By Mark S. Gardner | FL License #W211716 Nationally Recognized Retirement Strategist | Master Elite Member, Ed Slott’s IRA Advisor Group | Serving Florida Clients Statewide
Expert financial advice for working mothers and self-employed professionals in Florida
Florida is one of the most tax-advantaged states in the country — no state income tax, no estate tax, and favorable homestead exemptions. But turning those advantages into a real retirement strategy takes more than awareness. It takes a plan built around your specific situation.
At Retire Well Dallas, we specialize in financial advice for working mothers in Florida and retirement plans for the self-employed in Florida. Whether you’re a freelancer in Miami, a business owner in Tampa, or a working mom juggling a career and a growing family in Orlando, we help you build a financial future that actually works.
Why Florida residents have a unique planning opportunity?
Florida’s zero state income tax is a significant advantage — but it only benefits you if your federal tax strategy is designed to take full advantage of it. Without proactive planning, many Floridians pay far more in federal taxes than necessary, especially during retirement when they begin drawing down savings.
As your tax planning advisor in Florida, we focus on:
- Structuring retirement income so it’s taxed at the lowest possible rate
- Using Florida’s homestead exemption to protect your primary residence
- Coordinating Social Security timing with other income sources to avoid benefit taxation
- Planning Roth conversions during low-income years before required minimum distributions begin
Financial advice for working mothers in Florida
Working mothers carry a disproportionate planning burden: career income, childcare costs, potential career gaps, and longer life expectancy all create a financial picture that generic advice doesn’t fit.
According to the National Institute on Retirement Security (2023), women retire with significantly less savings than men on average — yet they live longer and face higher healthcare costs. That gap is closeable with the right strategy, started early.
What we focus on for working mothers:
Tax-advantaged accounts that grow with your career: Maximize contributions to your 401(k) or, if your employer doesn’t offer one, a Roth IRA. These accounts grow tax-deferred or tax-free and significantly reduce your current taxable income.
Health Savings Accounts (HSAs): Florida residents with high-deductible health plans can contribute to an HSA — the only account in the U.S. tax code that is tax-deductible going in, grows tax-free, and is tax-free on qualified withdrawals. It’s a powerful supplement to retirement savings.
Life and disability income protection: Many working mothers are the primary or co-primary earner. Protecting that income against illness, injury, or early death is the foundation of every plan we build.
Estate planning basics: Beneficiary designations, wills, and healthcare directives are not just for the wealthy. We help you get the basics in place, so your family is protected.
Retirement plans for self-employed professionals in Florida
Florida has one of the fastest-growing self-employed workforces in the country. As a freelancer, independent contractor, or small business owner, you don’t have an employer matching your 401(k) — which means you’re entirely responsible for building your own retirement security.
The upside? Self-employed individuals have access to some of the most generous retirement savings vehicles in the tax code.
The best retirement plans for self-employed Floridians:
SEP IRA (Simplified Employee Pension) Contribute up to 25% of net self-employment income, with a 2024 limit of $69,000. Contributions are tax-deductible, and the plan is simple to set up and maintain — ideal for sole proprietors and freelancers.
Solo 401(k) For self-employed individuals with no full-time employees (other than a spouse), the Solo 401(k) allows both employee and employer contributions — up to $69,000 in 2024, or $76,500 if you’re 50 or older. This is the highest-contribution retirement vehicle available to sole proprietors.
Defined Benefit Plan For high-income self-employed professionals consistently earning $200,000+, a defined benefit plan can allow contributions well above Solo 401(k) limits — sometimes exceeding $200,000 per year. This dramatically reduces taxable income while building substantial retirement assets.
Working with a financial advisor in Florida who understands self-employment tax ensures you’re selecting the right plan structure and maximizing your contributions each year.
Why work with Mark S. Gardner, your financial advisor in Florida?
Mark S. Gardner is a nationally recognized retirement strategist and financial educator with over four decades of experience helping individuals and families plan for the retirement they deserve.
He is a Master Elite member of Ed Slott’s IRA Advisor Group — a designation that keeps him at the forefront of evolving IRA rules, Roth conversion strategies, and retirement tax law. He is also certified in Social Security Claiming Strategies (CSSCS), an area critical for Florida retirees maximizing lifetime benefits.
Mark has been featured in Forbes, Benzinga, and Yahoo Finance, and has appeared on ABC, NBC, CBS, and FOX affiliates nationwide. He is the bestselling co-author of The Keys to Authenticity with Jack Canfield.
His mission: “Income is the outcome that matters most in retirement.”
What a personalized plan includes:
- A full review of your current savings, income, and tax situation
- A retirement income projection showing exactly what you need to save — and when
- Tax-efficient investment and withdrawal strategy tailored to Florida’s tax environment
- Annual review to adjust for life changes and tax law updates
Talk to a financial advisor in Florida today
Your financial future doesn’t have to be uncertain. Whether you’re just starting to save or getting serious about retirement in the next 5–10 years, the right plan starts with a conversation.
Florida clients contact: Gabriel Herzig, Financial Advisor — Florida 📞 (305) 490-1786 ✉ GabrielHerzig@RetireWell.co
Or reach Mark directly: 📞 (214) 762-2327 ✉ MarkGardner@RetireWell.co
Retire Well Dallas | FL License #W211716 | National Producer #12324079 | Serving clients statewide in Florida Not endorsed by the Social Security Administration or any government agency.
Frequently Asked Questions: Financial advisor in Florida
What does a financial advisor in Florida do for self-employed individuals?
A financial advisor in Florida who specializes in self-employment helps you set up and maximize tax-advantaged retirement accounts such as a SEP IRA, Solo 401(k), or defined benefit plan. They also help you manage quarterly estimated taxes, deduct legitimate business expenses, and build a retirement income strategy that accounts for the irregular income common among freelancers and business owners. Because self-employed individuals pay both the employee and employer portions of Social Security and Medicare taxes (the “self-employment tax”), a good advisor helps offset that burden through legal deductions and retirement contributions.
What is the best retirement plan for self-employed people in Florida?
The best retirement plan depends on your income level and business structure:
- Solo 401(k) is generally best for sole proprietors and single-member LLCs earning $50,000–$200,000+ annually. It allows the highest contributions relative to income of any plan for self-employed individuals, up to $76,500 in 2024 for those 50 and older.
- SEP IRA works well for freelancers who want simplicity. You can contribute up to 25% of net self-employment income with minimal administrative burden.
- Defined Benefit Plan is most powerful for high-earning self-employed professionals (typically $200,000+ per year) who want to make very large deductible contributions — sometimes exceeding $200,000 annually.
A tax planning advisor in Florida can model each option against your actual income and tax bracket to identify which plan generates the greatest after-tax benefit for your specific situation.
Does Florida have any special tax advantages for retirees?
Yes — Florida is one of the most retirement-friendly states in the country from a tax perspective. Florida has no state income tax, which means Social Security benefits, pension income, IRA distributions, and investment gains are not taxed at the state level. Florida also has no estate or inheritance tax. For retirees who move to Florida from high-tax states like New York or California, the savings can be substantial. A financial advisor in Florida will help you structure your retirement withdrawals to minimize federal taxes as well, since federal tax obligations still apply regardless of which state you live in.
What financial planning challenges do working mothers in Florida face?
Working mothers in Florida face several compounding financial challenges. Career interruptions — whether for maternity leave, caregiving, or reduced hours — can significantly reduce lifetime Social Security benefits and retirement savings accumulation. Women also statistically live longer than men, meaning their retirement savings must stretch further. Healthcare costs in retirement are higher for women on average. And childcare costs in major Florida metros (Miami, Orlando, Tampa) are among the highest in the Southeast, competing directly with savings capacity. Our financial advice for working mothers in Florida addresses all of these factors with strategies for catch-up contributions, survivor benefit planning, HSA optimization, and income protection.
How do I choose a tax planning advisor in Florida?
Look for an advisor who holds a relevant designation, is properly licensed in Florida, and has verifiable experience working with clients in your specific situation — whether self-employed, a working parent, or approaching retirement. Ask how they are compensated (fee-only advisors have fewer conflicts of interest than commission-based advisors), whether they provide comprehensive financial planning or only investment management, and how often they will review your plan. Verify their license status through the Florida Department of Financial Services or FINRA BrokerCheck before engaging.
At what age should I start retirement planning in Florida?
The best answer is: as early as possible, but it is never too late to start. Beginning in your 30s allows compound growth to do the heavy lifting. Starting in your 40s still leaves 20+ years of meaningful contribution. Even clients in their 50s and early 60s benefit significantly from a structured plan — catch-up contribution limits allow those 50 and older to contribute an additional $7,500 per year to a 401(k) and an additional $1,000 to an IRA in 2024. A financial advisor in Florida can build a realistic projection for your specific situation regardless of where you are starting from.
Can I work with Retire Well Dallas if I live in Florida?
Yes. Retire Well Dallas serves clients throughout Florida. Gabriel Herzig leads our Florida practice and is available at (305) 490-1786 or GabrielHerzig@RetireWell.co. Mark S. Gardner holds a Florida insurance license #W211716 and oversees planning strategy for all Florida clients. All consultations can be conducted by phone or booking, and we work with clients across Miami, Orlando, Tampa, Jacksonville, and throughout the state.