[Toymeister]

How Many Millionaires Live in the Villages Florida
INVESTOR TIMES by INVESTOR TIMES Reading Time: 2 mins read

How Many Millionaires Live in The Villages, Florida?

The Villages, located in central Florida, is a popular retirement community known for its active lifestyle and numerous amenities. With its beautiful weather, golf courses, and recreational facilities, it has become a sought-after destination for retirees. Alongside the active lifestyle, an intriguing question arises: how many millionaires live in The Villages?

While it is challenging to determine an exact number, The Villages is home to a significant number of millionaires. According to a study conducted by Phoenix Marketing International, The Villages had the highest concentration of millionaires per capita in the United States in 2019. The study found that approximately 39% of households in The Villages had a net worth of at least one million dollars, excluding their primary residence.


The Villages’ appeal to millionaires can be attributed to several factors. Firstly, the cost of living in Florida is relatively low compared to other states with high concentrations of wealthy individuals, such as New York or California. This, combined with the absence of state income tax, makes Florida an attractive destination for retirees looking to stretch their retirement funds opportunities.

1. Are there any specific neighborhoods in The Villages where millionaires live?
While it is challenging to pinpoint specific neighborhoods, millionaires can be found throughout The Villages.

2. What are some common professions of the millionaires in The Villages?
The Villages is home to a diverse group of millionaires, including former business owners, executives, doctors, and lawyers.

3. How do millionaires in The Villages spend their time?
Millionaires in The Villages often engage in recreational activities such as golfing, boating, and participating in social clubs and events.

4. Do millionaires in The Villages typically downsize their homes?
Many millionaires in The Villages choose to downsize their homes, opting for smaller, low-maintenance properties that align with their desired lifestyle.

5. Are there any exclusive clubs or organizations for millionaires in The Villages?
While there are no exclusive clubs solely for millionaires, there are various clubs and organizations that cater to different interests and hobbies.

6. Are there any philanthropic efforts by millionaires in The Villages?
Yes, many millionaires in The Villages are actively involved in philanthropic endeavors, supporting local charities and causes.

7. Can non-millionaires also live in The Villages?
Absolutely! The Villages is an inclusive community that welcomes residents from various financial backgrounds.

8. Are there any financial planning services available for residents in The Villages?
Yes, residents have access to financial planning services within The Villages to help manage their wealth and retirement funds.

9. How does the presence of millionaires impact the local economy?
The presence of millionaires in The Villages contributes to the local economy by stimulating businesses and creating job opportunities

10. Are there any tax advantages for millionaires living in The Villages?
Florida’s lack of state income tax is an advantage for millionaires living in The Villages, allowing them to keep more of their wealth.

11. Are there any disadvantages to living in The Villages as a millionaire?
Disadvantages can vary depending on individual preferences, but some may find the community’s focus on retirement activities limiting if they desire a more urban lifestyle.

12. Can I visit The Villages as a non-resident to experience the community?
Yes, The Villages welcomes visitors who can explore the community’s amenities, participate in activities, and get a feel for the lifestyle it offers.

In conclusion, The Villages, Florida, is home to a significant number of millionaires, with a high concentration per capita. The community’s low cost of living, exclusive amenities, and social opportunities contribute to its appeal among the affluent. Whether you are a millionaire or not, The Villages offers a unique retirement experience for individuals from various backgrounds.

[thelegges]

Not surprised, many move here from those large 5 bedroom expensive homes in cold climates, with high taxes, sold for a great profit, in exchange for warm weather and 3-4 bedrooms. It’s the lack of basement, that is just a little shocking, not just for storage, but weather related issues. But this should be a fun thread

[Kenswing]

Honestly I thought the number would be higher. It doesn’t take much to amass a million dollars these days. If you worked for a company that offered a 401k and you took advantage of it you should easily be a millionaire. If you invested at all in real estate in your younger days you should be a millionaire. So many ways to get to a million these days. Heck, if you just post a few viral videos on YouTube you can be a millionaire-lol.

[manaboutown]

That is a very conservative number. Too, the study did not consider home equity and the inherent value of pensions and social security. A large percentage of the homes are mortgage free. Most people receive social security and medicare benefits, some have defined benefit or other types of pensions, including civil service and/or military. Those all have value.

[justjim]

Not a surprise. Like it’s already been said, it doesn’t take a lot for a person who worked hard, and saved diligently for retirement to have a net worth of a million dollars. By todays standard this doesn’t make you rich but it does make you financially comfortable. As we age, good health is much more important than money.

[Michael G.]

I was just reading the other day about someone determined to get into debt
in his lifetime by at lest a million dollars.

He claims if you live to be a millionaire, you lost a million dollars if you die.
But if you die as a millionaire in debt, you gain a million dollars.

[CoachKandSportsguy]

Originally Posted by Michael G.

He claims if you live to be a millionaire, you lost a million dollars if you die.
But if you die as a millionaire in debt, you gain a million dollars.

If you don't understand this, then you don't know how to keep score!
Bernie Madoff understood this. .
Others similar to Madoff understand this. .

Those that lived with the best toys/experiences and die with the best toys/experiences wins!

[CoachKandSportsguy]

Originally Posted by justjim

Not a surprise. Like it’s already been said, it doesn’t take a lot for a person who worked hard, and saved diligently for retirement to have a net worth of a million dollars. By todays standard this doesn’t make you rich but it does make you financially comfortable. As we age, good health is much more important than money.

rich to the average person is wealth > $5M for today. . next year, will need more. .

[Laker14]

Originally Posted by CoachKandSportsguy

rich to the average person is wealth > $5M for today. . next year, will need more. .

I subtly disagree.

Wealth is the ability to live well and be happy, within your means. I know people with much more money than I have who always complain about the cost of things because they can't figure out how to live within their means, and I know people with far less than I have who seem to be just fine with the cost of things. They just don't buy stuff they don't need or want, based upon their means.

My net worth is far less than 5M, but I have everything I need, and then some. I am sure there are people worth 10M who would be horrified at the prospect of trying to eke out a lifestyle with only 5M.

[Randall55]

I looked up the percentage of millionaires in Florida. I looked up the percentage of millionaires in Orlando. I looked at the latest Census for the average income in the Villages. IMHO 39% is awful high! There is another thread on this forum entitled Will The Truth Become a Trend. I guess if you google only one source, you get nearly 39% of Villagers are millionaires. I am having a hard time believing it.

All the numbers I look at are in the 5-7% range. Some even lower. 1 in 2 people is 50%. If nearly one in two people are millionaires here: few would complain about rising insurance rates, the cost to put on a new roof, the increase in fire assessment, etc.etc. I know quite a few people who have lived here for 20 plus years. The cost of their new home at that time was under $100,000. I personally know none of them are millionaires. People who lived here for 10 plus years. The cost of their homes low $200,000. I personally know none of them are millionaires. Most of the people I know sold their homes up north, paid cash for the home in the Villages and are living off monthly pension and social security. 39% seems off!

[bcsnave]

Originally Posted by Kenswing

Honestly I thought the number would be higher. It doesn’t take much to amass a million dollars these days. If you worked for a company that offered a 401k and you took advantage of it you should easily be a millionaire. If you invested at all in real estate in your younger days you should be a millionaire. So many ways to get to a million these days. Heck, if you just post a few viral videos on YouTube you can be a millionaire-lol.

It is so sad that being a 2023 Millionaire isn't what it was in 1968 when Jackie Gleason was in Miami.

[CoachKandSportsguy]

Originally Posted by Laker14

I subtly disagree.

Wealth is the ability to live well and be happy, within your means. I know people with much more money than I have who always complain about the cost of things because they can't figure out how to live within their means, and I know people with far less than I have who seem to be just fine with the cost of things. They just don't buy stuff they don't need or want, based upon their means.

My net worth is far less than 5M, but I have everything I need, and then some. I am sure there are people worth 10M who would be horrified at the prospect of trying to eke out a lifestyle with only 5M.

you are not an average person, you are an individual. The comment was about the dollar value of rich in today's world, which is very much up from $2M which was used about 10-15 years ago.

I play the lottery to get rich, but I have a fine life and don't quite have everything i want, but then again , most people don't have everything they want. . but they live a very comfortable life here in the villages..

my personal opinion of these types of threads is "who cares, as I certainly don't about levels and judgements with respect to other people's money"

[Kenswing]

Originally Posted by Randall55

I looked up the percentage of millionaires in Florida. I looked up the percentage of millionaires in Orlando. I looked at the latest Census for the average income in the Villages. IMHO 39% is awful high! There is another thread on this forum entitled Will We Ever Know the Truth. I guess if you google only one source, you get nearly 39% of Villagers are millionaires. I am having a hard time believing it.

All the numbers I look at are in the 5-7% range. Some even lower. If 1 in 2 people is 50%. See where this is going? 39% seems off!

In my opinion you can’t equate income to wealth. Not totally anyway. Especially in The Villages. Most have already made their money. The income they show now is from social security, retirement and investments. Smart people manage their income in accordance with the tax burden they’re comfortable with.

[manaboutown]

My brother just took over managing his in-law's finances as the husband, who handled them, has developed dementia. He was astonished they did not have enough in their bank account to pay their latest income tax bill. Their pensions bring in $180K per year but they spend it all. He sold their motor home and second home, a 'cabin' in the mountains of Colorado for over $1M so he was able to pay their taxes and set aside some savings. He told me they had substantial credit card balances and no savings! He wants to sell their primary home up there but he must first move safes containing large coin, gold and gun collections down to Tucson where they are now living in their third (winter) home. He tells me his sister-in-law still spends wildly and has bought all new furniture for their Tucson house. He is still buying gold using credit cards. Years ago the couple lived across the street from me. He had several cars, a Bronco, a pickup truck with a camper on it and a large motorhome. They live wealthy but have never saved a dime other than in hard assets.

[Stu from NYC]

Originally Posted by CoachKandSportsguy

rich to the average person is wealth > $5M for today. . next year, will need more. .

Ask people what they must have in assets to be considered rich. Answers are all over the map