Daily Money - FEMA's Generous New COVID-19 Program

In Friday’s newsletter, I wrote about the sometimes unexpected costs of moving to Florida: running your A/C nearly year-round and flood insurance. A reader wrote in about his experience moving to the Sunshine State from New England. Many thanks to “JohnK’ of Bonita Springs, a retiree and 13-year Florida resident, for sharing:

“The cost of cooling our Florida house during the summer is far less than the cost of heating our house up north during winter.... In addition, the cost of electricity in Florida is less than northern states, plus we now avoid the high cost of home heating oil.
 
We live a few miles inland in an area where we don’t need flood insurance, but still close enough to hit the beaches when the mood strikes. There is no state income tax in Florida. Sales tax in our area is 6.5% and our property taxes are less than our previous home up north. We are financially ahead during retirement!

I would like to add a couple of other pluses. We were not sure about the quality of medical care but have found it to be comparable, and in some ways better, than New England. Also, since Florida is a popular destination, airfares are very affordable to visit our daughter & grandkids in Virginia, and getaways trips to friends and favorite places in New England. Last, we like to go on cruises. Being retired we can take advantage of last-minute deals without having to worry about travel time and costs to fly here. We are within a two-and-a-half hour drive of three cruise ports:  Tampa, Fort Lauderdale, and Miami. We look forward to cruising again when the virus finally subsides.”

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Elizabeth O'Brien is deputy editor at Money. She has covered retirement and health care for nearly a decade. A Brooklyn resident and mom of two boys, she navigates the alphabet soup of Medicare and the New York City subway system with equal ease. You can email her at elizabeth.obrien@money.com and follow her on Twitter at @elizobrien.