Miles of sandy shoreline mark the spot where our lovely state ends and the Atlantic Ocean begins. 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. 22 Living in North Carolina Pros and Cons - Vittana.org Find a job before moving to North Carolina is vital (especially if you plan to live in the rural parts of the state). Marion. With its rugged inland mountains and wind-swept beaches, the state offers some grossly ravishing scenery that will take your breath away. The Tar Heel State offers exceptional opportunities for you to witness the beauty, from the Outer Banks to the Smoky Mountains. Moreover, there are also smaller university hospitals in the state that are nationally ranked. North Carolina is one of the original thirteen colonies, allowing it to gather a rich history spanning centuries. I lived in the Old North State for 12 years and have definitely learned a few things about daily life in North Carolina. Good news for retirees eyeing North Carolina as a landing pad for their golden years: State residents 65 and older can, on a space-available basis, audit classes tuition-free at the campuses of. How To Apply For Medicare: A Step-by-Step Guide, Missouri Economic Research and Information Center. https://www.wral.com/new-study-reveals-best-places-to-retire-in-north-carolina-they-re-all-small-towns/19879509/, https://money.usnews.com/money/retirement/baby-boomers/articles/best-places-to-retire-in-north-carolina, https://assets.americashealthrankings.org/app/uploads/2021-senior-report-%E2%80%93-state-summaries.pdf, https://taxfoundation.org/state-individual-income-tax-rates-and-brackets-for-2020/, https://meric.mo.gov/data/cost-living-data-series, https://web.archive.org/web/20230126082510/https://www.usnews.com/news/best-states/rankings/aging, https://travel.usnews.com/rankings/best-beaches-in-north-carolina/, This article contains incorrect information, This article doesn't have the information I'm looking for, Winner of the Florida Society of News Editors Journalism Contest, Member of the Association for Financial Counseling & Planning Education, Founded an independent, student-run publication at UCF, Leah, H. (2021, September 16). Recall how I mentioned southern hospitality as one of the best things about living in North Carolina? Low Population 4. Read More. Should You Retire in Georgia or Florida? Let's Compare! And often the most popular choice within the southeastern United States is a toss-up between North Carolina and South Carolina. When you think "retirement destination," North Carolina may not be top of mind. North Carolina is certainly an interesting state. For starters, Social Security income is not taxed and if youre over 65 years old, up to $35,000 of your retirement income is exempt from state taxes. The Best Places to Retire in North Carolina - US News & World Report 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. 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 Thinking about living in North Carolina? North Carolina has become a popular retirement destination as the state has grown, providing an alternative to extreme-heat states like Florida and Arizona. The Appalachian Mountains form most of North Carolinas territory, providing the state withmiles of hiking trails. 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. While the people whove been living here for a long are prepared for these types of disasters, those who are unprepared can often be severely injured or embrace mortality due to touching downed wires or getting swept up in flood. When it comes to retirement, there's a lot to consider. The state is also far from just mountain ranges and includes some vibrant, fast-growing metropolises. Since they live in a gorgeous state, youll find most people casually walking around looking happy and enjoying life. However, certain types of crimes are more common in the state than others. Get money-saving tips, hard-to-find info and tactics for a successful retirement in our free weekly newsletter. With some of the countrys best university medical centers in the country, fortunately, North Carolina delivers well in this regard. True to form, locals focus on getting to know their neighbors and building a sense of community. Essentially, the public transport in North Carolina doesnt cover a huge ground and is rather under-serviced, so it becomes particularly tricky to get from one place to another without a car.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'retirefearless_com-narrow-sky-1','ezslot_19',147,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-narrow-sky-1-0'); With multiple family members currently in senior living facilities, David is in the trenches every week, learning the ins and outs of nursing homes, assisted living, memory care, and general senior living. Residents 65 and older can deduct up to $12,000 per person of retirement income, subject to income-eligibility limits. Sauna-quality humidity (yay!). 201-447-2212 171 E. Ridgewood Ave. Suite 205 Ridgewood, NJ 07450 Hickory. Retiring in NC: Best Places to Retire & Cost of Living - RetireGuide 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. Partner the intense heat with the constant humidity and youll be begging for a shower before pulling out of the driveway. Pros and Cons of Living in North Carolina | Expat Exchange Sorry there was an error. . Winters were a bear and I was desperate to get out, as such, moving to a place with mild winters was non-negotiable. The lack of proper public buses, trains, and other modes of transportation make it challenging to travel and explore different parts of the state. According to an article from Tax Foundation, the spending power of $100 in North Carolina is equal to $109.53. In addition, Social Security income is not taxed, and income taxes have been lowered to a flat rate, to 4.9% in 2022. What more could you want in a new community? Its important to remember that regardless of where you choose to settle in North Carolina, youre never far from the mountains. The similarities end with the choice of meat (both use pork), from there the methods differ. . Healthcare is a massive concern for those looking to move to another state, especially retirees. 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. . However, it does so at a reduced rate, with almost 2% on most food. Chicago With over 300 miles of barrier coastline and beaches, there are plenty of swimming, fishing, and boating opportunities. The cost of living index for Myrtle Beach is 93, which means that it's 7 percent cheaper than the national average. Required fields are marked *. As you think about it, the state does have a lot to love for retirement. Retrieved from, Brandon, E. (2021, February 22). document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Sign up for helpful guides, interesting topics, and tips from locals. Residents can claim a $3,000 deduction if they are under 65 or $15,000 if they are over 65, making it exceptionally welcoming for senior citizens who are receiving income from sources other than social security. RetireGuide.com. In fact, according to a 2019 report,1.4 million of the states residents live in poverty, making NC the state with the 15th highest poverty rate. You will also want to think through what is included at the community you are considering. The state offers various outdoor activities Whether you enjoy hiking, biking, fishing, or camping, North Carolina has plenty of outdoor activities to keep you busy. Charlotte, North Carolina is the most populous city in the state and offers residents a big city feel with small-town charm. 1.. One of the most significant drawbacks of retiring in North Carolina is the lack of a public transportation system. North Carolina Pros And Cons; North Carolina Pros And Cons. With some of the countrys best university medical centers in the country, fortunately, North Carolina delivers well in this regard. In true form to its southern neighbors, North Carolinas public schools are nothing to write home about. Property tax rates are moderately high in North Carolina, but there is a senior discount that is quite significant. 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. It came in as the 20th most-taxed state. All rights reserved. Unlike most other states, North Carolina taxes groceries. Insurance is often more expensive in rural areas, and there are fewer providers to choose from. Raleigh, the state capital, could also be a suitable retirement destination that includes many big city offerings without quite as much activity as Charlotte. Contents1 Is it cheaper to live in SC [] One option that stands out is Hendersonville. If you prefer the sea to mountaintops, the state has you covered in that department as well. The median home price in Myrtle Beach is $216,000, and rent also . ; There are no social security taxes. But before I get some sassy remark, allow me to explain. Many of our communities include a wide range of amenities including. Something went wrong while submitting the form. The state's income tax rate is 4.99% in 2022, but the state updated its income tax schedule for the next seven years. Happiness in retirement is the main goal, and having the right information allows us (and you) to achieve that. The mountainous regions in the state experience humid days in the summer and pretty cold temperatures in the winter. Low Cost of Living 2. A website run by locals in various cities, with the hopes of making big life decisions a little easier on you. As the younger population flocks to the more happening and exciting states, they often miss out on the beauty that is NC. The state's picturesque landscape, with both its rugged inland mountains and windswept beaches, is sure to take your breath away. One big perk for retirees is that North Carolina will not tax your Social Security, which can give you thousands of extra dollars each year. Fuel costs are also cheaper than the rest of the country, sometimes by as much as $0.50 per gallon. 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. In North Carolina, the public transportation network is limited in scope and under-served. Five-star fun. Rapidly Increasing Economy. Generally speaking, North Carolina offers more diversity in locations and scenery, from major cities and beaches to full-blown mountain ranges. Pros of Retiring in West Virginia 1. One of the most significant drawbacks of retiring in North Carolina is the lack of a public transportation system. As with other retirement communities, it also offers a variety of differently styled homes and ways to live in retirement. Most weekends can be spend hiking, biking, fishing, swimming or hunting. In my experience, locals are very friendly, but theres a reserved nature about them. . 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. 2023 RetireGuide LLC. But thats not all there is to this wonder. According to the Census Bureau, both states ranked in the top five for net migration of people aged 60 and older. Home to a combination of 21 professional and minor league teams, North Carolina has a football team, minor league baseball teams, basketball, and hockey teams. Want to Retire in North Carolina? 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! In fact, there's a large contingent of residents called "half-backs," who spend winters in Florida and summers in the Carolina mountains. Pros of retiring in North Carolina All four seasons. Weigh the pros and cons to see if retiring in North Carolina is right for you. 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. During this time of the year, you must be very careful and mindful in case the state authorities issue any alerts. Save my name, email, and website in this browser for the next time I comment. North Carolina maintains seasons but doesnt suffer from the same regularly severe weather as northern states. placing it on the ranking of 26 in the nation. The state has been hit by several major storms, including Hurricane Florence in 2018. Overall, the cost of living in North Carolina comes in 5 points below the national average. Living in Pennsylvania . The job market in Raleigh is thriving right now. We offerindependent living servicesat Treeo Raleigh in North Carolina. 2. APA The High Cost of Housing #2. The answer really depends on what youre looking for in retirement since each state offers different benefits. Property taxes vary from county and municipality. Mission was ranked #6 in U.S. News and World Report's North Carolina hospital rankings. You will need to invest in a car to get the most out of living in North Carolina. As far as the major cities, Asheville may offer the most affordable lifestyle. The Outer Banks (OBX) are barrier islands off the coast of North Carolina and include Hatteras Island, Ocracoke, Roanoke Island, and Bodie Island. A State Estate Tax does not exist, and the corporate income tax is low. Although the good news is that Maine . (n.d.). 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. In some places, such as Durham County, you may even have to pay sales tax at the rate of 7.50%. Pros Quality healthcare. North Carolina is generally an affordable state. 5 Reasons to Consider Buying a House in Boone, NC However, as with every other state, North Carolina also has quite a few pitfalls that if you can look past, youll love living here. As in North Carolina, South Carolina does not tax Social Security benefits. The city mixes the old with the new in an innovative way, bringing history to life with Civil War landmarks, the Discovery Place, the NASCAR Hall of Fame, and even Carowinds, a sprawling theme park all within the Queen City. Aging in America Rankings. encounter a violent crime, and 24% encounter a property crime, with the overall crime rate being 28.72. It has an old town feel and is very affordable, giving older adults the chance to retire in a charming town with great scenery. 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. Benefits of Retiring In South Carolina (Pros & Cons) - Retire Fearless Whether youre looking for directions or recommendations for a good restaurant, the locals will be more than enthused about helping you out. You never know when the threat will come to fruition so youll want to be prepared. Most of all, retirees with eyes on West Virginia must weigh the pros and cons of rural living. North Carolina's rich history influences much of the cultural scene. The median home cost in the city is $260,000, but you can save some by relocating to Durham if you prefer. Where do most retirees live in North Carolina? This area is famous for its beaches, lighthouses, and wildlife. 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 . This trail starts from Georgia and passes through North Carolina, making it all the way to Maine. That rate continues to drop from what was 5.75% in tax years 2015-2016. For instance, with the highest average rent in the United States, a one-bedroom apartment in the District of Columbia costs $2,324 to rent.So, if you move to North Carolina, youll be saving quite a bit on your monthly cost. To retire comfortably in the state of North Carolina starting today, you will need to have saved at least $65,000. 10 Pros and Cons of Living in North Carolina Right Now 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. Indeed, its hard to find yourself bored after moving to North Carolina, as most of your free time can be spent outdoors. In addition, Social Security income is not taxed, and income taxes have been lowered to a flat rate, to 4.9% in 2022. "North Carolina Retirement." Were you able to find the information you were looking for on RetireGuide.com? But dont just take my word for it. Is it cheaper to live in North Carolina? - 2023 Pros & Cons of Living in Asheville North Carolina. So, if you plan on starting a business during your retirement years, youll be paying around only 2.5% corporate tax. Yes, North Carolina is a good place to retire because the state offers generous tax breaks for retirees. According to the U.S. News and World Report, Charlotte is viewed as an excellent retirement destination. Let's look at some pros and cons of retiring in North Carolina to see if it could be the right state for you. Otherwise, it will be difficult to visit the beautiful beaches and mountains. We love planning for retirement. North Carolina is home to a thriving arts and culture scene. For instance, with the highest average rent in the United States, a one-bedroom apartment in the. The murder ratein the state is 5.8 per 100,000, 10% higher than the national average. Dont hesitate to reach out with questions, Im here to help! Here's what you need to know about the state before you make your move. One of the largest is Brunswick Forest, which is located outside of Wilmington. Alissa has been working in marketing and the senior living industry for over ten years. While the cost of living in North Carolina is relatively low, the state does have higher taxes than some other US states. But North Carolina has a lot to offer, from stunning scenery to tax breaks for seniors. North Carolina experiences moderate temperatures in all four seasons. Resorts are spread throughout the mountains and many are open for skiing in the winter and hiking in the summer. Today, we're going to highlight 7 of the best places to retire in North Carolina. 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. Pinehurst. 3. Five-star service. Historically, Virginia has had a reputation for wealth creation. If you fancy yourself a city-dweller, you wont be disappointed either. Here are the pros and cons of retiring to Asheville, North Carolina. Healthcare is a massive concern for those looking to move to another state, especially retirees. For anyone trying to find affordable senior housing in Indiana, there are some good options to choose from around the state. The Friendly Community Feeling #6. With its picturesque beauty, stunning coastline, and southern hospitality, it isnt hard to see why North Carolina draws people from all over the country. You can just as easily find a charming apartment in the city or a farmstead, if you so choose. 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. Pros And Cons Of South Carolina. The largest employers in the state are: Walmart, Duke University, Food Lion, Wells Fargo, Lowes and Bank of America. If youre new to North Carolina, allow me to fill you in. 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. Then we verify the facts with original reports published by those sources, or we confirm the facts with qualified experts. For the first time, most Medicare beneficiaries will opt for a private plan as early as this year. In any case, having daily access to mouthwatering BBQ is one of my favorite things about living in North Carolina. Both of those are key areas for seniors and certainly good news. With an abundance of hiking trails and hundreds of miles of coastline, theres no seeming end to the amount of outdoor expeditions you can enjoy in the state. The moderate temperatures mean that the outdoors can be enjoyed year-round, keeping retirees active and engaged. It was also named the top hospital in the state by Business North Carolina in 2017, 2018, and 2019. On the other hand, some people find the cost of living in North Carolina to be . 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.
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