Retiring? What to Consider when Choosing RV Home Base
RV owners have an advantage over other folks when they retire. They have the option of moving into their RV motorhome or 5th wheel trailer (the two most-popular RV types with full-time RVers) and retiring to their favorite place. Many RVers choose the best of both worlds when they retire, splitting their year between their northern roots to enjoy their children and grandchildren during the pleasant summer months and their favorite sunny vacation spot to pursuing their favorite outdoor activities during the winter.
When shopping for a retirement home base, RVers will want to consider the following:
Cost of living. A low cost of living allows retirees to stretch their budgets, freeing up more money to indulge their passions.
Taxes. States with no income tax are particularly appealing to retiring RVers, but it pays to look at the whole tax picture. Some states offer attractive tax reductions for seniors. Other states may offset low income taxes with high sales taxes. Get the facts from each state’s department of revenue website and make sure you understand state residency requirements. Most states require that you live there a certain number of days out of the year to claim residency and the tax advantages that go with it. This is particularly important to RVers who plan to split their year between multiple locations.
Weather. A preference for warm, sunny weather has driven the growth of retirement populations in Florida, Texas and the Southwest.
Next: Lifestyle Considerations Affect Retirement Decisions of RV Owners
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