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Retirement dreams often look like this: a warm, sunny place where you are free not only from the responsibilities of work, but also from shoveling snow and dealing with the cold. But when your retirement budget becomes a reality, that dream may seem far-fetched.
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However, there are places where you can drop $1,500 a month and enjoy summer-like weather year-round. Here’s what you need to know.
Crystal River, Florida
Florida is a popular retirement destination, but many cities are outside the $1,500 budget. However, Crystal River ranks 206 out of 250 cities in Florida for cost of living, and is 15% below the national average, according to the Center for Economic Research. The median home price is just $290,000. The Sunshine State has no state income tax.
Temperatures in Crystal River range from 45 to 90 degrees Fahrenheit during the summer. Winters are mild, spring and fall are warm, but summers can be hot and humid, according to WeatherSpark.
Crystal River has many activities for retirees, including golfing, kayaking and fishing. The city is known as the manatee capital of the world, and you can swim close to these gentle creatures in the crystal clear waters of the Crystal River.
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Corpus Christi, Texas
According to Apartments.com, the average rent in Corpus Christi is $1,008 per month, and the median home price is $197,100, according to the Center for Economic Research. The cost of living is 8% below the national average. Texas, like Florida, does not have a state income tax.
The climate in Corpus Christi is warm and comfortable most of the year, although it is hot and humid in the summer. Temperatures range from 50 degrees Fahrenheit in the winter to about 94 degrees in the summer.
Corpus Christi has many beaches and parks for many recreational activities such as swimming, boating and fishing. The city also has eight major centers that offer programs such as Tai Chi, yoga, table tennis, arts and crafts, and more, while promoting community and community for retirees.
Pensacola, Florida
Pensacola is another Florida coastal community with a low cost of living that makes it attractive to retirees.
It ranks 233 out of 250 cities in Florida, with a cost of living 19% below the state average, according to the Center for Economic Research. Rental prices can put you over the budget, with the average studio costing $1,150 a month, according to Zillow. But if you own your home, Pensacola is affordable, and the state income tax will help.
Because Pensacola is located in the Florida panhandle, the climate is somewhat milder than other southern Florida cities. The temperature is between 45 and 89 degrees Fahrenheit. Winters are cool, spring and fall are mild, and summers can be hot and humid.
Pensacola has many activities for retirees, including beaches along the Gulf of Mexico, museums and an active restaurant and nightlife scene. Pensacola is home to the US Navy Flight Demonstration Squadron, known as the Blue Angels, and you can watch them practice in the skies over Pensacola every weekend from March through November.
Bocas del Toro, Panama
Bocas del Toro is located in the western part of Panama, near the border with Costa Rica. Part of the city is in Panamanian territory, and the other part is made up of islands.
Beautiful Caribbean beaches and lush forests are here, so the weather is not always hot, but most days will see a sunny day followed by rain in the afternoon. According to International Living, rent can be as low as $600 a month or more, leaving plenty of room in your $1,500 budget.
Bocas del Toro’s temperature is fairly consistent year-round, ranging from 73 to 86 degrees Fahrenheit, according to WeatherSpark. Summer is hot and humid, while spring is warm. Most of the rain falls between June and November.
Merida, Mexico
Mérida is located along the northern coast of the Yucatan Peninsula, south of the Gulf of Mexico. The city has a rich history and cultural heritage, and beautiful architecture. Renting a large apartment can be as little as $550 a month, making it easy to stay within a $1,500 budget.
Mérida’s temperature ranges from 65 degrees Fahrenheit in the winter to 97 degrees Fahrenheit in the summer. Winter, spring and fall are hot, while summer can be oppressive. Most of the annual rainfall occurs between June and October.
It’s not an impossible task to find a summer vacation rental for $1,500 a month, but you’ll need to choose carefully. Starting with some of these cities will get you going.
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This article appeared on GOBankingRates.com: 5 Cities Where You Can Quit Your Job for $1,500 a Month and Enjoy Summer Year Round.
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