retiring in north carolina pros and cons
if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[336,280],'retirefearless_com-box-4','ezslot_5',111,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-box-4-0'); When moving to a new state, especially with the purpose of living out your retirement years, there are more than a few things to consider. Pros of living in North Carolina 1. The Friendly Community Feeling #6. How much money do you need to retire in North Carolina? Do you enjoy the resources RetireGuide provides? North Carolina offers mild weather and beautiful seasons while also keeping older adults closer to the communities they came from, offering a more pleasing retirement life. The state averages homeowners pay 0.85% of property value. So what does that mean for you? Pros & Cons of Living in Asheville North Carolina. Is South Carolina or North Carolina better for retirement? Raleigh, the state capital, could also be a suitable retirement destination that includes many big city offerings without quite as much activity as Charlotte. Here are 10 pros and cons of living in North Carolina to consider before making this state your home. In cities such as Charlotte or Raleigh, temperatures during winters rarely drop lower than 35 F. North Carolinas summers are also temperature, even though the temperatures do rise above 90F at times. The hurricane season hits North Carolina from June to November. 890 Words; 4 Pages; Open Document. One of the benefits of retiring in North Carolina is that the state offers tax breaks for seniors. In addition to the stunning scenery, the state has many parks and trails for retirees to enjoy. It wont come easy (Ill touch on this shortly as well). Miles of sandy shoreline mark the spot where our lovely state ends and the Atlantic Ocean begins. And the next 10 years are predicted to bring even more growth. During this time of the year, you must be very careful and mindful in case the state authorities issue any alerts. , both states ranked in the top five for net migration of people aged 60 and older. 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 Usually, there are two options to steer clear of hurricane damage. IBM WatsonHealth named it a Top 50 cardiovascular . Update your browser for more security, speed and compatibility. You never know when the threat will come to fruition so youll want to be prepared. The state is home to some of the best hospitals in the country, including Duke University Hospital and Wake Forest Baptist Medical Center. As you think about it, the state does have a lot to love for retirement. You'll need to buy an automobile to get the most out of living in North Carolina. You can just as easily find a charming apartment in the city or a farmstead, if you so choose. Retrieved from, U.S. News & World Report. Cities such as Raleigh and Charlotte have a public transportation system, but they lack the convenience that other cities, such as Chicago or New York, offer. Regardless of your preference, both city and rural life have an overall laid-back quality about them that I havent seen in other places Ive lived. The access to nature and plethora of outdoor recreational is hard to beat. The answer is yes, between the affordable housing market, low cost of living and unmistakable southern hospitality, living in North Carolina is living life on easy mode. Residents could spend years exploring the state's caverns, gorges, and state parks, but retirees will need to plan their excursions for the summer months before the . Whether youve longed to live by an ocean view or in a town surrounded by towering mountains, North Carolina is the ideal state for you! However, it taxes public and private pension incomes, 401(k), IRA, and other retirement accounts at an income tax rate of 5.25%. North Carolina's property tax rates are relatively low in comparison to those of other states. This could include having an evacuation route and plan and supplies to ride out the storm. A website run by locals in various cities, with the hopes of making big life decisions a little easier on you. Happiness in retirement is the main goal, and having the right information allows us (and you) to achieve that. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Sign up for helpful guides, interesting topics, and tips from locals. North Carolina offers many advantages for older adults. Healthcare is a massive concern for those looking to move to another state, especially retirees. Moreover, there are also smaller university hospitals in the state that are nationally ranked. Retiring in North Carolina brings tax benefits, which means that the state considered pro-business, with a great outlook on jobs for seniors looking to start their own business or begin a second career. According to an article from Tax Foundation, the spending power of $100 in North Carolina is equal to $109.53. Come and see how Leisure Care communities are helping seniors rediscover (and sometimes reinvent) themselves. Get money-saving tips, hard-to-find info and tactics for a successful retirement in our. But thats not all there is to this wonder. The state is home to a handful of great cities, but most of the Tar Heel State is rural. But before I get some sassy remark, allow me to explain. Javascript must be enabled for the correct page display. Retrieved from, Missouri Economic Research and Information Center. Im not joking, the debate has become the subject of state legislation with bills being introduced over which of the two prominent BBQ styles should be deemed official. Retrieved from, Brandon, E. (2021, February 22). If you havent yet, you must ask yourself if retiring in North Carolina is a good option for you.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'retirefearless_com-medrectangle-3','ezslot_3',110,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-medrectangle-3-0'); The truth is that North Carolina is one of the most beautiful and fairly reasonable states in the United States. Summers in North Carolina are the worst. This can be attributed to a number of factors, including a lack of providers, transportation issues, and a lack of insurance. The Appalachian Mountains form most of North Carolinas territory, providing the state with. In cities like Charlotte and Raleigh, the winter lows rarely dip under 35F. As far as overall health in the state, the United Health Foundation ranks North Carolina 33rd nationally in 2021. Today, we're going to highlight 7 of the best places to retire in North Carolina. Everything is a lot cheaper here, especially when it comes to housing. Thats lower than every bordering state except Tennessee. Retrieved March 4, 2023, from https://www.retireguide.com/retirement-life-leisure/best-and-worst-states-to-retire/north-carolina/. However, after moving to Carolina and making the adjustment, this is one of my personal favorite perks of living in North Carolina. This site also participates in other affiliate programs such as CJ, ClickBank and more, and is compensated for referring traffic and business to these companies. 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 first option is to live inland as the worst effects of the hurricane can impact you in the mountains, while the other option is to buy an insurance plan that covers all aspects of hurricane damage. Simmons, C. (2023, February 20). Theres two types of BBQ (Eastern style and Lexington style) and the topic of the best is hotly debated. Most weekends can be spend hiking, biking, fishing, swimming or hunting. For anyone who is looking for housing for themselves or a loved one who is a senior citizen, North Carolina has many options to choose from. By 2026, the individual income tax will drop to 3.99%. Contact us today to get started. If you're over 65, you can exempt up to $35,000 of your retirement income from state taxes. Even though this isnt true for the entire state, the most populous places do experience a fairly temperate climate. The Appalachian Mountains have a strong folk art and music tradition. The state has coastlines, mountains, and distinct regions that offer a variety of activities for retirees. According to the U.S. News and World Report, Charlotte is viewed as an excellent retirement destination. The cost of living index for Myrtle Beach is 93, which means that it's 7 percent cheaper than the national average. Although the cost of senior living may seem daunting at first, a second glance may reveal something different. Still, its worth pointing out, especially for those looking to grow their careers after moving to North Carolina. All this to say, both the outdoor recreation and road trip possibilities are endless while living in North Carolina. According to WRAL, there are also several small mountain towns scattered throughout the state that can also appeal to retirees. As for my favorite BBQ joint? Retrieved from, U.S. News & World Report. Get money-saving tips, hard-to-find info and tactics for a successful retirement in our free weekly newsletter. Hurricanes in North Carolina are accompanied by intense winds and unpredictable weather patterns that can cause flooding and severely damage your home. If you need help pricing and building your medicare plan, call us at 844-572-0696. Youre probably not surprised to learn that affordable housing plays the largest role in the low cost of living in North Carolina. North Carolina offers a relatively temperate climate to enjoy. North Carolina maintains seasons but doesnt suffer from the same regularly severe weather as northern states. For full transparency, we clearly identify our sources in a list at the bottom of each page. However, as required by the new California Consumer Privacy Act (CCPA), you may record your preference to view or remove your personal information by completing the form below. However, European countries had beforehand . Pros of retiring in North Carolina Beautiful scenery Diversity in locations Low cost of living And the state has the added benefit of generally affordable housing and a low cost of living, even within the cities. Well, if youre moving to North Carolina with kids in tow then you will want to budget private education into your cost of living in North Carolina. As with other retirement communities, it also offers a variety of differently styled homes and ways to live in retirement. Indeed, its hard to find yourself bored after moving to North Carolina, as most of your free time can be spent outdoors. The answer is yes, between the affordable housing market, low cost of living and unmistakable southern hospitality, living in North Carolina is living life on easy mode. However, it does so at a reduced rate, with almost 2% on most food. 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. However, its important to remember that the cost of living varies from state to state. It was also named the top hospital in the state by Business North Carolina in 2017, 2018, and 2019. As the younger population flocks to the more happening and exciting states, they often miss out on the beauty that is NC. However, that doesnt mean that crime in the state is non-existent. You may be surprised to learn that the home of Duke University and University of North Carolina at Chapel Hill might value public education enough to fund it, but no dice. North Carolina is the third most popular retirement destination. 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. Cmon now, my grubby little hands will never squeal! Read More. 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. Identifying a state with a low cost of living and still offers a vibrant post-retirement lifestyle can be difficult, but North Carolina checks both boxes. Decent Essays. The Tar Heel State offers exceptional opportunities for you to witness the beauty, from the Outer Banks to the Smoky Mountains. 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. Average daily temperatures hover around 40F-50F with nights dipping below freezing 28F-35F. With that being said, the low cost of living may be less relevant, depending on how much money you have for your retirement. Brevard. If youre a history enthusiast, you can explore the many museums at Beaufort or Cape Fear and get lost in the centuries of history. Dont hesitate to reach out with questions, Im here to help! The largest employers in the state are: Walmart, Duke University, Food Lion, Wells Fargo, Lowes and Bank of America. This climate diversity means that there's something for everyone regarding retiree weather. Home to a population of nearly 10.5 million, North Carolina is the 9th most populous state in the country. This post is for you. 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. But there are still notable drawbacks to retiring in North Carolina. You will need to invest in a car to get the most out of living in North Carolina. She has written copy for both digital and print pieces ranging from blogs, radio scripts and search ads to billboards, brochures, mailers and more. North Carolina experiences moderate temperatures in all four seasons. Even a carefully planned retirement lifestyle may come with unintended consequences. Contents1 Which county in NC has the lowest property taxes?2 Do you have to pay property taxes after 65 in NC?3 [] Historically, Virginia has had a reputation for wealth creation. Low Cost of Living 2. More so, to celebrate their states rich and abundant history, North Carolina actively funds and looks after the many museums and historical sites in the state. North Carolina may not be a state traditionally thought of when it comes to retirement, but its popularity is on the rise. North Carolina compensates for its affordable cost of living by putting a significant tax burden on its citizens. 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. 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. Resorts are spread throughout the mountains and many are open for skiing in the winter and hiking in the summer. Speaking of, heres a locals tip: Purchase these bad boys before moving to North Carolina. According to the NC Rural Health Research Program, people who live in rural areas often have to travel long distances for care. North Carolina ranks 19thamongst states with the highest per capita tax. Many folks are surprised to learn that North Carolina the 3rd most hurricane prone state in the country. It also has a lot to offer retirees, from big cities to tightknit mountain communities. Rapidly Increasing Economy. The job market in Raleigh is thriving right now. YOUR DREAM RETIREMENT ON YOUR BUDGET From traveling the world to exploring your own backyard, Leisure Care living is fun and easy. The cost of senior living in North Carolina is fairly consistent across the state, coming in at $3250 per month for assisted living care, below than the national average. North Carolina Retirement. Aging in America Rankings. The good thing is that they are more than willing to welcome newcomers with open arms. Both of those are key areas for seniors and certainly good news. [ See: The Best Places to Retire in 2022. ] 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. Whether or not you have access to healthcare programs, insurance, and good hospitals and doctors, is and should be a major factor to consider. Generally speaking, North Carolina offers more diversity in locations and scenery, from major cities and beaches to full-blown mountain ranges. In some places, such as Durham County, you may even have to pay sales tax at the rate of 7.50%. Pinehurst. And its true, kindness comes easily, but friendships are earned (and typically last longer, in my experience). Better with age, exceptional with us! Sauna-quality humidity (yay!). Williamston. The only downside to the easy going vibe is the lack of ambition you may come across from time to time. However, although higher than the national average, the murder rate in North Carolina is much lower than in South Carolina. Thats our promise. If you're considering retiring to North Carolina, it's important to research the health care options in the area you plan to live. Contents1 Is it cheaper to live in SC [] in advertising from the University of Illinois, Alissa has worked all over the world as a freelance communications strategist and writer. Partner the intense heat with the constant humidity and youll be begging for a shower before pulling out of the driveway. We love planning for retirement. One of the most important aspects to consider when buying a house is the quality of schools your Read More, North Carolina vs. Virginia: Which is the Better State? Social Security Income is exempt. Property tax rates are moderately high in North Carolina, but there is a senior discount that is quite significant. Once you have a good understanding of how much it costs to live on your own, you will have a more comprehensive understanding of the cost of senior living. Consider how much of your income is spent monthly on food, utilities, healthcare, house maintenance, and homeownership costs.
