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Florida, Pennsylvania, Or California? Which Retiree Keeps The Most Money?
Key takeaways
- Florida, Pennsylvania, Or California?
- Florida levies zero state tax on dividends, Pennsylvania charges a flat 3.07%, and California taxes them as ordinary income, driving the difference in take-home pay.
- Higher insurance costs, cost-of-living differences, and personal ties like family and doctors make relocating for a 5% tax savings impractical for most retirees.
Florida, Pennsylvania, Or California? Which Retiree Keeps The Most Money? Drew Wood Mon, June 29, 2026 at 6:17 PM GMT+7 5 min read O NEE NEE-PS NEE-PT JNJ Quick Read On identical $60,000 dividend portfolios, Florida retirees net ~$55,815 annually versus ~$52,515 in California, a $3,300 annual gap that grows to more than $80,000 over a 25-year retirement.
Florida levies zero state tax on dividends, Pennsylvania charges a flat 3.07%, and California taxes them as ordinary income, driving the difference in take-home pay.
Higher insurance costs, cost-of-living differences, and personal ties like family and doctors make relocating for a 5% tax savings impractical for most retirees.
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