Is retirement planning in Tampa, FL, unique to other cities?
Retirement planning on its own can be daunting, but retirement planning in Tampa, Florida, can feel like a whole other beast. Tampa’s housing market prices and inflation rates are higher than the national average. This is making it hard for people to find affordable housing. Currently, Tampa’s housing market is ranked 14th in terms of unaffordability in the nation. According to data collected last year, approximately 70% of the home offers resulted in bidding wars. The housing market in Tampa has become extremely competitive, which can make planning for retirement in this city particularly unique.
Potential adjustments financial advisors can help people make to their retirement strategy to compensate for outside factors
- Housing costs — Financial advisors can help you anticipate any housing costs that may crop up during and before your retirement. They will be able to adjust your budget according to fluctuations in the housing market.
- Health care costs — While medical expenses can be hard to predict, your advisor will be sure to calculate a well-informed estimate so that you can be financially prepared in the event of a medical crisis in your family.
- Travel costs — A financial planner can help you adjust to fluctuations in gas prices, airline ticket costs and other travel expenses so you can enjoy traveling during your retirement.
These are just a few of the potential adjustments a financial advisor might help you make to your retirement plan for life in Tampa.
Talk to a ProVise CFP® professional about your retirement planning for life in Tampa
At ProVise Management Group, our CERTIFIED FINANCIAL PLANNER™ professionals can get to know you and your current financial circumstances, goals, risk tolerance, and personal values to help you develop a plan that works for you. We can also create a written plan for you at a fiduciary standard of care. All our written plans come with an unconditional money-back guarantee. If you are unhappy with your written plan, you can return it to us, and we will refund 100% of the fee paid.
Are you ready to talk to a professional about how you’re going to plan for retirement? Contact ProVise today to schedule a complimentary consultation.