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Think moving to Florida is just for retirees? Think again!

Writer: Jason Soman
Jason Soman
Nov 4, 2022
1 min read

Updated: Aug 17

Think moving to Florida is just for retirees? Think again.


Take Ben. Ben is 25 years old, single, lives in NYC and makes $100k a year.


Ben will pay NY State $5,800, and NYC $3,750 in income taxes (total $9,550).


Let’s say Ben moved to Miami, and instead invested the $9,550 in saved taxes each year.


At 5% growth in annual tax savings, 5% after-tax return, and all else remaining equal Ben would have a nest egg of $2.6M+ by the time he hits age 65!


Come on down New Yorkers, we’d love to have you! ☀️


New York to Florida tax savings example by Jason Soman of Soman Forensics & Valuation CPA

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