Make the Most of Your Money in Retirement


Most all of us want to know how to make the most of our money in retirement.  People nearing retirement age naturally are concerned about having enough money in retirement.  Money in Retirement North Carolina and South Carolina Best Places To Live

So many conversations and reasons for moving to North Carolina or South Carolina are about the cost of living.

In our later years, we don’t want to have to work.   However, we want to be able to live a comfortable life-style.  A lifestyle similar to the one we’ve led prior to retirement.

Retirement is never as cheap as people think.  And having enough money in retirement is important.

As Social Security benefits grow less and less secure, and as Medicaid covers less and less, a savvy retiree must make the most of their money to ensure they can live as well as possible.

You’ve worked hard all your life and you should be able to enjoy your retirement as much as possible.  So with a little planning you can set yourself up to do so.

When thinking about making a move  and finding your best place to retire in North Carolina or South Carolina, making the most of your money should be a primary goal.

Yes, we may want to move for the climate or to be closer to family however in the end the place you decide is your best place to live needs to be just that.  All things considered.

The largest chunk of any person’s cost of living is their primary residence.  Real estate costs usually eat up more than any other category of our budget.  Especially when you factor in real estate taxes, school taxes, and maintenance.

A growing trend of retirees is to rent a home and choose to put the money intended for a down payment  into a growth account to supplement their income.

Still other retirees opt to move to the states with the least amount of real estate taxes possible.  States with homestead exemptions, which includes South Carolina.   State and local taxes are relatively low in both North Carolina and South Carolina.  Hence making the best places to live in the Carolinas much talked about by those reaching retirement age.

Retirement is supposed to be a time of our lives to enjoy free from stress and worry.

North Carolina and South Carolina Best Places To Live Retire Or RelocateUltimate Guide To Finding Your Best Places To Live In The Carolinas

Make Your NC and SC Dream Come True!

With an affordable cost of living, lower housing costs and great climate…why wouldn’t you consider North Carolina or South Carolina as your best place to live?

Even with lower housing costs and an affordable cost of living, being smart and choosing your best place to live in North Carolina and South Carolina can save you even more money.

Which means…you guessed it…more money to do all those things you’ve been waiting to do.

Some of these suggestions you may already know about.  Some you may have just forgotten in all your excitement to begin your new life.  Don’t worry, take a moment, relax and enjoy the read.

  • Living outside the boundaries of incorporated cities and towns can help lower your tax bills substantially.
  • Pay attention to the school taxes and insurance rates for the area you choose
  • Living near the coast or in a flood plain may not make much sense to you when it’s time to pay the insurance premiums.  Living near or on the water comes with some significant insurance premiums.
  • Transportation – Are you planning on having a car?  Is your car older or are you going to be purchasing a new one soon.  Choosing a reliable, safe, and inexpensive car becomes easier every year.
  • There are so many to choose from and maybe you want to consider a car with great gas mileage.  Living in most parts of North Carolina and South Carolina, cars last longer and need less maintenance if you’re used to harsh winters.
    • If you choose to keep a car, it may not be your last and you will have the expense of gas, repairs and Insurance.
    • And while I hate to say it, make sure your best place takes into consideration if and when the day comes you no longer can or want to drive or own a car.  What type of support will you need?
  • You may want to consider choosing your best place in a city or town where you don’t have the need for a car.  A walkable community or area with good public transportation.
    • If you were to live in a city, you’ll need to compare the increased cost of housing and public transportation with those of owning a car.
  • I don’t like to be the one to tell you this, but…. as we get older, we have higher healthcare costs. It’s just the way it is.  Thankfully, you get to choose your best place to live and make sure it’s a place where you can bring down your healthcare costs.
    • Geographical areas are not created equal when healthcare is concerned.
    • Depending on the area you pick, it can save or cost you thousands a year for healthcare.  Make sure to do your homework in North Carolina and South Carolina and pick the best area for you.
    • Overall,  the Carolinas have excellent health care facilities.
    • North Carolina is home to four medical universities and South Carolina has a medical college in Charleston, SC.   And there are major hospitals in Columbia,SC and Greenville,SC/Spartanburg,SC.
  • Another highly variable factor eating into your retirement fund is income tax.  Some states have no state income tax, but they may have high costs of living which offset the gains.
  • In both North Carolina and South Carolina Social Security benefits are exempt from taxes. Take a careful look at all the factors before deciding on North Carolina or South Carolina.
    • Visit for North Carolina tax information, and for South Carolina tax information.

There are plenty of other areas you control affecting your bottom line in retirement but have you considered…

  • Food expenditures are a large expense
  • Selectively choosing your recreation can also save you a lot of money.

You can still have fun, without breaking the bank.

The bottom line here is you’re in more control than you think.

Do some research, find a best place to live in North Carolina or South Carolina that makes sense for you!

Best Places To Live In The Carolinas Money Matters:

Best Places To Live In The Carolinas ExpertAbout The Author

Robert Bencivenga is a professional site locator and location analyst for major corporations. Robert researches the growth of NC and SC to find the Best Places to Retire or Relocate that are still affordable.

Robert Does Not Sell Real Estate!
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