The Cost to Retire in Comfort in North Carolina
It’s everyone’s dream to retire in comfort and not have to worry about anything, really, in those golden years. Those later years in life after you’ve put in decades of…
It's everyone's dream to retire in comfort and not have to worry about anything, really, in those golden years. Those later years in life after you've put in decades of work should be filled with fun adventures, whether it's traveling or just enjoying doing things that you didn't do while you were working. So, how much does it cost the average person to retire in the state? A new report indicates what residents should expect.
How Much a Comfortable Retirement Will Cost in North Carolina
So, when does the average person retire? According to Zippa, the average age of retirement is 64.7 for men and 62.1 for women. "Most of us look forward to the day we can kick back and relax in our old age. However, it can sometimes seem like the retirement age is being pushed back further and further," Zippa notes in their piece.
Another interesting fact is that the average age of retirement has increased over the years, and it's up from age 57 in 1991, according to CNBC. Finally, the expected age of retirement has increased from age 63 in 2002 to 66 in 2022, The Motley Fool notes.
The CNBC post notes, "According to a new Gallup survey, which interviewed 1,018 adults in the U.S., the average reported retirement age has increased from age 57, where it was in 1991, to age 61 in 2022. The survey also showed that individuals’ planned retirement ages increased as well, from age 60 in 1995 to 66 in 2022, revealing a trend in which people are retiring later and expecting to work longer."
Now, let's get to our state. Nasdaq.com has a new feature out about the cost to retire in each state. "GOBankingRates reviewed each state’s population ages 65 and over, the cost-of-living index from Q1 of 2025 and the national average costs for retirees," they note in the piece, which is syndicated.
For North Carolina, they note that the comfortable retirement cost for two annually, without Social Security, is $51,278. Also, the comfortable retirement cost for two annually with Social Security is $15,747. Also, according to the article, West Virginia is the top affordable state for a comfortable retirement, which is a fun fact. Contact me with your thoughts.
