Menu burger Close thin Facebook Twitter Google plus Linked in Reddit Email arrow-right-sm arrow-right Loading Home Buying Calculators Yes, many people like to retire near the ocean, but why? Residents love it because of the growing economy, entertainment, proximity to the beach and cost of living. Fresh air, seafood, warm water, fishing, or other water sports, as well as beach walks, are available on your doorstep; you need to find the right place to settle. It costs a median of $1,521 per month to own a home with a mortgage in Port St. Lucie, and a median of $1,194 monthly to rent. Sara Ventiera is a journalist based in New York City and Los Angeles. Where to stay: Baltimore Marriott Waterfront. Instead of Hilton Head, Try: Myrtle Beach, S.C. Of those, Ocean Springs is the beachiest. Located in Baltimore County, Essex is a coastal community along the Black River. It all depends on the kind of lifestyle you are after., READ MORE: Cruise Ship Tips: 9 Insider Secrets From A Trailblazing Captain. While some scenarios about how thenational debt can affect your wallet might be speculative, anything is possible if borrowing continues to accelerate. (Getty Images) Median home list price: $237,050 Millions of tourists flock to Myrtle Beach each year, lured by its surf. Most folks probably dont imagine spending their beachy retirement huddled up under layers of sweaters and blankets, but theyre missing out. The overall cost of living is about 28% lower than in the United States, and rent is 73% lower. It may also be a little more lively. Where to stay: Waterfront Manette Beach House. Unless otherwise noted, all data was sourced from Redfin and the U.S. Census Bureau. According to United Van Lines National Movers Study, in 2018, 39% of the retirees they moved had their GPS systems locked on to Florida. Offers may be subject to change without notice. Port Arthur has gone through a revitalization that has resulted in a refreshed downtown. The cost of living in Pensacola is actually lower than the national average, making it the perfect spot to buy a beach home, says Brittany Mendez, chief marketing officer of FloridaPanhandle.com. This renovated one-bedroom cottage is listed for just $199,999 and this two-bedroom at $225,000. However, instead of looking forward to this phase of life, many women in Gen Z workers have made massive gains when it comes to contributing to their 401(k) plans. Brunswick is one of the best places to live in the state. Income diversification can help you set up a financially secure retirement. Where to stay: Stunning Renovated Direct Beachfront. on this page is accurate as of the posting date; however, some of our partner offers may have expired. The community is also a suburb of Baltimore. Why It's Great:If you love white-sand beaches and warm, turquoise waters, thats what youll find in Mahahual, says Haskins. However, the reason why cost of living is so low is because of unpredictable hurricanes, an industrial landscape and summer weather, which can be unbearably hot and humid. You may also like: 50 best beach towns to live in. There are plenty of beaches around the world (some even in the U.S.) that allow you to live your most stress-free life possible for a fraction of the cost you do now. Where It's Located:A former fishing village, Chelem is located on Mexicos Gulf Coast, about a 40-minute drive from the city ofMrida(which was just named by Best Small City in the World by Conde Nast Traveler). Brian O'Connell and Emily BrandonApril 20, 2023. Gozo is a separate island with many beautiful rock formations off the coast of Malta. It is safe, with a strong sense of community and an excellent medical system. Living near the beach has been your dream for years. In fact, the Sunshine States shorelines arent the only coastal ZIP codes attracting boomersplenty of folks dont want to live in what feels like a steam room six months out of the year, or they may want to be closer to friends and family elsewhere in the country. Express your gratitude and appreciation by picking out a retirement gift for a colleague. The historic city boasts a vibrant downtown with shops and restaurants, 15 recreational parks (including a golf course), and waterfront views from both the mainland and the peninsula across the water. Shocker, right? Freeport's coastal waterways are teeming with fish, so you can imagine that fishing is one of the biggest draws to this part of the country. Several barrier islands separate the Sarasota Bay from the Gulf of Mexico. Specifically, she specializes in budgeting, debt repayment, savings and retirement. Baja California, Acapulco, Cancun, Puerto Vallarta, Rosarita, and La Paz are a few well-known beach areas, and quiet fishing villages might attract retirees with lower costs and casual atmospheres. There are also many retirement communities in the area, says Andrew Latenko, RV travel blogger at RV Camp Gear. The Qualified Retired Person Residency Program, an easy way to establish residency, requires income of at least $24,000 annually along with a background and medical check. Lifes a beach, right? No matter where in the world you live, there is no doubt a great beach retirement destination not too far from where you that wont leave you feeling too far away from your family and friends, and will no doubt open doors for new friendships and the opportunity to meet like-minded people. Median rent: $1,296. The last few years have been financially challenging for many Americans, the pandemic took an economic toll on many, and inflation as well as rising rates are continuing to hurt wallets. Whether youre looking for a place thats quiet and relaxing or a place to catch some waves, Massachusetts has the perfect beach for you. Shop Pay is an innovative payment solution developed by Shopify. April 24, 2023, at 2:09 p.m. Are you thinking of a sunny, cheap cost of living and easy life for your retirement? Penang, Malaysia. The cost of living is low, and there are residency options for retirees requiring a monthly income of at least $600. It costs a median of $1,694 per month to own a home with a mortgage in Portland, and renters pay a median of $1,115 monthly. Learn how to maximize your Social Security income using an optimal claiming strategy. 2 . #25. All information is accurate as of March 21, 2023 and is subject to change. The mild weather, coastal scenery, good airport, and myriad amenities have made Murrells Inlet a desirable retirement destination for Northeasterners seeking a break from high tax rates and harsh winters. Haskins hails from the Midwest, where she spent nearly 25 years working in corporate advertising and marketing. The Costa Dorada could be the most naturally stunning part of the island, with forested mountains rising behind the white-sand beaches, and also the most affordable. If it's racing season or Spring Break, forget about it. The reasonable housing costs make it easy to retire near the water. And while the island itself is surrounded by waterways, it's not directly on the beach, which is what keeps the cost of living lower than other beach towns. Portugal is a popular retirement destination because of its amazing weather and 1,114 miles of coastline. The town is home to the Florida Institute of Technology and is only 30 miles east of Orlando, which means that residents have both beach vibes as well as the conveniences of a college town and a major city. And homeowners will spend an average of $808 in housing costs each month. The town is also much quieter than other towns along Mississippi's Gulf Coast. There are plenty of options for nature lovers, and with English being commonly spoken, this is a fabulous destination for retirement. Its an app that people can use just like a regular wallet to store their card details and information. Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. Plus, Melbourne is across the bay from the barrier island that has the more famous Cocoa Beach. A historic downtown has blocks of buildings from the early 20th century as well as The Freeport Historical Museum. Today, what brings visitors to Port Arthur are the history, wildlife and beaches. Sarasota's picturesque beaches, including Lido Key and Siesta Key, draw many visitors and retirees to the area. Avoid common errors with a Roth IRA that could lead to fees and losses. Yes! Here are seven of the nation's best 55+ communities near a beach. Best Parent Student Loans: Parent PLUS and Private, Halifax Health Medical Center of Daytona Beach. Coronado is a 32-mile island across the bridge from San Diego. Welcome to Coastal Dream Life, a website dedicated to helping you achieve your dreams of white sandy beaches and fresh ocean breezes in style. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). And for many, life by the beach is that ideal. Located on Florida's Atlantic Coast, cars can be driven onto some of the hard-packed sandy beaches. It's a suburban environment with a lot of bars, restaurants and parks. How Financial Literacy Changes Once You're Retired. The city sits on a barrier island in the Gulf of Mexico, with sprawling beaches (though not necessarily the best in Texas), lively nightlife and a non-stop energy that keeps the Texas Southern students coming in. Add to this the sentimental nostalgia that many people have of summer family vacations to the beach, and its easy to see why there are sunny recollections of happy times, making such destinations ever more attractive. And locals are willing to fork over that kind of money for a reason. These offers do not represent all available deposit, investment, loan or credit products. Lisbon, Portugal. Myrtle Beach has a wide variety of golf courses, including designs by Robert Trent Jones and Jack Nicklaus. Average income for population 65+: $70,291. Canggu is an eclectic mix of modern lifestyle with traditional Balinese culture. Tucked between Vero Beach and Port St. Lucie, Fort Pierce is located on the bay behind the Atlantic-facing Hutchinson Island. To come up with this list, our data experts looked at more than 1,300 towns on the water, pulled off the places that are located on lakes or riversthis list is all about tasting the salt in the ocean breezeand cut the selections to one place per state, for a wider variety of options. Volcanic rock mainly covers the, Read More Are There Sandy Beaches On Capri?Continue, It can be challenging to decide between Capri or Anacapri. Social Security: No Matter Your Age, Do Not Claim Benefits Until You Reach This Milestone. As a Retired Person, Are You Comfortable With Your Monthly Income? Its a popular gay retirement community, says Russell Stucki, real estate associate at Re/Max Realty Group. But it does come with a tradeoff the weather. According to Live and Invest Overseas, an organization dedicated to providing information to businesses moving abroad, a couple can comfortably rent an apartment in Ljubljana for about $720 a month. Consider these tips when purchasing real estate in another country. Wilmington Island has a unique position situated quite literally between the best of both worlds. Still accessible to the world and with ample beaches and islands to explore for those wanting variety, this is one of the less developed, quieter destinations, an appealing characteristic for many retirees. In addition to the obvious waterfront activities, Gulf Shores is close to many restaurants and bars, shopping and the wharf in nearby Orange Beach. Ocean Springs is a Gulf community with a small population of less than 18,000 and a median age of around 40. Sign up for our daily newsletter for the latest financial news and trending topics. It takes 15 minutes to get to everything Myrtle Beach has to offer without having to worry about traffic and stuff.. However, it's also saddled with the highest cost of living in the top 20, running nearly 10% above national averages. The city of Puerto. Median list price: $249,950. Maine's most populous city has four distinct seasons with warm summers and cold, snowy winters. Buyers looking for a deal can get into a one-bedroomhome starting around $125,000 or even a four-bedroom right next to the water for $349,000. And as they shift into retirement mode,many are migrating toward the beach. And now that the coronavirus pandemic makes it unwise to socialize except at a distance, its more important than ever to be able to settle into a forever home where youre free to enjoy the fresh air, long walks on the beach, and the soothing sound of crashing waves. The town is popular because of its beach location and plenty of outdoor activities, but it lacks arts and culture and is fairly isolated when it comes to having other things to do. The Cost:In Chelem, a four-bedroom, two-bathroom home with a pool one block from the ocean rents for about $600 a month. The small towns on this list are some of the greatest beach towns on the East Coast. Not only is it a quaint town full of history, beach restaurants and uncrowded beaches, but it's also quite affordable to live. Vietnam offers one of the lowest costs of living in the world. Hoi An has mountainous surrounds on one side and some of the most beautiful, undisturbed pieces of beach within a stones throw. A retirement haven, Venice, Florida, has a population of just over 26,000 61% are age 65 and up. While that might rule out a comfortable life in expensive beach towns like Naples, Florida, and Hilton Head, South Carolina, that doesn't mean life by the ocean is out of reach for the average retiree. But one of the reasons it remains relatively affordable is that its winters can be windy and rainy. So what makes a place attractive to retire in? One of the richest histories in western civilization and one of the most affordable European residency programs means this is an excellent option for this part of the world. A suburb of Baltimore, Middle River has a cost of living that is slightly higher than the national average but less expensive than Maryland's average. The city is a UNESCO world heritage site, and the monthly cost of living can be as low as between $500-1000. Mahahual has a hip-but-rustic feel, says Haskins. Located in the Mediterranean, with vineyards, dramatic cliffs, old forts, and charming fishing villages, the island as a whole has a lot to offer. All the States That Don't Tax Social Security, Social Security: Whether You're 62, 65, 67 or 70, Here's Why Your Age Matters, Expert Says 'Silent Crisis' with Retirement Savings Looms Worldwide -- How To Act Now. Corfu has an abundance of natural environment, delicious local food, and friendly locals, with beaches, cliffs, and blue waters waiting to be explored. Good quality healthcare is available at reasonable prices, and public transportation in many cities makes a car unnecessary. Youre getting ready to retire, and you want to go to the beach possibly every day. Choose a minimalistic lifestyle, and a couple could retire here on as little as US$600 a month. With a population of just under 80,000 and a median age of 45, Melbourne is a smaller city with a young population. Holbox is one of the worlds best places to swim with whale sharks. The world's most affordable places to retire. Theres really just one town to speak of: Only a small area on the western end of the island has been developed. Almost everyone youll meet here is not local but has found their way here from somewhere else, giving this an international vibe. This lifelong build-up can leave one feeling like theres a lot of pressure to do retirement right: to pick the right place to retire, the right hobbies, surrounded by the right people. Myrtle Beach, SC, is one of the nation's most affordable beach towns. The unusual quartz sand at Siesta Beach is soft, white and powdery, and stays cool to the touch, even on sunny days. But it turns out, your beach-town dream may not be as far out of reach as you think. Where to stay: Margaritaville Beach Hotel. Cookies collect information about your preferences and your device and are used to make the site work as you expect it to, to understand how you interact with the site, and to show advertisements that are targeted to your interests. Over a third of the population is age 60 or older. People love to live here because of the beautiful beaches, the winter climate and the entertainment. Well connected to the USA and the rest of the world, many expat communities in Mexico will leave you feeling like its a home away from home. Coos Bay is an adventurer's paradise, with bays, rivers, lakes and Oregon's famous dunes waiting to be explored. Retirees with a mortgage pay a median of $1,563 per month for housing. The small town of Freeport has just over 12,000 residents and a median age of 27 years old. Note: We may earn money from affiliate partners if you buy through links on our site. But Daytona Beach has 23 miles of wide, hard-packed sand that allows for myriad activities, from beach sports to beach driving. Artists, creatives and certainly a lot of hemp aficionados, flock for the dramatic coastal views and an eclectic waterfront. The low cost of living makes it affordable for retirees to live near the beach permanently. Most retirees opt for the private health care system where costs are low and quality is high. Retirees look for affordable communities where they can fill their time with purposeful activities and social connections, keys to a long, healthy life, says Hale. With warm temperatures all year, an abundance of beaches to explore, and a lower cost of living, Mexico is an attractive retirement option while still familiar with many US brands. If you're looking for a cheap place to retire near the beach, consider Daytona Beach. The 7 most affordable beach towns that you can retire to are: Hobe Sound, Florida. The easy visa system is a further bonus, making this an accessible option for most nationalities. With borders on the Gulf of Mexico in the east and the Pacific Ocean in the west, Mexico offers around 6,000 miles of coastline. You cant even touch these prices in the Riviera Maya, says Haskins. With sublime beaches and a well-established expat community (20% of the islands permanent population), Phuket offers pristine beaches and a warm, tropical climate. People enjoy it.. A cool $165,000 can get you into this three-bedroom house with a sweet front porch in the South Hill neighborhood. From Spring Break to NASCAR, Daytona Beach can be a wild time. The Best Places to Retire Overseas. The Cost:Because it is not as discovered as the Riviera Maya nor does it have nearly as many amenities (any major shopping or healthcare needs are done in the town of Chetumal, an hour away) prices for real estate are much lower than youll find along the Riviera Maya, says Haskins. Homeowners can look at the bay from their two-bedroom bungalow for just $169,000 or smell the salt air in a grand four-bedroom Dutch Colonial in the heart of town for a cool $649,000. The cost of living in Port Angeles is more expensive than the national average but is less expensive than other places in the state of Washington. For an additional $20,0000, this three-bedroom ranch is available in the Oakwoods. But a remote beach area isn't always the right fit for retirees, who also need access to amenities and services, such as quality health care and transportation options. Many locals also take whale watching tours by boat, view masterpieces at Coos Art Museum, swing a 9-iron, or watch the pros play golf at the Bandon Dunes Resort, home to the Curtis Cup. Indonesia offers not only many small islands to explore, with a tropical climate and breath-taking beaches, but also a retirement visa that makes moving there a real possibility. Croatia offers good and affordable healthcare, with low living costs and a relatively easy point of entry visa-wise. If you decide to make this 121km 2 island your home, you won't just have beaches on your doorstep, but rainforests to trek, temples to discover, and lots of food . Located on the Gulf of Mexico, the city offers plenty of entertainment, including concerts in the park, festivals and community theater. Sarasota is a great choice for retirees who want warm weather, beautiful beaches and a wide range of cultural and recreational activities. You save for retirement your whole life, you work, at some point, only knowing that you can retire and wont keep having to work, so it feels like, in some ways, its what you work towards for much of your life. Summer is much livelier, with outdoor activities, like music, golf and farmers markets. Jacksonville boasts 22 miles of white-sand beaches along the Atlantic coast. A beach destination in California that is affordable? Even for those just planning to escape the coldest months of the year in a sunny beach destination, consider the visa requirements that may be necessary for longer-term home rentals.
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