Retirement in Sarasota and the Cultural Coast
Published on April 12, 2016
John Ringling Causeway connects downtown Sarasota to the keys, where wealthy, often famous, residents live nestled between Sarasota Bay and the Gulf beaches. Prime real estate can be found in northernmost Longboat Key, which has limited public beach access and boasts the Longboat Key Club & Resort where annual and seasonal memberships are available to nonresidents. Lido and Siesta offer large public beaches.
Sarasota is #2 on Livability’s list of best places to retire and near the top of AARP’s list (#4) of “best places to reinvent your life.” And, it comes in at #90 on CNN’s Top Best Places to Live. The high rankings can be chalked up to its mild sub-tropical climate. The area has gentle winters (average temperatures are 63°F), sun-drenched summers (average temperatures are 82°F), awesome sunsets and an abundance of activities.
Cost of Living
Retirees have a choice of living styles. For those who desire an apartment, plenty are available right downtown. Or, if you’d rather not be in the thick of it, there are many wonderful housing options in various neighborhoods in town. There are also homes on exclusive keys such as Longboat Key and Siesta Key, where towering apartment houses and huge mansions overlook the Gulf. Plus, Sarasota abounds with an enormous array of gated golf and active adult communities, which tend to be nearer the Interstate.
According to the National Association of Realtors, the median sales price of a home in the Sarasota/Bradenton/Venice area in 2015 was $236,400. Although the cost of living may be higher than in other parts of the United States, with balmy temperatures year-round there is no need to run the heat. Also, Florida has no state income tax making it attractive to retirees.
Fun and Cultural Stuff
Sarasota’s earliest pioneers arrived in the 1840s, drawn by the fishing and prospects of cattle and citrus farming. The sublime climate soon attracted wealthy wintertime residents like John and Mable Ringling of circus fame, who made the town their winter quarters. The Ringlings’ passion for collecting art is still evident in city landmarks, which include their bayside home, Cà d’Zan, and the John and Mable Ringling Museum of Art.With one of Florida’s best downtowns, Sarasota offers many appealing neighborhoods, an impressive array of cultural facilities and high-rise, luxury hotels. One of Sarasota’s top attractions—St. Armand’s Circle—sits at the end of the John Ringling Causeway. This lovely circle is surrounded by fine dining, shopping, and high-end housing.
Sarasota has 35 miles of sandy beach for swimming and boating; and plenty of artistic activities, like the Sarasota Ballet, Sarasota Opera, The Players and numerous other musical, dance, artistic, and theatrical venues. The Cincinnati Reds hold spring training here; the legendary golf champion Bobby Jones laid out the city golf course; and many buildings are listed on the National Register of Historic Places.
April brings the Sarasota Film Festival to the area, which offers hundreds of diverse films and draws some of the most acclaimed and burgeoning actors, directors, screenwriters, and musicians of our time.
Sarasota has an enviable supply of doctors and medical resources. Sarasota Memorial Hospital, Healthsouth Rehab Hospital of Sarasota and Doctors Hospital of Sarasota are all located here and provide excellent health care.
Investing in Real Estate
Many knowledgeable investors already know that investing in real estate using self-directed IRAs can be a lucrative way to build retirement wealth. In fact, real estate is the most popular asset class in these plans. As a self-directed investor, you may choose to invest in vacation property in the Sarasota/Bradenton area to create rental income now and build up your retirement savings, and distribute your investment later so that you and your family may enjoy the home.
Regardless of where you make that real estate investment through your self-directed IRA, you will be on your way to making sure your retirement dreams are bright and sunny. Want to know more? Contact our helpful self-direction professionals with your questions at (888)857-8058 or Info@NextGenerationTrust.com; or go directly to our Starter Kits to open an account today.