At a 4% withdrawal rate, $1.1 million yields $44,000 annually, barely covering the portfolio gap left after Social Security.
Florida Gulf Coast homeowners insurance compounding at 7% annually turns a $6,000 premium today into over $32,000 by your late 80s.
The plan that survives requires a paid-off home in the mid-$400,000s inland, a $62,000 budget, and a disciplined 4% withdrawal rate.
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Florida's Gulf Coast remains one of America's most popular retirement destinations. Warm winters, no state income tax, and communities such as Sarasota, Venice, and Punta Gorda continue to attract retirees from across the country. The question is whether a 65-year-old with $1.1 million and Social Security income can comfortably afford the lifestyle. The answer depends heavily on one cost that many retirement plans underestimate.