Tags: Retirement | retirement | North Carolina | cost of living

Retirement Cost of Living in North Carolina

By    |   Thursday, 11 June 2015 03:57 PM

It's no secret that the "Golden Years" shine brighter with more gold. Alternatively, spending less of one's generally fixed income in retirement reduces anxiety and stress. In North Carolina it is possible to have a little extra after paying for a roof over your head, three meals a day, and little luxuries such as water, electricity and transportation, to leave you free to engage in healthful recreational and social activities. Those considering retirement may have financial questions as they seek out pleasant places to live that are still affordable. State after state touts itself as the best retirement spot for a number of reasons, and North Carolina is no exception.

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It's not a bad choice. Although it's not the least expensive state to live in, it has moderate weather, a steady economy, charming towns, a long seacoast, and a strong sense of community. While food and health costs are a little higher than the U.S. average, housing costs are very low—and this is important to retirees who have cashed out the equity in expensive hot-economy cities and don't want to roll the whole wad over into yet another house somewhere else. North Carolina's low housing costs, combined with low personal and property taxes, mean that you'll have plenty left over after selling your San Francisco Victorian, Manhattan condo, or Los Angeles dream house, to enjoy yourself in North Carolina.

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North Carolina's overall cost of living is 95 percent of the U.S. average, which doesn't seem like a big advantage, but its housing costs are only 85 percent of the average, with utilities and transportation slightly lower as well. While overall, Bankrate.com lists North Carolina as the 24th best state to retire to (Wyoming is at the top, and low-cost but crime-ridden Arkansas at the bottom), the Tar Heel State has one of the most even rankings on the list, While Bankrate may feel that Wyoming has better weather – perhaps hurricanes are more desirable than freezing winter to some prospective retirees, especially if they settle farther from North Carolina's low-lying seacoast – its shorter distances between cities and compact towns make residents less dependent on car travel, another factor of importance to retirees that is ignored by Bankrate.

Overall, it’s a good place to go to when you're old, especially if you want a taste of southern charm at bargain prices.

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It's no secret that the Golden Years shine brighter with more gold. Alternatively, spending less of one's generally fixed income in retirement reduces anxiety and stress.
retirement, North Carolina, cost of living
Thursday, 11 June 2015 03:57 PM
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