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Open Roads Forum  >  Class A Motorhomes  >  General Topics

 > Cost of living in the road

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2gypsies

Enjoying the West!

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Posted: 03/07/18 09:48pm Link  |  Quote  |  Print  |  Notify Moderator

4x4ord wrote:

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.


Many full-timers do it on $30-$35,000/year.... some less, some more. But $165,000? I really doubt it.

Full-timing is a lifestyle not a constant vacation. There are many, many awesome things to do that don't cost anything and likewise, many gorgeous boondocking spots that don't cost anything. In addition, the size and cost of a RV has nothing to do with it. If you go to the big gathering in January at Quartzsite, AZ you'll see mega-buck RVs parked in the desert. I don't think folks change their habits of spending when they full-time. If they've been frugal for 30-40 years that's instilled in them.


Full-Timed for 16 Years
.... Back in S&B Again
Traveled 8 yr in a 40' 2004 Newmar Dutch Star Motorhome
& 8 yr in a 33' Travel Supreme 5th Wheel


tinstartrvlr

Currently AZ

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Posted: 03/07/18 10:37pm Link  |  Quote  |  Print  |  Notify Moderator

This thread gave me a headache.

It's not math, it's personal choice. Do you want to spend a ton of money living the half million dollar MH dream, or do you want to just enjoy life?

Keep up with the Jones's or just be happy?

It all depends on how you want to travel/live. Do what makes you happy, not what you think others will think.

Bill.Satellite

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Posted: 03/08/18 06:11am Link  |  Quote  |  Print  |  Notify Moderator

If you have an extra $165,000/year to spend in retirement then God bless you! You have worked very hard to get where you are. Spending that kind of money in retirement would quickly bankrupt most retirees.


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

Canada

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Posted: 03/09/18 07:17am Link  |  Quote  |  Print  |  Notify Moderator

I just picked the 165000 out of the air. I thought it seamed like a reasonable retirement income for someone buying a $600,000 coach. I just punched that value into a savings withdrawal calculator and it turns out that based on a 3% return I would need 3000000 dollars in savings after buying my coach to be able to withdraw 165000 annually for 25 years.

I think most people with 3 1/2 million dollars in savings would have a hard time blowing 20% of their life"s savings on a rapidly depreciating asset such as an RV. And on the other hand I'm left wondering how many people driving $600,000 motorhomes actually have the RV paid for and 3 million in their savings account.

In the end I have come to realize that the posters here are right ... there is no rule; people just do what they feel like with their money and I guess it all works out somehow.


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bobkatmsu

clearwater, fl

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Posted: 03/09/18 12:58pm Link  |  Quote  |  Print  |  Notify Moderator

In our case our expenses will vary from year to year. We just retired last year and went full-time. We treated that first year like we were on vacation for a year. If there was something we wanted to do we did it. This year we are heading to Alaska and plan on taking part in many attractions. We expect it to be pricey, but we had planned on that. After that we still plan on traveling, but will sitting a little more and have a very nice place that has offered the camp host job to us for a 3 month stretch each year. So not only will we not have camp dues, but we might make a buck or two. So, you see, the variables are infinite even with the same campers.

DallasSteve

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Posted: 03/09/18 02:06pm Link  |  Quote  |  Print  |  Notify Moderator

This thread doesn't give me a headache. It's a very interesting subject to me since I'm planning to (semi)retire and start full-timing in 6 months. I want to compare my budget to what people are actually experiencing. At $25K to $35K per year, I'm in good shape. If it's more than that I will need to generate some more income on the road which I may be able to do with some part-time remote programming jobs. As for putting 20% of my life savings into a rig, I might put 30% or 40% into a new motorhome or 15% to 25% in a used one. Depreciation is high, but it's not 100% in the first year. If you get out in a few years, you can recover a lot of the cost. If you stay in it (full time) you are offsetting the cost with housing costs that you don't pay.

4x4ord

Canada

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Posted: 03/10/18 05:48am Link  |  Quote  |  Print  |  Notify Moderator

DallasSteve wrote:

This thread doesn't give me a headache. It's a very interesting subject to me since I'm planning to (semi)retire and start full-timing in 6 months. I want to compare my budget to what people are actually experiencing. At $25K to $35K per year, I'm in good shape. If it's more than that I will need to generate some more income on the road which I may be able to do with some part-time remote programming jobs. As for putting 20% of my life savings into a rig, I might put 30% or 40% into a new motorhome or 15% to 25% in a used one. Depreciation is high, but it's not 100% in the first year. If you get out in a few years, you can recover a lot of the cost. If you stay in it (full time) you are offsetting the cost with housing costs that you don't pay.



There are always deals to find on slightly used RVs. Personally I would find it extremely hard to sell our house and use the proceeds to buy an RV or cover day to day living expenses..... I would need to know that when we are done with RVing we would have money available to buy a new house which could cost double what we sell the old one for 10 years earlier.

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