By james art 
If you’re thinking of relocating for retirement, consider South Carolina. It was recently ranked the fourth best state for retirement by the folks at Bankrate. Below that top number is a mix of results. It was 33rd best and 31st best, respectively, for the quality and cost of health care and crime, but ninth best for time and 17th best for affordability. Let’s take a closer look.
According to the World Population Survey, the cost of living in South Carolina is about 96.5% of the national average, with utilities costing slightly more than average, housing costing slightly less, and other factors such as grocery costs being about the average ones. The typical home price in South Carolina was recently $301,813 — about 17% below the national average.
Auto insurance is also on the average side, averaging $3,133 per year, $116 above average. Of course, home prices will vary greatly by location, and desirable locations such as Charleston and Hilton Head Island will command higher home prices.
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South Carolina has a temperate climate, generally it doesn’t get too cold in the winter. However, summer can be hot and there are always chances of hurricanes or floods.
Those who enjoy outdoor activities such as hiking, fishing, boating and camping will find plenty of options. Fans of cultural activities can also be happy, especially if they live in or near larger or college towns. Charleston, in particular, offers great restaurants, museums, and more.
Health care costs and affordability are big concerns for many retirees. In that sense, South Carolina isn’t great, ranked 42nd in the nation for health care for seniors by MedicareGuide.com.
Taxes, however, are another story. South Carolina is one of 41 states that does not tax Social Security. Retirement income and withdrawals from 401(k) and IRA accounts are partially taxable. (However, the state excludes up to $10,000 of retirement income from taxation.) The state has no estate tax.
As you plan for retirement — and we all need a good retirement plan — consider South Carolina. But weigh the pros and cons carefully and maybe try living there for a few months first.
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