, including Fort Myers, Sarasota and Tampa along the Gulf and Vero Beach on the Atlantic side. And Gainesville is a great college town for retirement. But Punta Gorda tops our rankings for Cheapest Places Where You’ll Want to Retire. The share of Punta Gorda’s population age 65+ is a robust 34.5%, and the cost of living is 3.8% below average for retired people.

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