Florida, Pennsylvania, Or California? Which Retiree Keeps The Most Money?

Drew Wood

Mon, June 29, 2026 astatine 6:17 AM CDT 5 min read

Quick Read

• On identical $60,000 dividend portfolios, Florida retirees nett ~$55,815 annually versus ~$52,515 successful California, a $3,300 yearly spread that grows to much than $80,000 implicit a 25-year retirement.

• Florida levies zero authorities taxation connected dividends, Pennsylvania charges a level 3.07%, and California taxes them arsenic mean income, driving the quality successful take-home pay.

• Higher security costs, cost-of-living differences, and idiosyncratic ties similar household and doctors marque relocating for a 5% taxation savings impractical for astir retirees.

• Are you ahead, oregon down connected retirement? SmartAsset's escaped instrumentality tin lucifer you with a fiscal advisor successful minutes to assistance you reply that today. Each advisor has been cautiously vetted, and indispensable enactment successful your champion interests. Don't discarded different minute; larn much here.

Three retirees ain the aforesaid portfolio. Each holds $1 cardinal successful dividend-paying stocks generating astir $60,000 a twelvemonth of income. One lives successful Florida, 1 successful Pennsylvania, and 1 successful California. By the clip the twelvemonth ends, they volition not person the aforesaid magnitude of spending power, adjacent though their brokerage statements look identical. State taxes, healthcare costs, security expenses, and section prices each impact however overmuch of that dividend income yet remains disposable to spend.

Three retirees, 1 portfolio

The retirees ain a diversified income portfolio that generates astir $60,000 per twelvemonth successful dividend income. The holdings see dividend-growth stocks specified arsenic Johnson & Johnson, Procter & Gamble, and NextEra Energy, on with higher-yield holdings specified arsenic Realty Income and Verizon. The nonstop portfolio creation matters little than the outcome: each retiree receives the aforesaid $60,000 yearly income watercourse earlier taxes and expenses.

Run that income done the national code, authorities taxation systems, security costs, and section surviving expenses, and 3 antithetic outcomes emerge.

Are you ahead, oregon down connected retirement? SmartAsset's escaped instrumentality tin lucifer you with a fiscal advisor successful minutes to assistance you reply that today. Each advisor has been cautiously vetted, and indispensable enactment successful your champion interests. Don't discarded different minute; larn much here.

How each authorities treats the aforesaid dividend cheque

Florida levies nary authorities income taxation connected dividends, interest, oregon superior gains. Pennsylvania taxes concern income astatine a level 3.07%, but exempts Social Security, pensions, and IRA withdrawals aft 59½. California treats qualified dividends arsenic mean income, with brackets climbing to 13.3%. At $60,000 of single-filer taxable income, the California effectual complaint lands adjacent 5% to 6%.