If you're thinking about moving to and retiring in Greenville, SC from out of state, it's likely that at least some aspects of your life will change. As you leave an old lifestyle behind, it can feel bittersweet; therefore, thoughtful financial planning is required to manifest a sensible move that supports your every want and need.
This article will help you:
Whether you are retiring and relocating here with your spouse or venturing a new path alone, we can help you make life-altering decisions that could potentially impact your entire family, so choose wisely. From taxes and estate planning to investment selections and portfolio rebalancing, you deserve the support you can count on for the remainder of your years!
Greenville, South Carolina is one of the fastest growing cities in the nation. It's also a great place to live and work—but there are many different neighborhoods to choose from so it can be hard to know where you should settle down.
Here are some things you'll want to consider:
Are you moving to the Carolinas and want to know how to plan for taxes?
Let’s start by talking about taxes in SC. Mitigating taxes is always preferable but can grow tricky when you have earned income or investments in any type of account that pays dividends or interest. If you do want some extra cash at month-end, it may help to know that:
One of the main reasons people move to North Carolina and South Carolina is because they want to retire somewhere warm, beautiful, and relaxing. But before you pack up and settle in, make sure you have an estate plan in place so that your assets are distributed according to your wishes after you pass away.
Estate planning is about making sure that when it’s time for you to go, all of your assets go where they need to: To family members who love you; friends who appreciate you; charities who can use the assets; and anyone else who deserves a piece of what is yours.
If your financial plan hasn't been updated in a while, then it's probably time to revisit it. There are several reasons why this might happen:
The list goes on but these are some common reasons why you should update your financial plan annually—even if you don't feel like there's been much change in your life over that time period!
You may be wondering how you will manage your finances when moving to the Carolinas. That’s a good question and one that we are happy to answer.
Your financial advisor is your partner in planning for retirement and leaving a legacy behind for your family. A good estate plan can protect you from creditors, provide tax benefits, protect assets and ensure that they go where they should when you pass away. It's also important to maintain a diversified portfolio of investments that will keep up with inflation without taking too much risk (after all, no one likes losing money!).
Finding an advisor who is a good fit for you is critical as you develop your financial plan.
Moving to a new region can be exciting, but it also comes with a lot of life changes. Make sure you're prepared financially with a solid plan in place.
When moving from one state to another, it's important to update your financial plan as well as maintain contact with your financial advisor. If you're working with an online financial advisor who is licensed to practice in both states (or countries), this shouldn't be too difficult for them. However, if yours is based out of one area and licensed for only one state, then it could present some challenges depending on how the move affects his or her license status.
Read: Road to Retirement: How to Protect Your Retirement Savings as Inflation Soars
If you're considering a move to the Carolinas, it's important to take time to consider all of the changes that will come with a new place to call home. If home is where the heart is, you need to feel financially stable and supported in that space. There are many things to think about when moving across state lines, including what type of financial planner is right for you and whether or not it makes sense for your situation.
The most important thing is listening to yourself and making sure that everything feels right before deciding whether or not this move will be good for everyone involved. As a company that provides advisory services to retirees specifically, you are in caring hands with our team of experienced fiduciary financial advisors.