Free retirement calculator tailored for South Carolina (SC). Calculate instantly with state-specific rates and rules.
South Carolina is consistently ranked as one of the top retirement states for its warm climate, coastal beauty (Hilton Head, Pawleys Island), golf communities, and relatively favorable tax treatment. Charleston is a particularly popular retirement destination.
| Data Point | Value |
|---|---|
| Average Retirement Savings (55-64 age group) | $125,000 |
| Median Household Income | $56,227 |
| South Carolina Tax on Retirement Income | South Carolina does not tax Social Security benefits. |
South Carolina does not tax Social Security benefits. South Carolina provides a deduction of up to $10,000 for retirement income (pension, IRA, 401k) for residents under 65 and up to $15,000 for residents 65 and older. South Carolina income tax rates range from 0% to 6.5% (being reduced over time).
The average South Carolina household nearing retirement (ages 55-64) has approximately $125,000 in retirement savings. Financial planners commonly recommend having 10-12x your final salary saved by retirement age. For the median South Carolina income of $56,227, that suggests a target of roughly $562,270 to $674,724.
Use CalcuWealth's retirement calculator to model your specific situation — including your expected Social Security, any South Carolina pension, and your investment portfolio — to find your personal retirement number.
Data: US Census Bureau ACS 2023, Zillow (2024), Vanguard How America Saves (2023), NCES. Updated 2024–2025. Figures reflect state averages — consult a licensed financial advisor for personalized guidance.
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