How to save taxes in retirement

By

A U.S. News Money article lists several ways to save money. First, if you have investments, you might be able to reset the cost basis to save on capital gains taxes when you cash in your funds. Another is to relocate and choose a state with no or lower income taxes. And, if you are thinking of relocating out of the country, be aware that four states want you to pay state income tax even after you relocate. The other piece of advice is to go into retirement debt free. It will probably mean you withdraw less from your investments. thus saving on capital gains.

RVing can be less expensive

RVing can be less expensive

RVers who travel full time or most of the time often change their domicile. Texas, South Dakota and Florida are the most popular, though each person needs to look at their financial picture and see what is best for them. Escapees RV Club (TX) and Good Sam (FL) have mail-forwarding services and assist RVers in making the change to these states. A couple of commercial mail forwarding companies (Alternative Resources and America’s Mailboxes) that specialize in RVers do the same for setting up your domicile in South Dakota.

Living in an RV full time can be less expensive that maintaining a house. RVers have control over more of their expenses like fuel and camping. To learn more about retiring to an RV, click on theĀ  “home” tab above. Jaimie Hall Bruzenak

 

April 28, 2013
Categories : RV retirement
Technorati Tags: domicile mail forwarding rv rv retirement rvers

Leave a Reply