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JG Wentworth is well known across the country for its structured settlements, and was first founded in 1991. 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. encounter a violent crime, and 24% encounter a property crime, with the overall crime rate being 28.72. 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. Besides housing, the state also offers comparatively cheaper food options than other states like New York State or Washington State. Residents have over 200 state parks to explore, including Mount Rogers National Recreation Area and Great Smoky Mountains National Park. Durham. Insurance is often more expensive in rural areas, and there are fewer providers to choose from. According to an article from Tax Foundation, the spending power of $100 in North Carolina is equal to $109.53. Many of the mountainous small towns typically come with very low costs of living. According to WRAL, there are also several small mountain towns scattered throughout the state that can also appeal to retirees. 2023 Retire Fearless. 4.3. Sauna-quality humidity (yay!). Where do most retirees live in North Carolina? If you fancy yourself a city-dweller, you wont be disappointed either. Let's look at some pros and cons of retiring in North Carolina to see if it could be the right state for you. 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. (n.d.). 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. North Carolina does have a low corporate tax rate, making it more business-friendly. The report noted that North Carolina had several health pros including good flu vaccine coverage and a low prevalence of falls. Retiring in North Carolina Is North Carolina a good place to live? Something went wrong while submitting the form. Many of our outpatient clinics are located near Mission Hospital, right in the center of Asheville. Want to Retire in North Carolina? Residents 65 and older can deduct up to $12,000 per person of retirement income, subject to income-eligibility limits. 25 Pros And Cons Of Living In Greenville SC (Updated 2023) - Home Mindset Here are the pros and cons of retiring to Asheville, North Carolina. 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. In any case, having daily access to mouthwatering BBQ is one of my favorite things about living in North Carolina. Unfortunately, North Carolina is located in an area susceptible to hurricanes. However, some of my friends have shared stories of woe, especially when searching for white collar jobs they could advance in. On the other hand, some people find the cost of living in North Carolina to be . 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). Estimate how long you'll live and explore retirement options for a long life. They also have higher than average property tax rates. There aren't enough regular buses, trains, and other means of transportation to allow you to travel and explore different areas of the state. . It was also named the top hospital in the state by Business North Carolina in 2017, 2018, and 2019. Forest City. However, that doesnt mean that crime in the state is non-existent. Not to mention the plethora of problems that arise when humidity becomes a part of your daily life. How is North Carolina for retirement? - meetbeagle.com 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. 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. Theyre non-negotiable in my book because they prevent things from molding overnight. 20 Pros and Cons of Living in Raleigh, NC - Vittana.org So, if you move to North Carolina, youll be saving quite a bit on your monthly cost. Thinking about living in North Carolina? Christian is a former winner of a Florida Society of News Editors journalism contest and has written professionally since 2016. Alissa has been working in marketing and the senior living industry for over ten years. All rights reserved. North Carolina cost of living is 90.6. Whether or not you have access to healthcare programs, insurance, and good hospitals and doctors, is and should be a major factor to consider. For instance, if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[336,280],'retirefearless_com-large-leaderboard-2','ezslot_15',113,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-large-leaderboard-2-0');Duke University Hospital is among the best in the country. The coastal region is where you'll find the Outer Banks plus the miles of the Atlantic coastline. Regardless of your preference, both city and rural life have an overall laid-back quality about them that I havent seen in other places Ive lived. For anyone trying to find affordable senior housing in Indiana, there are some good options to choose from around the state. The Lively Music Scene #5. Overall, North Carolinas health care is not bad by any means, but its also not close to the states in the top tier. 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 Youve come to the right place. You havent lived until youve tasted the irresistible temptation that is vinegar barbecue, its life-changing. However, as required by the new California Consumer Privacy Act (CCPA), you may record your preference to view or remove your personal information by completing the form below. District of Columbia costs $2,324 to rent. Thank you! This can be attributed to a number of factors, including a lack of providers, transportation issues, and a lack of insurance. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Sign up for helpful guides, interesting topics, and tips from locals. The Friendly Community Feeling #6. Healthcare is a massive concern for those looking to move to another state, especially retirees. North Carolina is certainly an interesting state. Posted by Preston Guyton on March 3, 2023 . 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. 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. Raleigh and Durham. The EBNC is The Eugenics Board of North Carolina. This area is famous for its beaches, lighthouses, and wildlife. This trail starts from Georgia and passes through North Carolina, making it all the way to Maine. Retrieved from, Brandon, E. (2021, February 22). The fact is that not everything is rainbows and butterflies in the Old North State. After all, this state has a lot to offer. While those certainly exist, there are also major cities that could make for a fun and active retirement lifestyle. When you think "retirement destination," North Carolina may not be top of mind. Christian Simmons is a writer for RetireGuide and a member of the Association for Financial Counseling & Planning Education (AFCPE). Therefore it becomes challenging to get from one place to another without a vehicle. North Carolina compensates for its affordable cost of living by putting a significant tax burden on its citizens. However, it does so at a reduced rate, with almost 2% on most food. Unlike most other states, North Carolina taxes groceries. 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. Retrieved from, U.S. News & World Report. Still, its worth pointing out, especially for those looking to grow their careers after moving to North Carolina. You will need to invest in a car to get the most out of living in North Carolina. Your email address will not be published. The cost of living index for Myrtle Beach is 93, which means that it's 7 percent cheaper than the national average. Contact us today to get started. When it comes to retirement, there's a lot to consider. The rolling landscape is dotted with lakes and reservoirs. 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 of those are key areas for seniors and certainly good news. 8 Things You Must Know About Retiring to the Carolinas The Pros and Cons of Retiring to Alabama Have you been thinking of retiring to Alabama? Besides the beautiful scenery, North Carolina offers a mild climate and plenty of amenities that make it attractive to retirees. Retiring in Asheville, NC: Reasons, Best Places & More! But I dont want to fool you, its not all sunshine and peach cobbler gossip runs rampant in the rural parts of town and youll need to be mindful of the tea youre spilling. North Carolina's rich history influences much of the cultural scene. North Carolina is a retiree's paradise when it comes to outdoor recreation. You can just as easily find a charming apartment in the city or a farmstead, if you so choose. 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. Required fields are marked *. The. Williamston. 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. In some places, such as Durham County, you may even have to pay sales tax at the rate of 7.50%. But before I get some sassy remark, allow me to explain. Is South Carolina or North Carolina better for retirement? This can be attributed to several factors, including a lower-than-average cost of housing. There are several prominent health care systems throughout the state that have been nationally ranked for different specialties, including cardiac surgery; rheumatology; ear, nose, and throat; and cancer. As the younger population flocks to the more happening and exciting states, they often miss out on the beauty that is NC. 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. South Carolina Low Cost of Living. Its true, but this point warrants a deeper dive. Find many museums, including the North Carolina Museum of Art and the Asheville Art Museum. Pros of living in North Carolina 1. Is it better to retire in South Carolina or North Carolina? - 2023