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 > Cost of living in the road

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4x4ord

Canada

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Posted: 03/07/18 07:10am Link  |  Quote  |  Print  |  Notify Moderator

I'm finding the responses quite intetesting.Do those of you who responded think the same way regarding a house. For instance if you drive by a 3 million dollar home do you not assume the occupants of that house are living quite a different lifestyle than the occupants of the $300,000 house 2 miles down the road?

* This post was edited 03/07/18 07:33am by 4x4ord *


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rgatijnet1

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Posted: 03/07/18 07:16am Link  |  Quote  |  Print  |  Notify Moderator

4x4ord wrote:

I'm finding the responses quite intetesting.Do those of you who responded think the same way regarding a house. For instance if you drive by a 3 million dollar home do not assume the occupants of that house are living quite a different lifestyle than the occupants of the $300,000 smm house 2 miles down the road?


Interesting comment. I live in a nice house but I also occasionally drive through a neighborhood that includes multi-million dollar homes. From time to time I will see a house with the garage door open. Their garage is neat and EMPTY. I then get back to my house and see all kinds of stuff in my garage. I can just barely get a vehicle in there.
My conclusion is that the people that own those expensive homes cannot afford STUFF, hence their empty garage. I, on the other hand, have so much stuff that it overflows in to my garage. [emoticon]

SpeakEasy

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Posted: 03/07/18 07:30am Link  |  Quote  |  Print  |  Notify Moderator

This whole discussion is very interesting from an educator's point of view. I have taught a number of research courses in which we discuss "correlation." The common use of that term, and what many here are using it to mean, implies a cause-effect relationship. Correlation is NOT necessarily a cause-effect relationship. We can find many things that are correlated in which one of the two things does not cause the other. In cases like this there is often a third thing that causes both of the other two things. In this case a frugal mindset might cause a person to seek an inexpensive RV AND a lower cost of living. The cheaper RV doesn't CAUSE the lower cost of living. The frugal mindset causes both.

It's a good object lesson in this important concept.

Tons of research that you read about in the media is research that has found a correlation between two things. Almost always people misinterpret this as a finding that one of those things causes the other. Very little of the research you read about in the media has actually examined to see if there is a cause-effect relationship. That's much harder research to conduct.

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4x4ord

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Posted: 03/07/18 08:55am Link  |  Quote  |  Print  |  Notify Moderator

SpeakEasy wrote:

This whole discussion is very interesting from an educator's point of view. I have taught a number of research courses in which we discuss "correlation." The common use of that term, and what many here are using it to mean, implies a cause-effect relationship. Correlation is NOT necessarily a cause-effect relationship. We can find many things that are correlated in which one of the two things does not cause the other. In cases like this there is often a third thing that causes both of the other two things. In this case a frugal mindset might cause a person to seek an inexpensive RV AND a lower cost of living. The cheaper RV doesn't CAUSE the lower cost of living. The frugal mindset causes both.

It's a good object lesson in this important concept.

Tons of research that you read about in the media is research that has found a correlation between two things. Almost always people misinterpret this as a finding that one of those things causes the other. Very little of the research you read about in the media has actually examined to see if there is a cause-effect relationship. That's much harder research to conduct.

-Speak


I know, personally, a very frugal couple who think twice about ordering a cup of coffee with their breakfast. The frugal mindset that they have came about as a result of living through tough times. Saving every penny to make their land payments so that they could survive. They live in a home that was built in about 1912 and they are worth around $6,000,000. I almost think for them to change their spending habits would require that they change who they are. I'm quite sure if they got into RVing, the RV they bought would reflect their lifestyle rather than their net worth.

NCC-1701

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Posted: 03/07/18 09:19am Link  |  Quote  |  Print  |  Notify Moderator

4x4ord wrote:

I'm finding the responses quite intetesting.Do those of you who responded think the same way regarding a house. For instance if you drive by a 3 million dollar home do you not assume the occupants of that house are living quite a different lifestyle than the occupants of the $300,000 house 2 miles down the road?


The question you are stating above is not the same as the examples you gave at the start, which were:

Quote:

If your unit is worth $100 k can you live on $35 k? I think it is of some value to have an idea otherwise I might think I can afford say a 500,000 unit and after purchasing it come to realize I can't really afford the $165000 per year it cost to live the lifestyle that goes with it. What are your thoughts?


The original question asked if you went and bought a $500K RV would you then HAVE to have $165K income to live the lifestyle.

That is why nearly everyone is saying that the cost of the RV does not HAVE to drive the lifestyle. We are not saying that many people with expensive RV's don't CHOOSE to live a "high" lifestyle" that is costly. So you COULD buy a $500,000 RV and still live a very frugal lifestyle. Having that RV doesn't MAKE you go to expensive RV resorts. YOU can decide to go there and spend a bunch or boondock on BLM land or use forest-service campgrounds, etc.

Make sense?


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4x4ord

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Posted: 03/07/18 11:52am Link  |  Quote  |  Print  |  Notify Moderator

NCC-1701 wrote:

4x4ord wrote:

I'm finding the responses quite intetesting.Do those of you who responded think the same way regarding a house. For instance if you drive by a 3 million dollar home do you not assume the occupants of that house are living quite a different lifestyle than the occupants of the $300,000 house 2 miles down the road?


The question you are stating above is not the same as the examples you gave at the start, which were:

Quote:

If your unit is worth $100 k can you live on $35 k? I think it is of some value to have an idea otherwise I might think I can afford say a 500,000 unit and after purchasing it come to realize I can't really afford the $165000 per year it cost to live the lifestyle that goes with it. What are your thoughts?


The original question asked if you went and bought a $500K RV would you then HAVE to have $165K income to live the lifestyle.

That is why nearly everyone is saying that the cost of the RV does not HAVE to drive the lifestyle. We are not saying that many people with expensive RV's don't CHOOSE to live a "high" lifestyle" that is costly. So you COULD buy a $500,000 RV and still live a very frugal lifestyle. Having that RV doesn't MAKE you go to expensive RV resorts. YOU can decide to go there and spend a bunch or boondock on BLM land or use forest-service campgrounds, etc.

Make sense?


I see what you're saying. I guess I should have stated my original question a little different. I realize a person could sell their home and use nearly every penny they have to buy a $600,000 RV and then struggle along to live on their old age security check...... I think we would all agree that wouldn't be wise. I think it makes sense to have your net worth, your life style and your possessions in some kind of balance. I'm trying to get that balance figured out along with a vision for our future.

Bill.Satellite

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Posted: 03/07/18 04:58pm Link  |  Quote  |  Print  |  Notify Moderator

Maybe this is not really the question you meant to ask as the answer is really quite simple.

I'm kind of wondering if there is a direct correlation between the value of a person's rig and the cost of living. I'm wondering if it could be something as simple as 35%.

NO

So those whose rig is worth $300,000 might have about a 105,000 lifestyle where as it might cost $210k per year to live for those who are living in a $600,000 rig.

NO

If your unit is worth $100 k can you live on $35 k?

YES, but this has nothing to do with the cost of the RV $100k or $300k.

I think it is of some value to have an idea otherwise I might think I can afford say a 500,000 unit and after purchasing it come to realize I can't really afford the $165000 per year it cost to live the lifestyle that goes with it.

Did you really mean you expect to have to spend $165,000/year to live in your RV? NO. $452/day would not be normal. You would really need to work really hard at it!


What are your thoughts?

NO, the cost of living is not based upon the cost of the RV but rather the personal wants and desires of the person making the purchase. Some folks might want to buy an expensive RV so they could show off their wealth to everyone including every stranger in every RV park. If that's you then you are also going to need to stay in the best RV parks to maintain your perception of status. The problem with this is that when you pull into that best of the best RV park you will find a whole lot of folks with a whole lot more RV and a whole lot more money than you which will quickly force you to figure out your place and find that happy medium that works for you.


What I post is my 2 cents and nothing more. Please don't read anything into my post that's not there. If you disagree, that's OK.
Can't we all just get along?

4x4ord

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Posted: 03/07/18 06:42pm Link  |  Quote  |  Print  |  Notify Moderator

Bill.Satellite wrote:




Did you really mean you expect to have to spend $165,000/year to live in your RV? NO. $452/day would not be normal. You would really need to work really hard at it!




I actually have no idea what people spend in retirement. I had one old fellow that I know quite well tell me that it is pretty easy to go through 200k a year. This fellow is a pretty frugal spender but he is also very busy and extremely generous. I'm thinking my spending habits are likely going to increase dramatically if I'm no longer spending my time working...... doesn't it cost money to do stuff every day?

Lantley

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Posted: 03/07/18 07:39pm Link  |  Quote  |  Print  |  Notify Moderator

Bill.Satellite wrote:

Maybe this is not really the question you meant to ask as the answer is really quite simple.

I'm kind of wondering if there is a direct correlation between the value of a person's rig and the cost of living. I'm wondering if it could be something as simple as 35%.

NO

So those whose rig is worth $300,000 might have about a 105,000 lifestyle where as it might cost $210k per year to live for those who are living in a $600,000 rig.

NO

If your unit is worth $100 k can you live on $35 k?

YES, but this has nothing to do with the cost of the RV $100k or $300k.

I think it is of some value to have an idea otherwise I might think I can afford say a 500,000 unit and after purchasing it come to realize I can't really afford the $165000 per year it cost to live the lifestyle that goes with it.

Did you really mean you expect to have to spend $165,000/year to live in your RV? NO. $452/day would not be normal. You would really need to work really hard at it!


What are your thoughts?

NO, the cost of living is not based upon the cost of the RV but rather the personal wants and desires of the person making the purchase. Some folks might want to buy an expensive RV so they could show off their wealth to everyone including every stranger in every RV park. If that's you then you are also going to need to stay in the best RV parks to maintain your perception of status. The problem with this is that when you pull into that best of the best RV park you will find a whole lot of folks with a whole lot more RV and a whole lot more money than you which will quickly force you to figure out your place and find that happy medium that works for you.


I think your basic premise is all wrong.
I can have a 500K mortohome and live a $165K lifestyle or I can Have a 100K motorhome and still live a 165K lifestyle.
Or I can have a 500K RV and live a 100K lifestyle.
Your RV is not a reflection of your lifestyle budget.
Some of us own our rigs out right some are far from paid off.


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Passin Thru

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Posted: 03/07/18 08:55pm Link  |  Quote  |  Print  |  Notify Moderator

My COLA is different for Va-Oklahoma-VA in 2 weeks time versus a La Tx Ok trip or Fl. from Va. I figure CPM is a standard .50, CG cost per week and then food is the same for us as we buy at Costco or on Military bases. Oil changes are about the same at any AmBest Truckstop. I wash it at Blue Beacon avg $50/wash. If I have it detailed 1 X a year that's about $300. Last year we went 13,000 miles and average Cost was $1.00/mi. I missed Insurance too. We have everything paid for and we have a Bass Boat so fishing costs money. We probably go through $100000 for everything but still own 10 head of cows, turkeys and chickens.

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