Hi Marty,
It is very difficult to get work in Spain. Spanish people don't want to employ the English and wages are very very low. Yes the cost of living is lower than the UK but you need to think very carefully. If you wont have to get a mortgage then maybe you'll manage. I was a very highly paid IT Project Manager in the UK and the last job I applied for was for 4 Euros an hour!!
BUT money isn't everything and we love it here, there are a lot of spiritual people here, so if you want to give it a go, we have a property near Guardamar you may want to rent.