58-year-old left NYC for Miami looking for tax savings. But he found an even bigger win: early retirement

After nearly four decades working in New York City, Scott Scovel was ready for something new. In 2019, he sold his Manhattan condo for $1.65 million. In 2021, he took a job in Miami. He hoped to benefit from Florida's lack of income tax and relatively lower cost of living. Must Read The tax savings, it turned out, didn't affect him as much as he expected. While working, he says he saved around $40,000 a year. But the real advantage was how much further his housing budget stretched. He spent $727,500 o ...