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Along with the Florida towns of Tampa and Orlando, Miami earned a spot on the list.
The averagecost for expendituresfor those 65 and older comes in at $1,914 per month.
These alone are just a few of the perks of retiring here.
No State Income Tax
First and foremost, Miami offers unique financial security for retirees.
Florida is one of several states that does not collect a state income tax.
A homestead exemption can decrease your homes value, so you pay less in property taxes.
On average, Miami residents pay $128.11 for electricity, water and gas.
Free Transportation
Miami Dade Countyhas an excellent transportation system with free transportation for its residents.
But for those 65 and older, you’re able to rideall public transportationfor free!
With free transportation, it makes it easier to attend any medical appointments as well as run errands.
In addition to beaches and other outdoor activities, various events are planned for seniors.
This program provides fitness classes, games, field trips and other recreational activities at no additional cost.
Free classes include bingo, yoga, Zumba, sewing and ceramics, just to name a few.
Lunch is accessible daily for free, which can help you cut back on your food costs.
The Miami-Dade Public Library System also offers its Museum Pass Program.
This program allows free access to over a dozen museums, the Zoom, and popular outdoor attractions.
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