Greetings, MarketWatch! I’m 66 years old, unmarried, and planning to retire soon. I’m now residing in Connecticut, where taxes are fairly high, and I’m looking for a region that is both less expensive and warmer. I have roughly $900,000 in cash assets and another $200,000 in home equity (but I might want to keep the house for rental income). I’d prefer Social Security, which pays roughly $26,300 per year, to be my primary source of retirement income.

I want to travel, so I don’t want to spend a lot of money on housing, and I’d want to live in a little town that’s only 30 minutes from the Atlantic Ocean. I’d also want a place that is within two hours of an international airport by automobile. A college or university, as well as a mixed population, including retirees, would be ideal. Do you have any brilliant suggestions? Thank you very much. MAM ————————————————————————————————————————— Greetings, MAM You’re part of a nationwide trend: people fleeing the Northeast for lower living costs and warmer weather, many of them to the South. While the South has its drawbacks, such as hot summers, you’ll discover a lower cost of living, relatively warm weather for several months of the year, and abundance of wonderful food and culture. However, living entirely on Social Security may be difficult – at least if you want to live in a captivating city near the shore. However, if you have a rental income from your property, you should be able to do so while still spending some of your money for vacation. With that in mind, below are several reasonably priced beachfront properties that should suit the majority of your requirements. Palm Coast is a city in the state of Florida.

A handful of barriers along a beach near Palm Coast, Florida.

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Between St. Augustine and Daytona Beach, this off-the-beaten-path Florida retirement destination — which stands on 70 miles of canals and the Intracoastal Waterway — demonstrates that “Florida can still be an affordable place to live,” according to Annette Fuller, editor of Where to Retire magazine. The cost of living is about average in the United States. According to Sperling’s Best Places, median homes in Palm Coast cost roughly $215,000 (with property taxes that are cheaper than the national average), and the median rent for a one-bedroom apartment is under $1,000. (Fuller adds that the area has “a lot of active-adult housing.”) Another advantage of living in Florida is that you won’t have to pay income tax. Residents go to the area for the Atlantic beaches, but there are plenty of outdoor activities in Palm Coast, including “tennis, golf, pickleball, and even croquet,” according to Fuller. There are over 125 miles of walking and bike pathways in Palm Coast, as well as fishing and boating. Also popular is bird watching, particularly at St. Joe Walkway and Linear Park. People who live near the water are often happy than those who do not. Other items to cross off your to-do list include: There are plenty of other retirees here, and driving to Daytona International Airport takes just over half an hour. Now for the drawbacks: Summers are hot and humid, storms are a possibility, and some locals grumble about the area’s rapid urbanization and sprawl. Plus, if you want to save even more money, there are less expensive spots to retire in Florida (especially if you’re willing to look inland). According to the numbers: 82,350 people live here. 45°F/90°F in January; 45°F/90°F in July Sperling’s Best Places is the source of this information. —————————————————————————————————————— Summerville, South Carolina

Summerville, South Carolina citizens are drawn to nearby Charleston.

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This small city about 25 miles from Charleston was recently named to Forbes’ list of the best locations to retire, citing its warm winters, above-average air quality, low rate of severe crimes, and “adequate physicians per population.” Furthermore, it is cost-effective: According to Forbes, the cost of living in South Carolina is “at national average,” and Social Security income is not taxed. A median home costs around $215,000, with property taxes that are lower than the national average. A one-bedroom apartment costs less than $1,000 per month on average. Summerville is known for its lush vegetation. Beautiful azaleas and towering trees adorn the streets. It’s also full in history, with a section of town listed on the National Register of Historic Places. And there’s a lot of that Southern flavor in there: Summerville is credited with being the origin of sweet tea, and Southern Living recently noted, “The best two spots in the world to have sweet tea this summer are: 1. your front porch; and 2. Summerville, South Carolina.” You’re also close to Charleston, which is known for its great food and vibrant culture, as well as having an international airport and being a college town. The most significant disadvantage for you may be that you are a little more than a half-hour away from the popular Atlantic Ocean beaches (for example, Folly Beach is about a 45-minute drive from Summerville). However, Summerville’s closeness to Charleston and relative affordability may compensate for this. According to the numbers: 49,000 people live here. 35°F/90°F in January; 35°F/90°F in July Sperling’s Best Places is the source of this information. ——————————————————————————————————————— Brunswick, Georgia

A residence in Brunswick.

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While the so-called Golden Isles (St. Simons, Jekyll Island, and Sea Island) receive the majority of the attention in the area, Brunswick — the mainland gateway to those islands — provides access to their wonderful beaches at a fraction of the cost. The cost of living is much lower than the national average, with the median home costing less than $140,000. Georgia’s state income tax does not apply to Social Security income. Downtown Brunswick is recognized for its old Victorian-era architecture (the National Trust for Historic Preservation dubbed it a Main Street City) and boasts over a dozen historic squares. In this town of 16,000 people, you’ll also discover a mix of local businesses, art galleries, restaurants, and more, as well as performances at the historic Ritz Theatre. Because Brunswick is bordered by saltwater marshes, outdoor activities like as bird viewing are popular. The Golden Isles are also known for its golf courses and miles of beaches. The Golden Isles also have a distinct air, according to Travel & Leisure, with a “mix of formality and down-home ease.” “Unlike typical touristic East Coach beach communities, Georgia’s Brunswick and the Golden Isles are more sedate, with a focus on preservation,” according to Where to Retire magazine, which selected Brunswick/Golden Isles among its where-to-retire recommendations. Brunswick is also a college town with the College of Coastal Georgia; it’s about an hour from Jacksonville, Fla., which has an international airport; and it has a hospital (the Southeast Georgia Health System). One disadvantage is that crime is greater than normal in this location (though there are statistically safer neighborhoods and towns in the area to live in, as you can see from this map). According to the numbers: 16,000 people live here. Low in January/high in July: 42°F/91°F Sperling’s Best Place is the source of this information.
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