Myth No. 3: Retirement means moving elsewhere

Just because you are going to retire doesn’t mean you have to move to Florida or to another place packed with seniors and with warm weather all year round. Although according to a Bankrate.com survey, 3 in 5 future retirees said they want to move someplace new, you can stay exactly where you are and enjoy retirement life in your hometown. You wouldn’t be the only one opting for aging in place.

According to a 2012 study from The Joint Center for Housing Studies of Harvard University, only 1.9 percent of 65- to 74-year-olds who lived in a home they owned had actually moved in the previous 12 months. If you do decide to spend your golden years somewhere else, here’s a list of Low-Cost Waterfront Places for a Perfect Retirement.