U
U.S. ARMY SGT. MAJ. RICK GATIEN retired to the rural
countryside near Lake Tillery, N.C., fi ve years ago. Given that
Gatien is a native of New Smyrna Beach, Fla., his choice of re-
tirement location might seem unexpected, but in recent years,
North Carolina has been giving Florida a run for its money
attracting retirees. Today, North Carolina ranks just below
Florida and Arizona in popularity as a retirement state.
“I spent a lot of time in North — and the beginning of the coastal is among the fastest-growing and
Carolina while in the service,” says areas, just east of I-95. Surveys by most popular metropolitan areas in
Gatien, who worked more than a sources such as
CNNMoney.com the Piedmont. All three are urban
decade at Fort Bragg. “I knew North have ranked Charlotte as a top retire- areas with access to amenities and
Carolina had a lot of positives. ment city. The Raleigh/Durham/ recreation — and correspondingly
There are close to 1 million retirees Chapel Hill Research Triangle also are more [CONTINUES ON PAGE 60]
in this state.” Gatien would know —
he works as a state veterans service
offi cer with the North Carolina Di-
vision of Veterans Affairs. Gatien
What Does It Cost to Live Here?
especially appreciates being a resi- a73 NNorth Corth Carolina’olina’s cs cost of living and s of living and statate te tax benefitax benefitss ar aree friendly t friendly to
dent of the North Carolina Pied- reetirtireeeess, which might e, which might explain whxplain why the sy the statate has bece has become a popular placome a popular place e
mont, in the central region of the to rreetirtire. All North C All North Carolina citieolina cities that participats that participatee in the A in the ACCCRRAA c costt-of-of-
state. “I like the state’s diversity,” lliving indeiving index (x (COLI) meOLI) measurasurement boasement boastt C COOLIs wLIs weell under the national ll under the national
he explains. “From here, I’m close aveerraagege, 100, 100. Charlott. Charlotte, ffoor er exaamplemple,, has a C has a COOLI of 9LI of 92.7, while Durham , while Durham
to the coast and the mountains.” hhas a Cas a COLI of 90OLI of 90.4.
Gatien isn’t alone. Hundreds AAll militll military rary reetirtireement pament payy in North C in North Caroolina is elina is exeempt frmpt from som statate e
of thousands of retirees who have taxess if the individual had fiv if the individual had five ye yearars of crs of crediteditable servicable service as of Aug. 12, e as of Aug. 12,
fl ocked to the Piedmont regions of 1198989. All other milit All other military rary retiretirement paement pay or survivy or survivoor benefit par benefit payy is eligible is eligible
North Carolina and neighboring foor r aa $$4,4,000 000 deducdeduction. tion. Social Social SecuritSecurity y incincome ome also also is is exempt empt frfrom om statate e
Virginia are attracted to the mild taxess. North C. North Carolina’olina’s sales saless t taax is 4.25 perx is 4.25 perceent.nt.
climate that still offers four seasons
and the region’s access to trendy a73 TThe moshe mostt popular plac popular places t to r retiretire in Ve in Virginia’ginia’s Piedmont cs Piedmont can be prican be pricey. .
metropolitan areas, educational CCharlottharlottesvvilleille,, which is attr which is attraaccttivivee t to rreetirtireeeess bec becaause of ituse of itss man manyy cultur culturaal l
facilities, loads of attractions, and oofffeerings and acrings and access t to out outdoor rdoor recrecreation neation near Shenandoah National ar Shenandoah National
outdoor recreation. Paark and the Blue Ridge Prk and the Blue Ridge Parkarkway, has an A has an ACCRCRA CA COLI of 110OLI of 110.7. Rich-. Rich-
mmond, the sond, the statatee c caapitpital, isn’al, isn’t ft far behind with a Car behind with a COLI of 108.3OLI of 108.3. .
North Carolina’s Piedmont TTherhere are are no special se no special statate te tax benefitax benefits fs for militor military rary reetirtireeeess or surviving or surviving
The North Carolina Piedmont basi- sspousepouses eithers either, though c, though coupleouples with les with less than $ than $75,75,000 in f000 in federederal ad-al ad-
cally covers the region between the jjususteed grd grososs incs income arome are eligible fe eligible for a $12,or a $12,000 deduc000 deduction on stion on statate ince income ome
mountains — which run southwest taxess. S. Saaleless t taax in Vx in Virgginia is 5 perinia is 5 percent.ent.
from Mount Airy to Hendersonville
5 6 M I L I T A R Y O F F I C E R S E P T E M B E R 2 0 0 8
SSept_Retire_Piedmont.indd Sec3:
56ept_Retire_Piedmont.indd Sec3:56 88/12/08 9:44:20 PM/12/08 9:44:20 PM
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140