Retiring in Florida is a dream for millions of Americans, and for good reason. There is no state income tax, the weather lets you live outside most of the year, and almost every corner of the state has communities built around the way retirees actually want to live. More than 4.5 million Floridians are 65 or older, and every year thousands more move here to join them.
But Florida retirement is not as simple as packing the car and heading south. Homeowners insurance can cost more than the mortgage. Medicare choices change by county. A home bought in the wrong flood zone, or a homestead exemption filed a few weeks late, can cost thousands of dollars a year. And the plan that worked in Ohio, New York or New Jersey often needs real adjustments once Florida becomes home.
This guide brings everything together in one place. You will learn what it really costs to retire in Florida, how Florida taxes retirees, how healthcare and Medicare work here, where retirees are choosing to live, how to become a legal Florida resident, and how to build a retirement income plan that fits Florida’s rules. At the end, you can download our free 2026 Florida Retirement Checklist: 40 steps, in the right order, for the 12 months before you retire or move.
Quick answer: Retiring in Florida can stretch your retirement savings further, mainly because Florida has no state income tax on Social Security, pensions or IRA and 401(k) withdrawals. The trade-off is higher housing-related costs, especially homeowners insurance, flood insurance and HOA or condo fees. Most retirees who are happy here planned for both sides before they moved.
Why So Many Retirees Choose Florida
Florida has been America’s retirement destination for decades. The reasons go well beyond the beaches.
No state income tax
Florida is one of a handful of states with no personal income tax. That means Florida does not tax your Social Security benefits, your pension, your IRA or 401(k) withdrawals, your annuity income or your investment income. For a retired couple with $100,000 of taxable retirement income, moving from a state with a 5% income tax could mean keeping roughly $5,000 more a year. Over a 25-year retirement, that difference can add up to well over $100,000.
Florida also has no state estate tax and no inheritance tax, which can matter a great deal for families who want to leave money to children or grandchildren. You can compare Florida with other states in our guide to the most tax-friendly states to retire in 2026.
The homestead exemption and Save Our Homes cap
If you own your home and make it your permanent residence, Florida’s homestead exemption can reduce its taxable value by up to $50,000. Even more valuable over time is the Save Our Homes cap, which limits how much the assessed value of your homestead can rise each year: no more than 3% or the rate of inflation, whichever is lower. In a market where home values have climbed quickly, that cap can keep a long-time homeowner’s property tax bill far below a new buyer’s on the same street.
Climate and an outdoor lifestyle
For many retirees, the biggest benefit has nothing to do with money. Mild winters make it easier to walk, golf, swim, fish and stay active all year. Staying active is one of the best things you can do for your health in retirement, and Florida makes it easy to build that habit.
Healthcare access built for retirees
Because so many retirees live here, Florida has a deep network of doctors, specialists and hospitals that work with Medicare every day. Large health systems in Orlando, Tampa, Jacksonville, Gainesville and South Florida include nationally recognized heart, cancer and orthopedic programs.
Community and purpose
From 55+ communities to church groups, volunteer programs and clubs of every kind, it is easy to find your people in Florida. That matters more than most people expect. As we explain in our article on the psychological effects of retirement, purpose and community are just as important to a good retirement as money.
The Downsides Nobody Mentions
Every Florida retirement plan should be honest about the trade-offs. Here are the issues that surprise new retirees most often.
Homeowners insurance
Florida has some of the highest homeowners insurance costs in the country. Premiums depend heavily on the age of the roof, how close the home is to the coast, its construction and its wind protection. Many homeowners pay several thousand dollars a year, and coastal homes can cost much more. Several insurers have left the state in recent years, and many homeowners end up with Citizens Property Insurance, the state-backed insurer of last resort.
The lesson: get insurance quotes before you make an offer on a home, not after. A four-year-old roof and a wind mitigation inspection can save you far more than a slightly lower purchase price.
Flood risk
Standard homeowners policies do not cover flood damage. Even homes outside high-risk flood zones can flood during a tropical storm, and flood insurance through the National Flood Insurance Program usually has a 30-day waiting period before coverage starts. Check the FEMA flood map for any address you are considering.
Hurricanes
Hurricane season runs from June 1 to November 30. Most years are uneventful for most of the state, but every Florida retiree should know their evacuation zone, keep a supply kit, and plan for shutters, impact windows or a generator. Your insurance will also likely have a separate hurricane deductible, often a percentage of your home’s insured value.
Condo and HOA costs
After the 2021 Surfside condominium collapse, Florida passed laws that require milestone structural inspections and structural reserve studies for many condo buildings. These rules are making buildings safer, but they have also led to large fee increases and special assessments in some older buildings. If you are considering a condo, ask for the inspection reports, the reserve study and any planned assessments before you buy.
Homeowners association fees in planned and 55+ communities vary widely. Read the documents carefully and ask how much fees have gone up over the past several years.
Heat and summer electric bills
Florida summers are long, hot and humid. Air conditioning is not optional, and summer electric bills can easily run two to three times your winter bill. Visit in July or August before you commit to an area.
Rising cost of living
Florida is no longer the bargain it was 20 years ago. Home prices, rents and insurance have all risen faster than in many other states. Florida can still be very affordable, but it depends on where you live and how you budget, which is where we turn next.
How Much Money Do You Need to Retire in Florida?
There is no single number, because your Florida retirement cost depends on your housing, your health, your lifestyle and the city you choose. A better question is: how much will you spend each month, and how much of that will your guaranteed income cover?
Three sample Florida budgets
Here is what a realistic monthly budget might look like for a retired couple at three different lifestyles. These are hypothetical examples for illustration only. Your actual costs will vary.
| Monthly cost | Modest ($3,000) | Comfortable ($5,000) | Upscale ($8,000) |
|---|---|---|---|
| Housing (paid-off home or rent, property tax) | $900 | $1,500 | $2,600 |
| Homeowners, flood and auto insurance | $400 | $600 | $900 |
| HOA or condo fees | $100 | $250 | $450 |
| Utilities and internet | $280 | $350 | $450 |
| Medicare premiums and out-of-pocket costs | $550 | $800 | $1,100 |
| Food and dining | $450 | $700 | $1,000 |
| Transportation | $200 | $350 | $500 |
| Travel, hobbies and gifts | $120 | $450 | $1,000 |
| Total | $3,000 | $5,000 | $8,000 |
Notice how much of each budget goes to housing, insurance and healthcare. In Florida, those three categories usually decide whether a budget works.
For a closer look at specific cities, see our guide to the most affordable places to retire in Florida on $3,000 a month, along with our Florida retirement cost breakdown and our comparison of retiring on $3,000 vs. $5,000 a month.
Costs new Florida retirees forget
Even careful planners tend to miss a few Florida-specific costs in their first budget:
- A higher property tax bill after you buy. The seller’s bill reflects years of Save Our Homes caps. Yours will be based on the new purchase price until your own homestead exemption and cap begin.
- Hurricane deductibles. Many policies have a separate hurricane deductible of 2% to 10% of the home’s insured value. On a $400,000 home, a 2% deductible is $8,000 out of pocket before coverage starts.
- Roof replacement. Insurers pay close attention to roof age. A roof that is 15 to 20 years old may need to be replaced to keep coverage at a reasonable price.
- Pest control, lawn and pool care. Florida’s climate keeps bugs, grass and pools busy all year.
- Storm preparation. Shutters, impact windows, a generator and supplies are often one-time costs, but they add up.
- Travel to see family. Many new Florida retirees fly home to see children and grandchildren several times a year, or pay to host them.
Build these into your plan from the start, and your budget will hold up much better in your first few years.
From budget to savings: find your income gap
Once you know your monthly budget, subtract your guaranteed income: Social Security, pensions and any annuity income. What is left is your income gap, the amount your savings need to cover each month.
Here is a hypothetical example. A couple wants to spend $5,000 a month. Their combined Social Security is $3,600 a month. Their income gap is $1,400 a month, or $16,800 a year.
A common rule of thumb says a portfolio may be able to support withdrawals of about 4% a year, adjusted for inflation, over a 30-year retirement. That means savings of roughly 25 times the yearly gap. In this example, that is about $420,000. If that same couple wanted $8,000 a month, the gap would be $4,400 a month, and the rule of thumb would point to roughly $1.3 million.
Rules of thumb are a starting point, not a plan. Market returns, inflation, taxes, healthcare costs and how long you live can all change the answer. Our article on how much income $1 million can generate in retirement walks through the math in more detail, and our guide to why retirees run out of money explains the risks that can derail a plan.
Florida Taxes for Retirees
Florida’s tax picture is one of the strongest reasons to retire here, but “no income tax” does not mean “no taxes.”
What Florida does not tax
- Social Security benefits
- Pension income, including military and government pensions
- IRA, 401(k), 403(b) and 457 withdrawals
- Annuity income
- Interest, dividends and capital gains
- Estates and inheritances
What you will still pay
Federal income tax. Florida cannot change your federal tax bill. Withdrawals from traditional IRAs and 401(k)s are still taxable at the federal level, and up to 85% of your Social Security can be taxable depending on your income. For most Florida retirees, federal taxes are where the real planning happens. Our free Retirement Tax Calculator shows a hypothetical estimate of the lifetime taxes on your IRA or 401(k).
Property tax. Florida property taxes are set by county and local governments. The homestead exemption and Save Our Homes cap help a great deal, and many counties and cities offer an additional exemption for qualifying low-income seniors age 65 and older. If you move from one Florida homestead to another, portability may let you carry part of your Save Our Homes savings to your new home.
Sales tax. Florida’s state sales tax is 6%, and most counties add a local surtax, so total rates usually run between about 6% and 8%. Groceries and prescription drugs are generally exempt.
The window before RMDs and Social Security
Florida’s lack of a state income tax creates a planning opportunity. If you retire before you claim Social Security and before required minimum distributions begin, you may have several years of unusually low taxable income. Those years can be a window to convert part of a traditional IRA to a Roth IRA at a lower federal rate, with no state tax on top.
Roth conversions are taxable in the year of conversion and may not be appropriate for everyone. They can also affect your Medicare premiums two years later through IRMAA. Our complete guide to Roth conversions for Florida retirees and our article on the IRMAA Medicare surcharge explain how to weigh both.
Neither the firm nor its agents or representatives may give tax or legal advice. Work with your tax professional on any tax decision.
Five Florida Retirement Myths
Florida’s reputation as a retirement paradise has created a few myths that can lead to expensive mistakes.
Myth 1: “No income tax means I will pay almost no tax.”
Florida does not tax your income, but the federal government still does. Traditional IRA and 401(k) withdrawals, required minimum distributions and up to 85% of your Social Security can all be taxable at the federal level. Many Florida retirees still pay a meaningful federal tax bill, which is why the order of your withdrawals and the timing of Roth conversions still matter.
Myth 2: “Florida is always cheaper than where I live now.”
It depends on where you are coming from and where you land. A retiree moving from New Jersey to a paid-off home in Ocala will likely lower their costs. A retiree moving from a low-tax Midwest state to a waterfront condo in Naples may spend more than before, especially once insurance and fees are included.
Myth 3: “Once I buy a home here, I am automatically a resident.”
Owning a home in Florida does not by itself make you a Florida resident for tax purposes. Your old state may still consider you a resident if your driver license, voter registration, doctors and family life remain there. Residency is shown through many steps taken together.
Myth 4: “Medicare covers everything I will need.”
Original Medicare has deductibles and 20% coinsurance with no out-of-pocket maximum, and it does not cover most long-term care, dental, vision or hearing. A plan for supplemental coverage and long-term care is a key part of any Florida retirement.
Myth 5: “I can figure out insurance after I close on the house.”
By then, it may be too late to back out. In Florida, the cost and availability of homeowners and flood insurance can make or break the budget for a specific home. Get quotes early, and make them part of your decision.
Healthcare and Medicare in Florida
Healthcare is usually the largest and least predictable cost in a Florida retirement. A little planning goes a long way.
If you retire before 65
Medicare starts at 65, so early retirees need a bridge. Common options include COBRA from your former employer (usually up to 18 months), an Affordable Care Act Marketplace plan through healthcare.gov, or coverage through a working spouse. Marketplace premium subsidies depend on your income, which means how you draw from your accounts in those years can directly affect your health insurance costs. Our guide to retiring before 65 and bridging to Medicare covers the options in detail.
Signing up for Medicare on time
Your Medicare Initial Enrollment Period lasts seven months: the three months before the month you turn 65, your birthday month, and the three months after. If you miss it and do not have qualifying employer coverage, you could pay late enrollment penalties for as long as you have Medicare. In 2026, the standard Part B premium is $202.90 a month, and higher earners pay more through IRMAA.
Medigap or Medicare Advantage?
Florida has one of the most competitive Medicare markets in the country, with many Medicare Advantage plans and Medicare Supplement (Medigap) options in most counties. The right choice depends on your health, your budget, your doctors and how much you travel.
One rule matters more than most people realize: your Medigap open enrollment period lasts six months, starting the month your Part B coverage begins. During that window, insurers cannot turn you down or charge you more because of your health. After it ends, they generally can. That is why the first decision deserves careful thought. Compare the options in our guide to Medicare Supplement vs. Medicare Advantage in Florida and our Medicare page.
If you already have Medicare and move to Florida, a move out of your current plan’s service area usually gives you a Special Enrollment Period to choose a new Medicare Advantage or Part D plan.
Long-term care
Long-term care is one of the biggest financial risks in retirement, and Medicare does not pay for most of it. Florida’s large retiree population means care is widely available, but it is not cheap. A plan might use savings, a traditional long-term care policy, a hybrid life insurance policy with a long-term care benefit, or a combination. Learn more in our guide to long-term care planning in Central Florida and on our healthcare planning page.
Housing: Buy, Rent or Join a 55+ Community?
Where and how you live will shape your Florida budget more than any other decision.
Renting first
Many new Florida retirees rent for 6 to 12 months before buying. Renting lets you experience an area through a full summer and a hurricane season, learn traffic patterns and test the drive to doctors, airports and family. If the area is not right, you can move without the cost of selling a home.
Buying a home
If you buy, think beyond the price. Ask about:
- The age and type of the roof, which affects your insurance more than almost anything else
- A wind mitigation inspection, which may qualify you for insurance discounts
- The flood zone and the cost of flood insurance
- The property tax bill after the sale, which will be based on the new purchase price, not the seller’s capped value
- HOA rules, fees and reserves
55+ and active adult communities
Florida has some of the largest active adult communities in the country, including The Villages in Central Florida. These communities offer built-in social lives, amenities and activities. They also come with HOA fees, rules and, in some cases, special district bonds or fees. Read every document, and talk to residents who have lived there for several years.
Condos
Condos can be a low-maintenance option, especially for snowbirds who leave for the summer. Because of Florida’s newer condo safety laws, it is important to review the building’s milestone inspection, reserve study and budget before you buy. Older buildings with low reserves may face significant special assessments.
Where to Retire in Florida: A Region-by-Region Look
Florida is a big, diverse state. Here is a quick look at the main regions retirees consider.
Central Florida
Orlando, Kissimmee, Lakeland, Ocala and The Villages offer a central location, major hospitals, an international airport and generally lower insurance costs than the coasts. Lakeland and Ocala are often more affordable than Orlando, while the Orlando area offers more healthcare and travel options. Learn more about retirement planning in Kissimmee, Lakeland and Ocala.
Tampa Bay and the Gulf Coast
Tampa, St. Petersburg, Sarasota, Fort Myers and Naples offer Gulf beaches, culture and excellent healthcare. Costs rise as you move south and closer to the water, and coastal flood and insurance costs are an important part of the math. See our page on retirement planning in Tampa.
The Space Coast and Atlantic Coast
Melbourne, Palm Bay, Vero Beach and the Treasure Coast offer Atlantic beaches with costs that are often lower than South Florida. Further north, Jacksonville and St. Augustine offer a slightly cooler climate and a large retiree population.
North Florida and the Panhandle
Gainesville, Tallahassee and Pensacola offer four mild seasons, a lower cost of living in many areas, and university health systems. The Panhandle has beautiful beaches, though hurricane exposure is still a factor.
South Florida
Miami, Fort Lauderdale, Boca Raton and West Palm Beach offer world-class amenities, but they are the most expensive parts of the state for housing and insurance.
For a city-by-city comparison of costs, start with our list of the most affordable places to retire in Florida.
Full-Time Resident or Snowbird?
Not everyone who retires to Florida lives here all year. Many retirees split their time, spending the winter in Florida and the summer up north near family. Both paths can work well, but they lead to different planning decisions.
Full-time Florida residents
Living here full-time makes it simple to claim Florida domicile, the homestead exemption and the full benefit of no state income tax. You also become part of a local community year-round. The trade-off is Florida’s long, hot summer and hurricane season, which some retirees escape by traveling for a few weeks each year.
Snowbirds
Snowbirds get the best weather in both places, but they also carry two sets of costs: two homes, two sets of insurance and utilities, and often two sets of doctors. Taxes are the biggest risk. If you want Florida to be your legal home, you need to show that it is, especially if your other home is in a state with an income tax. Many high-tax states count the days you spend there and look closely at where your life is centered.
A few points for snowbirds to plan around:
- Track your days. Keep a simple calendar of where you are each day, along with travel records.
- Choose your healthcare carefully. Some Medicare Advantage plans have limited networks outside your home area. Original Medicare with a Medigap plan is often easier for people who split time between states, though it can cost more.
- Keep your important ties in Florida. Your driver license, voter registration, primary doctors, estate documents and safe deposit box all help show Florida is home.
- Watch your rental income. If you rent out one of your homes, that income may be taxable in the state where the property is located.
Whichever path you choose, decide early, because it affects your housing, healthcare, taxes and estate planning.
How to Become a Florida Resident
To get the full benefit of Florida’s tax advantages, you need to make Florida your legal home, called your domicile. This is especially important if you are leaving a high-tax state that may question whether you really moved.
Key steps include:
- Get a Florida driver license. New residents must switch within 30 days of establishing residency.
- Register your vehicles in Florida.
- Register to vote in your Florida county.
- File a Declaration of Domicile with your county clerk. It is a sworn statement that Florida is your permanent home.
- Apply for the homestead exemption by March 1 if you own and live in your home as of January 1.
- Move the center of your life. Update your address with Social Security, the IRS, your banks and your retirement plans, and move your doctors, memberships and important documents to Florida.
If you will split time between Florida and another state, the details matter even more. Our guide to establishing Florida domicile explains what high-tax states look for when they review former residents.
Florida Estate Planning Basics
Moving to Florida is the right time to review your estate plan. Documents written in another state are often still valid, but Florida has its own forms and rules, and some out-of-state documents can cause delays.
- Florida homestead rules. Florida’s constitution protects the family home. If you are married or have a minor child, there may be limits on who can inherit your homestead, even if your will says otherwise.
- Powers of attorney and health care documents. Florida has specific requirements for durable powers of attorney, health care surrogate designations and living wills.
- Trusts. A revocable living trust can help your family avoid Florida probate and manage assets if you become unable to.
- Beneficiary designations. Your IRA, 401(k), annuity and life insurance beneficiaries override your will. Review them after any move or life change.
Our complete guide to Florida estate and legacy planning goes deeper, and we recommend working with a Florida estate planning attorney.
Building Your Florida Retirement Income Plan
Moving to Florida changes your tax picture, your housing costs and your healthcare options. Your retirement income plan should change with them. This is where Florida retirement planning brings everything together.
Decide when to claim Social Security
You can claim Social Security as early as 62 or as late as 70. For people born in 1960 or later, full retirement age is 67, and each year you wait past full retirement age increases your benefit by 8% until 70. For married couples, the higher earner’s claiming age also determines the survivor benefit, which can matter for decades. See our guide to what age to collect Social Security and the 10 Social Security mistakes Florida retirees make.
Choose a withdrawal order
The order in which you draw from taxable, tax-deferred and Roth accounts can change how much you pay in taxes over your lifetime. In Florida, with no state income tax, the focus is on managing your federal tax bracket, the taxation of your Social Security and your Medicare premiums.
Plan for required minimum distributions
Required minimum distributions begin at 73 for most people born between 1951 and 1959, and at 75 for people born in 1960 or later. Large RMDs can push you into a higher bracket and raise your Medicare premiums. Planning for them early, sometimes with Roth conversions, can soften the impact. Read our RMD guide and our article on the silent tax bomb inside most 401(k)s.
Build in protection
A good income plan prepares for a market downturn early in retirement, inflation, a long life and a health event. Some retirees use a cash reserve, a bond ladder or an annuity to cover part of their essential expenses with predictable income. Our guides to turning savings into monthly income and what happens to your 401(k) if the market crashes before you retire explain the options.
Your 12-Month Florida Retirement Checklist
The hardest part of retiring in Florida is not any single decision. It is doing everything in the right order, because many steps have deadlines that build on each other. Your Medicare window depends on your birthday. Your homestead exemption depends on owning the home by January 1 and applying by March 1. Your insurance quote can decide whether a home fits your budget at all.
Here is the 12-month plan at a glance:
12 to 10 months before: get clear on your numbers
- Set your target retirement and move dates
- Download your Social Security statement at ssa.gov/myaccount
- List every account and its beneficiaries
- Build a Florida budget with real insurance and HOA quotes
- Find your income gap
- Shortlist two or three Florida areas and visit, including in summer
9 to 7 months before: build your income and tax plan
- Decide when to claim Social Security
- Compare pension options and note election deadlines
- Choose a withdrawal order
- Look at Roth conversions in lower-income years
- Know your RMD age and the IRMAA two-year lookback
6 to 4 months before: line up healthcare and insurance
- Mark your Medicare enrollment window, or price bridge coverage if you retire before 65
- Compare Medigap and Medicare Advantage in your new county
- Get homeowners and flood quotes before you make an offer
- Review long-term care and life insurance
3 to 1 months before: housing and the move
- Decide whether to buy or rent first
- Review condo inspections, reserve studies and HOA documents
- Plan for hurricane season
- Set up utilities, mail forwarding and new doctors
First 90 days: become a Florida resident
- Get your Florida driver license within 30 days
- Register your vehicles and register to vote
- File a Declaration of Domicile
- Apply for the homestead exemption by March 1
- Update your estate documents for Florida
The full checklist includes all 40 steps with plain-English explanations, a Florida budget worksheet you can fill in, and free tools to check your plan. Enter your information below and we will send it to you right away.
Frequently Asked Questions About Retiring in Florida
Is Florida a good place to retire?
For many people, yes. Florida has no state income tax, a homestead exemption that can lower property taxes, a warm climate, strong healthcare networks and a large retiree community. The main trade-offs are higher homeowners and flood insurance, hurricane risk and hot summers. Whether Florida is right for you depends on your budget, your health and where you choose to live.
How much money do you need to retire comfortably in Florida?
Many retired couples spend between $3,000 and $8,000 a month in Florida, depending on housing, insurance and lifestyle. To estimate your savings target, subtract your guaranteed income, such as Social Security and pensions, from your monthly budget, then multiply the yearly gap by about 25 as a rough rule of thumb. Your actual needs will depend on your situation.
Does Florida tax Social Security or retirement income?
No. Florida has no state income tax, so it does not tax Social Security, pensions, IRA or 401(k) withdrawals, annuity income or investment income. Federal income tax still applies.
Can I retire in Florida on Social Security alone?
It is possible in some lower-cost areas, especially if your home is paid off, but it is difficult. Social Security alone often does not cover housing, insurance and healthcare costs in most Florida cities. Having savings, a pension or other income makes a Florida retirement much more comfortable.
What is the cheapest place to retire in Florida?
Inland and smaller communities in Central and North Florida are often the most affordable, because housing and insurance cost less than on the coasts. See our guide to the most affordable places to retire in Florida for a city-by-city comparison.
How do I become a Florida resident for tax purposes?
Get a Florida driver license within 30 days of moving, register your vehicles and register to vote in Florida, file a Declaration of Domicile with your county clerk, and apply for the homestead exemption if you own your home. Moving your doctors, documents and memberships to Florida also helps show that Florida is your permanent home.
When should I apply for the Florida homestead exemption?
Apply with your county property appraiser by March 1. You must own the home and make it your permanent residence as of January 1 of that tax year.
What are the biggest mistakes people make when retiring to Florida?
The most common mistakes are underestimating homeowners and flood insurance, buying before visiting in summer, missing the Medicare or Medigap enrollment window, filing the homestead exemption late, and not updating estate documents for Florida law.
The Bottom Line
Retiring in Florida can give you more of what matters: more sunshine, more time outdoors and more of your money working for you instead of going to state income taxes. The retirees who are happiest here are the ones who planned for the full picture, including insurance, healthcare, housing, residency and a tax-smart income plan, before they made the move.
You do not have to figure it out alone. Download the free 2026 Florida Retirement Checklist above, take our free 60-second Retirement Readiness Quiz, or book a free 15-minute Retirement Clarity Session and we will look at your numbers together, by video from anywhere or in person in Orlando. Prefer to talk now? Call (407) 974-7100.
This article is for educational purposes only and is not individualized investment, tax or legal advice. Neither the firm nor its agents or representatives may give tax or legal advice. All examples are hypothetical. Figures are current as of 2026 and may change.
