My Pension

[Njaco]

My wife and I have decided to full-time RV. We are both retired and no relatives. I have a modest pension. I have searched the threads here and haven't found this question:

I live in New Jersey which taxes my pension. I know other states do not. I'm curious if I can establish residency somehow in a tax-free state in order to have more of my pension money in my hands. Has anybody experienced a similar problem and how did you handle it? Thanks!

 

[wagoneer]

Nevada (i believe)

 

[mpruet]

I know that a lot of nomads establish residency in South Dakota.  They don't have an income tax and I understand that they don't require you to be in the state to re-register your auto.

 

[ratfink56]

I believe The Bob covered this either in his blog or a youtube video. Info is also available by googling it. Hundreds of articles on the best places to retire.

 

[Motrukdriver]

Google this "states that do not tax pensions". There are several states that do not tax pensions and social security. I'd start there and then process of elimination pick one that suits you the best.

 

[Trebor English]

Florida also has no income tax and no vehicle inspection.

 

[Weight]

I have SS and a pension. I haven't paid any taxes to NJ since I have retired. Just not enough income.

 

[JD GUMBEE]

You need to watch this...twice.



Bob answers pretty much all the questions.

 

[rm.w/aview]

Another search that may be helpful includes Full Time RVers Domicile, or variations thereof. RV Forums & RV Clubs have been addressing domicile, which interests you, with articles & up to date info for quite a spell. There's a number of variables that'll come into play as you gather information including state tax, vehicle insurance, vehicle inspection, sales tax (handy in buying that RV), estate planning, along with some others that probably don't affect us non-sedentary folks.

 

[rm.w/aview]

One search can be https://escapees.com/support/mail-service/get-started/helpful-articles

 

[wistful vista]

AFAIK, Pennsylvania does not tax pensions.

 

[frater secessus]

Anecdotal:

Pennsylvania fully exempts all income from Social Security or from retirement accounts like a 401(k) or an IRA. It also exempts pension income for seniors age 60 or older.

from:  https://smartasset.com/retirement/pennsylvania-retirement-taxes

I'd still talk to a financial planner or similar to get accurate info.

 

[vtwinkicker]

Here's all the info in one place.


https://www.retirementliving.com/taxes-by-state