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How much do you need to retire in North Carolina?

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How much do you need to retire in North Carolina?


(WGHP) — Retirement seems like a distant goal for many people as costs steadily rise across the board in almost all aspects of life.

GoBankingRates broke down just how much someone in each state needs to retire based on the cost of living. The lowest cost of retirement is in West Virginia, where someone could retire with around $678,095.40, with the highest being in Hawaii, clocking in at over $2 million.

North Carolina ranks in at the middle of the pack at #27 with a cost of living of around $55,158.37 a year before social security. Factoring in social security payments, it comes down to around $33,483.00.

GoBankingRates says that a comfortable retirement nest egg would be around $837,094.90 for someone retiring around 65 in the Tar Heel State.

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SoFi, using numbers from 2021, puts the cost of living in North Carolina at around $43,000 per year with a breakdown into the following individual categories:

  • Housing and Utilities: $7,350 annually
  • Health Care: $7,179 annually
  • Food and Beverages (non-restaurant): $3,630 annually
  • Gas and Energy Goods: $1,139 annually
  • All Other Personal Expenditures: $24,661 annually

Comparing the SoFi numbers to the GoBankingRate numbers, 2024’s cost of living in North Carolina does appear to have increased, which means anyone looking to retire in North Carolina can reasonably expect to pay more than the averages listed above but they do provide a baseline look at the areas retirees need to account for.

According to The Calculator Site, it would take around 43 years to save up to $840,000 if you saved $1,500 a month with a minimal interest rate.



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North Carolina

North Carolina approves party seeking to put RFK Jr. on the ballot, rejects effort for Cornel West – The Boston Globe

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North Carolina approves party seeking to put RFK Jr. on the ballot, rejects effort for Cornel West – The Boston Globe


RALEIGH, N.C. (AP) — North Carolina’s election board voted Tuesday to certify a political party that wants to put Robert F. Kennedy Jr. on the state’s presidential ballot this fall. The panel rejected a similar petition effort by a group backing Cornel West, citing questions about how signatures were collected.

After weeks of reviewing the signature drives, the board voted 4-1 to recognize the We The People party that supporters of Kennedy, an author and environmental lawyer, are using as a vehicle for him to run in a handful of states. The election board decision means the party can place Kennedy on statewide ballots.

But the board’s Democratic majority voted 3-2 along party lines to block the Justice for All Party of North Carolina from ballots. That group supports West, a professor and progressive activist.

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Board staff said We The People and Justice for All each collected enough valid signatures from registered and qualified voters. The 13,865 required are a small fraction of those needed to run as an independent candidate in North Carolina, which Kennedy initially attempted.

Board Chair Alan Hirsch, a Democrat, said that while he believed thousands of signatures turned in by Justice for All were credible, he had serious misgivings about the purpose of signature collectors unrelated to the group that also turned in petitions.

In a video presented to the board, a pro-Donald Trump activist collected signatures for West outside a Trump rally in North Carolina and said getting West on the ballot would take votes away from presumptive Democratic nominee and President Joe Biden.

Separately, Hirsch pointed to the group People Over Party collecting signatures to support West’s candidacy. He said its attorney refused to provide information sought in a board subpoena. A People Over Party lawyer called the subpoena requests overly broad and subject to attorney-client privilege.

“I have no confidence that this was done legitimately,” Hirsch said of the petition drive.

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Board staff also said that of nearly 50 people contacted at random from the Justice For All petition list, many said they didn’t sign the petition or didn’t know what it was for.

The election board’s two Republican members said both groups should have been recognized as official parties.

“Justice for All has submitted well over the number of petitions required. And if we don’t approve them as a new party in the state of North Carolina based on talking to 49 people, I think that would be injustice for all,” GOP member Kevin Lewis said.

Republicans and their allies have said the board’s Democratic majority was trying to deny ballot access to candidates who would take away votes from Biden in the battleground state won by Trump in 2016 and 2020.

Justice for All Party of North Carolina Chair Italo Medelius said he expected the party would soon ask a federal judge to order its candidates be placed on the ballot. The Kennedy campaign didn’t immediately respond to an email Tuesday seeking comment on We The People’s recognition.

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Not including North Carolina, Kennedy’s campaign has said he is officially on the ballot in nine states and that signatures have been submitted in 14 more. The West campaign said it has secured ballot access in 10 other states, but acknowledged some certifications must still be finalized.

In some states, the drives to get West and Kennedy on ballot have been backed by secretive groups and Republican donors.





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North Carolina House Democratic deputy leader Clemmons to resign from Legislature

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North Carolina House Democratic deputy leader Clemmons to resign from Legislature


GREENSBORO, N.C. (AP) — The No. 2 leader of North Carolina House Democrats announced Tuesday she is stepping down from the General Assembly next month because she’s taking a new job within the University of North Carolina system.

Three-term Rep. Ashton Wheeler Clemmons of Guilford County, a former elementary school teacher and school system administrator, joined the House in 2019 and became a leading voice for the chamber’s minority party on education issues. She later became deputy leader of the House Democratic Caucus. She was also involved in legislation to raise the minimum age for marriage and improve conditions for prisoners who are pregnant or give birth.

Clemmons “came to the General Assembly for the right reason – she wanted to help the people of our state,” House Minority Leader Robert Reives said in a statement. “She has authentically stayed true to that calling and leaves our caucus and state stronger.”

She will become an UNC system associate vice president for strategy and policy on education from preschool through high school.

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Clemmons is currently the Democratic nominee in the 57th House District against Republican Janice Davis. Guilford County Democratic activists need to choose a replacement nominee and someone to fill out the remainder of Clemmons’ term through year’s end.

Clemmons didn’t reveal a specific August resignation date. She said Tuesday she would wait until her successor is selected to do so.

House Appropriations Committer senior co-chairman Jason Saine, a Lincoln County Republican, announced Monday that he would resign from his legislative seat on Aug. 12.



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Severe drought covers a quarter of NC counties amid record-breaking heat

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Severe drought covers a quarter of NC counties amid record-breaking heat


June marks the 13th consecutive month of global record-breaking high temperatures. North Carolina has not been spared from the heat.

“We are trending toward one of our warmest years on record in North Carolina,” said Kathie Dello, N.C.’s state climatologist. “While we haven’t had 13 months of consistent records in North Carolina, we are feeling the heat — both in the daytime and the nighttime temperatures.”

Elevated temperatures have dried out many parts of the state. About a quarter of counties now have severe drought advisories. Out east, Columbus County is in extreme drought, according to the N.C. Drought Management Advisory Council.

The council is a collaboration between many state and federal agencies, as well as private utilities such as Duke Energy. The group meets weekly to determine what parts of the state are experiencing a drought and determine how drought conditions are manifesting. For example, the N.C. Forest Service updates the council on how the drought worsens wildfire conditions in the state.

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“[This drought has] been very quick and very extreme,” said Klaus Albertin, who chairs the council.

He described current dry conditions as “unusual.” Leading up to the drought, April was a dry month punctuated by heavy rainfall in May.

“Based on all the different indicators, the state was considered to be normal,” Albertin said. “But then June came around, and most places got maybe an inch, maybe an inch-and-a-half of rain over the entire month.”

Courtesy

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Drought Management Advisory Council

A snapshot of the state’s current drought map. About a quarter of N.C. counties are currently experiencing severe drought conditions.

Lower elevations in the state should expect 4-5 inches of rain this time of year; the mountains should expect nearly double that amount. The onset of the drought happened rapidly after the May rains.

“Another week went by, sometimes we just didn’t get any rainfall. Sometimes stations got maybe a quarter of an inch when typically they would get an inch each week. It’s been very quick and very extreme,” Albertin said.

The council reviews historical data — going back at least 30 years — at National Weather Stations across the state to determine what is normal rainfall for a county or region.

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“If the station has data back to 1895, which some do, we look at what those normals are,” Albertin said.

Fossil fuel combustion elevates global temperatures, quickening drying after rainfall. While annual average precipitation in the state has remained relatively stable, weather events are trending toward the extreme, in what Albertin described as a weather “roller coaster” effect.

“We get these real extreme dry periods followed by some real extreme rainfall,” Albertin said.

Some municipalities have already enacted voluntary water restrictions. Dello said the agricultural sector has been hit hard; North Carolina farmers lost many corn crops this year.

“No matter what rain we get, we can’t turn those losses around,” Dello said.

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There is hope for rain on the horizon, but even that comes with its caveats. The National Weather Service has predicted an above-average hurricane season in the Atlantic this year.

“We do need some of that tropical moisture to make its way here — and hopefully not in a very destructive way,” Dello said. “Our soils are really dry. I know even the average homeowner is saying, ‘I don’t have to mow my lawn, but my garden is doing terrible.”





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