The past 5 months have been an uneven balance of decision-making and recreation time. To date Deb and I have retired from working for the man, sold “The Bohnarosa,” and purchased a very tall RAM truck to tow our travel trailer. Today we implement the final step of our grand retirement plan.
We will make South Dakota (SD) our state of residence by spending 1 night there, and obtaining new drivers licenses. Our SD mail service account has been active for 60 days, and we will be in compliance with SD law by obtaining our drivers licenses within 90 days. I think of it this way, we have simply been in the process of moving from Minnesota to South Dakota.
Becoming full time RVer’s requires some form of residency and SD is very user friendly. We will be required to spend 1 night, and renew our driver’s licenses every 5 years in SD . Currently SD does not have a state income tax. If we kept MN residency for every $10,000 taken from our IRA’s we would pay $950 in the form of MN state income tax. As a SD resident we will keep that $950 and spend it on ice cream.