Financial Advisor: Wealthy Americans Are Flocking To Florida, but They Shouldn’t Be
How did your country report this? Share your view in the comments.
Introduction:
The news topic “Financial Advisor: Wealthy Americans Are Flocking To Florida, but They Shouldn’t Be” has drawn international attention, with various media outlets providing diverse insights, historical context, political stances, and on-the-ground developments. Below is a curated overview of how different countries and media organizations have covered this topic recently.
Quick Summary:
- Many of the richest people in American have relocated to Florida, known for its lack of income taxes. However, relocating for the tax savings doesn’t always pay off for the super wealthy. Home insurance premiums have skyrocketed, and property taxes, flood zone assessments and limited public school options can make the move less tax-efficient. The move “has to make sense beyond taxes,” said Henry Silva, wealth management advisor at Apollon Wealth Management. “Without that, you’re just chasing trends, and trends can be expensive,’ he said. ‘It should align with your lifestyle and long-term vision.’ ‘You’ll have to pay more for things like home insurance and utilities.” ‘There’s no state income tax in Florida, so it’d be a mistake to move there just for that reason.‘ ‘The financial picture here is far more complex than a single tax line item.
- Florida’s population flood has ebbed, but many feel the Sunshine State has grown too expensive. Alabama features mild winters and a massive discount on housing compared to Florida. Tennessee offers some coastline and beaches of its own, if that’s part of what appealed to you about Florida. It is known for having some of the best tax policies for retirees, and that alone can make a big difference for retirees on a fixed income.. Social Security benefits aren’t taxed, and neither is pension income or retirement account withdrawals. The average home price in Tennessee is $319,167, compared to $228,669 in Florida, which has a median home price of $250,000. It has a lower unemployment rate than Florida, and a lower poverty rate than the U.S. average.
- Grant Cardone is a real estate investor, equity fund manager, author and founder of the 10X Growth Conference. Cardone recently said he thinks America’s middle class can — and should — be wealthy. Here is some of his advice on how the middleclass can build wealth. Start early and invest regularly. Don’t Diversify Excessively, and invest in something that will multiply your wealth, Cardone says. He sees the middle class shrinking: “There�’s the people that have freedom, prosperity and abundance, and then there’s everybody else,” he said in a YouTube video. He encourages people to “rise above outdated, unworkable middle-class myths and limitations,�” so they can “achieve true freedom for themselves and their families.” He says investing in real estate is not attainable for the novice investor, but putting money into mutual funds or stocks certainly is.
Country-by-Country Breakdown:
Original Coverage
Many of the richest people in American have relocated to Florida, known for its lack of income taxes. However, relocating for the tax savings doesn’t always pay off for the super wealthy. Home insurance premiums have skyrocketed, and property taxes, flood zone assessments and limited public school options can make the move less tax-efficient. The move “has to make sense beyond taxes,” said Henry Silva, wealth management advisor at Apollon Wealth Management. “Without that, you’re just chasing trends, and trends can be expensive,’ he said. ‘It should align with your lifestyle and long-term vision.’ ‘You’ll have to pay more for things like home insurance and utilities.” ‘There’s no state income tax in Florida, so it’d be a mistake to move there just for that reason.‘ ‘The financial picture here is far more complex than a single tax line item. Read full article
5 States Near Florida To Check for Retirement
Florida’s population flood has ebbed, but many feel the Sunshine State has grown too expensive. Alabama features mild winters and a massive discount on housing compared to Florida. Tennessee offers some coastline and beaches of its own, if that’s part of what appealed to you about Florida. It is known for having some of the best tax policies for retirees, and that alone can make a big difference for retirees on a fixed income.. Social Security benefits aren’t taxed, and neither is pension income or retirement account withdrawals. The average home price in Tennessee is $319,167, compared to $228,669 in Florida, which has a median home price of $250,000. It has a lower unemployment rate than Florida, and a lower poverty rate than the U.S. average. Read full article
America’s Middle Class Should Be Wealthy, According to Grant Cardone — Here’s Why
Grant Cardone is a real estate investor, equity fund manager, author and founder of the 10X Growth Conference. Cardone recently said he thinks America’s middle class can — and should — be wealthy. Here is some of his advice on how the middleclass can build wealth. Start early and invest regularly. Don’t Diversify Excessively, and invest in something that will multiply your wealth, Cardone says. He sees the middle class shrinking: “There�’s the people that have freedom, prosperity and abundance, and then there’s everybody else,” he said in a YouTube video. He encourages people to “rise above outdated, unworkable middle-class myths and limitations,�” so they can “achieve true freedom for themselves and their families.” He says investing in real estate is not attainable for the novice investor, but putting money into mutual funds or stocks certainly is. Read full article
Ex-New Yorkers reveal why they joined the 150K strong exodus fleeing NYC for Florida
New York saw a net decrease of over 100,000 residents who took almost $14 billion in income along with them. Florida has become a popular state for Americans fleeing homelessness, crime, and high costs of living in some of America’s blue cities and states. A lifelong New Yorker said he once would have considered it “blasphemous” to leave, but the potential change in his work-life balance was too good to pass up. “For the same price that we were paying [for a two-bedroom apartment] in New York, we were getting a five-bedroom, four-bathroom house with a pool and a backyard,” he said. “I’ve never worked harder in my life but I know that at 5 o’clock today I can jump in the pool for a short break with my kids and have fun,” he added. Read full article
Global Perspectives Summary:
Global media portray this story through varied cultural, economic, and political filters. While some focus on geopolitical ramifications, others highlight local impacts and human stories. Some nations frame the story around diplomatic tensions and international relations, while others examine domestic implications, public sentiment, or humanitarian concerns. This diversity of coverage reflects how national perspectives, media freedom, and journalistic priorities influence what the public learns about global events.
How did your country report this? Share your view in the comments.
Sources:
- Original Article
- 5 States Near Florida To Check for Retirement
- America’s Middle Class Should Be Wealthy, According to Grant Cardone — Here’s Why
- Ex-New Yorkers reveal why they joined the 150K strong exodus fleeing NYC for Florida
Source: https://finance.yahoo.com/news/financial-advisor-wealthy-americans-flocking-130149462.html