North Carolinas crime rate almost matches the national average. What this means for you: Anytime you hear mention of a possible hurricane, make a beeline for the grocery store and stock up on essentials. Many folks are surprised to learn that North Carolina the 3rd most hurricane prone state in the country. For those who may be thinking about spending their retirement years in South Dakota, there are plenty of pros and cons to consider. If youre moving to North Carolina with the hopes of escaping the grind and bustle of daily living, youll find reprieve. 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. 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 Mild Weather Year-Round #3. It was also named the top hospital in the state by Business North Carolina in 2017, 2018, and 2019. However, the sales tax differs from county to county. (n.d.). If youre hoping to stay in touch with civilization in retirement, this city offers everything from a great culture to major sports teams and events while still giving you the chance to experience seasonal weather with mountain ranges and nature activities nearby. It may seem like all of this comes at a cost, but North Carolina actually has a lower cost of living than the national average. This includes looking into hospitals, clinics, and doctors in the area. Healthcare is a massive concern for those looking to move to another state, especially retirees. Plenty of Outdoor Activities 3. The state is also far from just mountain ranges and includes some vibrant, fast-growing metropolises. I was fortunate enough to keep my teleworking job while living in North Carolina, so I didnt experience the challenges of find a job firsthand. Lamia Chowdhury is a financial content editor for RetireGuide and has over three years of marketing experience in the finance industry. 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. 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. Our communities are located across the United States and offer a range of senior living services including independent living, assisted living, and memory care. However, its important to remember that the cost of living varies from state to state.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'retirefearless_com-leader-4','ezslot_13',144,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-leader-4-0'); North Carolina has a complicated tax system. To retire comfortably in the state of North Carolina starting today, you will need to have saved at least $65,000. North Carolina ranks 19thamongst states with the highest per capita tax. North Carolinas Medicare quality ranking reflects the availability and effectiveness of Medicare Advantage plans in the state, which are sold privately and are available regionally. The average cost of living was $38,295. The south is known for hospitality, and North Carolina is no exception. North Carolina doesnt tax Social Security retirement benefits. Insurance is often more expensive in rural areas, and there are fewer providers to choose from. Each beach has a distinct vibe and feeling and many are surrounded by quaint coastal towns great for family reunions or a quick weekend getaway. Here are 10 pros and cons of living in North Carolina to consider before making this state your home. South Carolina, a state with plenty of history and marshland was actually not discovered until a while after North America had been founded. We are a publishing team of licensed Nursing Home Administrators, Nurses, Assisted Living Directors, and individuals with vast personal experience with retirement communities and senior living. Resorts are spread throughout the mountains and many are open for skiing in the winter and hiking in the summer. Social Security Income is exempt. The state's income tax rate is 4.99% in 2022, but the state updated its income tax schedule for the next seven years. North Carolina doesnt tax Social Security retirement benefits. Forest City. According to the Kiplinger State-by-State Guide to Taxes on Retirees, Virginia ranks as a tax-friendly state for retirees. High Crime Rate 2. Get money-saving tips, hard-to-find info and tactics for a successful retirement in our. While my new state gets snow occasionally (folks arent accustomed to driving in the snow, so be careful), the winters are mild overall. Best North Carolina Beaches. If youre the self-sufficient sort youll have plenty to do. No matter your preference, you're sure to find it in North Carolina. Retiring in South Carolina Pros and Cons South Carolina has no shortage of things to do to stay outdoors and active. Javascript must be enabled for the correct page display. Pros And Cons Of Living In North Carolina First of all, these are the top 10 North Carolina pros and cons: Great sense of community Low cost of living and economic opportunity Temperate weather and mild winters Abundant outdoor activities Access to quality health care High tax burden Sub-par K-12 education High crime rates Lack of weather variety Better with age, exceptional with us! It's anywhere from 10 to 30 percent cheaper to buy a home here than the national average. 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. North Carolina is home to a thriving arts and culture scene. JG Wentworth is well known across the country for its structured settlements, and was first founded in 1991. If you prefer the sea to mountaintops, the state has you covered in that department as well. The job market in Raleigh is thriving right now. Besides housing, the state also offers comparatively cheaper food options than other states like New York State or Washington State. The coastal areas are milder, with average temperatures in the 60s and 70s. Considering the states population and big cities, North Carolina has an affordable cost of living for many retirees. Regardless of your preference, know this: you cant go wrong but you better learn to defend it. But thats not all there is to this wonder.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[336,280],'retirefearless_com-medrectangle-4','ezslot_6',109,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-medrectangle-4-0'); North Carolina has some majestic views, temperate weather, lower-than-average cost of living, above-average healthcare, and a welcoming population. , both states ranked in the top five for net migration of people aged 60 and older. If youve ever wondered how some of our favorite Hollywood stars continue to make a living after their film days are over, they usually have several options. 201-447-2212 171 E. Ridgewood Ave. Suite 205 Ridgewood, NJ 07450 We will work closely with you and your family to create a lifestyle that meets care and budget needs while making the most of every day of retirement. So what does that mean for you? Weigh the pros and cons to see if retiring in North Carolina is right for you. The state is best known as the birthplace of Aviation, irresistible barbecue and friendly locals theres so much to love about living in North Carolina. Contact us today to get started. Pros Quality healthcare. Retrieved from, United Health Foundation. If you're over 65, you can exempt up to $35,000 of your retirement income from state taxes. Healthcare is a massive concern for those looking to move to another state, especially retirees. With lower than average rents, reasonably-priced food options, and free activities, retirees can save their dollars for other opportunities, such as traveling.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'retirefearless_com-large-mobile-banner-1','ezslot_7',143,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-large-mobile-banner-1-0'); First off, accommodation is the biggest expense that any states residents have to incur. Although North Carolina has several world-renowned hospitals, not all citizens have the same level of access to health care. However, European countries had beforehand . Pros & Cons of Living in Asheville North Carolina. Both of those are key areas for seniors and certainly good news. Small City . During this time of the year, you must be very careful and mindful in case the state authorities issue any alerts. Its true, but this point warrants a deeper dive. (30) Living in North Carolina (99) Living in Ohio (11) . Please call us using the phone number listed on this page. Retrieved from, Missouri Economic Research and Information Center. (n.d.). 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. 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%. The cost of living index for Myrtle Beach is 93, which means that it's 7 percent cheaper than the national average. The summers are good for the beach, while winters are good for skiing in the mountains. The state has been hit by several major storms, including Hurricane Florence in 2018. Most pay between 6.75% to 7%, although there are a handful of counties where the rate is 7.5%. 771 Words 4 Pages. True to form, locals focus on getting to know their neighbors and building a sense of community. This can be attributed to a number of factors, including a lack of providers, transportation issues, and a lack of insurance. In addition to the stunning scenery, the state has many parks and trails for retirees to enjoy. Even a carefully planned retirement lifestyle may come with unintended consequences. Come and see how Leisure Care communities are helping seniors rediscover (and sometimes reinvent) themselves. NC isnt the worst state for retirees when it comes to income taxes, but it isnt the best either. There is no estate tax. Its your time to build your future. A website run by locals in various cities, with the hopes of making big life decisions a little easier on you. Retiring in North Carolina Is North Carolina a good place to live? Then we verify the facts with original reports published by those sources, or we confirm the facts with qualified experts. Residents 65 and older can deduct up to $12,000 per person of retirement income, subject to income-eligibility limits. We love planning for retirement. 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. On the flip side, NC has a high-than-usual crime rate, increased chances of hurricanes, higher taxation, and a poor transportation system. Worth mention: The flat 4.99% state income tax is one of the lowest in the country, further adding to the lost cost of living in North Carolina. Another pro of retiring in North Carolina is excellent health care. Consider these retirement communities in North Carolina: Asheville. North Carolina is one of the original thirteen colonies, allowing it to gather a rich history spanning centuries. The average monthly rent for a 2-bedroom apartment in North Carolina is $825, which is much lower than in many other states. But there are still notable drawbacks to retiring in North Carolina. What more could you want in a new community? The low property taxes in the state are one of the reasons for the below-average housing costs. The most frequent explanation for North Carolina's increased crime rate is the state's higher-than-average poverty levels. The cost of living in North Carolina is relatively low compared to other US states. 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. And its true, with median home prices coming in at $330,000, many folks end up moving to North Carolina to fulfill their lifelong dream of owning a home (myself included). Seriously, Ive had days where the temperature soars to 80F by 8am (I mean, what the heck?). Thats a similar level of cost of living for states like Wyoming or Wisconsin, and significantly lower than most of the states that make up the Northeast, Midwest and West Coast. Both the Carolinas rank pretty high on the list of potential retirement homes for seniors. By 2026, the individual income tax will drop to 3.99%. North Carolina does have a state income tax, which can be unappealing to some retirees and sets it back from a financial perspective from popular retirement states like Florida, which doesnt have tax income at all. Low Cost of Living 2. While the cost of living in North Carolina is relatively low, the state does have higher taxes than some other US states. North Carolina is a generally affordable state where your money will go far, especially if you are used to a Northeast standard of living. For anyone trying to find affordable senior housing in Indiana, there are some good options to choose from around the state. From Sir Walter Raleigh landing in NC in 1587 to NC succeeding during the Civil War, this state has witnessed its fair share of nation-defining historical events. These same mountains include fishing, boating, whitewater rafting, and rock climbing. Estimate how long you'll live and explore retirement options for a long life. And the next 10 years are predicted to bring even more growth. Charlotte. This post is for you. Want to Retire in North Carolina? Travel Challenges 4. The state's picturesque landscape, with both its rugged inland mountains and windswept beaches, is sure to take your breath away. In cities like Charlotte and Raleigh, the winter lows rarely dip under 35F. Thats lower than every bordering state except Tennessee. The median home cost in the city is $260,000, but you can save some by relocating to Durham if you prefer. Charlotte, Raleigh, Durham, Morehead City, and Asheville had higher housing costs than New Bern, Fayetteville, Greensboro, and Jacksonville. North Carolina maintains seasons but doesnt suffer from the same regularly severe weather as northern states. History buffs will be drawn to the states colonial heritage and its strong heritage that comes to life with interactive and time-honored memorials. And its true, kindness comes easily, but friendships are earned (and typically last longer, in my experience). Moreover, given the vast and diverse landscape, you can engage in a myriad of outdoor activities, such as visiting the beach or trekking, completely free of cost. The Rainbow Falls Trail in Gorges State Park and the Looking Glass Rock Trail are a few other beautiful trails worth exploring. The Best Places to Retire in North Carolina. Posted by Preston Guyton on March 3, 2023 . Although the good news is that Maine . Either way, since most seniors seek to build a home in a place with moderate weather, North Carolina is an excellent choice or at least a much better choice than Florida or New York. The hurricane season hits North Carolina from June to November. A few of the most popular include the Riverfest Music Festival, the NC State Fair, and the Charlotte Folk Festival. We can be reached via email at contact@retirefearless.com. The state averages homeowners pay 0.85% of property value. Expats, digital nomads and retirees living in North Carolina responded: "People who live in North Carolina enjoy the mild climate, the beautiful beaches, and the friendly people. North Carolina's rich history influences much of the cultural scene. Here's what you need to know about the state before you make your move. Retrieved from, U.S. News & World Report. This can be attributed to several factors, including a lower-than-average cost of housing. RetireGuide.com, 20 Feb 2023, https://www.retireguide.com/retirement-life-leisure/best-and-worst-states-to-retire/north-carolina/. Charlotte, North Carolina is the most populous city in the state and offers residents a big city feel with small-town charm. South Carolina Is Tax-Friendlier to Retirees Than North Carolina.Kiplinger ranks South Carolina as one of the most-friendly states for taxes on retirees. According to a chart from the U.S. News & World Report, North Carolina also has a poor ranking for Medicare quality, coming in at 38th. . The average effective property tax rate in North Carolina is 0.77%, well under the national average of 1.07%. North Carolina is home to several historical sites, including battlefields from the Civil War, the Thomas Wolfe Memorial, the first documented gold find in the U.S., and the Battleship USS North Carolina. Not to mention the plethora of problems that arise when humidity becomes a part of your daily life. On average, individualstate and municipal taxescost 9.8% of ones yearly income. Receive Helpful Content Straight ToYour Inbox. Retrieved from, Loughead, K. (2020, February 3). Most of all, retirees with eyes on West Virginia must weigh the pros and cons of rural living. However, some of my friends have shared stories of woe, especially when searching for white collar jobs they could advance in. Contents1 Which county in NC has the lowest property taxes?2 Do you have to pay property taxes after 65 in NC?3 [] 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. Consider leaving a review on Google or Facebook. Pros And Cons Of South Carolina. One of the most significant disadvantages of retiring in North Carolina is a lack of public transportation. The Appalachian Mountains have a strong folk art and music tradition. In July of 1933, the North Carolina State Legislature formed the EBNC. If you need help pricing and building your medicare plan, call us at 844-572-0696. In sum, heres a quick roundup of the pros and cons of moving to North Carolina. The cost of living in Charlotte is lower than in other cities along the East Coast. Simmons, Christian. 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. If you're considering retiring to North Carolina, it's important to research the health care options in the area you plan to live. Many of the mountainous small towns typically come with very low costs of living. Poverty is seen as a significant contributor to the relatively higher crime rate in the state. Fuel costs are also cheaper than the rest of the country, sometimes by as much as $0.50 per gallon. Copyright © 2023 The Honest Local | This post may contain affiliate links - read our Standards, Corrections, & Privacy Policy. Let's look at some pros and cons of retiring in North Carolina to see if it could be the right state for you. Save my name, email, and website in this browser for the next time I comment. This can take out a big chunk of your retirement savings. The EBNC is The Eugenics Board of North Carolina. Most weekends can be spend hiking, biking, fishing, swimming or hunting. Oops! In some places, such as Durham County, you may even have to pay sales tax at the rate of 7.50%. Summers on the beaches, winters in the mountains, breathtaking views in the fall, and beautiful blooms in the spring North Carolina has it all. As you think about it, the state does have a lot to love for retirement. Local venues often have bluegrass and country music bands creating a folk atmosphere. Otherwise, it will be impossible to see the lovely beaches and mountainsides. Last modified February 20, 2023. https://www.retireguide.com/retirement-life-leisure/best-and-worst-states-to-retire/north-carolina/.
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