The Nomad Lifestyle Part 1: Picking your residency wisely
For as many years as I can remember I dreamed of living a Nomad lifestyle. Working my 6 day a week life as a Sales Manager, I cherished the 3-day holiday weekends and 2-week vacations so I could pack up the essentials and head out to the great unknown. As time went by, money started getting tight so my wife and I took on extra jobs, she working part time from our home as a graphic designer and me as a private marketing and sales consultants. I had a handful of clients who appreciated the 30 plus years of experience we brought to the table, and were willing to pay us handsomely for our expertise. Life was good, but I still wasn’t satisfied, even with all the big screen TV’s, toys, electronics and such, I was feeling incomplete. Then one night my wife and I sat down on the couch and started to talk about our life. That’s when it hit us both, we were existing but not really living. It was and still is all about the escape. Be it camping, touring, traveling to foreign countries or just running away out of state to see friends and relatives, the euphoria of being free is addictive. So much so, that 5 years ago I quit my full-time job, sold our house, bought a slightly used RV and sold off most of our furniture and belongings. Other than photos and mementos, what we didn’t absolutely need we didn’t keep. We packed our precious items into a small temperature controlled storage unit and headed off into the great unknown. Although we had managed to save a bit of cash over the years including a few dollars from the sale of our home, just to be safe we decided to keep our part time businesses just to keep a consistent money stream. You never know when you will need some extra spending cash. The beauty of owning our own businesses is that we could operate from virtually anywhere we could get Wi-Fi connection or cell phone service, even outside the USA. We also had to decide where we would establish our new residence as Nomads. We wanted to go with a state that offered the best tax benefits as well as being RV friendly. Since we planned to be on the road most of the time and not in state, the choice became very obvious – South Dakota. While it's true that South Dakota, Florida and Texas have no State income taxes, it's the other benefits that explain why South Dakota beats out all other states. For example, Florida is almost the highest state in the country for vehicle insurance. Texas while not as high is still pricey. South Dakota is consistently one of the least expensive States for vehicle insurance.