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[quote=Anonymous][quote=Anonymous]It is almost free to live in Florida. I say that as my empty Nestor brother who WFH moved there. He makes 500k a year.

In NY with 8 percent tax he saved 40k. Plus saves another 12k a year on property tax.

He has around 5 million in 401k. He is 62 and did max since 22. His wife did 15 years in 401k. That is 55 years of 401ks!

By time he does RMDs NY taxes would kill him. He has to start then at 73 which is around a 25 year life expectancy. He might be at 10 million by ten. Which is $400k RMD. 50k SS between him and wife and he already has around 5 -7 million after tax paying close to $500k a year on interest and dividends.

He will be at one million a year income at 74! That’s 80k a year.

Why old folks in Florida

[/quote]

Tell about how to live for free in Florida. Basic houses in decent Miami area all over $1.5M; 2% property tax per year. Public schools underfunded, private is $45k per child. Activities like horseback riding twice as expensive as in NYC surroundings. Need at least 2 cars plus driving nanny. Groceries at Publix same price or more than NYC. I want to live for free like you brother Nestor.[/quote]

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