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Taxation in a roving retirement
Old 10-07-2014, 08:33 AM   #1
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Taxation in a roving retirement

I plan to ER in a few years and the tentative plan right now is to put everything in storage and hit the road, not necessarily in an RV - more like a suitcase and trains,planes,boats and automobiles as I finally get around to seeing some people and places I've wanted to see for quite awhile....(oh and by the way, I am not putting off living, I've recently started to increase my travels and will continue to do so, as I am able).

All of this means I am curious about having a permanent address and taxation on my federal pension and any retirement account withdrawals I make if I am not staying in any one location for more than a few months - domestic or internationally.

Some people do this after graduating college and I assume they use their parents address as a permanent address - but what do older nomads typically do?

Thanks, Tres
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Old 10-07-2014, 09:30 AM   #2
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Sorry ... no help on taxation... but...
I have a very good friend (age 80) who has been doing this... travel... in his case worldwide, since he was aged 60. He uses his son's address as a mailing address, although he has a home on Cape Cod, which he comes back to for a few weeks twice a year.

His travel varies, although he usually picks a country or a region, somewhere in the world. He spent a total of 3 years in South America... on the road all of the time. Instead of using commercial lodging and travel, he lives with the people of the region, and travels by foot, oxcart, bus, or mule... whatever is available, and lives for a week or so at a time, with local families, though he occasionally does the normal thing in hotels where special events like Carnivale.
Last year was the nordic countries, and the year before England and Ireland. His favorite is Peru, where he has "adopted" a large poor family, and is currently financing some of the childrens' education in Universities.
He has been to Africa, China, India and Japan.
While he is not poor, neither is he a multi multi millionaire... He just enjoys being in different paces, and learning local customs. Two years ago, he had to stop for a few months for triple bypass surgery, but was back in action almost immediately.
He has a journal, which he updates via email, and I periodically receive two and three page updates, when he is in an area that has internet.

Your plan sounds great. I wish you well on this new adventure.
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Old 10-07-2014, 10:39 AM   #3
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It may be good to check into a RV club like Good Sam or Escapee's that could provide a mail service for you.
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Old 10-07-2014, 10:42 AM   #4
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No firsthand experience, and I'm sure others will weigh in, but I think that nomads first "move" to a tax-attractive state and have a P.O. Box in that state that is their "official" mailing address, residency, etc. Probably would be worthwhile to move your driver's license, voting, car insurance if applicable, health insurance (be sure it is portable to the areas you plan to travel to), etc to that tax-advantageous state. Then, hit the road and enjoy!
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Old 10-07-2014, 10:49 AM   #5
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Originally Posted by KiraC View Post
It may be good to check into a RV club like Good Sam or Escapee's that could provide a mail service for you.
+1

Escapees is one of the most popular sources for establishing a residence for those who live on the road in an RV. Go to Escapees RV Club and click on "Mail Service" and "Domicile".
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Old 10-07-2014, 07:22 PM   #6
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Originally Posted by pb4uski View Post
No firsthand experience, and I'm sure others will weigh in, but I think that nomads first "move" to a tax-attractive state and have a P.O. Box in that state that is their "official" mailing address, residency, etc. Probably would be worthwhile to move your driver's license, voting, car insurance if applicable, health insurance (be sure it is portable to the areas you plan to travel to), etc to that tax-advantageous state. Then, hit the road and enjoy!
I don't think a PO Box qualifies as residence. That can be your mailing address, but you need an actual residence of some kind like maybe your friend's garage.
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Old 10-07-2014, 07:27 PM   #7
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I don't think a PO Box qualifies as residence. That can be your mailing address, but you need an actual residence of some kind like maybe your friend's garage.
+1

From the Escapees link in my post above:

Quote:
One of the biggest considerations is where you wish to establish your legal domicile. In an effort to make it easier for you, Escapees created ESCAPEES: HOME, which offers two physical addresses that may be used for the purposes of domicile: Texas and Florida.
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