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Old 12-31-2016, 04:55 PM
 
Location: Conway
711 posts, read 592,060 times
Reputation: 239

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Should I move from North Charleston SC to Winterville NC? What are the pros and cons?

We are retired and would like to move to a one story house.
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Old 01-01-2017, 10:31 AM
 
133 posts, read 111,896 times
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You are a retiree. What are the tax implications of moving from South Carolina to North Carolina? The two states treat retirees differently, so you could find yourself with significant changes in taxable income. That is research you need to do for yourself based on where your income comes from.

Do you live primarily off of Social Security benefits? A private pension? A government pension? 401k income? Roth IRA income? Traditional IRA income? Do you keep most of your money in cash? A savings account? Bonds?

As a 30 year old, I find North Carolina treats the working man a lot better than South Carolina does. NC drastically overhauled their entire tax structure a few years ago. SC's income tax is brutal while NC is moving to a much more fair use-based tax situation. Retirees may be a totally different situation. You could be significantly changing your taxable income situation, and only you can determine that.

I strongly suggest you do A LOT of research. SC is generally regarded as much friendlier toward retirees, so you could be taking a big hit by moving North and starting off in the hole. Unless...you are structured uniquely, which most retirees don't take the time to structure their assets in a tax-advantaged way, unfortunately.

https://smartasset.com/retirement/no...tirement-taxes

https://smartasset.com/retirement/so...tirement-taxes


Then there is the fact that you're moving from a location that "has it all" to a location that has considerably less of the "big chains." How important is trendiness to you versus a slower pace of life?

What about property values? Demographics? Road quality? Population density?

All of these things only you can determine.
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Old 01-03-2017, 06:55 AM
 
6,800 posts, read 4,457,082 times
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No one can possibly answer a question that broad and vague. You've posted many times about moving to many places, including Greenville/Winterville, and have received much information. What specifically do you need to know that you haven't already been told? Have you visited Greenville/Winterville?
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Old 01-03-2017, 07:31 AM
 
1,022 posts, read 1,004,818 times
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No.
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Old 01-03-2017, 08:33 AM
 
Location: Conway
711 posts, read 592,060 times
Reputation: 239
Quote:
Originally Posted by BC1960 View Post
No one can possibly answer a question that broad and vague. You've posted many times about moving to many places, including Greenville/Winterville, and have received much information. What specifically do you need to know that you haven't already been told? Have you visited Greenville/Winterville?
No not yet, we were going to stop on the way back from visiting my daughters in Virginia this past week but then I came down with the damn bug and went straight home.

On the way up we stopped in the Durham/Raleigh area for three days and looked around and it seem like a really nice area. I think the cost of new homes is really out of my budget up in that area. I don't want to be cash strapped since most likely I will not be working.

Thanks for the input.
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