Skid row joe, I got a million in the bank , CASH, no debts, HOW ??????
I got it while fulltiming on nothing. You example is far from the main stream america.
You keep working till u die, meanwhile , I just closed my company up one day, didnt try to sell, just walked away. Thank you god.
We live on 2000 a month, cause we want to, not cause we have to. Seems like some people think a dollar is worth 100 cents, while some think it is worth 10 cents. We live pretty dam good.
Ok, After some thought, you say you are 51 years old, earn about 100,000 dollars a year and have only 300,000 in retirement. If you sell your house, you will be debt free, so therefore you have debt on your house and probably some credit cards and automobiles. This tells me that you have had a difficult time living on your salary now as you have built up debt and have no after tax savings and very minimal retirement savings.
I would think it would be wise to try and live on 20,000 per year and see if you are able to save/pay of debt with your remaining funds. Please give it a lot of thought first.
Bob and Karrie
2004 Pace Arrow 37A
2000 Honda Accord EX
Brakepro Aux Brake!
WTTCS, Whatever works for you is great!! Spending no more than $2K a month, you're doing fine. Take heart friend, I'm not overworked at this stage of my life.....I love my profession and the income roll. I am aware that my way is not the norm....that's OK with me too. I've been taking month-long RVing adventures & vacations every few months since the late '80s.
I will still have kids at home until 60. I will have far more saved and invested than you stated but I still will always have a permanent place as far I know. Sure would like to take a two+ month trip rather than the corporate two weeks.
I will be 69 when the kids get out of college so I have even more time to save. Having a home port will be our plan as well. Older family member needs encourages shorter times out on the road plus the kids have something year round going on so long trips do not work so well.
Ltcspec wrote: Ok, After some thought, you say you are 51 years old, earn about 100,000 dollars a year and have only 300,000 in retirement. If you sell your house, you will be debt free, so therefore you have debt on your house and probably some credit cards and automobiles. This tells me that you have had a difficult time living on your salary now as you have built up debt and have no after tax savings and very minimal retirement savings.
I would think it would be wise to try and live on 20,000 per year and see if you are able to save/pay of debt with your remaining funds. Please give it a lot of thought first.
This was pretty much my reaction, too: Technically no net equity in the house if you'll use it to pay off other debts, and only $300K in savings indicates a lifestyle that needs the full $100K to get along. Unless you can somehow work out your actual, personal, exact, realistic budget there's no way those numbers will work for you. Otherwise, spend a few years living more frugally and saving or, as you put it, "suck it up and develop an aggressive 5-year plan.".
First - not everyone feels they must BUY a S&B when they finally come off of the road. A lot just park the RV in a place they have found that they like and live there until it is time for an Assisted Living facility.
Second, to the poster that said $40K per year was to little - you're wrong. We are very comfortable on less. And fuel at $6/gallon means you just spend a little longer in each area, which also helps reduce park costs in that you can take advantage of weekly and monthly rates.
Barb
Barb & Dave - full-timing Traveling catpanions Kit (age 18) and Shadow (age 11) Figment II (2002 Alpine 36 MDDS) Mischief (2004 Subaru Forester Toad) FMCA - F337834, SKP #90761 http://homepage.mac.com/barbaraok/ Our blog
I also think you should look at rvdreams.com. Linda and Howard quit the corporate world in their 40's and have been rving fulltime for 3 years. There website has loads of information that would be helpful to you. They are up front about everything including money. Their web site has a big following and many prospective fulltimers call and visit them. Check it out.
2004.5 Silver Dodge diesel dually
2004 Sunnybrook 391 SUT Toy Hauler
1999 Harley Road King
Talk to your financial adviser, the person who manages your 401K, a local real estate agent, or whomever. RV.net is a risky place to get reliable financial advice.
Good luck, and welcome to your permanent vacation!
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