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The problem, however, is that a lot of new arrivals are retired people who won't be working and people with menial jobs (not, including the $56k/ yr jobs at MetLife). Thus, the new additions don't add much to the economy.
Hmm. Real retirees who also relocate usually have access to significant financial assets that are far greater than the average person in the USA.
I continue to contend however that NC's tax situation along with the tax policies of Charlotte/Mecklenburg are not friendly to retirees. IMO, most, with assets, will go to states that are.
What a random time frame, 2007-2011. This also doesn't take the new metro configuration into account, which puts Charlotte's MSA at around 2.3 million.
But this was just changing lines on a map. Just like the Triangle's metro getting split into two pieces.
Hmm. Real retirees who also relocate usually have access to significant financial assets that are far greater than the average person in the USA.
I continue to contend however that NC's tax situation along with the tax policies of Charlotte/Mecklenburg are not friendly to retirees. IMO, most, with assets, will go to states that are.
I am a retired military field grade office along with other things. I chose N.C. over S.C. because I do not pay state income tax on my military retirement pay. That is not the case in S.C. There are some professions for which retirees don't pay state tax at retirement time. Other than that, taxation is about average and a bit better than the states larger than N.C. So, N.C. is as retirement friendly as any other state where retirees pay state income tax. The advantage is the savings in utilities, insurance premiums, and property tax.
.... So, N.C. is as retirement friendly as any other state where retirees pay state income tax. The advantage is the savings in utilities, insurance premiums, and property tax.
Most retirees are not in the military and IMO, the state should make the exemptions the same for all.
If you have a private pension then NC only exempts $2000. SC exempts far more than that. Fla doesn't tax it at all. If you live in Charlotte, then there are substantial property taxes, sales taxes and a host of other fees that are regressive against people on retirement.
But this was just changing lines on a map. Just like the Triangle's metro getting split into two pieces.
It was more than just changing lines on a map; it was a reflection of higher commuting patterns that are happening in real life. Incidentally, some of those counties were previously included in the MSA before the 2003 revisions.
At any rate, I was just saying that the MSA definition as indicated by population isn't up to date.
Hmm. Real retirees who also relocate usually have access to significant financial assets that are far greater than the average person in the USA.
I continue to contend however that NC's tax situation along with the tax policies of Charlotte/Mecklenburg are not friendly to retirees. IMO, most, with assets, will go to states that are.
Hmm.
Wealthy people from NY, Boston, Chicago, etc spend the winter in South Florida after they retire. Retirees that come to Charlotte from NYC area, for example, tend to be cops, firemen, mass transit workers, etc. whose pensions have greater value in an inexpensive place. They sell their shacks in Nassau Cty for $600k and buy a new 5k sf house in Union County for the same $600k. However, as blue collar retirees, they're not adding a lot to the economy.
Charlotte's increase in population is not because its economy is booming and people are coming for great jobs, which would further grow the economy.
.... Retirees that come to Charlotte from NYC area, for example, tend to be cops, firemen, mass transit workers, etc. whose pensions have greater value in an inexpensive place. .....
You obviously are not familiar with the pensions of NYC cops. They will hardly be a drag on the economy and your generalizations are nonsense.
BTW, wealthy people no longer retire in S. Fla. That was what they did 50 years ago. Many DO come to NC. This IS what they do now.
Most retirees are not in the military and IMO, the state should make the exemptions the same for all.
If you have a private pension then NC only exempts $2000. SC exempts far more than that. Fla doesn't tax it at all. If you live in Charlotte, then there are substantial property taxes, sales taxes and a host of other fees that are regressive against people on retirement.
SC is winning with retirees in places like Hikton Head, Myrtle Beach, Beaufort.....
You obviously are not familiar with the pensions of NYC cops. They will hardly be a drag on the economy and your generalizations are nonsense.
BTW, wealthy people no longer retire in S. Fla. That was what they did 50 years ago. Many DO come to NC. This IS what they do now.
In reply to your statement, "You [sic] obviously not familiar with the pensions of NYC cops," I am. I lived in NY for many years.
Moreover, wealthy people from NY, for example, don't leave places like Scarsdale, Great Neck, and Centre Island, to move into far lesser quality homes on largely treeless lots in Weddington Chase, the Chimneys of Marvin, or Hollister. They stay in NY in the summer and spend the winter in $1m+ properties in Florida. Blue collar workers, by contrast, now choose the Carolinas over Florida because their money goes much further here.
The survey is actually Bloomberg finance and not Yahoo - just to clarify.
I think Charlotte is definitely on the upswing as witnessed in the number of building projects, company relocation recently to here, and population growth though I say that based more on 2011-current more than the 2007-2011 years of the survey (which I think they chose because that was the main period of the recession so they wanted to see what cities were still growing in that period.)
Though the legacy economic driver, Charlotte is more than banking and finance though as a lot of energy and tech companies as well as a few manufacturers have begun to set up either operation bases or divisional/ U.S./national headquarters here.
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