. 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. Locals Tip: Something that caught me off guard after moving to North Carolina was hearing kids use yes maam and no sir in practically every interaction. We'd love to hear your thoughts. Regardless of your preference, know this: you cant go wrong but you better learn to defend it. 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. North Carolina cost of living is 90.6. 22 Living in North Carolina Pros and Cons - Vittana.org 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! Many retiree-friendly communities have been developed with top-notch health care facilities. 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. However, it taxes public and private pension incomes, 401(k), IRA, and other retirement accounts at an income tax rate of 5.25%. If you need help pricing and building your medicare plan, call us at 844-572-0696. From traveling the world to exploring your own backyard, Leisure Care living is fun and easy. Were you able to find the information you were looking for on RetireGuide.com? Considering the states population and big cities, North Carolina has an affordable cost of living for many retirees. Youve come to the right place. 25 Pros And Cons Of Living In Greenville SC (Updated 2023) - Home Mindset Besides housing, the state also offers comparatively cheaper food options than other states like New York State or Washington State. While the cost of living in North Carolina is relatively low, the state does have higher taxes than some other US states. North Carolina offers a relatively low cost of living to its residents. Why do retirees move to North Carolina? - 2023 All-in-all, you will find that the big city vibe doesn't come with a significant price tag. The state is also far from just mountain ranges and includes some vibrant, fast-growing metropolises. Hurricanes are always a lurking threat for those living along the eastern seaboard, and unfortunately, they can potentially wreak havoc on the residents lives. 3. While those certainly exist, there are also major cities that could make for a fun and active retirement lifestyle. Last modified February 20, 2023. https://www.retireguide.com/retirement-life-leisure/best-and-worst-states-to-retire/north-carolina/. Youre probably not surprised to learn that affordable housing plays the largest role in the low cost of living in North Carolina. Charlotte, North Carolina is the most populous city in the state and offers residents a big city feel with small-town charm. North Carolina offers a relatively temperate climate to enjoy. If you prefer the sea to mountaintops, the state has you covered in that department as well. 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. 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. , both states ranked in the top five for net migration of people aged 60 and older. Its more of a low-impact retirement destination than Florida or Arizona, keeping many snowbirds closer to home and maintaining the seasonal changes that many Americans enjoy without as much severe weather. Pros & Cons of Living in Asheville . 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 a mid-sized city of around 275,000 residents, Durham has all the excitement . encounter a violent crime, and 24% encounter a property crime, with the overall crime rate being 28.72. Central North Carolina's Piedmont region is home to the state's capital, Raleigh. In cities like Charlotte and Raleigh, the winter lows rarely dip under 35F. 4 Full Seasons Cons of Retiring in West Virginia 1. North Carolina is the third most popular retirement destination. North Carolina is home to the Smoky Mountains and the Blue Ridge Mountains. Benefits of Retiring In West Virginia (Pros & Cons) - Retire Fearless Around 14% percent of residents live in poverty, typically leading to increased criminal activity. In North Carolina, there is no tax on Social Security Income, income taxes have been lowered a flat rate (and that rate has been decreasing), there is no State Estate Tax, and a low corporate income tax. 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. One of the largest is Brunswick Forest, which is located outside of Wilmington. Otherwise, it will be difficult to visit the beautiful beaches and mountains. However, it does so at a reduced rate, with almost 2% on most food. You'll need to buy an automobile to get the most out of living in North Carolina. Save my name, email, and website in this browser for the next time I comment. You can thank me later. The state's picturesque landscape, with both its rugged inland mountains and windswept beaches, is sure to take your breath away. Posted by Preston Guyton on March 3, 2023 . 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. A coworker joked that North Carolinians are the best neighborhoods and acquaintances a person could have because respect is a second language. Much of determining where to retire may come down to researching where your money will spend the best. Obviously your lifestyle with depend on your way of life in North Carolina. Aging in America Rankings. Simmons, Christian. According to the U.S. News and World Report, Charlotte is viewed as an excellent retirement destination. Theres essentially something for everyone. Again, it's about researching the specific community you're interested in living in as many areas have low crime rates. Thinking about living in North Carolina? With its rugged inland mountains and wind-swept beaches, the state offers some grossly ravishing scenery that will take your breath away. District of Columbia costs $2,324 to rent. Unlike most other states, North Carolina taxes groceries. Exactly how much your monthly rate is will depend on the care being received, amenities being used, and apartment style chosen. After all, this state has a lot to offer. This can be attributed to a number of factors, including a lack of providers, transportation issues, and a lack of insurance. . This is very ideal for retirees. Florida and Arizona may be the most popular spots, but they are paired with extreme heat, virtually nonexistent seasons and are as far away as can be from the Northeast or Midwest where many retirees come from. It offers a small-town vibe nestled within the North Carolina mountains. Lamia Chowdhury is a financial content editor for RetireGuide and has over three years of marketing experience in the finance industry. The famous Blue Ridge Parkway runs for 469 miles through the Appalachian Mountains. The University of North Carolina, for example, offers a Continuing Education program with a range of general interest courses for community members. North Carolina is certainly an interesting state. Whether or not you have access to healthcare programs, insurance, and good hospitals and doctors, is and should be a major factor to consider. All this to say, both the outdoor recreation and road trip possibilities are endless while living in North Carolina. Even though this isnt true for the entire state, the most populous places do experience a fairly temperate climate. However, after moving to Carolina and making the adjustment, this is one of my personal favorite perks of living in North Carolina. The state is home to a handful of great cities, but most of the Tar Heel State is rural. Access to Nature #2. Christian Simmons is a writer for RetireGuide and a member of the Association for Financial Counseling & Planning Education (AFCPE). 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. But before I get some sassy remark, allow me to explain. 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. In fact. In sum, heres a quick roundup of the pros and cons of moving to 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. While most of these are meant for hikers, there are options for mountain biking or horseback riding. Explore the local galleries for hand-crafted pottery and other creations. North Carolina may traditionally be thought of by some as a rugged state filled with mountainous communities. Do you enjoy the resources RetireGuide provides? Required fields are marked *. Hickory. We appreciate your feedback. What Are The Pros And Cons Of Living In Myrtle Beach? Overall, North Carolinas health care is not bad by any means, but its also not close to the states in the top tier. Resorts are spread throughout the mountains and many are open for skiing in the winter and hiking in the summer. We can be reached via email at contact@retirefearless.com. 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. However, the state will tax other types of retirement income, including 401(k) and pension distributions. The fact is that not everything is rainbows and butterflies in the Old North State. Property taxes vary from county and municipality. According to the NC Rural Health Research Program, people who live in rural areas often have to travel long distances for care. 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. And often the most popular choice within the southeastern United States is a toss-up between North Carolina and South Carolina. Over the last 10 years, Greenville has become one of the most vibrant cities in the nation. APA Proximity to Everything You Need; Cons of Moving to Asheville, NC #1. (2021). Lexington style BBQ (also called Western style) uses only the pork shoulder and employs a ketchup-based red sauce perfected with vinegar and spices. 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. We offerindependent living servicesat Treeo Raleigh in North Carolina. The Good Life - Pros and Cons of Retiring in South Carolina As one of the original 13 colonies, you'll find important historical sites in American history, from Revolutionary-era buildings to Civil War battle sites. The state experiences all four seasons, with hot summers and cold winters in the mountains. Healthcare is a massive concern for those looking to move to another state, especially retirees. North Carolinas total state and average local sales tax rate is 6.98%. With a GDP per capita of $64,582, the Virginian economy is ranked 15th out of the country's 50 states.. Both the Carolinas rank pretty high on the list of potential retirement homes for seniors. Its important to remember that regardless of where you choose to settle in North Carolina, youre never far from the mountains. According to a study by Safewise, 11% of the states residents encounter a violent crime, and 24% encounter a property crime, with the overall crime rate being 28.72. As far as overall health in the state, the United Health Foundation ranks North Carolina 33rd nationally in 2021. Average daily temperatures hover around 40F-50F with nights dipping below freezing 28F-35F. All rights reserved. 10 Pros and Cons of Living in North Carolina Right Now Posted by Preston Guyton on Friday, September 30, 2022 at 10:07 AM By Preston Guyton / September 30, 2022 Comment When you think "retirement destination," North Carolina may not be top of mind. The Median income in North Carolina is about $56,000. Copyright © 2023 The Honest Local | This post may contain affiliate links - read our Standards, Corrections, & Privacy Policy. As the younger population flocks to the more happening and exciting states, they often miss out on the beauty that is NC. in advertising from the University of Illinois, Alissa has worked all over the world as a freelance communications strategist and writer. Retrieved from, Loughead, K. (2020, February 3). One of the most significant drawbacks of retiring in North Carolina is the lack of a public transportation system. Receive Helpful Content Straight ToYour Inbox. The 7 Best Places to Retire in North Carolina - msn.com You never know when the threat will come to fruition so youll want to be prepared. 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. Find fishing, boating, hiking, golfing, and much more. The state has coastlines, mountains, and distinct regions that offer a variety of activities for retirees. Is It Better To Retire In Virginia Or North Carolina? - CLJ You will need to invest in a car to get the most out of living in North Carolina. With its picturesque beauty, stunning coastline, and southern hospitality, it isnt hard to see why North Carolina draws people from all over the country. This trail starts from Georgia and passes through North Carolina, making it all the way to Maine. If it sounds appealing, start looking at these 16 top cities in NC. 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. 1.. Where do most retirees live in North Carolina? Most of all, retirees with eyes on West Virginia must weigh the pros and cons of rural living. We love planning for retirement. Retrieved from, U.S. News & World Report. 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). North Carolina may not be a state traditionally thought of when it comes to retirement, but its popularity is on the rise. Americas Health Rankings. Whether or not you have access to healthcare programs, insurance, and good hospitals and doctors, is and should be a major factor to consider. 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. With that being said, the low cost of living may be less relevant, depending on how much money you have for your retirement. Generally speaking, North Carolina offers more diversity in locations and scenery, from major cities and beaches to full-blown mountain ranges. Residents have over 200 state parks to explore, including Mount Rogers National Recreation Area and Great Smoky Mountains National Park. 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. 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. The Appalachian Mountains have a strong folk art and music tradition. But North Carolina also displayed a high prevalence of food insecurity and people commonly avoiding seeking health care due to the cost. For instance, Duke University Hospital is among the best in the country. This climate diversity means that there's something for everyone regarding retiree weather. North Carolina offers a relatively low cost of living to its residents. North Carolina maintains seasons but doesnt suffer from the same regularly severe weather as northern states. Retrieved from, U.S. News & World Report. In some places, such as Durham County, you may even have to pay sales tax at the rate of 7.50%. North Carolina is a generally affordable state where your money will go far, especially if you are used to a Northeast standard of living. As you think about it, the state does have a lot to love for retirement. 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. However, European countries had beforehand . North Carolina doesnt tax Social Security retirement benefits. It wont come easy (Ill touch on this shortly as well). I lived in the Old North State for 12 years and have definitely learned a few things about daily life in North Carolina. And its true, kindness comes easily, but friendships are earned (and typically last longer, in my experience). Get money-saving tips, hard-to-find info and tactics for a successful retirement in our free weekly newsletter. cost 9.8% of ones yearly income. 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. There aren't enough regular buses, trains, and other means of transportation to allow you to travel and explore different areas of the state. MLA Although the surgeon population for the Charlotte area is beginning to minimize this advantage, the cost of living here is still lower than it is across the United States, and especially along the eastern seaboard. Many folks are surprised to learn that North Carolina the 3rd most hurricane prone state in the country. in the state is 5.8 per 100,000, 10% higher than the national average. But one mountain city that stands out is Asheville. List of the Pros of Living in Charlotte, NC 1. Rapidly Increasing Economy. In my experience, locals are very friendly, but theres a reserved nature about them. If you're over 65, you can exempt up to $35,000 of your retirement income from state taxes. If youre more interested in a small-town retirement, the U.S. News & World Report also pointed to Hickory as an option, which is opposite from Charlotte. But thats not all there is to this wonder. When it comes to retiring for cheap, leaving the United States to a cheaper region is possible and two places worth considering are Belize and Costa Rica. There is no estate tax. In July of 1933, the North Carolina State Legislature formed the EBNC. Usually, there are two options to steer clear of hurricane damage. It has an old town feel and is very affordable, giving older adults the chance to retire in a charming town with great scenery. North Carolina is home to a thriving arts and culture scene. The Rainbow Falls Trail in Gorges State Park and the Looking Glass Rock Trail are a few other beautiful trails worth exploring. However, the sales tax differs from county to county. Seriously, Ive had days where the temperature soars to 80F by 8am (I mean, what the heck?). If you're over 65, you can exempt up to $35,000 of your retirement income from state taxes. Black Mountain. 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. A recent study by MIT found that a single adult (without kids) needs to make a minimum of $31,660 per year to live in North Carolina. But dont just take my word for it, with an unemployment rate sitting at 3.8%, North Carolina isnt one of the easiest states to find work. Likewise, rain is not uncommon during the summer months. The Appalachian Mountains stretch across most of North Carolina and provide many hiking trails. North Carolina has a diverse range of weather and climate, depending on which region you retire to. Even a carefully planned retirement lifestyle may come with unintended consequences. Even popular tourist spots like Myrtle Beach can offer affordable living. Hurricanes in North Carolina are accompanied by intense winds and unpredictable weather patterns that can cause flooding and severely damage your home. The Appalachian Mountains form most of North Carolinas territory, providing the state with. 8 Things You Must Know About Retiring to the Carolinas Overall, the cost of living in North Carolina comes in 5 points below the national average. 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. As in North Carolina, South Carolina does not tax Social Security benefits. Moreover, there are also smaller university hospitals in the state that are nationally ranked. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'retirefearless_com-leader-2','ezslot_11',135,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-leader-2-0');North Carolina has relatively low property taxes. This post is for you. In addition, Social Security income is not taxed, and income taxes have been lowered to a flat rate, to 4.9% in 2022. However, that doesnt mean that crime in the state is non-existent. That data found the median monthly mortgage cost was $1,314, and the median two-bedroom rent was $878. 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. 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. Pinehurst. Another pro of retiring in North Carolina is excellent health care. What more could you want in a new community? Here's What You Need to Know. Both of those are key areas for seniors and certainly good news. While the state has always had plenty to offer, one of its biggest advantages for retirees is that it can essentially serve as a middle ground between more extreme retirement destinations. Then we verify the facts with original reports published by those sources, or we confirm the facts with qualified experts. North Carolina VS South Carolina - Which One is Better - Movingist In addition to the stunning scenery, the state has many parks and trails for retirees to enjoy. Please wait a moment and try again. However, although higher than the national average, the murder rate in North Carolina is much lower than in South Carolina. These same mountains include fishing, boating, whitewater rafting, and rock climbing. Chicago 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. They also appreciate the state's diverse culture, with its many festivals and events. Here, retirees can enjoy a more peaceful and relaxed pace of life. 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. Poverty is seen as a significant contributor to the relatively higher crime rate in the state. Many of the mountainous small towns typically come with very low costs of living. Especially if you are moving from up north, youll find that even the largest cities compare favorably to the cost of living that youre used to. But there are still notable drawbacks to retiring in North Carolina. On the other hand, some people find the cost of living in North Carolina to be . 2023 RetireGuide LLC. Please call us using the phone number listed on this page. Now to answer the big question: Is North Carolina a good place to live? Sadly, our state has one of the most poorly funded schools systems in the nation. Five-star fun. One of the most significant drawbacks of retiring in North Carolina is the lack of a public transportation system. Consider these retirement communities in North Carolina: Asheville. This includes looking into hospitals, clinics, and doctors in the area. 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. Historically, Virginia has had a reputation for wealth creation. Thats not to say that youll be greeted with open arms (Ive found locals to be friendly, yet reserved Ill cover this in detail shortly) but you will be welcomed and treated with respect. Its all about the meat in this method, and sauce would serve as a mere distraction although a small side of ketchup-based sauce is provided, for those so inclined. NC isnt the worst state for retirees when it comes to income taxes, but it isnt the best either. One of the benefits of retiring in North Carolina is that the state offers tax breaks for seniors. Retiring in South Carolina Pros and Cons South Carolina has no shortage of things to do to stay outdoors and active. Cost of Living Data Series. amongst states with the highest per capita tax. And the state has the added benefit of generally affordable housing and a low cost of living, even within the cities. 771 Words 4 Pages. 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 scenery is also beautiful, and its one of the few states that is diverse enough to offer everything from small mountain towns to major cities and beaches. With its picturesque beauty, stunning coastline, and southern hospitality, it isnt hard to see why North Carolina draws people from all over the country. 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. Your email address will not be published. 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. It truly offers the best of both worlds to prospective retirees. Charlotte. Retrieved from, Missouri Economic Research and Information Center. Is Virginia a good place to retire for taxes? According to a report from the Missouri Economic Research and Information Center, North Carolina ranks 22nd nationally in cost of living. As far as the major cities, Asheville may offer the most affordable lifestyle. Is South Carolina or North Carolina better for retirement? North Carolina offers many advantages for older adults. Partner the intense heat with the constant humidity and youll be begging for a shower before pulling out of the driveway. So heads up! Oops! If youre planning to retire in North Carolina, you have more than a few reasons up your sleeve to do so. Benefits of Retiring In Virginia (Pros & Cons) | Retire Fearless True to form, locals focus on getting to know their neighbors and building a sense of community. You havent lived until youve tasted the irresistible temptation that is vinegar barbecue, its life-changing. 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. Pros & Cons of Retiring in South Carolina - RetireGuide Retiring in NC: Best Places to Retire & Cost of Living - RetireGuide
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