Tossed out for opinions - RV-Dreams Community Forum

Hdrider · RV-Dreams Family Member

Tossed out for opinions

galeanna · RV-Dreams Family Member

I have questions for you. How is your health? High stress jobs cause problems .. we know from personal experience. Are you both in agreement? You can always work camp .. earn money yet not in high stress type of job. You are the only ones who can answer your questions .. all the rest of us can do is offer our personal experience. I do know health wise if we had known what we would face in the future we would have considered being FT a lot earlier.

Terry and Jo · RV-Dreams Family Member

I'm not positive, but I believe that Howard and Linda have been full-timing with less than $400K in investments. So, in that regard, I don't see why you couldn't, provided that you didn't go overboard on an RV.

Also, should you go back to a sticks and bricks, why not relocate to somewhere that homes cost less. For instance, here in central Oklahoma, homes can be anywhere from just over $100K and up. We are in a 2200 sq ft home in an area where homes range from $200K to $250K on 3/4 acre lots.

I've known of people who sold smaller homes than that in California and was able to buy much larger homes in Texas and Oklahoma for what they got for their old home in California.

Good luck on your planning.

Terry

dream reachers · RV-Dreams Family Member

Stress and health concerns were some of the reasons we decided to go fulltime over 2 years ago. Our lifestyle now is definately stressfree and healthier. We have an income close to the 36k you mentioned that you could have. We are traveling across the USA. Last year we traveled 17561 miles through 19 states and 3 provinces. We do volunteer jobs occasionally which we like to do and helps decrease our expenses. Your nest egg is sufficient and should produce some interest which you could also use as income if you wish. Since you are debt free you should be able to live on your income if you live moderately. Howard has done a fantastic job of listing financial considerations on RVDreams.com website. Check Howards' sample budget and add a cushion for big one time expenses for unexpected "budget bumpers" as they occasionally do happen. Some of our catagories and amounts are not the same as Howard's but we run close to his yearly travel budget when we are volunteering at times. Compare his insurance rates and taxes to what you pay. Your food and eating out may stay close to what you are presently spending. We did it and are enjoying life. No regrets.

-- Edited by dream reachers on Friday 29th of January 2010 12:01:03 AM

Hdrider · RV-Dreams Family Member

My health isn't horrible. Blood preasure a little high,,, ankles and knees are starting to pay the price of being on concrete every day for the last 27 years,,, don't get much sleep,,,, just the basic stuff.

And yes,, Diane is on board with giving it a shot. She likes to travel and we did live in the MH for a year while building the house, so we know that didn't bother us and we wasn't even seeing any new sights.

As far as where we would settle down again when,,if,, we decided to. We could very possibly find an area other than wherer we are now that was more affordable and that we liked as well. There are many places we have no clue about.

Mallo · RV-Dreams Family Member

The sticking point appears to be the not going to work every day, it would be for me thankfully my job is mobile.

But right here in the forum there is an ad for a Florida State Parks work camper at Big Shoals to maintain the trails and do basic pick up and clean up. A job you can do while being parked in a forest that has no stress no concrete floor to be on 8 plus hours a day sure the pay is minimal a free RV site but it helps the budget.

There are ways to get what you want and still have something meaningful to do three to five days a week. You just have to look for them.

Mallo

thebearII · RV-Dreams Family Member

Look through the other sections of this website. Howard and Linda have provided great information that will answer many of your concerns. Pay attention to the financial pages where Howard lists their expenses. Look at their decision making process for fulltiming ...go through the pages shown in the left hand column of the home page here on RV-Dreams.com.
There's lots of great information to help in your decision.

GENECOP · RV-Dreams Family Member

Go for it, the time for thinking is over, life happens once, no dress rehearsal, enough with the self imposed torture. get ready gooooooo. G

Luvglass · RV-Dreams Family Member

It's definitely doable, there are many who have done it and are living on less that you project. The question is, is it OK in your mind?. Questions I would ask you are -

If the house and rig are paid for, why do you need an income of $75K?
If you have to come off the road, why do you need a $400K house?
Why do you think you are unemployable if you leave this job?
After all these years working are you and your wife eligible for SS at 65?
Have you looked into opportunities to work part time on the road? You should easily be able to pick up another $10K a year.

I think people often die regretting the things they didn't do and the places they didn't get to see. Never, the other way around.

Good luck,
Fred

Mallo · RV-Dreams Family Member

>>I think people often die regretting the things they didn't do and the places they didn't get to see. Never, the other way around.

HERE HERE!

{Pours more rum}

Best advice ever.

{Drinks down rum}

Mallo

Happytrails · RV-Dreams Family Member

Great advice from everyone that has posted. I retired after 35 years in education with a full pension and health insurance option. Mike, however, retired early. The reason was health. His job was beginning to really drag down his health. He had knee problems from 37 years on his feet and mostly concrete floors (we understand) and then recently began to have back issues. Exhaustion and stress were huge. Life is just too short to live that way. Now he is a different man. Even though we have not been full-timing long we wouldn't go back to that lifestyle.

Your nervousness is normal but believe me it will disappear once you turn that corner. You will find the way you view things will change. The questions Fred posted are good ones to ponder. We sold our house and have enough money to go back into another (hope we don't) but I would never want another house as large as what we had. Just not necessary. Just honestly think about those questions and then, as Gene said, just go for it. You will never look back.

Hdrider · RV-Dreams Family Member

Luvglass wrote:
Answers to your questions
It's definitely doable, there are many who have done it and are living on less that you project. The question is, is it OK in your mind?. Questions I would ask you are -

If the house and rig are paid for, why do you need an income of $75K?
(The house is not paid for at this point. But after we sell it would be and we should have $400K equity to throw into the bank along with whatever we have sitting in savings and checking and investments,,,,, and the MH is paid for now. And your correct,,, if the mortgage goes away then we do need less)

If you have to come off the road, why do you need a $400K house?
(if we come off of the road I know we would want some sort of property, Probably a RV port type home on a couple acres. Probably wouldn't need the entire $400K)

Why do you think you are unemployable if you leave this job?
(I'm sure I am employable. But with the state of the nation I'm just saying I probably wouldn't walk into a job paying what I make now. And
I guess I wouldn't need to)

After all these years working are you and your wife eligible for SS at 65?
(yes,,, but thats a little over 10 years away)

Have you looked into opportunities to work part time on the road? You should easily be able to pick up another $10K a year.
( have not looked into it. But figured if it turns out that we give this a try I could find a job doing something a couple months a year. I even thought I could work for my current employers 3 or 4 months a year part time at a lesser level. I concidered even just going on the road 6 or 7 months at a time and work 6 or 7 months at a lesser level at my current employers and pay cobra for my insurance. That would need some serious concideration however.)

I think people often die regretting the things they didn't do and the places they didn't get to see. Never, the other way around.
(you are 100% correct!! And I am going to do my best to avoid falling into that exact trap)

Good luck,
Fred

-- Edited by Hdrider on Saturday 30th of January 2010 01:55:31 PM

TxYellowRose · RV-Dreams Family Member

Hdrider,

We are planning to make the jump next spring on savings considerably less than you state. We own our rig outright and are debt-free. We have no house to sell, as we are furnished a residence in our job as self-storage managers. We will be selling essentially everything...furniture, pool table...um...just basically everything.

Our plan is to workamp and I am looking into working as a virtual assistant and teaching Reiki, a method of stress reduction which promotes general well-being. Those things and whatever else we pick up along the way.

We are in our 50s, too young for "retirement." Yes, it is rather scary but, as others have said here which is echoed by full-timers we meet out camping, now is the time in our lives to do it.

This is the way we see it. So many people wait until they "retire" in their late 60s/70s to do this and then are not able to do so due to health issues. I personally am a cancer survivor, so I know that life is fleeting and we get no second chances.

My husband is from Scotland and has not seen much of the States since he has been here. Although I traveled a lot as a kid, there are places I would like to visit again.

There seem to always be jobs in self-storage and we figure we can get back in it should we want to come off the road temporarily or permanently at some stage.

This forum is a wonderful group of folks who offer support on every subject of RV maintenance, finances, anything you can think of....and everyone understands that feeling of "are we crazy for thinking about this?!?"

If it seems to be a fit for you....go for it! Life is short.

Hdrider · RV-Dreams Family Member

Thanks for everyones comments. I am feeling very strong about the possibility. We have made an appointment with our finantial guy to discuse it further. Just to find out where the best place would be to put the equity money and to see what we could expect to make off of it monthly.

GENECOP · RV-Dreams Family Member

Hdrider wrote:

Thanks for everyones comments. I am feeling very strong about the possibility. We have made an appointment with our finantial guy to discuse it further. Just to find out where the best place would be to put the equity money and to see what we could expect to make off of it monthly.

Keep the conversation on the finances only, some financial guys cant see beyond working, saving, and accumulating wealth. Dont let him rain on your parade, G.

53 Merc · RV-Dreams Family Member

GENECOP wrote:

Hdrider wrote:

Thanks for everyones comments. I am feeling very strong about the possibility. We have made an appointment with our finantial guy to discuse it further. Just to find out where the best place would be to put the equity money and to see what we could expect to make off of it monthly.

Keep the conversation on the finances only, some financial guys cant see beyond working, saving, and accumulating wealth. Dont let him rain on your parade, G.

Amen!! Keep the conversation centered on income producing and capital maintenance. Don't let anyone tell you you need to keep (I can't bring myself to using a four letter word beginning with w---). You only regret should be why didn't I do this years ago. I am still kicking myself.
Volunteering has proven to be rewarding, and you can capture great campgrounds for free by doing so. Just be sure your desires match with the facilities expectations. I have had to have a discussion with camp rangers when the job turned into more than I was willing to expend. They will work you all you are willing to do.

Racerguy · RV-Dreams Family Member

Ditto's on what Gene and Ken said. Every financial planner I ever talked to told me I needed a million dollars to retire "in comfort". Nonsense I say,his idea of comfort apparently is way different than mine. Ultimately you are the one that needs to decide how much is enough. When I retired I thought I would miss working but I've been retired 10 months now and have found other ways to fill my time.Good luck on your journey.

Jim01 · RV-Dreams Family Member

I had a financial advisor tell me that I was crazy to quit my job, sell the house and live full-time in an RV. He said that I would be broke within 5 years. (He's no longer my advisor).

Here we are, almost 9 years later, have gone through a recession and still have the money to buy a house if we should ever decide to do so.

We live comfortably on less than 30K a year and have not worked since we hit the road. I personally know a couple who full-times on less that 20K a year and are having a ball.

How much money you need per year completely depends on your life style. If you stay only in top of the line resorts, you will probably need 40 or 50K per year, but it definitely is possible to live on much less.

Jim

Hdrider · RV-Dreams Family Member

Yep,,, I don't figure he would be the type to see beyond working until your in the grave. So we plan to stay on topic,,, thanks

Oh,,, and we have a house showing in two weeks from a couple from out of state.... not that thatreally means anything but hey,,, it's a tickle anyway LOL

-- Edited by Hdrider on Sunday 31st of January 2010 09:05:58 AM

mailman01 · RV-Dreams Family Member

Financially, you folks have absolutely nothing to worry about and you probably already sense that. If I were planning to come off the road at, let's say 70 years of age, and had $400,000 under my pillow, I would not put it in a house but instead maybe purchase with nothing or minimum down and finance for 30 yrs at 5% or so and hope I could get close to that in interest on the rest of my loot. Why would anyone want to put all their savings into a house unless you plan to live to be at least 100? One could get a fairly decent little hacienda in a warm climate (North Florida?) for less than $1000 a month leaving your nest egg intact. Let someone else worry about the house when you and the Missus pass on.

I do agree with Fred, how many people lying on their death bed have you heard saying "I sure wish I had worked another year." I have been retired 3 years and have missed work about, hummm, 15 minutes maybe. We're not full time, but do travel quite a bit and certainly enjoy the freedom. As a matter of fact, heading for Palatka, Florida next week for a Bluegrass Festival. Live Long, Prosper, and Travel.

Marty

TheBobGuy · RV-Dreams Family Member

Hi HD..I'm going to suggest something for you to consider, as you mentioned that you are "just over 50". As others have said, FTing now should be doable with the numbers you mentioned, but don't forget to factor in what your Social Security income will be, when you turn 62 and are ready to collect; the SS statement that you receive each year will show you what you will collect "based on your continued earnings" remaining the same. If you stop contributing at a much younger age, then your monthly SS income will be much reduced when it comes time for you to start drawing, and that will also be at a time when you may not be up to working.
I mention this only because we have had the occasion to meet several fulltimers who are now 65+, but gave up their jobs and went on the road fulltime in their late 40's to early 50's and workcamped, or had small businesses for extra income, but paid little or nothing into Social Security (or another retirement plan), and now their SS income is so little ($400 or so) that they cannot survive without continuing to work. Some of these people are physically unable to work at this time and are struggling. You will have a nest egg, but you will be surprised at how easy it is to spend money on the road, so you will have to protect your nest egg carefully. If you are spending the income off of it as you go, then it won't be growing, so factor that in also.
I'm not saying don't go for it....you seem to be planning to go back to work in the future, which would help mitigate the issue. It's just something to keep in the back of your mind and to be prepared for, which you seem to be asking the right questions, and making the right plans. Just my two cents worth!!

Happy travels and we sure hope to see you on the road sometime!!

Hdrider · RV-Dreams Family Member

Another good point Bob,, thanks.
As you mentioned,,, I do figure I will have to go back to work so in my mind at this point I won't be disapointed when that time comes. Of course after feeling the freedom for how ever long I may feel differantly about it then LOL.
As far as the nest egg. If we hit the road and find out that we can't live off of the money we bring in each month without touching the set aside money and don't feel we can adjust our needs to do that then I figure our time on the road will not be a long one. But hopefully we will create at least a few fond memories and stories to tell.
And the people you talked about that hit the road early and now have little SS now,,, that is a story that I would hate to have happen but one things comes to mind,,,, 1- would they have done it any other way knowing now that they (some of them) are in bad health and couldn't travel now.
Well the meeting with the fianial guru is at 3 this afternoon. Should be interesting.

KarenInTheWoods · RV-Dreams Family Member

I do not want these words on my gravestone:

I WORKED ALL THE TIME. WISH I HAD RV'D MORE

bjoyce · RV-Dreams Family Member

Hdrider wrote:
Well the meeting with the fianial guru is at 3 this afternoon. Should be interesting.

Hopefully this person will really be helping you and not just trying to sell you something. Be careful.

Hdrider · RV-Dreams Family Member

Well I was surprised,,, we had our 1st meeting and looked at what we have and what we should have after the sale of our home. Didn't tell him what we wanted for income and then Looked at a few options.
I was very surprised. He told us #'s on a conservitive way of investing that would be $6000 more a year than the $36K a year we decided we wanted to full time on.
He asked us many more questions and want's to run it through a computer program and have another meeting in 2 weeks to go over it.
At this point I feel positive about the info we recieved today. And I think it's time to get more serious about selling the house. It's just a sign out front now with no advertisement. For sale by owner.
I have to say thanks to this web site and people again. Without stubling across it I probably wouldn't have started thinking about making the move to full time now and would have kept on doing things the way we have for a couple more years. And you just never know,,, what could happen in those next couple years that would stop us from a new experience.

-- Edited by Hdrider on Tuesday 2nd of February 2010 11:38:52 PM

-- Edited by Hdrider on Friday 5th of February 2010 06:49:06 AM

ahoweth · RV-Dreams Family Member

We only have today. No one ever promised us tomorrow. Your health is not negotiable. At your age you probably will not get to feeling better and you certainly will not get any younger. Please do not be one of those folks that just cannot let go of the ties that bind.

From what I have read you should have no problems. (full timers for over 5 years)

Colorado_Kid · RV-Dreams Family Member

I once meet a lady who I thought was in her forties and later found out she was in her seventies. The reason she looked so young was because she had never worked in her life because her husband was rich and could afford it. Stress can age you badly.

Hdrider · RV-Dreams Family Member

It may sound funny but I already feel better just knowing that we have now made the choice to sell and go full time. Nothing else has changed in our life except making that choice.
Now just the probably long wait to sell.

Surfbum · RV-Dreams Community Member

I was in a similar situation as you. I'll tell you about a major turning point in my life. I worked in corporate America for years, high stress, lot of travel, lot of hours, but I was pulling down really good money. One morning I came to work (6:00am as always) and there were paramedics in an office down the hall from mine.

A gentleman I worked with, who did the same job as me, and we were the same age, was slumped over his desk dead from a heart attack. They said he died the night before. Nobody found him until the next morning. His wife didn't worry he didn't come home, he frequently pulled all nighters in the office, just like I used to.

I sat there thinking for about 5 minutes. I grabbed my personal things from my office and went home. I've never been in that building again. I went and saw a financial planner (would suggest you do the same) and figured out I could retire comfortably, so I did. I do still work from time to time as a consultant, do some stuff on the web that brings in a few dollars and keeps the noggin exercised, and I'm happier now than I've ever been. I honestly believe if I kept working like I was, I'd be dead today as well. I'm glad I got out when I did.

Now I'm taking my retirement one step further. I'll be a full timer within two months. I'm really looking forward to it, been wanting to do this for years, finally going to make it happen. That's how I ended up here, just like you did.

K & E · RV-Dreams Family Member

I agree with what everyone is saying. We are in our 50s and have a contract on our house to close on March 31st. We have less money set aside than you do, but our financial planner has shown us that we will be just fine once we can start collecting some our retirement investments. In the meantime, we will workamp and watch our pennies. Several years ago, I started a new job for more money and a better career (I thought). I worked for an incredibly abusive man and my health deteriorated so fast it was unbelievable. The stress made me so sick! Luckily, I was in a union and was able to file a grievance and given a different job in the same organization. But it was a huge wake up call. My husband was in a job he was totally burned out from and we started dreaming. The dream has kept us going and now we are almost there. We even have a possible workamping job lined up for the summer. I say go for it. What's the worst that can happen. If we have to go back to work, we will. But, the chance to live the dream is worth the risk. Don't let fear control you. Who says we have to follow the rules society and the marketing gurus have tried to convince us we should follow. I say YES to freedom from all the "stuff". Just do it!

TXRVr · RV-Dreams Family Member

I was never unhappy in my six figure job. I could have kept doing it, but an early retirement was the plan for a decade and when it came time, I did. Neither of us has worked since, live on $45K without spending it all, and are happy as pigs in a mud hole.

We full timed for two years, stopped for a year to build a mortgage free house from savings, and now go back out on the road for 5-6 months several times a year. It’s the best of both worlds for us.

As someone else posted, I did not want to get to the end knowing that I left something on the bucket list. We have skydived, scuba dived, caved, climbed and repelled mountains, parasailed, flown airplanes, rode motorcycles, and had a host of other adventures. If I could get rockets on the rig, I’d take it for a spin in space.

I enjoy money as much as the next person, but it doesn’t take that much to do the dream. It’s kinda like repelling, the first step is the hardest.

Hdrider · RV-Dreams Family Member

Yep,,, that type of thing sure make you think.
I have had a few people that I have done biz with for years just wake up dead over the last few years. In fact one fellow I have worked with for 15 years just had open heart then had a stroke and was paralized totally for 3 weeks. He is now in a adult foster care home going through recovery. Only 2 years away from the traditional retirement age.
I wonder if he would done things a little differant if he knew.
Well,,,, it's 5:15,,,, better get headed out to work in a few min.

Hdrider · RV-Dreams Family Member

Had our last meeting with the money planner. He showed us different graphs it different things happened,,, staying on the road for ever,,, stopping and renting,, stopping and buying a home,,,, one of us passing away ect.
Looks like we could RV for ever and bring in what we planned and still have our nest egg grow,,,, stop and rent and still have our nest egg grow,,, or stop and but a $400K home and have pump gas a couple days a week. All assuming we stay at or below a 2% inflation rate.
We had two realtors come by and look at the house. Both gave the same # for this market,,, just about what I thought,,, maybe 10 or 15K less but not bad.
We travel to Orlando next week for biz and pleasure then I guess it's time to really get busy selling this ball and chain smile

rjenkins · RV-Dreams Family Member

This is MHO, but you have to be careful when one assumes either inflation rate or growth rate of investments. The financial planner usually likes to paint a pretty picture in order to get a hold of your investments and manage it for a fee.
2% or less inflation rate is highly optimistic. Remember in the early 80's we had 12-15% inflation rate and it took years to get it down to 4-6%. The political climate in this country right now is that big government is good and with the amount of spending we are doing and with everything else that can potentially be down the road, the American dollar will virtually become worthless and thus inflation sky rocket.
When doing financial planning I like to use worse case scenarios which is that inflation will eat away at 5-7% and that return on investment will be half of that. The picture may not be as rosy but it will be more realistic.
I remember back in the year 2000-2002 a lot of people were retiring at my company because their 401K had skyrocketed and financial advisors were figuring out that they would get 10% return on investment forever since the past 5 years they were averaging 15% no matter what they invested in. Now most of the people that retired have had to get a job again because their nest egg was wiped out.

gypsylarry · RV-Dreams Community Member

I don't think you realize what a fortunate financial position you're in. Most would relish being in your shoes. We've done the move now for a little over a year with much less in investments and our rig is not paid off yet. I know you can do this and take on your new life. Remember:

"They ask me why I will not sell my days for gold and I admonish them for thinking my days have a price."

www.gypsylarry.com

Hdrider · RV-Dreams Family Member

I hear what your saying rjenkins. If I thought we was really going to full time the rest of our lives I would probably be more concerned. However I really think that we will be doing it for 2 to 5 years then settle back in and do less travel.
But point well taken none the less. Thanks

And gypsylarry,, I would aggree with you that I did not realize how lucky I have been up until this last few months. And at that point I stood back and said,, WOW,, I may have finally reached a happy place.
See for me I have no (put in 20 or 30 years and draw a retirement) type situation like alot of folks. So I have had ne real referance point to shoot for. Heck I could have slid on by my time and missed it had I not poked my head up LOL.

-- Edited by Hdrider on Tuesday 23rd of February 2010 07:13:44 AM

rwarner22 · RV-Dreams Family Member

I concur with those that have said 'Go for it'.

I'd love to see the spreadsheet your financial planner created for you to help see different scenarios.

Sounds like you are in a similar situation as we were financially. We are comfortable with how things have gone the last 9 months since we started full-timing.

The spending is something we try very hard to control and yet we have been able to add a few upgrades and do some unscheduled maintenance.

We always have considered workamping and a lot of boondocking and/or long term camping for 2-3 months to help the budget.
Maybe those things will happen in Year 2 of Fulltiming.

Another way to save money is volunteering which may be better than workamping because the hours are usually less (and no pay of course.)

The two things that really help for us is having medical coverage (through Tricare which is free except for the 20 years it took to retire from the AF) and I also am able to work a few hours online each month. The online work provides a few hundred dollars which is better than workamping at the moment. It is not a lot of money but it helps.

We find we spend the most money when we are around family. And we also feel like we have gone through the 'newbie' phase of buying things we 'need' that we won't have to buy in Year 2 and beyond.

Thanks for posting the question. It was helpful to rethink some of the finances and replan for the next year.

Sunriser · RV-Dreams Community Member

Hdrider, I sure get the "fear factor" but from my point of view you'd be one of the most sane people on the planet to go for it!

heyduke · RV-Dreams Family Member

we too are in our 50's and hope to be fulltiming this time next year... so carry on my wayward son...

Hdrider · RV-Dreams Family Member

We made the choice to move forward,,, we have started selling things like the tread mill,, extra refer,, bandsaw,,, floorstand drill press ect. All are gone. And we hold our 1st open house on the 20th. We have invited about 20 realtors to come buy and offered 1 day listings to whoever can bring a buyer,, whenever.
So at this point it is just a matter of selling ,, like so many others.
I would be happy if we sell and are on the road by next Oct. or so. In fact that would be just about perfect.

-- Edited by Hdrider on Friday 12th of March 2010 07:07:23 AM