With some of the countrys best university medical centers in the country, fortunately, North Carolina delivers well in this regard. FAQs As recently as last July, Tropical Storm Isaias (downgraded from hurricane status) pounded the Carolinas before moving into the Northeast. All South Carolina residents 60 and older can attend any state-funded college tuition-free on a space-available basis. Retirees can enjoy beautiful falls and springs without the harsher weather found in more northern states while appreciating nature that ranges from towering mountains to sandy beaches. North Carolina is one of the original thirteen colonies, allowing it to gather a rich history spanning centuries. Manage Your Income Bill and Rhonda Anderson built this 5,000-square-foot home along the Beaufort Riverin South Carolina. Consider these retirement communities in North Carolina: Median monthly mortgage cost: $1,357Median monthly rent: $953. to retire APA Oops! The fact is that not everything is rainbows and butterflies in the Old North State. We appreciate your feedback. The sales tax rate is 6.98%, which falls into about the middle tier nationally. 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. Considering the states population and big cities, North Carolina has an affordable cost of living for many retirees. This guide will take you through the top 10 best places to retire in North Carolina, explaining what makes each of them so great for retirees. Web1. She has written copy for both digital and print pieces ranging from blogs, radio scripts and search ads to billboards, brochures, mailers and more. Retrieved from, United Health Foundation. The last hurricane to touch down in South Carolina was four years ago, when Hurricane Matthew wreaked havoc. Update your browser for more security, speed and compatibility. "Retiring in Charlotte and North Carolina is attractive for older adults due to the overall lower cost of living," says Julian Montoro-Rodriguez, a professor of sociology and gerontology at the University of North Carolina at Charlotte. Cutting spending in retirement may be easier than you think. We get $2,470 a month from Social Security and want a warm, friendly city near the ocean. Published 23 December 22. retirement 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. Go an hour south of Hendersonville and youll reach Greenville, S.C. Its popping up on many best places lists, and if you dont want snow and can handle some humidity, it may be a fit. Seniors account for just 16.40% of the total population. Youll find plenty of fellow retirees here; in Pinehurst, more than 40% are 65 and older, and its still an above-average 26% in Southern Pines. He was one of the first journalists at a daily news organization to aggressively cover retail as a specialty and has been lauded in the retail industry for his expertise. The truth is that North Carolina is one of the most beautiful and fairly reasonable states in the United States. Asheville is noteworthy for its innovative food and beverage scene that uses locally sourced ingredients in creative ways. "The retirement communities take advantage of educational opportunities in retirement and have access to a respected center for the performing arts.". On the downside, Hickory is one of two towns on this list that has a tax burden of 18.60%. William Barber: We Need A "Third Reconstruction" To Address North Carolina may not be a state traditionally thought of when it comes to retirement, but its popularity is on the rise. Read up on how North Carolina taxes retirees and how South Carolina taxes retirees. August 20, 2010. Furman University is in the top quartile of national liberal arts colleges, according to US News, and ranks fifth among most innovative schools.. As for citiesdepending on the type of lifestyle is desiredplaces like Coeur dAlene, Asheville, Louisville, and Columbus are a few places that could be appealing to a retirees lifestyle. Others are the halfbacks, northerners who initially thought Florida would be their retirement destination, landed there, then decided to beat a path halfway back, either to relish the four seasons in the Blue Ridge mountains or enjoy Carolina beach weather less brutal than Florida summers. The majestic Blue Ridge Mountains and Atlantic Ocean beaches draw many retirees to North Carolina. Like almost every other city on this list, it has a tax burden of 18.40%. Whether or not you have access to healthcare programs, insurance, and good hospitals and doctors, is and should be a major factor to consider. While not the most affordable part of North Carolina, Charlotte could feel affordable to many people relocating from other parts of the country. North Carolina has become one of the best retirement states in recent years. Save. For non-personal use or to order multiple copies, please contact With that being said, here are three suggestions for you: You can have easy access to Asheville but be away from the crowds by living in nearby Henderson County. JUNE 21 KEYSHAWN FIRED Maybe "fired'' seems harsh. New research could help investors find their number. Asheville. The safest Vanguard funds can help prepare investors for continued market tumult, but without high fees. When is the best time to make your exit from the workforce? According to an article from Tax Foundation, the spending power of $100 in North Carolina is equal to $109.53. Something went wrong while submitting the form. My wife and I are both 57 and looking to retire at 62. RETIRE TO NC . Leave it in the comments section. About 115,000 people live in the county, including 14,000 in the county seat of Hendersonville, which offers a cute downtown and plenty of chains on the outskirts. One of our content team members will be in touch with you soon. 20 Best Places to Retire in North Carolina - Sunlight Living He covers Medicare and important retirement topics for RetireGuide. 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. Where should we retire? With remote work on the rise, more people are looking for a permanent getaway. 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. Here are the current listings on Realtor.com. North Carolina has a complicated tax system. Newhouse School of Public Communications and a bachelors degree in communications and theater from Hope College. North Carolina Tags: retirement, money, North Carolina, moving, housing market. The city is home to many well-known companies, including the first Krispy Kreme and Hanes Brands, yet it's still affordable to live in this wine-producing region. Whether or not you have access to healthcare programs, insurance, and good hospitals and doctors, is and should be a major factor to consider. In 2018, Bill and Rhonda Anderson went looking for a second homea place to eventually retire. cost 9.8% of ones yearly income. In the past, one of the institutes most popular programs, director Catherine Frank said last fall, was its Creative Retirement Exploration Weekend (it was canceled in 2020 because of the coronavirus; you can join the 2021 CREW Interest List to get more information on the 2021 CREW event). When you want to spend time somewhere busier, Fayetteville is an hour away to the east, Chapel Hill and Greensboro are about 90 minutes away, generally north, and Charlotte is two hours to the west. Smaller town? While it is technically one of the highest-ranking states in terms of taxation, there are a few pretty low taxes. entities, such as banks, credit card issuers or travel companies. I created a few of the these 10 Things lists myself, and this list provides some basic information on what to think about before entering retirement. You can read about Chapel Hill and the Raleigh-Durham area here. 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. We currently have approximately $750,000 in 401(k) and cash. Statewide, the rate is 6%. The answer really depends on what youre looking for in retirement since each state offers different benefits. placing it on the ranking of 26 in the nation. In some places, such as Durham County, you may even have to pay sales tax at the rate of 7.50%. If you knew you would end up in the Carolinas in retirement, you could save yourself the hassle of embarking on your retirement anywhere else. Christian is a former winner of a Florida Society of News Editors journalism contest and has written professionally since 2016. North Carolina's largest city has added 416,369 people over the past decade, according to Census Bureau data. ", Median monthly mortgage cost: $1,602Median monthly rent: $1,162. Weather-wise, the average high in July is 90 degrees. Average Retirement Savings: How Do You Compare? This town holds the distinction of being the first-ever named after founding father George Washington. While those certainly exist, there are also major cities that could make for a fun and active retirement lifestyle. Kiplinger ranks South Carolina as one of the most-friendly states for taxes on retirees. After all, the regions professional hockey team is named, well, the Hurricanes. From the picturesque beach towns to cozy mountain communities, North Carolina and South Carolina offer retirees plenty of incentives. Raleigh, the state capital, could also be a suitable retirement destination that includes many big city offerings without quite as much activity as Charlotte. The details of hurricane deductibles are spelled out on the declarations page of homeowners policies. Retrieved from, Brandon, E. (2021, February 22). In this blog post, we will discuss the 10 best places to retire in North Carolina. However, with your retirement nearing, you dont have to look past this wonderful state. 4). Kiplinger's list of the best candidates for your next financial institution based on interest rates, fees and other features. Like most of the towns on this list, the tax burden is 18.40%. North Carolina may traditionally be thought of by some as a rugged state filled with mountainous communities. Its second in terms of medical centers, with 7.80 per 1,000 residents. As the younger population flocks to the more happening and exciting states, they often miss out on the beauty that is NC. The state also offers other generous exemptions on other types of retirement income. ", Median monthly mortgage cost: $1,419Median monthly rent: $1,073. If you are thinking Now, if you have a creative itch, youll love Asheville. AMY GOODMAN: Bishop Barber, as we begin to wrap up, on another topic, I wanted to ask about your decision to retire from church service. If you knew you would Here are 10 top places to look at if youre Whitesville tops this list in terms of medical centers with 7.98 medical centers per 1,000 residents, so youll never want for healthcare options. Using current listings on Realtor.com, which, like MarketWatch, is owned by News Corp., take a look at homes that are on the market right now. Your money will go far there, helping you to have a full retirement. Silvia Ascarelli is a senior news editor for MarketWatch based in New York. North Carolina If youre planning to retire in North Carolina, you have more than a few reasons up your sleeve to do so. State Individual Income Tax Rates and Brackets for 2020. The research triangle is named for the three research universities in the Raleigh and Durham area: Duke University, North Carolina State University and the University of North CarolinaChapel Hill. Details are available in the Member Handbooks for each system. The city is situated right on the edge of the Nantahala National Forest, so anyone who wants to spend their golden years getting back into nature will have a great opportunity to do so here. #27. Both the Carolinas rank pretty high on the list of potential retirement homes for seniors. Published 14 April 23. Making Your Money Last Simmons, Christian. Nearby small towns are also charming and extremely affordable, including Hendersonville, Weaverville, Black Mountain and Brevard. "North Carolina Retirement." Summer 2021 prices ranged from $333,000 to more than $396,000, but were sold out. Registration fees are waived, too, but there may be an application fee, depending on the college. The average monthly rent for a 2-bedroom apartment in North Carolina is $825, which is much lower than in many other states. We are looking to get out of New Jersey for obvious reasons. But one mountain city that stands out is Asheville. "The lifestyle in the Yadkin Valley is still rural and slow-paced but studded with small towns and beautiful vineyards.". Aside from the ocean, Whiteville retirees will also have access to a branch location of the North Carolina Museum of Natural Sciences. Have a question? We are not looking at areas near the shore. There are more than 350 courses in South Carolina, according to DiscoverSouthCarolina.com. Andrew and Lynn Lazar, for instance, sold their longtime home in Hillsborough, N.J., and landed in Latitude Margaritaville Hilton Head, in Hardeeville, S.C., last year. Our team works hard to recommend the best products for your needs. Retirement might seem far away, but planning early can ensure a comfortable life. North Carolina Movoto ranked 3 Triangle-area towns in the Top 5 Places to Retire in North Carolina: Morrisville, Apex, and Holly Springs. Christian Simmons is a writer for RetireGuide and a member of the Association for Financial Counseling & Planning Education (AFCPE). What to Consider When Looking for the Right Place to Retire. Is Walgreens Senior Discount Every Tuesday? This trail starts from Georgia and passes through North Carolina, making it all the way to Maine. Median monthly mortgage cost: $1,178Median monthly rent: $790. Distribution and use of this material are governed by 10 Best Places to Retire in North Carolina - My Caring Plan It has an old town feel and is very affordable, giving older adults the chance to retire in a charming town with great scenery. 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. Aging in America Rankings. Get instant access to our latest in-depth guides covering important retirement topics. "Retirees are drawn to Greensboro because of its centralized location and because it's a midsize city with a small-town feel. 9 Things You Must Know About Retiring to Arizona. If retiring to North Carolina is your dream, youll want to start saving early. And in a sign of North Carolina's battleground status in 2024, former President Donald Trump, Florida Gov. Once a center for the tobacco industry, the Winston-Salem economy is now more diversified. 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 the University of North Carolina, as well as the states community colleges. Theres natural beauty Falls Park on the Reedy gets lots of raves, and youre in the foothills of the Blue Ridge Mountains. Theres essentially something for everyone. 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. An unexpected historical site just outside of Hendersonville is poet Carl Sandburgs house, now a national historic site. How to tell if a retirement spot will be a good fit. 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. His unique blend of business and writing backgrounds has equipped him to understand complex retirement topics and convey that information in an informed and easily digestible way. 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. Retrieved from, Missouri Economic Research and Information Center. When our granddaughter was born we pulled the trigger and moved forward with our plans to retire and move to our permanent vacation! The Hammons purchased a one-bedroom condo a block from where they rented more than 10 years ago, when they were still living and working in Virginia. Biden campaign eyes North Carolina to reshape 2024 electoral map Stock Market Today: Dow Snaps Losing Streak on Strong Economic Data, The Best Credit Cards to Use When Renting Cars, Frequent Flyer Tax Could Raise Billions for Climate, The Best Places to Visit Where the Dollar is Strong, The 5 Safest Vanguard Funds to Own in a Bear Market, New RMD Rules: Starting Age, Penalties, Roth 401(k)s, and More, How 12 Types of Retirement Income Get Taxed, Retirement Accounts You Should Withdraw From First, the most-friendly states for taxes on retirees, more than two dozen retirement communities, several dozen active adult retirement communities, The region straddling the North Carolina-South Carolina border that includes. 3 min read. Youll have plenty of natural beauty given that Hendersonville is at the edge of the Pisgah National Forest and between the Smoky Mountains and the Blue Ridge Mountains. We are looking in both North Carolina and South Carolina to retire. The Biden campaign is already running television ads in the state. Theres no inheritance or estate tax, and property taxes are on the low side: For homeowners 65 and older, the state's homestead exemption allows the first $50,000 of a property's fair market value to be exempt from local property taxes. Try these free tools that will help you determine the retirement age to start Social Security. Jim Barnash is a Certified Financial Planner with more than four decades of experience. We do not need a lot to survive and live well within our means. Asheville is a scenic mountain town nestled in the Blue Ridge Mountains. Median housing costs are slightly below the U.S. median. SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. Securities and Exchange Commission as an investment adviser. SmartAsset can help you find an advisor who is a good fit with our, One part of your retirement income will be Social Security. The Republican-controlled North Carolina General Assembly made several last-minute changes to the 12-week abortion "For retirees seeking life in breathtakingly beautiful mountains, Asheville is no longer a secret. Retirefearless.com is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon. Overall, North Carolinas health care is not bad by any means, but its also not close to the states in the top tier. 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. Million To Retire (And Other North Carolinas crime rate almost matches the national average. With an elevation of 2,200 feet, snow should be light while summer temperatures peak at an average of 85 degrees in July. (n.d.). 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. 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. It has the second-highest number of medical centers per 1,000 residents on this list with 3.58 medical centers. A North Carolina man will use his huge lottery prize to take his wife to Europe. Visit our corporate site. Next door, to the northeast, is Spartanburg County with more than 300,000 people. "North Carolina Retirement." Both of those are key areas for seniors and certainly good news. Is South Carolina or North Carolina better for retirement? 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. Healthcare is a massive concern for those looking to move to another state, especially retirees. Sports fans can enjoy minor-league baseball and hockey. Best Parent Student Loans: Parent PLUS and Private. Many areas in the Carolinas qualify as nice and affordable with low taxes and low crime, so you may want to spend more time thinking about what else youre looking for. With some of the countrys best university medical centers in the country, fortunately, North Carolina delivers well in this regard. Healthcare is a massive concern for those looking to move to another state, especially retirees. We want to retire to Florida or a Florida-type atmosphere and buy a condo with lots of amenities for $250,000 where should we go? Fox News said to have settled with Tucker Carlson producer for $12 million, A breakfast-cereal giants grumbles about prices could be music to the Feds ears, These are the best-performing stocks in the 2023 bull market and the worst, She makes more than $10,000 a month through real estate, Dont become a landlord own these REITs instead, The unexpected group the Supreme Courts student-loan decision impacts, Why retirement savers need the Supreme Court to uphold the student-loan forgiveness plan. The Biden campaign is already running television ads in the state. The Best Places to Retire in North Carolina - U.S. News 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. Yup. 10 Best Places to Retire in North Carolina - Travel Youll have to apply for enrollment to the school you are interested in attending, and youll be on the hook for any course fees, textbooks and other mandatory materials. Weve been vacationing here at Ocean Isle Beach since 1985, Frank Hammon says. Brevard leads this list in terms of recreation centers, with 1.83 recreation centers per 1,000 residents. The Carolinas Are a Popular Halfback Destination. 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. Cape Carteret. They missed their New Jersey family and friends -- and good pizza. The city of Asheville and the surrounding area of western North Carolina have long attracted retirees for the natural beauty, welcoming vibe and active lifestyle. All Rights Reserved. Mike Fisher Jun 21, 2023 4:40 PM EDT In this story: Dallas Cowboys JUNE 21 KEYSHAWN FIRED Maybe "fired'' seems harsh. Median monthly mortgage cost: $1,195Median monthly rent: $846. The mountainous regions in the state experience humid days in the summer and pretty cold temperatures in the winter. Hurricanes are always a lurking threat for those living along the eastern seaboard, and unfortunately, they can potentially wreak havoc on the residents lives. And in a sign of North Carolina's battleground status in 2024, former President Donald Trump, Duke University even has a continuing care retirement community near campus. We'd love to hear your thoughts. There are no guarantees that working with an adviser will yield positive returns. One of the most significant drawbacks of retiring in North Carolina is the lack of a public transportation system.
