Retiring to Florida with College Aged Kid

[Walt34]

Or am I just overthinking this?

Yes you are overthinking this as many others have pointed out. I once asked my dentist why he chose to live/practice here (WV) which is not exactly a high-income area. Not poor by any means, but not wealthy either. With his education he could live pretty much anywhere he wanted. His reply was that he liked the quality of life. On his days off he likes hunting/fishing/hiking, among other things. He likes four seasons. He likes his five-minute commute to the office. He has friends who spend big bucks to come here on vacations to do what he does on the weekends for free. And he acknowledged that "Yeah, I could go to D.C. or someplace and make twice the money, but the quality of life would be terrible".

It's not always about the benjamins. One of DW's cousins is a general surgeon, and when he got out of medical school he found a deal from a hospital in an underserved area of Tennessee. If he worked there for five years they'd pay off his school loans, and he had a pile of them. He and his family liked it so much that 30 years later they're still there. He knows he could go elsewhere and make more money but his and his family's lifestyle would suffer and they know it.

 

[Ncc1701]

Wow. If you don't consider FL a complete state, then don't move there.

This is why there are bumper stickers in FL that say: "If you <heart> NY so much, go back."

I moved to FL to start my great career that lead to ER at 55. Just the opposite of your worries, so yeah, you are overthinking

I have lived in NY all my life and I'm sick of it. However, it is great for starting a career and no one will doubt that average salaries in many, many fields are higher in NY than FL. In general, people work hard and put up living in NY because the money is good and then they take their money down south to retire. I'm sure you can agree on that concept.

And while I would hope my son would want to be near his parents after college, I realize it may not happen but it is wishful thinking because that's exactly what me and my wife did.

 

[Dtail]

True, but only in limited, easy to identify and avoid areas. Hardly a statewide problem.

+1
We don't worry about crime at all in our area.

 

[Rambler]

What if he goes to college in California and gets a job in Denver? Should you move twice for his college and job? I don’t mean to sound mean, but, when he’s in college, do you and your DW honestly think he’ll want to be home hanging with the ‘rents instead of his college buddies or a girlfriend? Get on with your life. He’ll be fine. He’ll come visit when he does whether you live in NY or FL...if he lives elsewhere, it doesn’t matter.

 

[Dash man]

I agree you’re overthinking this. IMO you need to let your son live his life and follow his own path. He may resent you pushing him to go to Florida, but love it if he decides to go on his own. Offer him advice and options, but support his decisions.

 

[brett]

Seems to me that it does not matter whether you believe Florida is a dumpster or a modern day Shangri-la.

All that matters is what you son thinks and does as he moves forward with his life. Really, do you expect him to live permanently for the rest of your life where YOU decide to retire

No doubt there are some wonderful, safe areas to live in Florida. Just as there are in other states.

 

[Sunset]

Thanks All. I should've mentioned that his mom would hope that he be near to us but I realize that may not be realistic

Just get a house within a block of South Beach... and you will always know where to find your son.

 

[meleana]

Our son went to college in NH and never came home. Fast forward to this year we retired from NY to NH..

 

[2cheap2eat]

I have lived in NY all my life and I'm sick of it. However, it is great for starting a career and no one will doubt that average salaries in many, many fields are higher in NY than FL. In general, people work hard and put up living in NY because the money is good and then they take their money down south to retire. I'm sure you can agree on that concept.

And while I would hope my son would want to be near his parents after college, I realize it may not happen but it is wishful thinking because that's exactly what me and my wife did.

Yes salaries in NY are higher, but that’s partially due to higher cost of living, not to mention higher taxes!

 

[Dtail]

Yes salaries in NY are higher, but that’s partially due to higher cost of living, not to mention higher taxes!

Yes, but the possibilities at least in Finance in working in the NY area more than balances out the higher cost of living. Of course one needs to reach a decent but not super high level in the megacorp.
It also assists in maximizing one's SS.

 

[daylatedollarshort]

Yes, but the possibilities at least in Finance in working in the NY area more than balances out the higher cost of living. Of course one needs to reach a decent but not super high level in the megacorp.
It also assists in maximizing one's SS.

But you could also say the possibilities for having a mortgage free home and owning rental properties are greater in low cost of living areas. In The Millionaire Next Door, millionaires weren't just concentrated in cities like New York: "About two-thirds of us who are working are self-employed. Interestingly, self-employed people make up less than 20 percent of the workers in America but account for two-thirds of the millionaires....Most of the others are self-employed professionals, such as doctors and accountants. Many of the types of businesses we are in could be classified as dull/normal. We are welding contractors, auctioneers, rice farmers, owners of mobile-home parks, pest controllers, coin and stamp dealers, and paving contractors."

 

[Global Wizzo]

FL Retirement & career

Hi,
I retired initially in Tampa. Son was 8 then. He went to one year of private school for JR high and we
Moved to Orlando. He finished HS in Orlando, then went to USMA and had a very short Army career due to med reasons. His jobs took him to
CA, Germany, Mozambique, Qatar, DC, Nigeria and Europe.
I wouldn’t worry about where you live. He will be more concerned about getting admitted to a university. Scholarships, career desires and following graduation where he can find a job. Where you live likely will have no bearing on his decisions and shouldn’t. The biggest factor in job/salary is the actual degree and his qualifications. A liberal arts degree will likely not be his best bet.

You might consider locating reasonably close to a good airport. Makes travel for all to visit much easier. Do you have a must use airline? Do they serve the area?

What services matter to you? Shopping? Dining? Etc.

Be sure to consider location vs cost of insurance. Can you get the coverage you need? Cost? Depending on location you could be forced to self insure.

I currently live on the east coast. Would never consider moving back to any of the ‘big’ Florida cities. I can drive to them If needed. Local airport is great (I still travel a lot, or will once we can travel again). Traffic in the major metro areas is miserable. If you expect or are used to subways/trains for transportation, you won’t find it in Florida. Plan to drive.

Good luck.

 

[SonofCohoes]

I understand the concerns about crime and homelessness but I'm thinking if I stick to the areas near Naples, Sarasota or Tampa, I can somewhat reduce the concerns.

I guess my bias towards NY for a financially rewarding career comes from our personal experiences and from what I hear about the job market in FL.

Fl. is the new NY. If there’s a bias towards NY stay there until school is done, it’s only 2 years. Are you thinking of using the cost benefits of SUNY for school?

 

[Maidensong]

Everything is relative. NY has high paying careers because it is such a wickedly high cost of living area. Believe it or not, there is life outside of the Big Apple.

After graduating from university 80 miles from our parents, my DH and I have lived in 9 different states, all 4 continental US time zones, following new opportunities as we found them. In the meantime, my parents moved 4 times as well. They finally settled in the Ozarks and we decided to retire early there too. The cost of living is like a 3rd world country, but our little town still boasts a great hospital, a state college, and plenty to do (when we aren't all holed up by this virus!). We're surrounded by the Mark Twain forest, crystal-clear spring-fed rivers, gently rolling hills they call mountains around here, and lots of good folks.

Where you start is not always where you end up. That's up to you. And it's up to your kids too. They'll go where they need to go, but if you're lucky, they'll find their way back closer later on. I'm very glad to be living four blocks from my parents.

Now...if we could just get both of our kids here too...

 

[Ncc1701]

Fl. is the new NY. If there’s a bias towards NY stay there until school is done, it’s only 2 years. Are you thinking of using the cost benefits of SUNY for school?

Thanks all for the responses. You've convinced me not to worry about the difference in pay between NY and FL and let the chips fall where they may.

While I realize there is a financial benefit to him going to a SUNY school, I'm not prepared to live in NY an additional 6-7 years after we retire (Beneficiaries of the program are required to stay in NY after they graduate). Frankly, I'd rather pay $15k/yr for a FL state school

My wife is a teacher so we are fortunate to have her health coverage continue for the three of us when she retires 4 years from now

 

[Amethyst]

Something else to ponder...

We're still a long ways from out of the woods with COVID-19.

With colleges and students having to adapt, in a hurry, to online instruction, I could see a situation developing, where online instruction becomes much more mainstream and "the way things are done today."

So I wonder how much college location is really going to matter, to today's high school students? Rather than incur the big student debts their older siblings and parents were saddled with, I'll bet a lot more students will see the sense in living at home and doing their classes online.

Your son has a lot of years of college ahead - you may be surprised how things will go!

 

[Ncc1701]

That is true. A college education may become just as portable as most jobs. We shall see.

On another note, I did something really stupid. I joined a Facebook Group titled "Moving from NY/NJ to Florida" and now my news feed is full of people showing me their moving boxes and living by the beach........

This is going to be a long 4 years

 

[MissMolly]

That is true. A college education may become just as portable as most jobs. We shall see.

On another note, I did something really stupid. I joined a Facebook Group titled "Moving from NY/NJ to Florida" and now my news feed is full of people showing me their moving boxes and living by the beach........

This is going to be a long 4 years

You should be able to "stop following" them and then just go out to that group whenever you feel like it and look to see what is posted.

 

[daylatedollarshort]

Something else to ponder...

We're still a long ways from out of the woods with COVID-19.

With colleges and students having to adapt, in a hurry, to online instruction, I could see a situation developing, where online instruction becomes much more mainstream and "the way things are done today."

So I wonder how much college location is really going to matter, to today's high school students? Rather than incur the big student debts their older siblings and parents were saddled with, I'll bet a lot more students will see the sense in living at home and doing their classes online.

Things were heading more in that direction anyway, but Covid sure gave it a big push. I found these certificate programs by Google really interesting and they are all on Coursera - https://grow.google/certificates/

 

[Navigator]

Something else to ponder...

We're still a long ways from out of the woods with COVID-19.

With colleges and students having to adapt, in a hurry, to online instruction, I could see a situation developing, where online instruction becomes much more mainstream and "the way things are done today."

So I wonder how much college location is really going to matter, to today's high school students? Rather than incur the big student debts their older siblings and parents were saddled with, I'll bet a lot more students will see the sense in living at home and doing their classes online.

That’s been the prediction for years, but I don’t think 18 year olds having sense is what will do it. When I turned 18 the very last thing I wanted to do was live at home. However, some smart university is going to start offering online classes at a very low tuition rate, causing cash-strapped students to sign up. Once they get a thousand students in a class, they can lower tuition to $100 or so a class and still make a profit. I bet that’s when we’ll see students staying home for college, out of financial necessity.

 

[daylatedollarshort]

That’s been the prediction for years, but I don’t think 18 year olds having sense is what will do it. When I turned 18 the very last thing I wanted to do was live at home. However, some smart university is going to start offering online classes at a very low tuition rate, causing cash-strapped students to sign up. Once they get a thousand students in a class, they can lower tuition to $100 or so a class and still make a profit. I bet that’s when we’ll see students staying home for college, out of financial necessity.

That has already happened! Check out sophia.org. - $79 a month and a number of accredited schools accept their credits - https://www.sophia.org/ and straightlerline.org - $59 classes, and accepted at these colleges - https://www.straighterline.com/colleges/.

 

[Retch The Grate]

my dad, who spent the last part of his career in academia (again, he started his career in academia too, then spent twenty+ years in business before returning to it) spent a chunk of time building Northeastern's online teaching program, he's been expecting for years that the three different things universities do for students would break up into specialty organizations: Resort housing, instruction, testing/accreditation, and that universities as we know them would cease to exist. He isn't sure when, but the pandemic could be the sort of turning point that triggers this.

 

[Amethyst]

Well, with multi-person classroom video apps, the only thing I can see that's missing is the ability to flirt with classmates. And I am pretty sure young people are, or soon will be, on top of that, too

 

[wrigley]

I was going to make this very point myself. Crime and homelessness in Florida is also high. It is not on my list of warmer retirement locations to even consider.

There's no crime and homelessness in Ohio?

Maybe not, but there is cold, snow, and state income tax.

I'll stay in Florida!

Mike

 

[Badger]

That is true. A college education may become just as portable as most jobs. We shall see.

On another note, I did something really stupid. I joined a Facebook Group titled "Moving from NY/NJ to Florida" and now my news feed is full of people showing me their moving boxes and living by the beach........

This is going to be a long 4 years

According to the Chronicle of Higher Education (a 2012 issue) a third of students transfer before graduating including going to a community college. Changing to another college or university is nothing new and has been going on for many many decades. The number of students changing their major is also similar especially if it is in math or natural sciences.



Cheers!