If you're considering retiring to the coastal region of North Carolina, it's important to have a plan in place in case of a hurricane. However, with your retirement nearing, you dont have to look past this wonderful state. Pros and Cons of Retiring in South Carolina The advantages of retiring in South Carolina include an affordable lifestyle where your money can go much farther than in many other parts of the country. Low Population 4. Indeed, its hard to find yourself bored after moving to North Carolina, as most of your free time can be spent outdoors. One of the reasons people retire to North Carolina is the stunning scenery. According to the U.S. News and World Report, Charlotte is viewed as an excellent retirement destination. If youre considering retiring in North Carolina but still require some convincing, Ive lined up more than a few reasons to help you make a decision.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[336,280],'retirefearless_com-banner-1','ezslot_8',112,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-banner-1-0'); If youve spent most of your life living and working in a metropolitan city, the best thing about retirement is the opportunity to pack up your life and move to a quiet place with majestic views. In addition, Social Security income is not taxed, and income taxes have been lowered to a flat rate, to 4.9% in 2022. South Carolina, a state with plenty of history and marshland was actually not discovered until a while after North America had been founded. This could include having an evacuation route and plan and supplies to ride out the storm. As a mid-sized city of around 275,000 residents, Durham has all the excitement . Social Security Income is exempt. Just when you think summers in North Carolina cant get worse, youll experience the threat of a looming hurricane. 771 Words 4 Pages. In cities like Charlotte and Raleigh, the winter lows rarely dip under 35F. The fact is that every place you consider moving to will have its benefits and pitfalls; you will have to decide the factors that are important to you and the ones youre willing to look past. North Carolina Retirement. In fact. The coastal region is where you'll find the Outer Banks plus the miles of the Atlantic coastline. With lower than average rents, reasonably-priced food options, and free activities, retirees can save their dollars for other opportunities, such as traveling. According to the U.S. News and World Report, some of the best beaches and beach town options in North Carolina include Emerald Isle, Bald Head Island and Cape Hatteras. South Carolina Low Cost of Living. In fact, Virginia was colonized almost sixty years before South Carolina was. The Median income in North Carolina is about $56,000. In fact, there's a large contingent of residents called "half-backs," who spend winters in Florida and summers in the Carolina mountains. The states property tax rate stands at 0.77%, which means that a homeowner has to pay around $770 every year for every $100,000 in home value. True to form, locals focus on getting to know their neighbors and building a sense of community. It also has a lot to offer retirees, from big cities to tightknit mountain communities. The average cost of living was $38,295. The similarities end with the choice of meat (both use pork), from there the methods differ. 1.. Sorry there was an error. So heads up! Mission was ranked #6 in U.S. News and World Report's North Carolina hospital rankings. You never know when the threat will come to fruition so youll want to be prepared. Happiness in retirement is the main goal, and having the right information allows us (and you) to achieve that. We love planning for retirement. The Outer Banks' positioning on the east coast makes them more susceptible to direct hits or brushes from tropical storms that ride up the East Coast. So, if you move to North Carolina, youll be saving quite a bit on your monthly cost. It's somewhat of a hobby, and we want to share what we've learned with you. I lived in the Old North State for 12 years and have definitely learned a few things about daily life in North Carolina. All rights reserved. Five-star service. (n.d.). If you consider yourself a nature nut, you will love living in North Carolina. While those certainly exist, there are also major cities that could make for a fun and active retirement lifestyle. With that being said, the low cost of living may be less relevant, depending on how much money you have for your retirement. The Pros of Retiring in Georgia are: It is incredibly tax-friendly - As one of the most tax-friendly states, Georgia offers people over the age of 65 a $65,000 deduction per individual on retirement income outside of social security and up to $130,000 per couple. Unfortunately, North Carolina is located in an area susceptible to hurricanes. North Carolina is making headlines as an up and coming place to retire, even earning some retirees moving there the nickname, halfbacks as retirees from Florida move halfway back home to the mid-Atlantic and mid-South states. When evaluating the cost of senior living first think through your current expenses because so much of senior living is all-inclusive. As far as overall health in the state, the United Health Foundation ranks North Carolina 33rd nationally in 2021. This can take out a big chunk of your retirement savings. Unlike most other states, North Carolina taxes groceries. So what does that mean for you? A website run by locals in various cities, with the hopes of making big life decisions a little easier on you. This can be attributed to a number of factors, including a lack of providers, transportation issues, and a lack of insurance. With that said, after researching one too many US states with retirement potential, I decided to dig deeper into the hidden wonder that is North Carolina. First off, accommodation is the biggest expense that any states residents have to incur. As you think about it, the state does have a lot to love for retirement.The state's picturesque landscape,. Are you considering buying a house in the mountains of North Carolina but arent sure where Read More, 8 Best NC School Districts for Buying a House Still, its worth pointing out, especially for those looking to grow their careers after moving to North Carolina. The Tar Heel State offers exceptional opportunities for you to witness the beauty, from the Outer Banks to the Smoky Mountains. 5 Reasons to Consider Buying a House in Boone, NC Theyre non-negotiable in my book because they prevent things from molding overnight. Enter North Carolina, sweet North Carolina. Residents have over 200 state parks to explore, including Mount Rogers National Recreation Area and Great Smoky Mountains National Park. Update your browser for more security, speed and compatibility. North Carolina does have a low corporate tax rate, making it more business-friendly. Pros Quality healthcare. Pros of living in North Carolina 1. There's a reason why retiring in the southeast, for example, is such a popular choice: it's the perfect intersection of affordability, convenience, and climate that many retirees crave. Pros of Retiring in South Carolina Beautiful Landscapes Tax-Friendly Good Healthcare System Great Weather Numerous Outdoor Activities Southern Hospitality Convenient Transportation Historically Rich Low Crime Rates Free Education for Retirees Cons of Retiring in South Carolina High Cost of Living Too Much Construction Hurricanes Flood Alligators Forest City. A few of the most popular include the Riverfest Music Festival, the NC State Fair, and the Charlotte Folk Festival. While many of these trials are for hikers, you can also easily come across some excellent trails where you can enjoy horse riding or mountain biking.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'retirefearless_com-large-mobile-banner-2','ezslot_9',145,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-large-mobile-banner-2-0'); One of the most popular trails in the state is the Appalachian Trail. History buffs will be drawn to the states colonial heritage and its strong heritage that comes to life with interactive and time-honored memorials. (30) Living in North Carolina (99) Living in Ohio (11) . if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'retirefearless_com-mobile-leaderboard-1','ezslot_16',134,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-mobile-leaderboard-1-0');The hurricane season hits North Carolina from June to November. North Carolina compensates for its affordable cost of living by putting a significant tax burden on its citizens. However, the sales tax differs from county to county. The states property tax rate stands at 0.77%, which means that a homeowner has to pay around $770 every year for every $100,000 in home value. But North Carolina also displayed a high prevalence of food insecurity and people commonly avoiding seeking health care due to the cost. Speaking from personal experience, one of the best things about living in North Carolina is actually being able to enjoy life without feeling the pinch of irrational rent prices and overall high cost of living. Were you able to find the information you were looking for on RetireGuide.com? "North Carolina Retirement." On the flip side, NC has a high-than-usual crime rate, increased chances of hurricanes, higher taxation, and a poor transportation system. However, it taxes public and private pension incomes, 401(k), IRA, and other retirement accounts at an income tax rate of 5.25%. One of the downsides to living in Maine is the fact that the income tax and retirement income tax rate can be as high as 7.15%. You havent lived until youve tasted the irresistible temptation that is vinegar barbecue, its life-changing. Published in Forbes, Senior Finance Advisor, Alzheimers.net and on other leading senior care blogs, she leverages her working knowledge of the senior care industry with leading research and best practices to create engaging content benefitting seniors and their caregivers. She has written copy for both digital and print pieces ranging from blogs, radio scripts and search ads to billboards, brochures, mailers and more. As with other retirement communities, it also offers a variety of differently styled homes and ways to live in retirement. The hurricane season hits North Carolina from June to November. And the state has the added benefit of generally affordable housing and a low cost of living, even within the cities. North Carolina is certainly an interesting state. Moreover, there are also smaller university hospitals in the state that are nationally ranked. And often the most popular choice within the southeastern United States is a toss-up between North Carolina and South Carolina. Social Security is not taxed, but 401(k) and pension distributions are. In some places, such as Durham County, you may even have to pay sales tax at the rate of 7.50%. The board was formed to repeal a 1929 law that had been put in place to provide sterilization for persons that were feeble minded and mentally . One of the most significant disadvantages of retiring in North Carolina is a lack of public transportation. Small City . North Carolina offers a relatively temperate climate to enjoy. 2023 Retire Fearless. ; There are no social security taxes. But thats not all there is to this wonder. Posted by Preston Guyton on March 3, 2023 . [ See: The Best Places to Retire in 2022. ] Retiring in South Carolina Pros and Cons South Carolina has no shortage of things to do to stay outdoors and active. Over the years we've found the best ways to live, how to travel, take on new hobbies and give back. Decent Essays. Find a job before moving to North Carolina is vital (especially if you plan to live in the rural parts of the state). Mild Weather Year-Round #3. The Appalachian Mountains have a strong folk art and music tradition. With over 300 miles of barrier coastline and beaches, there are plenty of swimming, fishing, and boating opportunities. . There are plenty of opportunities for retirees to pursue academic study at the many universities located around the State. But I dont want to get ahead of myself, so lets cover everything you need to know about moving to North Carolina based on firsthand experience. The state is home to some of the best hospitals in the country, including Duke University Hospital and Wake Forest Baptist Medical Center. Another pro of retiring in North Carolina is excellent health care. . One option that stands out is Hendersonville. North Carolina compensates for its affordable cost of living by putting a significant tax burden on its citizens. and youll see what all the fuss is about. A coworker joked that North Carolinians are the best neighborhoods and acquaintances a person could have because respect is a second language. Please call us using the phone number listed on this page. Again, it's about researching the specific community you're interested in living in as many areas have low crime rates. Save my name, email, and website in this browser for the next time I comment. Theres something for everyone! For those who may be thinking about spending their retirement years in South Dakota, there are plenty of pros and cons to consider. Both of those are key areas for seniors and certainly good news. If youre a history enthusiast, you can explore the many museums at Beaufort or Cape Fear and get lost in the centuries of history.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'retirefearless_com-leader-1','ezslot_14',114,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-leader-1-0'); The true reality of a state can often be judged through its people, and if thats the case, then North Carolina truly is the most charming state in the US. All Rights Reserved. A popular getaway for beachcombers, the Outer Banks is ideal for climbing sand dunes, cruising the ocean, learn more about history, exploring nature, and more. In my experience, locals are very friendly, but theres a reserved nature about them. Truthfully speaking, the friendly community feel took some adjusting at first because Ive mostly lived in large cities where being greeted by name was deemed unusual. The answer really depends on what youre looking for in retirement since each state offers different benefits. It has an old town feel and is very affordable, giving older adults the chance to retire in a charming town with great scenery. Moreover, there are also smaller university hospitals in the state that are nationally ranked. Find many museums, including the North Carolina Museum of Art and the Asheville Art Museum. Around 14% percent of residents live in poverty, typically leading to increased criminal activity. The state has a moderate climate while still offering four distinct seasons. 4 Full Seasons Cons of Retiring in West Virginia 1. The average monthly rent for a 2-bedroom apartment in North Carolina is $825, which is much lower than in many other states. I think this is a normal human reaction to outsiders, but it takes a little while for folks to warm up and to make genuine friends after moving to North Carolina. District of Columbia costs $2,324 to rent.

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