Retiree warns: high cost of living in Florida

Retiree warns: high cost of living in Florida

Many German pensioners choose to live abroad for their retirement, but the decision involves some considerations. A report from a Florida retiree highlights the challenges many face. According to the German Pension Insurance, around 1.71 million German citizens who live abroad receive pensions every year. Among them are pensioners who are settling outside of Germany.

Contrary to popular belief, the majority of German retirees are not drawn to well-known retirement paradises such as the Canary Islands or Thailand. Instead, many German pensioners live abroad in countries such as Austria and Switzerland. Spain comes in third, followed by the USA. This choice also results from the advantages that life in Germany offers, such as solid health insurance coverage.

A German pensioner, Sibylle Zinser, reports on the challenges of retired life in Florida. Despite the tempting weather and possibly lower cost of living compared to Germany, she warns about the high costs in Florida. In particular, health insurance and rising real estate prices make life there challenging. A waterfront home can cost over eight million dollars, while prices under a million are rare. In addition, rising insurance costs due to climate change are leading to financial burdens.

Despite these hurdles, Zinser decides to stay in Florida because she feels comfortable there and sees no reason to go back to Germany. This personal choice reflects the individual considerations and priorities that retirees abroad have to make. There are also countries such as Costa Rica, Portugal and Mexico that are considered attractive retiree paradises with low costs of living and a good healthcare system. Portugal even offers special tax advantages for German pensioners who settle there.