Sarasota has the white sand beaches and sparkling waters that many retirees dream of. The cost of …
Sarasota has the white sand beaches and sparkling waters that many retirees dream of. The cost of living is reasonable, which means that even retirees on a budget can consider moving to Sarasota. This Florida beach destination also offers the amenities retirees need, including nearby hospitals and work opportunities for those looking to make a small extra income in retirement.
Sarasota ranks # 1 in the U.S. as # 1 best place to retire to quality health care for the second year in a row in 2022. The ranking compared the 150 most populous metropolitan areas in the United States as potential retirement locations.
[See: The Best Places to Retire in 2022.]
Because of this, Sarasota is considered the best place to retire in the US in 2022.
A sought-after retirement on the beach
Many newcomers are initially drawn to the world-class beaches of Sarasota. Sarasota is located on the Gulf of Mexico and has miles of beaches that range from popular to remote. Siesta Key has a soft and powdery quartz sand that stays cool even on hot days.
“Sarasota offers many opportunities for an active, healthy lifestyle,” says Kathy Black, professor in the University of South Florida’s School of Aging Studies. “Lots of people love the natural outdoors – the sun, the sea and the award-winning beaches.”
But it’s not just the sea breeze and swaying palm trees that make Sarasota an attractive retreat. The area is also a haven for golf, art and culture and is home to many annual events, from the Sarasota Film Festival to the Sarasota Chalk Festival. There is even a unique building style, the Sarasota School of Architecture, which was developed in the region.
[SEE: The Best Beach Towns to Retire in the U.S.]
According to the Sharecare Community Well-Being Index, Sarasota residents report high levels of wellbeing. Sarasota locals say they like where they live, have supportive relationships and a manageable economy, Sharecare found.
You can find many other corporate retirees in this popular retirement location, where 40% of the population are 60 years or older, according to the Census Bureau. “There is a lot to be said for a place to live where older people have many opportunities to meet with their peers who share their values, stories and ways of life and yes, to complain about aging,” says Stephen Golant, Professor Emeritus from the University of Florida and author of “Aging in the Right Place”. “Older people considering living in Sarasota will have much less difficulty building a social network of supportive friends and acquaintances.”
Reasonable housing costs
Sarasota may not be the cheapest place to retire in Florida, but the reasonable housing costs allow retirees on a budget to retire near the beach. It costs an average of $ 1,531 per month to own a home on a mortgage in Sarasota. Renters pay a median of $ 1,209 per month.
The average home value for people 60 and older is $ 245,000, but there is a wide range of housing costs too, depending on the neighborhood you choose. “If you want to buy a home on the beach or downtown or in a top golf community, it’ll cost more, but if you’re just here you can find cheaper apartments,” said Laura Mattia, certified financial planner and CEO of Atlas Fiduciary Financial in Sarasota. “There is a wide variety of styles of life.”
[See: Retirement Spots With Year-Round Nice Weather.]
No state income tax in Florida
The state of Florida has no income tax. This means retirees don’t have to worry about paying state income tax on retirement or social security income or withdrawing from retirement accounts. Retirees who continue to work can also keep more of their income.
“It’s pretty common to see tax savings because Florida doesn’t levy income taxes. There is also no local income tax in Sarasota, ”says Angela Wetzig, certified financial planner and president of Sage wealth advice in Sarasota. “No state income tax is a great benefit for retirees. For most people, this leads to thousands more per year. ”
Test your new lifestyle in retirement
As with any move, it is important to test your new retirement goal before making the move permanent. “Spend time here before you retire. Sarasota, Venice, Bradenton, Lakewood Ranch and the surrounding area all have a different flair and lifestyle, ”said John Cunningham, certified financial planner for Reality Financial Planning Services in Sarasota. “It is important to know what is important to you and how you want to spend your time in retirement. This will help you make the best decision for you and your family. ”
More from US news
Best Places to Retire in 2022
10 Affordable Places to Retreat on the Water
The best places to retire in Florida
What Makes Sarasota the Best Place to Retire in 2022? originally appeared on usnews.com