isnt one of the easiest states to find work, 16 HONEST Pros & Cons of Living in Georgia (Lets Talk), 12 HONEST Pros & Cons of Living in Minneapolis, 15 HONEST Pros & Cons of Living in Charlotte, North Carolina, Property taxes: 0.84%, well below the national average, Access to the mountains (alright, hills) and the beach. North Carolina has a growing variety of retirement communities, with some as small as a couple hundred homes grouped together and others large enough to qualify as sprawling self-sufficient towns. Find fishing, boating, hiking, golfing, and much more. When evaluating the cost of senior living first think through your current expenses because so much of senior living is all-inclusive. Retire in Asheville - Asheville North Carolina retirement Table of Contents. Reidsville. The cost of living in North Carolina is relatively low compared to other US states. Before moving to North Carolina I found myself living in Chicago, where I braced for winters with the enthusiasm reserved for water-downed cocktails and malfunctioning alarm clocks. But North Carolina also displayed a high prevalence of food insecurity and people commonly avoiding seeking health care due to the cost. 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. An amount below 100 means North Carolina is cheaper than the US average. As the younger population flocks to the more happening and exciting states, they often miss out on the beauty that is NC. Decent Essays. New Study Reveals Best Places to Retire in North Carolina Theyre All Small Towns. Your web browser is no longer supported by Microsoft. You can thank me later. The Pros and Cons of Retiring in South Carolina - EZHomeSearch.com 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. Retrieved from. History buffs will be drawn to the states colonial heritage and its strong heritage that comes to life with interactive and time-honored memorials. Resorts are spread throughout the mountains and many are open for skiing in the winter and hiking in the summer. From traveling the world to exploring your own backyard, Leisure Care living is fun and easy. Most pay between 6.75% to 7%, although there are a handful of counties where the rate is 7.5%. These include Chapel Hill, Raleigh, and Asheville. RetireGuide doesnt believe in selling customer information. 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). 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. 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 . And while seasonal weather is a benefit to some, other retirees may simply want to move far enough south to never even have to think about snow again. Asheville is a unique mixture of a lively city with an active and modern culture that is surrounded by the Blue Ridge Mountains and plenty of nature. The. 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. According to the communitys website, it is 10 minutes from a city in Wilmington, 30 minutes from the beach and includes many nature attractions and activities. The Pros and Cons of Retiring to Alabama Have you been thinking of retiring to Alabama? North Carolina VS South Carolina - Which One is Better - Movingist Home to a population of nearly 10.5 million, North Carolina is the 9th most populous state in the country. According to the NC Rural Health Research Program, people who live in rural areas often have to travel long distances for care. However, with your retirement nearing, you dont have to look past this wonderful state. According to a report from the Missouri Economic Research and Information Center, North Carolina ranks 22nd nationally in cost of living. Consider these retirement communities in North Carolina: Asheville. Abandoning the city has its advantages, especially when considering the scenery. Summers in North Carolina are the worst. Is It Better To Retire In Virginia Or North Carolina? - CLJ 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. According to How Stuff Works, "the average cost of living for a retired couple in South Carolina is about $37,000 a year," which is significantly lower than many other states in the US. 890 Words; 4 Pages; Open Document. 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 is something to keep in mind if you're considering retiring to North Carolina. Many retiree-friendly communities have been developed with top-notch health care facilities. Fuel costs are also cheaper than the rest of the country, sometimes by as much as $0.50 per gallon. Speaking of, heres a locals tip: Purchase these bad boys before moving to North Carolina. 4 Full Seasons Cons of Retiring in West Virginia 1. The state does tax public and private pension incomes, 401(k)s, IRA, and other retirement accounts at the current income tax rate. The state is home to a handful of great cities, but most of the Tar Heel State is rural. The sales tax rate is 6.98%, which falls into about the middle tier nationally. 2023 Best & Worst States for Retirement | Retirement Living Rapidly Increasing Economy. A State Estate Tax does not exist, and the corporate income tax is low. Low Employment Opportunities 3. JG Wentworth Personal Loans: 2023 Review | Bankrate State Individual Income Tax Rates and Brackets for 2020. 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 . North Carolina's property tax rates are relatively low in comparison to those of other states. 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. Benefits of Retiring In North Carolina (Pros & Cons) - Retire Fearless A few of the most popular include the Riverfest Music Festival, the NC State Fair, and the Charlotte Folk Festival. The taxes are not overtly high, but still will cost you more than many other parts of the country. 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%. 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 EBNC is The Eugenics Board of North Carolina. Overall, the cost of living in North Carolina comes in 5 points below the national average. Dont hesitate to reach out with questions, Im here to help! The summers are good for the beach, while winters are good for skiing in the mountains. Simmons, Christian. If you prefer the sea to mountaintops, the state has you covered in that department as well. The hurricane season hits North Carolina from June to November. Last modified February 20, 2023. https://www.retireguide.com/retirement-life-leisure/best-and-worst-states-to-retire/north-carolina/. Enter North Carolina, sweet North Carolina. in the state is 5.8 per 100,000, 10% higher than the national average. You're signed up for our free newsletter! You can learn more about our writers, here. This trail starts from Georgia and passes through North Carolina, making it all the way to Maine. 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. The Pros and Cons of Retiring in North Carolina (2022) 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. Its not uncommon to walk into a supermarket, cafe or restaurant and be greeted by name if youve lived in the town long enough. In true form to its southern neighbors, North Carolinas public schools are nothing to write home about. 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. 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. All this to say, both the outdoor recreation and road trip possibilities are endless while living in North Carolina. High Crime Rate 2. The coastal region is where you'll find the Outer Banks plus the miles of the Atlantic coastline. He covers Medicare and important retirement topics. With over 300 miles of barrier coastline and beaches, there are plenty of swimming, fishing, and boating opportunities. 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. Find many museums, including the North Carolina Museum of Art and the Asheville Art Museum. Contents1 Which county in NC has the lowest property taxes?2 Do you have to pay property taxes after 65 in NC?3 [] Over the last 10 years, Greenville has become one of the most vibrant cities in the nation. 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. If you need help pricing and building your medicare plan, call us at 844-572-0696. (n.d.). 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. Pros of Retiring in West Virginia 1. 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. The median home cost in the city is $260,000, but you can save some by relocating to Durham if you prefer. Pros and Cons of a Georgia Retirement. 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. North Carolinas total state and average local sales tax rate is 6.98%,placing it on the ranking of 26 in the nation. Chicago During this time of the year, you must be very careful and mindful in case the state authorities issue any alerts. And the next 10 years are predicted to bring even more growth. Best known for the Blue Ridge Parkway and the Appalachian Trail, the mountains of North Carolina also boast stunning waterfalls, one of the oldest rivers in North America, farm-fresh foods, and even some of Americas best craft beer. What is the property tax in North Carolina? - 2023 The murder ratein the state is 5.8 per 100,000, 10% higher than the national average. One of the most significant drawbacks of retiring in North Carolina is the lack of a public transportation system. Is South Carolina or North Carolina better for retirement? Seriously, Ive had days where the temperature soars to 80F by 8am (I mean, what the heck?). We'd love to hear your thoughts. 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. 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. We offerindependent living servicesat Treeo Raleigh 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 compensates for its affordable cost of living by putting a significant tax burden on its citizens. Please wait a moment and try again. So heads up! The state also offers other generous exemptions on other types of retirement income. For full transparency, we clearly identify our sources in a list at the bottom of each page. During this time of the year, you must be very careful and mindful in case the state authorities issue any alerts. 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. They also appreciate the state's diverse culture, with its many festivals and events. What more could you want in a new community? North Carolina is an overall safe state for you and your family to call home. However, that doesnt mean that crime in the state is non-existent. Even a carefully planned retirement lifestyle may come with unintended consequences. The Appalachian Mountains have a strong folk art and music tradition. How is North Carolina for retirement? - meetbeagle.com Sorry there is a continuing error in our system. Consider leaving a review on Google or Facebook. Thats our promise. Its your time to build your future. The affordable housing prices couples with reasonable property taxes and youll understand why buying a home in North Carolina is a desirable endeavor. North Carolina may not be a state traditionally thought of when it comes to retirement, but its popularity is on the rise. Benefits of Retiring In Virginia (Pros & Cons) | Retire Fearless 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. Oops! However, as with every other state, North Carolina also has quite a few pitfalls that if you can look past, youll love living here.