Charlotte, North Carolina Self-Directed IRACharlotte, North Carolina Self-Directed IRA

How would you like to retire in a place that Forbes listed as number 8 on its list of the “next biggest boom towns in the U.S.A.”? We’re talking, of course, about Charlotte, North Carolina, a modest, attractive, low-cost city that’s attracting retirees from all over the United States because of its almost near universal appeal–and because of its financial advantages. But to retire there, you’ll also want to think about another phrase: the Charlotte, North Carolina Self-Directed IRA. After all, retirement doesn’t just happen to you: you have to make it happen.

But why retire in North Carolina, and what is it about Charlotte that will make you want to take the reins of your own financial destiny? We thought you’d never ask.

Know Your City: Why a Charlotte, North Carolina Self-Directed IRA Might Be Right For You

If you’re from out of state, you likely associate Charlotte with sports: it’s the home of the Charlotte Hornets, the Carolina Panthers, and two NASCAR Sprint Cup Races. But there’s more to this city than just sports: according to Forbes, it has some of the lowest prices around, which means it’s perfectly suited for anyone considering retiring who also wants to stretch every dollar of their retirement budget.

Here are some of the essential demographics of Charlotte to keep in mind:

  • Population: 809,958
  • Housing units: 319,918
  • Median household income: $52,375
  • People 65 and older: 8.5%

Know Your Self-Directed IRA Options

What is a Self-Directed IRA? Simple. A Self-Directed IRA is a retirement account–with the same advantages of retirement accounts of the same type–that you manage yourself. This means that you can use a Self-Directed IRA to invest in a whole range of investment types, from real estate and commercial real estate to private companies and precious metals. Many people will use a retirement account invested in real estate in order to generate themselves a retirement income with the rent, for example.

It’s worth noting that the same retirement accounts–Roth IRAs, 401(k)s, etc.–can be self-directed. You’re free to choose what you invest in when it comes to retirement accounts–after all, it’s your money. If you plan on retiring and investing in Charlotte, North Carolina, you may want to think about these types of retirement accounts in your portfolio–and ponder what kinds of advantages you might have if you do decide to retire there.

Tax and Financial Considerations in Charlotte, North Carolina

What kind of tax benefits–or costs–might come from retiring in Charlotte (and therefore in North Carolina)? Let’s look at some of the most pertinent facts:

  • A flat state income tax rate of 5.8% put into action in 2014 means that retirees won’t have to worry about a drastic state income tax eating into their wealth. What’s more, social security income is exempt from state taxes, which is a major advantage to retirees who want to get as much out of their social security dollar as they possibly can.
  • Housing prices are highly favorable, as well, which means that you can stretch that retirement dollar even more. With a median home cost of $146,700 in 2015 across the state, you can expect that you can live in or near Charlotte without having to break the bank. In fact, moving from an area with high real estate prices to North Carolina can afford you a handsome profit. If you want more details about Charlotte-specific home prices, we recommend checking out some facts at Trulia.
  • Wealth protection in North Carolina is also favorable to retirees, even offering a portion of home equity even when you’re forced to pay creditors. Workers compensation and unemployment benefits are also exempt from creditors’ jaws.

With low costs, low taxes, and plenty of wealth protection, it’s clear that Charlotte–and by extension, North Carolina–is highly favorable to retirees.

Benefits of Retiring in Charlotte, North Carolina

One Forbes list put Charlotte, North Carolina as the “fourth happiest city for young professionals,” but don’t think that that goodwill doesn’t extend to retirees. There’s a reason that Charlotte is also one of the fastest-growing cities in the United States: people are waking up to the southern charm that is Charlotte, avoiding the more oppressive heat of Florida, and enjoying the city as a great merging of metropolitan value with access to country charm.

If you’re interested in retiring in Charlotte, North Carolina, a Self-Directed IRA might just be the way to go. Not only does it allow you to build up wealth on your terms, but it’s a great way to ensure flexibility if and when you do decide to move. If you have any questions about Self-Directed IRAs, be sure to contact us at 1-866-7500-IRA(472) or continue browsing our site here at to learn more.




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